FY 2012 - Investor Relations - NIS

Consolidated Statement Of Cash FlowsYear ended 31 st December2012 2011Year ended 31 st December2012 2011Cash flows from operating activitiesSales and advances received 312,802,874 282,619,560Interest from operating activities 1,903,267 984,664Other inflow from operating activities 192,320 300,309Cash inflow from operating activities 314,898,461 283,904,533Payments and prepayments to suppliers (139,319,224) (121,617,940)Salaries, benefits and other personal expenses (23,671,657) (21,859,725)Interest paid (3,318,871) (3,114,515)Income tax paid (3,572,576) (1,591,951)Payments for other public revenues (107,726,495) (101,229,604)Cash outflow from operating activities (277,608,823) (249,413,735)Net cash from operating activities 37,289,638 34,490,798Cash flows from investing activitiesSale of shares 228 17,103Cash flows from financing activitiesProceeds from long-term and short term borrowings 6,651,461 23,406,069Proceeds from other long-term and short-term liabilities 3,818,459 26,002,087Cash inflow from financing activities 10,469,920 49,408,156Outflows from long-term, short-term and other liabilities (11,360,516) (35,177,068)Cash outflow from financing activities (11,360,516) (35,177,068)Net cash (used in) from by financing activities (890,596) 14,231,088(Decrease) Increase in cash and cash equivalents (14,417,640) 15,272,124Cash and cash equivalents at beginning of year 25,832,354 10,636,669Currency translation gains on cash and cash equivalents 2,064,732 1,409,520Currency translation losses on cash and cash equivalents (1,409,549) (1,485,959)Cash and cash equivalents at the end of year 12,069,897 25,832,354The accompanying notes are an integral part of these consolidated financial statements.Proceeds from sale of property, plant and equipment 155,088 592,285Cash inflow from investing activities 155,316 609,388Purchase of intangible assets, property, plant andequipment(47,212,914) (34,059,150)Other financial investments (3,759,084) -Cash outflow from investing activities (50,971,998) (34,059,150)Net cash used in investing activities (50,816,682) (33,449,762)234 • Financial reports Annual report 2012Annual report 2012Financial reports • 235