Consolidated Cash Flow Statement for the year 2021

Note

2021

2020

Operating result

21,443

17,892

Adjusted for:

Amortisation, depreciation and impairment

4, 5

14,611

11,755

Other value adjustments

(20)

114

Changes in provisions

6, 12

(880)

(3,066)

Work in progress

7

5,540

6,222

Receivables

8

(4,898)

22,711

Current liabilities

14

(2,751)

(754)

Changes in working capital

(2,109)

28,179

Cash flows from business operations

33,045

54,874

Interest received

343

500

Dividends received

6

1,670

287

Interest paid

(828)

(755)

Income tax paid

(11,219)

(1,038)

Cash flow from operating activities

23,011

53,868

Investments in:

Intangible fixed assets

4

(3,613)

(2,647)

Tangible fixed assets

5

(5,375)

(5,078)

Financial fixed assets

6

(273)

(61)

Acquisition of group companies

3

(3,991)

(8,107)

Disposals of assets:

Intangible fixed assets

4

-

59

Tangible fixed assets

5

80

284

Financial fixed assets

6

3

26

Cash flow used in investing activities

(13,169)

(15,524)

Sale or (Purchase) of own shares

10

2,653

(2,445)

Repayment of borrowings

13

(101)

(178)

Proceeds from borrowings

14

-

150

Dividends paid to shareholders of the company

10

(409)

(345)

Dividends paid to holders of minority interests

11

(12)

(2)

Cash flow generated from/used in financing activities

2,131

(2,820)

Net cash flow

11,973

35,524

Exchange gains/losses

2,218

(3,205)

Changes in cash and cash equivalents

14,191

32,319

Cash and cash equivalents at January 1

160,084

127,765

Movements during the year

14,191

32,319

Cash and cash equivalents at December 31

174,275

160,084