SABAF - ANNUAL REPORT 2012
Consolidated financial Statements at 31 december 2012
Consolidated statement of cash flows 12M 2012
12M 2011
Cash and cash equivalents at beginning of year
14,208
9,769
Net profit for period
4,196
10,775
12,919
12,420
in thousands of euro
Adjustments for: • Depreciation and amortisation • Realised gains/losses • Write-downs of non-current assets • Losses from equity investments • Net financial income and expenses
(54)
(23)
1,028
1,129
465
356
943
1,146
• Income tax
2,023
4,679
Change in staff severance fund
(243)
(223)
Change in general provisions
(99)
(36)
Change in trade receivables
4,806
981
Change in inventories
2,847
(801)
Change in trade payables
(9,264)
3,623
Change in net working capital
(1,611)
3,803
Change in other receivables and payables, deferred tax liabilities
(692)
(387)
Payment of taxes
(2,877)
(10,159)
Payment of financial expenses
(1,054)
(1,203)
Collection of financial income
219
162
Cash flow from operations
15,163
22,439
Investments in non-current assets • intangible
(778)
(786)
• tangible
(13,219)
(13,704)
• financial
(600)
(200)
Disposal of non-current assets
281
235
Net investments
(14,316)
(14,455)
Repayment of loans
(11,627)
(5,856)
New loans
12,556
12,546
Acquisition own shares
(2,011)
0
Payment of dividends
(6,900)
(9,201)
Cash flow from operations
(7,982)
(2,511)
Foreign exchange differences
(936)
(1,034)
Net financial flows for the year
(8,071)
4,439
Cash and cash equivalents at end of year
6,137
14,208
Current net financial debt
24,674
17,065
Non-current financial debt
5,259
11,939
Net financial debt (Note 21)
23,796
14,796
107