Annual report 2008 - Polkomtel

Cash flow statement
T h e l a r g e s t
n e t w o r k i n P o l a n d
for the period 01.01.2008
31.12.2008
01.01.2007
31.12.2007
A. CASH FLOW FROM OPERATIONS
I. Net profit (loss) 1 359 094 009.29 1 356 930 114.15
II. Total adjustments 1 232 405 003.33 1 211 829 715.69
1. Depreciation 1 212 297 786.66 1 054 652 663.48
2. Exchange rate (gains) losses 0.00 0.00
3. Interest and shares in profits (dividends) 86 319 092.33 70 320 688.37
4. Profit (loss) on investments (75 062 844.87) 4 644 482.47
5. Changes in provisions 102 368 822.35 (55 054 233.12)
6. Changes in inventories 5 917 162.54 (37 217 017.27)
7. Changes in receivables (43 927 513.38) (172 990 175.98)
8. Changes in current payables (other than loans and credits) (26 062 690.95) 212 875 843.04
9. Changes in prepayments and accruals (29 444 811.35) 135 406 214.96
10. Other adjustments 0.00 (808 750.26)
III. NET CASH FLOW FROM OPERATIONS (A.I.+/- A.II.) 2 591 499 012.62 2 568 759 829.84
B. CASH FLOW FROM INVESTMENTS
I. Investment revenues 88 881 963.20 43 322 246.38
1. Disposal of intangible assets and tangible non-current assets 7 371 766.80 4 098 417.355
2. Disposal of investment into real property and intangible assets 0.00 0.00
3. From financial assets including: 0.00 1 600 000.00
a) in affiliates 0.00 1 600 000.00
b) other 0.00 0.00
• disposal of financial assets 0.00 0.00
• dividends and shares in profits 0.00 0.00
• interest 0.00 0.00
• other revenues from financial assets 0.00 0.00
4. Other revenues from investments 81 510 196.40 37 623 829.03
II. Expenses on investments (1 623 344 872.46) (1 568 608 053.18)
1. Acquisition of intangible assets and tangible non-current assets (1 526 140 300.35) (1 517 926 044.02)
2. Investments in real property and intangible assets 0.00 0.00
3. On financial assets, including: (31 404 853.43) 0.00
a) in affiliates (31 404 853.43) 0.00
b) other 0.00 0.00
• acquisition of financial assets 0.00 0.00
• long-term loans extended 0.00 0.00
4. Other investment expenses (65 799 718.68) (50 682 009.16)
III. NET CASH FLOW FROM INVESTMENTS (B.I.- B.II.) (1 534 462 909.26) (1 525 285 806.80)
C. CASH FLOW FROM FINANCIAL OPERATIONS
I. Proceeds from financial operations 3 146 918 742.74 6 802 690 864.36
1. Net proceeds from issue of shares and other equity instruments,
0.00 0.00
and additional payments to capital
2. Credits and loans 1 823 211 874.10 2 888 083 252.71
3. Issue of debt securities 1 323 706 868.64 3 914 607 611.65
4. Other financial revenues 0.00 0.00
II. Expenses on financial operations (4 201 581 762.38) (7 844 757 350.14)
1. Acquisition of equity shares 0.00 0.00
2. Dividend and other payments to owners (938 039 550.60) (1 341 970 449.40)
3. Payments to owners by virtue of distribution of profit other than dividend 0.00 0.00
4. Repayments of credit and loans (1 400 000 000.00) (2 400 000 000.00)
5. Redemption of debt securities (1 778 000 000.00) (4 030 000 000.00)
6. Other financial liabilities 0.00 0.00
7. Financial leasing payments 0.00 0.00
8. Interest (85 542 211.78) (72 786 900.74)
9. Other financial expenses 0.00 0.00
III. NET CASH FLOW FROM FINANCIAL OPERATIONS (C.I. – C.II.) (1 054 663 019.64) (1 042 066 485.78)
D. TOTAL NET CASH FLOW (A + / – B + / – C) 2 373 083.72 1 407 537.26
E. CASH BALANCE CHANGE 2 373 083.72 1 407 537.26
• including change in cash balance due to exchange rate differences 51 382.16 (27 090.49)
F. CASH AT THE BEGINNING OF THE PERIOD 21 571 591.35 20 164 054.09
G. CASH AT THE END OF THE PERIOD (F + / – D) 23 944 675.07 21 571 591.35
• with a limited availability 15 263 085.62 13 129 783.32
58
POLKOMTEL S.A. – ANNUAL REPORT 2008
POLKOMTEL S.A. – ANNUAL REPORT 2008 59