Etalon Group - Expanding Portfolio for Robust Growth
B 1Grou
Cashflow Statement
mn USD
2008
2009
2010 1H2010 1H2011
mn USD
2008
2009
2010 1H2010 1H2011
OPERATING ACTIVITIES:
INVESTING ACTIVITIES:
Proceeds from disposal of non-current
Profit for the year
47.2
162.0
154.3
68.0
96.3
1.9
3.4
1.0
0.2
3.4
assets
Adjustments for:
Interest received
3.5
6.3
3.1
2.0
2.4
Depreciation and amortisation
7.7
6.5
9.4
4.9
4.4
Acquisition of PP&E
(17.9) (7.0) (10.8)
(6.0) (6.7)
(Gain)/loss on disposal of PP&E
0.2
(2.0)
(0.0)
0.4
(2.1)
Loans given
(3.4)
(8.4) (3.5)
(3.1) (2.1)
Loss on disposal of subsidiaries
0
0
0.2
0.4
0.0
Share of profit on equity accounted
investees
Loans repaid
0.7
0.2
2.0
0.3
1.9
(0.2)
(0.1)
0.0
0.0
0.0
Acquisition of subsidiaries, net of cash
0.0
0.5
0.3
0.0
0.0
Gain (loss) on disposal of other
investments
acquired
0.0
0.0
0.0
0.3
(0.8)
Disposal of subsidiaries, net of cash
0.0
Finance cost, net
44.9
24.3
16.1
2.4
(7.4)
disposed of
0.0
0.0 (1.2)
(1.4)
0.0
Impairment losses on loans given
2.0
2.4
0.0
0.0
0.0
Acquisition of other investments
0.0
0.0
Net cash used in investing activities
(15.2)
(9.1)
(4.9) (18.3) (30.5) (18.3)
(22.6) (17.3)
Income tax expense
28.7
45.1
44.6
20.3
28.2
Cash from operating activities
before changes in working capital
FINANCING ACTIVITIES:
130.6
238.2
224.6
96.7
118.6
Proceeds from IPO
0.0
0.0
0.0
0.0 472.2
Change in inventories
(530.0)
Change in accounts receivable
Change in accounts payable
476.3
81.6
(42.7) (26.0) (6.6)
(196.2) (219.2)|
50.0
49.8
(0.2)
(78.2)
(62.1)
Proceeds from issue of share capital
78.4
0.0
0.0
0.0
0.0
Change in provisions
48.2
13.2 (24.2)
(22.7)
Change in other currents assets
0.0
(0.5)
(1.1)
0.6
(15.3)
(5.3)
1.0
(32.0) Acquisition of non-controlling interest
Proceeds from disposal of non-controlling
interest
(0.4)
0.0
(3.2)
(3.0)
0.0
0.0
0.0
0.0
0.0
0.8
Proceeds from borrowings
283.4 272.2 355.3
137.2
79.8
Repayments of borrowings
Income tax paid
(27.6)
Interest paid
(28.4)
Net cash provided by operating
activities
26.5
68.6
(15.9) (35.6) (19.3)
(26.0) (26.8) (10.1)
(39.0) 16.3
(48.0)
(19.2)
Dividends paid
(314.6) (303.4) (283.7) (182.1) (27.2)
(0.8) (1.0) (1.3) (1.3) 0.0
Net cash (used in)/from financing
(62.2) activities
46.0
(32.1) 67.1 (49.2) 525.7
Net increase in cash and cash
equivalents
57.3
31.6
9.9 (63.4) 445.2
Cash and cash equivalents at the end of
Source: audited consolidated IFRS accounts for 2008, 2009, 2010 and reviewed IFRS accounts for 1H 2011
95.6
107.5
119.7
47.5 565.3
the period
Etalon Group
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