Boskalis jaarverslagen 2011

Consolidated statement of cash flows

(in € 1,000)   Note   2011   2010
             
Cash flows from operating activities            
Net group profit       261,010   312,882
Depreciation, amortization and impairment losses       236,388   219,604
Cash flow       497,398   532,486
             
Adjustments for:            
Finance income and expenses       40,368   36,836
Taxation       54,735   77,125
Results from disposals of property, plant and equipment       -4,101   -4,710
Movement non-current receivables       5,488   -21,924
Movement provisions (including direct equity movements)       -20,712   -15,556
Movement in inventories       -4,635   2,028
Movement trade and other receivables       -64,014   -28,394
Movement trade and other payables       72,505   89,227
Movement due from and due to customers       -14,390   -43,206
Result of associated companies       -2,020   -24,973
Cash generated from operating activities       560,622   598,939
             
Dividends received       729   17,611
Interest received       8,324   5,094
Interest paid       -44,578   -29,975
Income taxes paid       -75,915   -64,210
Net cash from operating activities       449,182   527,459
             
Cash flows from investing activities            
Purchases of intangible assets and property, plant and equipment, excluding recognized borrowing costs       -293,326   -329,205
Proceeds from disposals of property, plant and equipment       35,831   38,173
Net investment in group companies, net of cash acquired       -105,256   -675,146
Disposal of (a part of) group companies, net of cash disposed and loans issued       82,953  
Net investments in associated companies       1,772   -50,383
Net cash used in investing activities       -278,026   -1,016,561
             
Cash flows from financing activities            
Proceeds from loans       529,088   2,194,756
Repayment of loans       -607,195   -1,869,500
Transaction costs relating to the arrangement of credit facilities       -2,149   -17,179
Net investment in non-controlling interests       -19,939  
Dividends paid to the Company's shareholders       -44,686   -44,137
Dividends paid to non-controlling interests       -5,673   -2,031
Net cash used in / from financing activities       -150,554   261,909
             
Net (decrease) / increase in cash and cash equivalents       20,602   -227,193
             
Net cash and cash equivalents as at January 1   [21]   356,269   593,489
             
Net (decrease) / increase in cash and cash equivalents       20,602   -227,193
Currency translation differences       5,722   -10,027
Movement in net cash and cash equivalents       26,324   -237,220
             
Net cash and cash equivalents as at December 31   [21]   382,593   356,269

Added to My report add to My report Source: Annual report 2011, page 67