The cash flow statement has been prepared using the indirect method, using data on the cash flows from clearing activities and the cash flows from operating, investment and financing activities.
Cash flows from operating activities
The cash flows from operating activities have been calculated using the indirect method. The following table summarises the adjustments to the cash flows from operating activities. Generally speaking, these adjustments concern non-cash flow items.
|
Ref. |
2008 |
2007 |
|
|
Profit for the year |
52,182 |
54,380 |
|
|
Adjustments for: |
|||
|
- Corporation tax included in the result |
17,731 |
17,275 |
|
|
- Depreciation of assets |
69,536 |
61,414 |
|
|
- Disposals of assets |
744 |
19 |
|
|
- Impairments |
11,678 |
3 |
|
|
- Withdrawal of auction receipts and investment contributions |
-/- 21,972 |
844 |
|
|
- Amortisation of investment contributions |
-/- 9,066 |
-/- 2,955 |
|
|
- Amortisation of ground lease charges paid in advance |
|
331 |
303 |
|
- Amounts settled or to be settled in tariffs |
-/- 13,894 |
1,035 |
|
|
- Change in long-term provisions |
47,942 |
-/- 999 |
|
|
- Adjustment to the fair value of financial instruments |
|
2,122 |
-/- 3,129 |
|
- Interest expenses |
36,141 |
32,829 |
|
|
- Interest income |
-/- 12,894 |
-/- 10,064 |
|
|
- Recognition of financial instruments |
-/- 7,264 |
1,185 |
|
|
- Change in value of (minority) participating interests |
|
-/- 878 |
-/- 4,123 |
|
- Change to minority interest due to sale |
2,956 |
- |
|
|
123,213 |
93,637 |
||
|
Movement in working capital: |
|||
|
- Inventory |
494 |
381 |
|
|
- Receivables (excluding MEP grant funds receivable) |
|
-/- 149,623 |
-/- 10,776 |
|
- Other receivables and liabilities |
193,128 |
-/- 11,301 |
|
|
43,999 |
-/- 21,696 |
||
|
219,394 |
126,321 |
||
|
|
|