BAM Abbreviated Annual Report 2011 - Siteseeing in the world of ...

108
2011
Consolidated cash flow statement
(x € 1,000)
The notes on pages 109 to 176 are an integral part of these consolidated financial statements.
2011 2010
Net result for the year 127,727 18,366
Adjustments for:
29 - Taxation 30,966 7,589
8,26 - Depreciation of property, plant and equipment 94,920 97,324
9 - Amortisation of intangible assets 11,096 10,947
8,26 - Impairment of property, plant and equipment - 884
11,12,26- Impairment of other fixed assets - 5,112
35 - Result on sale PPP projects (11,669) -
- Result on sale of property, plant and equipment (4,325) (2,573)
28 - Finance income (72,801) (87,155)
28 - Finance expense 99,144 64,623
11 - Result from associates (34,376) (33,719)
21,22 Changes in provisions (40,242) (69,159)
Changes in working capital (excluding net liquidities) (90,927) 137,042
Cashflow from operations 109,513 149,281
Interest paid (130,007) (101,342)
Income tax paid (13,458) (3,452)
Net cashflow from ordinary activities (33,952) 44,487
10 Change in PPP receivables (419,002) (250,080)
Net cash flow from operating activities (452,954) (205,593)
Acquisition of subsidiaries (3,000) (4,628)
8 Investments in property, plant and equipment (70,171) (80,538)
9 Investments in intangible assets (2,838) (35,939)
12 Investments in non-current receivables (26,654) (10,664)
11,12 Investments in other financial fixed assets (218) (3,538)
35 Divestments of PPP projects 25,429 -
8 Divestments in property, plant and equipment 17,251 14,615
9 Divestments in intangible assets 154 11
10,11,12Divestments in financial assets 218,550 35,323
Other movements in minority interest - (2,570)
Interest received 72,903 86,761
11 Dividend received 41,788 16,291
Net cash flow from investing activities 273,194 15,124
16 Net proceeds from issue new shares - 240,087
19 New non current borrowings 637,673 503,287
19 Repayment of non current borrowings (346,511) (353,550)
31 Dividend paid (3,312) (13,520)
Dividend paid to non-controlling interests (2,015) (344)
Purchase finance preference shares (314) -
Net cash flow from financing activities 285,521 375,960
Increase/decrease in net cash position 105,761 185,491
15 Net cash position at beginning of the year 912,870 715,152
35 Movement net liquidities assets and liabilities held for sale (17,165) -
Exchange rate difference on net cash position 6,539 12,227
15 Net cash position at end of the year 1,008,005 912,870