72 / 113
Consolidated Statement of Cash Flows
for the financial year ended December 31, 2015
(All amounts in thousand Egyptian Pounds)
Note
2015
2014
Cash f lows fromoperating activities
Net (loss) / profit for the year before tax
( 987 390)
236 899
Adjustments for:
Interest expense
596 228
360 888
Depreciation and amortization for the year
(16،17)
320 759
254 724
Provisions movements (net)
( 27)
102 666
43 045
Impairment losses on current assets (net)
93 506
37 820
(Reverse impairment) / Impairment on non current asset held for sale
( 11)
( 21 229)
18 719
ESOP fair value
18 663
18 663
Issuance costs of Share capital
-
( 1 214)
Interest income
( 6)
( 15 965)
( 46 034)
Loans capitalized interest
( 12 459)
( 6 212)
Capital gain - Sale and lease back
-
( 2 677)
Impairment on fixed assets
2 788
1 591
Foreign currency translation losses (Unrealized)
836 632
-
Gain from revaluation of investment properties after development
-
( 87 341)
Loss from sale of property, plant,equipment and assets held for sale
675
3 099
934874
831 970
Changes in:
Inventories
(2 927 403)
( 628 574)
Accounts and notes receivables
(1 041 547)
( 235 699)
Debtors and other debit balances
( 134 390)
( 261 578)
Due from related parties
20 973
( 56 305)
Due to related parties
8 306
2 303
Trade payables and other credit balances
1 007 118
479 457
Cash (used in) / generated fromoperating activities
(2132069)
131 574
Provisions used
( 68 044)
( 13 887)
Income tax paid
( 64 275)
( 68 433)
Dividends paid
( 54 434)
( 46 747)
Net cash (used in) / generated fromoperating activities
(2 318822)
2 507
Cash f lows from investing activities
Acquisition of property, plant, equipment and projects under construc-
tions
(1 385 345)
(1 259 383)
Change of non-controlling interests without changing in control
( 5 929)
( 5 643)
Acquisition of intangible assets
( 843)
( 847)
Interest income received
9 012
45 280
Payment under Investment
( 5 500)
-
Proceeds from sale of property, plant, equipment and assets held for
sale
197 785
21 548
Net cashused in investing activities
(1190820)
(1199045)
Cash f lows fromfinancing activities
Proceeds fromnon controlling interest to increase capital of subsidiar-
ies
14 019
10 678
Proceeds from loans and borrowings
3 498 836
991 298
Proceed fromcapital increase
( 21)
-
449 994
Interest paid
( 561 130)
( 349 101)
Net cashgenerated fromfinancing activities
2951 725
1 102869
Net decrease incashand cashequivalents
(557 917)
(93 669)
Cash and cash equivalents at the beginning of the year
1 188 704
1 177 577
Effect of movements in exchange rates on cash and cash equivilants
held
594 513
104 796
Cashand cashequivalents at endof the year
(14-B)
1 225 300
1 188 704
*Theaccompanyingnotes forman integral part of these consolidatedfinancial statements, and tobe read therewith.
2016 ANNUAL REPORT
70