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CHAPTER 5

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2007

ASSETS Note 2007 2006 Restated

Operating activities

Profit for the year before tax 125.741.802 94.597.051

Adjustments for: 7.56.57 7.6.410
9.05.416 1.888.674
Depreciation & amortisation expenses 4. 64.701.768
70.790.18
Impairment of financial assets 4.,4.15 (847.9) 66.018
85.86 867.7
Net financial expenses 4.4 585.79 (.04.15)
(76.958) (501.78)
(Gain)/loss on fixed asset disposals 4.8,4.9,4.10 .596.919 (5.44.566)
238.134.739
Increase/(decrease) in retirement benefits 4. 281.538.541 (1.88.5)
(.669.014) (86.559.646)
Increase/(decrease) in provisions 4.4 (66.46.478) 137.692.740
192.433.049
Increase/(decrease) in other assets/liabilities (10.01.5)
(15.018.154) 4.84.070
Increase/(decrease) in working capital 9.1.05 86.565
7.954 0
Cash generated from operations 167.748
(5.730.617)
Income tax paid 4.5 (5.599.247)
(9.500.000)
Interest paid 4.4 (55.500.000) (76.6.411)
(78.970.61)
Net cash flow from operating activities (71.099)
(59.577) (106.493.510)
Investment activities (134.830.189)
25.468.613
Acquisition of fixed assets 4.8,4.9,4.10 52.003.613
99.326.671
Interest received 4.4 124.795.284
124.795.284
Proceeds from disposal of fixed assets 4.8,4.9,4.10 176.798.897

Dividends received from AFS investments

Net cash flow from investment activities

Financial activities

Dividends paid 4.0

Repayment of bank loans 4.

Repayment of finance lease obligations 4.6,4.8

Net cash flow from financial activities

Net increase/(decrease) in cash &
cash equivalents

Cash & cash equivalents at
the beginning of the year

Cash & cash equivalents at
the end of the year

The notes on pages 16 to 64 are an integral part of these financial statements.
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