|
Year ended | ||
2006 |
2005 | |
Operating activities: |
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| Profit before financing and taxation | 1 861 704 | 2 514 360 |
| Adjustments to reconcile profit to cash generated from operations: | ||
| Depreciation and amortization | 963 148 | 496 597 |
| (Reversal of impairment)/impairment of assets | 57 736 | (65 159) |
| Provisions against inventories and receivables | (11 641) | 27 629 |
| Negative goodwill | (4 213) | (7 630) |
| Loss on disposal of property, plant and equipment | 69 989 | 36 770 |
| Gain on restructuring of tax liabilities | (14 669) | (174 178) |
| Loss on disposal of subsidiaries/associates | (846) | 9 759 |
| Gain on remeasurement and disposal of financial investments | (32 673) | (24 292) |
| Dividends from associates less share of associates' income | 1 193 | 17 413 |
| Changes in operating assets and liabilities: | ||
| Trade accounts receivable | (16 474) | 10 585 |
| Amounts receivable from related parties | 92 387 | 43 006 |
| VAT recoverable | 140 315 | (222 739) |
| Inventories | (309 296) | (73 542) |
| Trade accounts payable | 57 562 | 16 323 |
| Amounts payable to related parties | (101 337) | 53 386 |
| Other non-current liabilities | 10 396 | 13 114 |
| Net other changes in operating assets and liabilities | 43 883 | 45 449 |
| Cash generated from operations | 2 621 049 | 2 690 814 |
| Interest paid (excluding banking operations) | (215 081) | (199 177) |
| Income tax paid | (676 582) | (557 303) |
| Net cash provided from operating activities | 1 729 386 | 1 934 334 |
Investing activities: |
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| Additions to property, plant and equipment | (1 243 831) | (1 204 415) |
| Additions to intangible assets | (8 808) | (32 322) |
| Net additions to short-term bank deposits | (431 142) | (133 526) |
| Additions to financial investments and associates | (1 203 824) | (817 558) |
| Buy out of minority interests | (70 741 | (115 432) |
| Net cash outflow on acquisitions of subsidiaries | (281 133) | 219 675 |
| Net cash inflow/(outflow) on disposals of subsidiaries | 1 588 | 13 701 |
| Proceeds from disposal of property, plant and equipment | 14 023 | 10 893 |
| Proceeds from disposal of financial investments | 949 480 | 816 671 |
| Interest received (excluding banking operations) | 105 251 | 53 911 |
| Cash used for investing activities | (2 169 137) | (1 178 089) |
Financing activities: |
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| Proceeds from debt finance | 1 379 209 | 1 156 982 |
| Repayment of debt finance | (1 495 440) | (1 357 997) |
| Proceeds from share issues | 1 105 197 | - |
| Parent company dividends paid | (269 286) | (277 605) |
| Minority capital contributions | 6 685 | 37 734 |
| Net other cash flows from financing acitivities | - | (7 742) |
| Cash (used for)/provided from financing activities | 726 365 | (448 628) |
| Effect of exchange rates on cash | 86 251 | (70 551) |
| Net (decrease)/increase in cash and cash equivalents | 372 865 | 237 066 |
| Cash and cash equivalents at beginning of the period | 1 327 430 | 1 090 364 |
| Cash and cash equivalents at end of the period | 1 700 295 | 1 327 430 |
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