Annual report 2016

ANNUAL REPORT 2016 • Železiarne Podbrezová a.s. 5 5 Separate Statement of Cash Flow For the year ended 31 December 2016 (in euros) Note 2016 2015 Cash flows from core business activities Profit/(loss) from ordinary activities 43 984 745 3 974 478 Non - cash transactions affecting profit/loss from ordinary activities (27 994 746) 9 936 670 Depreciation charges 8 047 283 7 945 772 Net book value of donated non - current tangible and non - current intangible assets 23 6 376 - Write - off of receivables 23 81 291 6 913 Revenues from assigned receivables 23 - (3 158) Provision for employee benefits 16 1 068 235 971 929 Change In temporary accounts of assets 8; 11 81 913 (5 949) Change in temporary accounts of liabilities 15; 18 (275 809) 78 256 Provisions for assets 23 (697 409) 240 315 Interest expense 25 677 634 1 069 832 Interest income 24 (311 996) (1 707) Unrealised foreign exchange losses 26 21 494 8 941 Unrealised foreign exchange gains 26 (17 634) (25 692) Gain/(loss) from the sale of non - current assets 23; 26 (36 676 124) (348 782) Change in working capital (4 496 053) 7 774 932 Receivables 10 (5 415 746) 4 642 449 Payables 18 275 054 (6 043 671) Inventories 9 644 639 9 176 154 Interest paid 25 (677 634) (1 069 832) Interest received 24 12 771 1 707 Paid employee benefits 16 (717 396) (858 395) Items excluded from operating activities (12 240 280) (4 584 042) Dividends 26 (12 240 280) (4 677 430) Expenditures recognised in respect of derivatives 26 - 117 963 Income recognised in respect of derivatives 26 - (24 575) Specific items (5 879) (2 918) Corporate income tax paid (5 879) (2 918) Net cash generated by operating activities (2 134 472) 15 172 600 Cash flows from investing activities Expenditures for the acquisition of property, plant and equipment (9 058 597) (7 385 032) Acquisition of non - current intangible assets 6 (2 443) - Acquisition of non - current tangible assets 5 (6 199 881) (7 221 391) Acquisition of non - current financial assets 7 (3 000 779) - Change in liabilities of investment nature 18 144 506 (163 641) Proceeds on the sale of non - current assets 60 206 683 1 723 063 Proceeds on the sale of non - current tangible and intangible assets 23 176 301 107 093 Proceeds on the sale of non - current financial assets 26 60 030 382 1 615 970 SEPARATE STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31 DECEMBER 2016 (IN EUROS)