Statement of Cash Flows

 

2014

2015

 
    

Cash flows from operating activities

 

 

 

Earnings before taxes

444.999

-2.759.048

 

Plus / minus adjustments for:

 

 

 

Depreciation

410.626

396.135

 

Provisions

23.106

63.207

 

Exchange differences

-9.439

-33.515

 

Results (income, expenses, profit, loss) investing activity:

3.845.305

-212.990

 

Interest and otder expenses:

67.683

32.562

 

Plus / minus adjustments for changes in working capital accounts related to operating activities:

 

 

 

Decrease / (increase) in inventories:

-26.140

1.094

 

Decrease / (increase) in receivables:

1.722.226

2.286.434

 

(Decrease) / increase in liabilities (except banks):

-105.209

1.264.806

 

Minus:

 

 

 

Interest and otder expenses paid:

-65.224

-32.629

 

Taxes paid:

-965.177

-906.656

 

Total inflow / outflow from operating activities (a)

5.342.756

99.500

 

 

 

 

 

Cash flows from investing activities

 

 

 

Acquisition of subsidiaries, affiliated companies, joint ventures and otder investments:

0

-1.106.297

 

Amounts received from tde sale of tangible and intangible assets:

1.277

2.500

 

Amounts received from tde sale of financial instruments:

2.911.031

100.000

 

Purchase of tangible and intangible assets:

-344.010

-506.355

 

Amounts received from sale of subsidiaries and associates :

0

1.457.805

 

Loans to tdird parties:

-197.599

-1.346.809

 

Purchase of otder financial instruments:

-5.027.710

-1.324.238

 

Total inflow / outflow from investing activities (b):

-2.657.010

-2.723.393

 

 

 

 

 

Cash flow from financing activites

 

 

 

Amounts received from share capital increase:

0

0

 

Loans received:

89.136

0

 

Loans repayment:

-146.995

-8.317

 

Payments of leasing liabilities:

-73.808

-76.194

 

Dividends paid:

-1.246.137

-512.873

 

Total inflow / outflow from financing activities (c)

-1.377.804

-597.384

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents for tde period (a)+(b)+(c):

1.307.943

-3.221.278

 

Cash and cash equivalents at beginning of  year:

2.367.693

3.675.636

 

Cash and cash equivalents at end of  year:

3.675.636

454.358