Investor Presentaiton
Water utility and energy business (GGU) – cash flow
GEORGIA
CAPITAL
GEL thousands unless otherwise noted
Profit before income tax
Adjustments for:
Depreciation and amortisation
1Q18
Quarterly cash flow statement
1Q17 y-o-y change (%)
4Q17
q-o-q change (%)
6,778
7,019
(3.4%)
9,077
(25.3%)
6,117
4,821
26.9%
5,229
17.0%
Allowance for impairment of trade receivables
1,449
(274)
NMF
(338)
NMF
Reversal of/(Charge for) provisions and legal claims related expenses
137
38
NMF
(99)
NMF
Net loss from disposal of property, plant and equipment and
investment property
395
184
NMF
295
33.8%
Revaluation gain on investment property
0.0%
(554)
(100.0%)
Net foreign exchange losses
Interest income
(1,760)
328
NMF
386
NMF
(221)
(388)
(43.0%)
(823)
(73.2%)
Finance costs
3,517
2,638
33.3%
4,605
(23.6%)
Non-reccurring expenses
124
100.0%
1,263
(90.1%)
Share-based payment expense
181
100.0%
388
(53.4%)
Operating cash flows before working capital changes
Change in inventories
110
(50)
NMF
(7)
NMF
Change in trade and other receivables
(4,797)
(2,686)
78.6%
(1,697)
NMF
Change in prepaid taxes other than income tax
1,624
1,301
24.8%
(1,589)
NMF
Change in prepayments
(950)
(5,510)
(82.8%)
7,109
NMF
Change in trade and other payables
5,708
4,879
17.0%
(2,160)
NMF
Change in deferred revenue
481
145
NMF
795
(39.6%)
Change in advances received
1,205
2,636
(54.3%)
3,007
(59.9%)
Change in other tax payables
837
(103)
NMF
(1,435)
NMF
Change in restricted cash.
2,567
359
NMF
(3,341)
NMF
Change in other non-current liabilities
1
100.0%
(22)
NMF
Interest received
180
419
(56.9%)
940
(80.8%)
Interest paid
(864)
(2,606)
(66.8%)
(5,188)
(83.3%)
Income tax paid
1
Total cash flow from operating activities
22,819
(534)
12,617
(100.3%)
(1,683)
NMF
80.9%
14,158
61.2%
Purchase of PPE and intangible assets
(57,076)
(24,142)
Purchase of investment property
Proceeds from PPE sale
(0)
14
NMF
0.0%
(100.0%)
(80,534)
(29.1%)
(12)
(100.0%)
(0)
(100.0%)
Proceeds from sale of investment property
1,100
Restricted cash in Bank
Total cash flow used in investing activities
(55,976)
(12,249)
(36,377)
0.0%
(100.0%)
0
NMF
8,275
(100.0%)
53.9%
(72,271)
(22.5%)
Proceeds from borrowings
11,697
12,412
Repayment of borrowings
(2,744)
(4,359)
Contributions under share-based payment plan
Dividends paid out
(5.8%)
(37.1%)
0.0%
0.0%
265,792
(95.6%)
(146,159)
(98.1%)
(2,599)
(100.0%)
(28,000)
(100.0%)
Capital increase
780
(100.0%)
2,607
(100.0%)
Total cash flow used in financing activities
8,953
8,833
1.4%
91,641
(90.2%)
Effect of exchange rates changes
Total cash (outflow)/inflow
(2,064)
(26,268)
(676)
NMF
6,075
NMF
(15,603)
68.4%
39,604
NMF
Cash, beginning balance
Cash, ending balance
70,261
32,379
117.0%
30,657
129.2%
43,993
16,776
162.2%
70,261
(37.4%)
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