Annual Report Gorenje Group 2009
Annual Report Gorenje Group 2009
Annual Report Gorenje Group 2009
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CONSOLIDATED STATEMENT OF CASH FLOWS<br />
Consolidated Statement of Cash Flows of the <strong>Gorenje</strong> <strong>Group</strong><br />
in TEUR Notes <strong>2009</strong> 2008<br />
A. CASH FLOWS FROM OPERATING ACTIVITIES<br />
Profit for the period -12,232 10,181<br />
Adjustments for:<br />
- Depreciation of property, plant and equipment 22 50,061 51,900<br />
- Amortisation of intangible assets 21 5,989 5,221<br />
- Investment income 19 -19,516 -19,603<br />
- Finance expenses 19 40,973 41,023<br />
- Gain on sale of property, plant and equipment 14 -416 -1,807<br />
- Gain from revaluation of investment property 14 0 -2,566<br />
- Income tax expense 20 2,924 5,292<br />
Operating profit before changes in net operating<br />
current assets and provisions 67,783 89,641<br />
Change in trade and other receivables 6,579 -17,336<br />
Change in inventories 35,023 -35,533<br />
Change in provisions -933 3,932<br />
Change in trade and other liabilities -19,267 31,017<br />
Cash generated from operations 21,402 -17,920<br />
Interest paid -21,223 -26,019<br />
Income taxes paid -2,385 -6,786<br />
Net cash from operating activities 65,577 38,916<br />
B. CASH FLOWS FROM INVESTING ACTIVITIES<br />
Proceeds from sale of property, plant and equipment 1,517 2,398<br />
Proceeds from sale of investments 5,598 6,208<br />
Interest received 4,153 7,208<br />
Dividends received 373 1,048<br />
Disposal of subsidiary, net of cash disposed 263 641<br />
Acquisition of subsidiary, net of cash acquired 0 -95,011<br />
Acquisition of property, plant and equipment -24,198 -71,289<br />
Available-for-sale investments 3,958 -1,403<br />
Loans 3,824 -30,570<br />
Acquisition of other investments -10,412 -5,050<br />
Acquisition of intangible assets -4,534 -5,518<br />
Net cash used in investing activities -19,458 -191,338<br />
C. CASH FLOWS FROM FINANCING ACTIVITIES<br />
Repurchase of minority interest -7,551 0<br />
Repurchase of own shares and interests 0 -112<br />
Borrowings / Repayment of borrowings -35,553 164,875<br />
Dividends and premiums paid 0 -5,910<br />
Net cash used in financing activities -43,104 158,853<br />
Net increase in cash and cash equivalents 3,015 6,431<br />
Cash and cash equivalents at beginning of period 24,115 17,684<br />
Cash and cash equivalents at end of period 27,130 24,115<br />
93<br />
<strong>Annual</strong> <strong>Report</strong> <strong>Gorenje</strong> <strong>Group</strong> <strong>2009</strong>
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