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2018 Financial and Social Report

Consolidated Cash Flow Statement

A. Cash flows from operating activities
Amount ‘000 PLN 1.01.2018 -31.12.2018 1.01.2017 -31.12.2017
Profit (loss) after taxes 760 651 681 227
Total adjustments: 3 494 629 1 777 741
Interest received 2 593 317 2 400 638
Interest paid (699 306) (689 890)
Depreciation and amortization 54 227 52 971
Foreign exchange (gains)/ losses 33 933 (107 096)
Dividends (2 601) (2 612)
Changes in provisions 20 871 18 337
Result on sale and liquidation of investing activity assets (30 375) (41 830)
Change in financial assets held for trading 196 495 (1 080 043)
Change in loans and advances to banks (133 802) 971 458
Change in loans and advances to customers (7 528 450) (2 140 325)
Change in receivables from securities bought with sell-back clause (loans and advances) (255 869) 83 502
Change in financial liabilities valued at fair value through profit and loss (held for trading) 241 480 (1 121 705)
Change in deposits from banks (806 792) 1 048 227
Change in deposits from customers 9 625 190 2 021 164
Change in liabilities from securities sold with buy-back clause 61 908 14 052
Change in debt securities 4 323 74 126
Change in income tax settlements 267 335 253 764
Income tax paid (292 306) (286 302)
Change in other assets and liabilities 143 517 299 138
Other 1 534 10 167
Net cash flows from operating activities 4 255 280 2 458 968

 

 

B. Cash flows from investing activities
Amount ‘000 PLN 1.01.2018 -31.12.2018 1.01.2017 -31.12.2017
Inflows: 193 300 916 149 968 708
Proceeds from sale of property, plant and equipment and intangible assets 14 301 28 924
Proceeds from sale of shares in related entities 0 0
Proceeds from sale of investment financial assets 193 284 014 149 937 172
Other 2 601 2 612
Outflows: (201 305 530) (149 388 237)
Acquisition of property, plant and equipment and intangible assets (46 096) (75 651)
Acquisition of shares in related entities 0 0
Acquisition of investment financial assets (201 259 434) (149 312 586)
Other 0 0
Net cash flows from investing activities (8 004 614) 580 471

 

 

C. Cash flows from financing activities
Amount ‘000 PLN 1.01.2018 -31.12.2018 1.01.2017 -31.12.2017
Inflows from financing activities: 730 687 1 371 570
Long-term bank loans 730 687 342 136
Issue of debt securities 0 329 434
Increase in subordinated debt 0 700 000
Net proceeds from issues of shares and additional capital paid-in 0 0
Other inflows from financing activities 0 0
Outflows from financing activities: (868 917) (1 384 739)
Repayment of long-term bank loans (501 432) (205 615)
Redemption of debt securities (329 385) (529 076)
Decrease in subordinated debt 0 (629 625)
Issue of shares expenses 0 0
Redemption of shares 0 0
Dividends paid and other payments to owners 0 0
Other outflows from financing activities (38 100) (20 423)
Net cash flows from financing activities (138 230) (13 169)

 

D. Net cash flows. Total (A + B + C) (3 887 564) 3 026 270
– including change resulting from FX differences 4 424 (9 514)
E. Cash and cash equivalents at the beginning of the reporting period 8 408 252 5 381 982
F. Cash and cash equivalents at the end of the reporting period (D + E) 4 520 688 8 408 252

 

In 2018, the Group changed the presentation format of the data in the Statement of cash flows by allocating in the operating activities additional items presenting interest paid and received, comparative data for 2017 were adjusted accordingly.

Additional information regarding cash flows statement is presented in chapter “Supplementary information”.

Information on liabilities classified as financing activities is presented in chapter “Notes to the Consolidated Financial Report”.