Annual Report 2017
(in millions of PLN)
|
|
Note |
Year ended 31 December 2017
|
Year ended 31 December 2016 |
| Cash flows from operating activities |
|
|
|
| Profit/(loss) before tax |
|
1,002 |
205 |
| Adjustments for: |
|
|
|
| Share in (profit)/loss of the entities measured by the equity method |
|
(24) |
52 |
| Foreign currency (gains)/losses |
|
(17) |
11 |
| Amortization and depreciation |
11.3 |
973 |
957 |
| Net interest and dividends |
|
268 |
259 |
| (Profit)/loss on investing activities, including goodwill impairment allowance |
30 |
(25) |
611 |
| Changes in working capital: |
|
|
|
| Change in receivables |
30 |
113 |
(127) |
| Change in inventories |
|
120 |
41 |
| Change in liabilities excluding loans and borrowings |
30 |
33 |
(104) |
| Change in prepayments and accruals |
|
(24) |
(29) |
| Change in provisions |
30 |
(198) |
176 |
|
|
2,221 |
2,052 |
| Income tax |
|
(39) |
(270) |
| Net cash from operating activities |
|
2,182 |
1,782 |
|
|
|
|
| Cash flows from investing activities |
|
|
|
| Disposal of property, plant and equipment and intangible assets |
|
15 |
11 |
| Purchase of property, plant and equipment and intangible assets |
|
(1,280) |
(1,580) |
| Proceeds from deposits above 3m |
|
125 |
- |
| Establishment of deposits above 3m |
|
(127) |
- |
| Sale of participation units in the ENERGA Trading fund |
|
2 |
320 |
| Disposal of subsidiary |
|
43 |
- |
| Investments in associates and joint ventures measured by the equity method |
2.2 |
(217) |
(443) |
| Other |
|
(6) |
3 |
| Loans granted |
|
(10) |
- |
| Net cash from investing activities |
|
(1,455) |
(1,689) |
|
|
|
|
| Cash flows from financing activities |
|
|
|
| Proceeds from debt incurred |
|
2,313 |
1,286 |
| Repayment of debt incurred |
|
(346) |
(575) |
| Redemption of debt securities |
|
(272) |
(578) |
| Dividends paid |
23 |
(79) |
(203) |
| Interest paid |
|
(206) |
(204) |
| Grants received |
|
49 |
- |
| Other |
|
(7) |
(13) |
| Net cash from financing activities |
|
1,452 |
(287) |
|
|
|
|
| Net increase/(decrease) in cash and cash equivalents |
|
2,179 |
(194) |
| Cash and cash equivalents at the beginning of the period |
19 |
1,464 |
1,658 |
| Cash and cash equivalents at the end of the period |
19 |
3,643 |
1,464 |
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