Electrabel COM - Consolidated cash flow statement


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Consolidated cash flow statement

In Euro million	2006	2005
Cash and cash equivalents opening balance (a)	7 379	4 711
Cash and cash equivalents closing balance (b)	4 437	7 379
Change in Cash and cash equivalents (c)=(b)-(a)	- 2 942	2 668
Net total profit (d)	2 304	2 083
-Share of the profit of investments accounted for using the 'equity'-method	- 325	- 475
+Dividends received from investments accounted for using the equity method	319	473
+Depreciation and provisions	413	490
-Net gain (loss) from the disposal of assets	- 595	- 822
+Fair value of commodity financial instruments	- 117	146
+Other non-cash elements	6	3
+Financial result	27	121
+Income taxes	266	219
=Gross margin for auto financing before result of financing activities and taxes (e)	2 298	2 238

-Income taxes paid	- 262	- 240
+Movement in working capital	- 645	466
=Cash flows from operating activities (f)	1 391	2 464

Acquisition of property, plant and equipment and intangible assets ( including capitalised borrowing costs )	- 606	- 956
Acquisition of entities (after deducting cash acquired )	- 632	- 311
Acquisition of available-for-sale investments	- 11	- 43
Disposal of property, plant and equipment and intangible assets	83	263
Disposal of entities (after deduction of transferred cash)	1 289	468
Disposal of available-for-sale investments	93	181
Changes in receivables related to investments and restricted cash	- 2 653	383
Interests and dividends received in relation to non-current financial assets	173	146
=Cash flows from investing activities (g)	- 2 264	131

Dividends paid	- 1 982	-1 080
Changes in financial debts	-55	1 110
Change in short-term securities	- 32	-
Financial interests paid	- 169	- 155
Interest received on cash and cash equivalents	170	125
Change in share capital of subsidiaries	-	49
Cash flows from financing activities (h)	- 2 068	49

Effects of foreign exchange rate changes and miscellaneous (i)	- 1	24

Total change (f)+(g)+(h)+(i)	- 2 942	2 668