Annual Report 2008-2009 - Emirates.com
Annual Report 2008-2009 - Emirates.com
Annual Report 2008-2009 - Emirates.com
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Dnata<br />
116 Consolidated cash flow statement<br />
for the year ended 31 March <strong>2009</strong><br />
<strong>2009</strong> <strong>2008</strong><br />
AED'000 AED'000<br />
Operating activities<br />
Profit for the year before in<strong>com</strong>e tax<br />
Adjustments for:<br />
516,728<br />
313,345<br />
Depreciation and amortisation (Note 5) 249,470<br />
222,978<br />
Finance in<strong>com</strong>e - net (Note 6) (25,013) (55,274)<br />
Amortisation of advance lease rentals (Note 11) 928<br />
1,278<br />
Share of results in associated <strong>com</strong>panies and joint ventures (Note 10) (24,953) (12,825)<br />
Profit on sale of property, plant and equipment and intangible assets (532) (725)<br />
Net provision for impairment of trade receivables (Note 12) 2,468<br />
6,221<br />
Impairment of loan to a related party (Note 23) -<br />
2,590<br />
Provision for employee benefits (Note 5) 35,254<br />
73,940<br />
Employee benefit payments (46,240) (51,104)<br />
In<strong>com</strong>e tax paid (14,110) (23,301)<br />
Change in inventories (2,280) (1,499)<br />
Change in trade and other receivables (10,179) (115,177)<br />
Change in trade and other payables (201,447) 179,457<br />
Net cash generated from operating activities 480,094<br />
539,904<br />
Investing activities<br />
Purchase of property, plant and equipment (Note 8) (172,022) (190,809)<br />
Additions to intangible assets (Note 9) (25,765) (14,474)<br />
Proceeds from sale of property, plant and equipment and intangible assets 2,236<br />
2,781<br />
Investments in associated <strong>com</strong>panies and joint ventures (Note 10) (271,337) (220,427)<br />
Finance in<strong>com</strong>e 40,489<br />
71,614<br />
Dividend received from associated <strong>com</strong>panies 8,854<br />
18,150<br />
Movement in short term bank deposits (Note 21) 354,784<br />
(625,353)<br />
Acquisition of a subsidiary (Note 25) (1,305) (447,507)<br />
Loans to related parties - net (Note 23) (7,952) (13,775)<br />
Net cash used in investing activities (72,018) (1,419,800)<br />
Financing activities<br />
Net movement in loans (Note 15) (48,342) 238,851<br />
Finance cost (19,429) (14,673)<br />
Net cash (used in) / provided by financing activities (67,771) 224,178<br />
Net increase / (decrease) in cash and cash equivalents 340,305<br />
(655,718)<br />
Cash and cash equivalents at beginning of year 574,435 1,219,668<br />
Effects of exchange rate changes (19,224) 10,485<br />
Cash and cash equivalents at end of year (Note 21) 895,516<br />
Notes 1 to 26 form an integral part of the consolidated financial statements.<br />
574,435
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