AS FAKTO

CASH FLOW STATEMENT

01.01-31.12.98

 

Consolidated, audited

                                                  

                                                  

Net profit                              13 517 178

                                                  

Depreciation                             5 918 543

Profit from sales of non-current assets   -267 934

Loss from sales and write-off of 

non-current assets                          12 993

                                                  

Net cash generated                      19 180 780

                                                  

Supplier payables                       10 580 915

Change in accounts receivable              820 464

Prepaid expenses and taxes               1 098 476

Change in tax liabilities                  463 454

Foreign exchange gain                       54 700

Balance of extraordinary income and expenses                 

Net cash provided by operating 

activities				13 018 010

                                                  

Change in inventories                   -7 998 864

Change in other receivables             -1 637 655

Change in customer prepayments          -2 632 231

Income tax paid                         -1 581 698

Accrued expenses (except interests      -1 059 338

and dividends)

Other payables                             -38 897

Dividends and payments to                 -432 600

minority shareholders

Other long-term payables                  -321 867

Interests paid and financial expenses   -2 833 566

Net cash used by operating activities  -18 536 716

                                                  

Net cash flow from operating activities 13 662 074

                                                  

Proceeds from long-term borrowings      17 998 680

Repayment of long-term borrowings       -2 191 780

Payment of finance lease liabilities    -2 184 078

Proceeds from short-term borrowings      1 653 103

Repayment of short-term borrowings      -1 423 358

Other debt obligations                  14 445 080

Loans to clients                       -14 445 080

Loans repaid by clients                  6 926 018

Repayment of convertible debt             -856 304

Repayment of non-convertible debt       -6 211 796

Dividends paid                          -1 073 613

                                                  

Net cash flow from financing activities 12 636 872

                                                  

Purchase of non-current investments    -31 332 215

Proceeds from sale of non-current 

investments                              3 350 325

Assets acquired on finance lease         3 003 502

Interests and financial revenues 

received        			   427 798

                                                  

Net cash flow in investing activities  -24 550 589

                                                  

Net cash flows                           1 748 356

                                                  

Cash and cash equivalents as of          3 227 105

01.01.1998

Cash and cash equivalents as of          4 975 462

31.12.1998