Annual report 2005 - Sava dd

a n n u a l r e p o r t | 2 0 0 5
CASH FLOWS FROM OPERATING ACTIVITIES
1 4 4 |
(SIT in thousands)
2005 2004
Profit before taxation 9,215,573 11,651,449
Adjustments for:
Consolidated Statement of Cash Flows for the year 2005
Depreciation of property, plant and equipment 3,402,112 2,702,560
Depreciation of intangible assets 99,459 79,727
Depreciation of investment property 96,372 98,086
Impairment in property, plant and equipment 42,382 964,842
Impairment of intangible assets 51,431 21,999
Impairment in investment property 7,171 0
Impairment of financial investments 476,294 1,163,814
Revenues from elimination of negative goodwill -309,743 -3,467,619
Proceeds from sale of plant, property and equipment -1,050,978 -572,367
Loss at disposal of property, plant and equipment 21,156 93,563
Profit in sale of current financial investments 0 -3,335,892
Profit in sale of non-current securities -4,792,718 -2,786,801
Loss in sale of securities 56,847 69,305
Share in income of associates -4,692,039 -3,895,152
Other dividends received -492,590 -97,613
Interest expense 1,463,187 1,460,343
Interest revenue -344,370 -286,250
Income tax liability 1,252,339 860,704
Income from operations prior to change in operating equity and provisions 4,501,885 5,147,289
Change in non-current receivables -2,261,976 328,884
Change in current receivables -544,786 1,784,305
Change in inventories 29,670 1,201,502
Change in current operating liabilities and accrued costs -112,062 -7,175,720
Change in non-current operating liabilities -88,940 -147,424
Change in provisions 77,221 76,002
Change in government grants 1,301,270 275,954
Acquired cash in operations 2,902,282 1,490,792
Paid income tax -1,312,192 -507,931
Net cash flow from operations 1,590,090 982,861