Investor Presentaiton
CONSISTENCY IN OUR STRATEGY
Гсол
CONSOLIDATED STATEMENT OF CASH FLOWS
Grupo Herdez, S.A.B. de C.V. and Subsidiaries.
(Amounts stated in thousands of Mexican pesos)
Year ended
December 31
2008
2009
• Operations:
Earnings before income tax
Items related to investment activities:
Discontinued operations
Depreciation
Loss on sale of fixed assets
Net pension cost
Interest earned
Ps
1,309,402
Ps
931,427
(9,153)
(2,842)
120,445
113,754
4,245
5,472
17,191
15,978
(33,965)
(32,749)
Equity share in earnings of associated companies
(43,810)
(24,175)
Other income without cash flow
22,636
(208,474)
Items related to financing activities:
Interest expense
129,923
152,059
Subtotal of items related to investment and financing activities
1,516,914
950,450
Increase in accounts receivable
(64,794)
(762,047)
Decrease (increase) in inventories
48,320
(134,993)
Decrease in other assets
26,586
24,833
(Decrease) increase in suppliers
(140,990)
209,430
(Decrease) increase in other accounts payable
(25,831)
154,997
Income tax paid
Net cash flows from operating activities
Investment activities:
Business acquired
Collected interests
(178,745)
1,181,460
(201,465)
241,205
(176,793)
(44,000)
33,480
31,439
Acquisitions of property, machinery and equipment
(296,075)
(101,618)
Collections on sale of property, machinery and equipment
101,840
Net cash flows from investment activities
(337,548)
47,576
(66,603)
843,912
174,602
Cash surplus to be used in financing activities
Financing activities:
Long-term loans (paid) received
Interests paid
Dividends paid
Repurchase of shares
Net cash flows from financing activities
Net increase of cash and other cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
34
(139,806)
377,519
(121,633)
(141,857)
(359,045)
(324,179)
(10,816)
(224)
(631,300)
(88,741)
212,612
85,861
211,585
125,724
Ps
424,197
Ps
211,585
Héctor Hernández Pons Torres
General Director
Ernesto Ramos Ortiz
Administration and
Corporate Practices Director
The accompanying nineteen notes are an integral part of these
consolidated financial statements, which were authorized for
issuance on February 18, 2010 by the undersigned officers.View entire presentation