sain t-gobain annu al report 2008 annual report
sain t-gobain annu al report 2008 annual report
sain t-gobain annu al report 2008 annual report
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Cash flow statement<br />
(in € thousands) <strong>2008</strong> 2007 2006<br />
Net income 1,263,527 871,150 849,187<br />
Depreciation and amortization 2,245 9,911 15,383<br />
Changes in provisions 14,255 (28,849) (274,529)<br />
Gains and losses on dispos<strong>al</strong>s of assets, net (1,359) 41,396 27,821<br />
Net cash from operations 1,278,668 893,608 617,862<br />
(Increase) decrease in other receivables (868,743) 156,228 12,238<br />
Reclassification to receivables of subsidiaries’ current accounts (1) – – (2,625,046)<br />
Increase (decrease) in taxes and soci<strong>al</strong> charges payable 55,610 (30,423) 25,174<br />
Increase (decrease) in other payables 41,602 (12,902) 56,332<br />
Net change in working capit<strong>al</strong> (771,531) 112,903 (2,531,302)<br />
Net cash from/(used in) operating activities 507,137 1,006,511 (1,913,440)<br />
Acquisitions of intangible assets (2,508) (3,283) (3,680)<br />
Acquisitions of property and equipment (1,992) (5,658) (8,169)<br />
Proceeds from dispos<strong>al</strong>s of property and equipment and intangible assets - 1,353 63<br />
Acquisitions of investments in subsidiaries and affiliates and other investment securities (993,002) (402,821) (2,968,279)<br />
Acquisitions of treasury stock – – (109,449)<br />
Proceeds from dispos<strong>al</strong>s of investments in subsidiaries<br />
and affiliates and other investment securities 52,880 79,932 3,105,146<br />
(Increase) decrease in loans and advances to subsidiaries and affiliates (942,811) (284,811) (1,108,256)<br />
(Increase) decrease in long-term loans (98,368) (262,847) 838,477<br />
(Increase) decrease in other financi<strong>al</strong> investments 125 20 9<br />
Net cash used in investing activities (1,985,676) (878,115) (254,138)<br />
Issues of capit<strong>al</strong> stock 356,015 325,361 1,146,658<br />
Dividends paid (766,732) (621,062) (459,483)<br />
Increase (decrease) in unappropriated retained earnings – – –<br />
Increase (decrease) in rev<strong>al</strong>uation reserves – – –<br />
Increase (decrease) in other equity – – –<br />
Increase (decrease) in provisions for contingencies and charges 1,611 2,490 (6,769)<br />
Increase (decrease) in short- and long-term debt 1,639,661 (661,271) (712,799)<br />
Increase (decrease) in bank overdrafts and other short-term debt 1,396,215 919,929 (256,539)<br />
Decrease (increase) in marketable securities (1,174,323) (50,227) –<br />
Increase (decrease) in translation adjustments (1,149) 782 (420)<br />
Net cash from/(used in) financing activities 1,451,298 (83,998) (289,352)<br />
Increase (decrease) in cash and cash equiv<strong>al</strong>ents (27,241) 44,398 (2,456,930)<br />
Cash and cash equiv<strong>al</strong>ents at beginning of year 55,883 11,485 2,468,415<br />
Cash and cash equiv<strong>al</strong>ents at end of year (1) 28,642 55,883 11,485<br />
An<strong>al</strong>ysis of cash and cash equiv<strong>al</strong>ents at December 31<br />
Cash at bank 28,642 55,880 11,477<br />
Cash on hand – 3 8<br />
Tot<strong>al</strong> 28,642 55,883 11,485<br />
190<br />
(1) Since December 31, 2006, subsidiaries’ current accounts in debit have been included in other receivables. These items were previously <strong>report</strong>ed in cash and cash<br />
equiv<strong>al</strong>ents. At December 31, 2006, current accounts reclassified to other receivables tot<strong>al</strong>ed €2,625,046.<br />
Saint-Gobain – Financi<strong>al</strong> Report <strong>2008</strong>
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