annual report - Royal Haskoning

cash flow
financial review
consolidated cash flow statement x 1 1,000
2006 2005
cash flow from operating activities
Operating result 12,735 10,689
Adjustments for:
Depreciation 4,990 4,070
Results on sale of fixed assets (2,241) (902)
Changes in provision excluding tax (652) (3,492)
2,097 (324)
Changes in working capital:
Work in progress (3,453) (2,980)
Debtors (7,143) (4,158)
Current liabilites 8,997 10,758
(1,599) 3,620
cash flow from company operations 13,233 13,985
Interest received/paid by remainder 167 179
Dividends received from subsidiaries 891 724
Received/paid corporate taxation (4,597) (2,974)
(3,539) (2,071)
cash flow from operating activities 9,694 11,914
cash flow from investment activities
Acquisition of subsidiaries including loans given (4,098) (13,927)
Divestment of subsidiaries including repayments of issued loans 1,008 –
Investments in tangible and intangible fixed assets (5,260) (2,157)
Disposals of tangible and intangible fixed assets 4,888 8,088
including income from laboratory
cash flow from investment activities (3,462) (7,996)
6,232 3,918
cash flow from financing activities
Changes in long-term liabilities (1,112) (8,980)
Changes minority interests excluding share in result (93) (105)
cash flow from financing activities (1,205) (9,085)
net cash flow 5,027 (5,167)
Carry forward 5,027 (5,167)
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