Annual report 2001 - GL events

4
4-2-3 Consolidated Cash Flow Statement
2001 2000 1999
Notes K€ K€ K€
Cash & cash equi. at the beginning of the year (discounted notes) (1) 20 955 8 394 (2 327)
Operating activities
Net profit 15 9 171 22 318 4 912
Depreciations and provisions 15 697 17 429 13 225
Charges transferred to the deferred charges account (818) (138) (1 424)
Capital (gains) and losses on disposal of fixed assets (195) (16 142) 313
Minority interests in net consolidated profit 15 507 1 213 697
Part of net profit from companies consolidated under the equity method 0 (62) (5)
Deferred tax charge / (profit) 12 212 (295) 718
Net cash flow excluding working capital movements 24 574 24 323 18 436
Elimination of income and expenses with no cash effect
or not a result of operating activities :
Change in inventory (63) (541) (952)
Change in accounts receivable, discounted notes and deferred income 3 719 (14 436) 5 969
Change in accounts payable (14 450) 12 627 6 386
Change in other balances (15 123) 4 270 (2 823)
Variation in working capital (25 917) 1 920 8 580
Net cash flow from operating activities (A) (1 343) 26 243 27 016
Investing activities
Acquisition of tangible assets and rental equipment (22 541) (19 342) (11 654)
Acquisition of intangible fixed assets (1 643) (384) (336)
Disposal of tangible and intangible assets 24 984 1 450 357
Purchase of long term investments (1 393) (1 192) (20 920)
Sale of long term investments 696 43 660 88
Net cash flows from acquisition and disposal of subsidiaries (5 092) (20 250) (1 422)
Net cash flow from investing activities (B) (28 989) 3 942 (33 887)
Financing activities
Cash inflows from shareholders due to share capital increases 181 9 709 0
Dividends paid to shareholders of the parent company 15 (3 349) (2 272) (1 136)
Dividends paid to the minority shareholders of the
consolidated companies 15 (100) (427) (612)
Cash inflows from new loans 26 806 9 536 32 280
Repayment of loans (11 025) (34 227) (13 009)
Conversion of debts 0 0 0
Net cash flow from financing activities (C) 12 513 (17 682) 17 524
Impact of exchange rate movements (D) 90 57 68
Net increase (A + B + C + D) (17 729) 12 561 10 721
Cash & Cash Equivalents at year end (discounted notes) (1) 3 226 20 955 8 394
(1) Cash balance : cash and bank balances + short term investments - (bank overdrafts + “Dailly”) – discounted notes
(2) the capital gains and losses on asset disposals are presented net of tax.
(3) In 2000, the company SF Protection was acquired at 93.59 %. This acquisition was paid partly in cash (K€ 5 916) and partly in
shares (K€ 9 709). The part paid in shares was not compensated for in the table of the consolidated cash flow statement in order
to facilitate reconciliation with the notes.