Download the 2009 annual report in PDF format - ANF
Download the 2009 annual report in PDF format - ANF
Download the 2009 annual report in PDF format - ANF
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124<br />
CONSOLIDATED FINANCIAL STATEMENTS<br />
Consolidated fi nancial statements (under IFRS) for <strong>the</strong> fi scal year ended December 31, <strong>2009</strong><br />
CASH FLOW STATEMENT<br />
(€ thousands) 12/31/<strong>2009</strong> 12/31/2008<br />
Cash flows from operat<strong>in</strong>g activities<br />
Net <strong>in</strong>come (53,977) 69,203<br />
Depreciation, amortisation & provisions 304 171<br />
Capital ga<strong>in</strong>s (losses) from disposals (2,150) 24<br />
Changes <strong>in</strong> fair value of property 89,478 (30,088)<br />
Changes <strong>in</strong> fair value of fi nancial <strong>in</strong>struments (902) 686<br />
Recognised revenue and expenses related to stock options 847 947<br />
Tax expense 1,902 (9,488)<br />
Cash flow<br />
Changes <strong>in</strong> operat<strong>in</strong>g work<strong>in</strong>g capital requirement<br />
35,502 31,455<br />
Operat<strong>in</strong>g receivables 137 38,416<br />
Operat<strong>in</strong>g liabilities before SIIC option liabilities (1,071) 3,831<br />
Net cash fl ows from operat<strong>in</strong>g activities 34,568 73,702<br />
Net cash flows from <strong>in</strong>vest<strong>in</strong>g activities<br />
Acquisition of assets (116,920) (121,405)<br />
Disposal of property 60,548 -<br />
Payment of exit tax (21,384) 4,914<br />
Changes <strong>in</strong> non-current fi nancial assets 7 (485)<br />
Net cash fl ows from <strong>in</strong>vest<strong>in</strong>g activities (77,749) (116,976)<br />
Net cash flows from f<strong>in</strong>anc<strong>in</strong>g activities<br />
Dividends paid out (6,357) (30,807)<br />
Impact of changes <strong>in</strong> share capital - (44)<br />
Purchase of treasury shares - (3,915)<br />
Loans and debt taken out 73,228 110,384<br />
Loans and debt repaid (5,419) (35,075)<br />
Net cash fl ows from fi nanc<strong>in</strong>g activities 61,452 40,543<br />
Net <strong>in</strong>crease (decrease) <strong>in</strong> cash and cash equivalents 18,271 (2,731)<br />
Open<strong>in</strong>g cash position 11,598 14,329<br />
Clos<strong>in</strong>g cash position 29,869 11,598<br />
<strong>ANF</strong> • <strong>2009</strong> ANNUAL REPORT<br />
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Contents<br />
OTHER GENERAL INFORMATION PRO FORMA FINANCIAL INFORMATION ANNUAL FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS INFORMATION ABOUT <strong>ANF</strong> DESCRIPTION OF THE BUSINESS