Consolidated statement of cash flows
Consolidated statement of cash flows for 2013
prepared using the indirect method
PLN ’000 | Note | Year ended Dec 31 2013 |
Year ended Dec 31 2012 (restated) |
---|---|---|---|
Cash flows from operating activities | |||
Net profit | 39,428 | 927,876 | |
Adjustments: | 1,409,414 |
483,446 |
|
Income tax | 10.1 |
(101,407) |
(561,535) |
Share in net loss of equity-accounted associates | 16 | 1,008 | - |
Depreciation and amortisation | 9.1 | 656,065 | 666,465 |
Foreign exchange (gains)/losses | 121,495 | (131,686) | |
Interest and dividends | 193,156 | 197,801 | |
(Gain)/loss from investing activities | 11,576 | 977,849 | |
Settlement and valuation of financial instruments | 9.5 | (112,861) | (117,772) |
Decrease in trade receivables | 23,023 | 453,082 | |
Decrease/(Increase) in other assets | 200,717 | (197,483) | |
Decrease/(Increase) in inventories | 232,696 | (108,783) | |
Increase/(Decrease) in trade payables | 238,465 | (639,025) | |
(Decrease)/Increase in other provisions and liabilities | (70,378) | (84,497) | |
Increase in employee benefit obligations | 15,859 | 29,030 | |
Income tax paid | (12,346) |
(64,242) |
|
Net cash from operating activities | 1,436,496 | 1,347,080 | |
Cash flows from investing activities | |||
Dividends received | 680 | 567 | |
Interest received | 6,988 | 9,316 | |
Sale of property, plant and equipment and other intangible assets | 9,429 | 27,727 | |
Sale of shares | 14,910 | 550 | |
Repayment of loans advanced | - | 1,536 | |
Loss of control over subsidiary, net of cash disposed of | - | 78,000 | |
Sale of organised part of business | 3,722 | 138 | |
Purchase of property, plant and equipment and other intangible assets | (976,975) | (757,925) | |
Acquisition of shares in related entities | (13,560) | (13,017) | |
Acquisition of a subsidiary, net of cash acquired | 2 | - | (129,132) |
Bank deposits for financing of maintenance shutdown | - | (45,721) | |
Security deposits (margins) | 134 | 586 | |
Funds contributed to the oil extraction facilities decommissioning fund | 30.1 | (1,654) | (1,886) |
Settlement of derivative financial instruments | 17,912 | (8,790) | |
Net cash from investing activities | (938,414) | (838,051) | |
Cash flows from financing activities | |||
Proceeds from borrowings | 27.1 | 963,045 | 542,530 |
Issue of notes | 27.2 | 203,050 | 362,367 |
Cash flows attributable to changes in interest in subsidiaries not resulting in loss of control | 2 | (278) | (182) |
Repayment of borrowings | 27.1 | (1,263,548) | (1,171,040) |
Redemption of notes | 27.2 | - | (364,000) |
Interest paid | (176,361) | (205,185) | |
Decrease in finance lease liabilities | (16,811) | (15,234) | |
Settlement of derivative financial instruments | 39,801 | (32,534) | |
Net cash from financing activities | (251,102) | (883,278) | |
Total net cash flow |
246,980 |
(374,249) |
|
Effect of exchange rate fluctuations on cash held | (1,553) | (27,958) | |
Change in net cash |
245,427 |
(402,207) |
|
Cash at beginning of the period | (240,655) | 161,552 | |
Cash at end of the period |
20 |
4,772 |
(240,655) |