Annual report 2001 - Polkomtel
Annual report 2001 - Polkomtel
Annual report 2001 - Polkomtel
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Cash Flow<br />
In <strong>2001</strong>, the net operating cash flow amounted to PLN 540.5m and was comparable with the<br />
net profit earned in the same period. Investment activities, in turn, absorbed PLN 944m. The<br />
value of capital expenditure did not change in relation to the previous year. The surplus of<br />
capital expenditure over the inflow of cash from the operating activities was financed entirely<br />
by the shareholders with a borrowing (PLN 500m) and through a share issue (PLN 412.5m).<br />
Some of the proceeds were also used to repay Company’s liabilities to financial institutions.<br />
Albrecht Dürer, The Adoration of the Magi, 1511<br />
Woodcut, 29.2 x 22.1 cm<br />
22
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