Consolidated Financial Statements >
CONSOLIDATED FINANCIAL STATEMENTS AND EXPLANATORY NOTES
156
| 2012 annual report prysmian group
CONSOLIDATED STATEMENT OF CASH FLOWS
(1)
The figure of Euro 86 million in 2012 refers to:
• Euro 23 million for the acquisition of Telcon Fios e Cabos para Telecomu-
niçaoes S.A. (stated net of Euro 9 million in cash and cash equivalents held
by the acquiree at the acquisition date);
• Euro 51 million for the acquisition of Global Marine Systems Energy Ltd.
(stated net of Euro 1 million in cash and cash equivalents held by the
acquiree at the acquisition date);
• Euro 9 million for the cash outlay under the squeeze-out procedure to
purchase Draka Holding NV shares;
• Euro 2 million for the acquisition of Draktel Optical Fibre S.A.;
• Euro 1 million for the acquisition of Neva Cables Ltd.
The figure of Euro 419 million in 2011 represented the cash outlay of Euro
501 million to acquire the Draka Group minus the Draka Group’s net cash
and cash equivalents at the acquisition date.
(2)
Interest expense paid in 2012 amounts to Euro 84 million (Euro 63 million
in 2011).
(3)
Interest income collected in 2012 amounts to Euro 17 million (Euro 19 mil-
lion in 2011).
Please refer to Note 37 for comments on the statement of cash flows.
(in millions of Euro)
2012
of which 2011
of which
related parties
related parties
(Note 33)
(Note 33)
Profit/(loss) before taxes
244
(101)
Depreciation and impairment of property plant and equipment
153
150
Amortisation and impairment of intangible assets
35
30
Net gains on disposals of property, plant and equipment, intangible assets
and other noncurrent assets
(14)
(2)
Share of income from investments in associates
(17)
(9)
Fair value - stock options
17
7
Fair value change in metal derivatives and other fair value items
(21)
63
Net finance costs
135
129
Changes in inventories
23
115
Changes in trade receivables/payables
55
(8)
50
2
Changes in other receivables/ payables
(4)
(2)
35
9
Changes in receivables/payables for derivatives
1
(3)
Taxes paid
(74)
(97)
Utilisation of provisions (including employee benefit obligations)
(104)
(67)
Increases in provisions (including employee benefit obligations)
117
5
267
A. Net cash flow provided by/(used in) operating activities
546
567
Acquisitions
(1)
(86)
(419)
Investments in property, plant and equipment
(132)
(135)
Disposals of property, plant and equipment and assets held for sale
11
14
Investments in intangible assets
(20)
(24)
Investments in financial assets held for trading
(33)
(42)
Disposals of financial assets for trading
25
22
Disposals of available-for-sale financial assets
3
143
Investments in associates
(1)
(1)
Dividends received
6
4
5
4
B. Net cash flow provided by/(used in) investing activities
(227)
(437)
Capital contributions and other changes in equity
1
1
Dividend distribution
(45)
(37)
Finance costs paid
(2)
(365)
(361)
Finance income received
(3)
236
231
Changes in net financial payables
(65)
128
C. Net cash flow provided by/(used in) financing activities
(238)
(38)
D. Currency translation gains/(losses) on cash and cash equivalents
4
5
E. Total cash flow provided/(used) in the year (A+B+C+D)
85
97
F. Net cash and cash equivalents at the beginning of the year
727
630
G. Net cash and cash equivalents at the end of the year (E+F)
812
727
