Annual Report | Consolidated statement of cash flows

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Financial statements
Consolidated statement of cash flows

Consolidated statement of cash flows

	Note	Year ended 31 December 2018	Year ended 31 December 2017
Cash flows from operating activities
Profit/(loss) before tax		953	1.002
Adjustments for:
Share in (profit)/loss of entities measured by the equity method		(90)	(24)
Foreign currency (gains)/losses		28	(17)
Amortization and depreciation	11,02	967	973
Net interest and dividends		298	268
(Profit)/loss on investing activities, including goodwill impairment allowance	30	(204)	(25)
Changes in working capital:
Change in receivables	30	410	113
Change in contract assets	30	(363)	0
Change in inventories		(335)	120
Change in liabilities excluding loans and borrowings	30	(195)	33
Change in contract liabilities	30	129	0
Change in prepayments and accruals		(72)	(24)
Change in provisions	30	441	(198)
		1.967	2.221
Income tax		(108)	(39)
Net cash from operating activities		1.859	2.182
Cash flows from investing activities
Disposal of property, plant and equipment and intangible assets		6	15
Purchase of property, plant and equipment and intangible assets		(1638)	(1280)
Proceeds from deposits above 3m		-	125
Establishment of deposits above 3m		-	(127)
Sale of participation units in the Energa Trading fund		-	2
Disposal of subsidiary		58	43
Investments in associates and joint ventures measured by the equity method	2,02	(206)	(217)
Loans granted		-	(10)
Repayment of loans		10	-
Other		-	(6)
Net cash from investing activities		(1.770)	(1.455)
Cash flows from financing activities
Proceeds from debt incurred		37	2.313
Repayment of debt incurred		(560)	(346)
Redemption of debt securities		(168)	(272)
Dividends paid	23	-	(79)
Interest paid		(312)	(206)
Grants received		27	49
Reimbursement of funds under grants received		(29)	-
Other		(1)	(7)
Net cash from financing activities		(1.006)	1.452
Net increase/(decrease) in cash and cash equivalents		(917)	2.179
Cash and cash equivalents at the beginning of the period	19	3.643	1.464
Cash and cash equivalents at the end of the period	19	2.726	3.643