Tiscali 2001 Annual Report Download - page 162

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FINANCIAL STATEMENTS (FLOWS)
154
CASH FLOWS GENERATED FROM OPERATIONS 12.31.2001 12.31.2000
Net loss for the financial year (1,041,208) (101,002)
Adjustments for accounts not affecting cash flow
Depreciation and amortization 15,055 6,858
Provision to staff severance indemnity reserve 1,148 608
Staff severance indemnities paid during the period (84) (68)
Provision (use) of reserve for risks and future liabilities 10,511 (1,014,579) 12,480 (81,124)
Changes in current assets and liabilities
Amounts due from customers (67,941) (101,036)
Other receivables 715 (9,251)
Inventories 1,013 (1,373)
Accrued income and deferred charges (2,306) 360
Trade accounts payable (4,514) 34,792
Other liabilities 418,732 55,293
Accrued liabilities and deferred income 7,299 (2,214)
Reserve for taxes payable 441 380,070 257 (3,294)
Cash flows generated from operations (661,138) (104,296)
CASH FLOWS FROM INVESTMENT ACTIVITY
Net book value of assets sold 6
Purchase of fixed assets (12,417) (3,622)
Increases in intangible assets (29,025) (18,101)
Reduction (increase) in other non-current assets 152,946 111,504 (2,248,953) (2,270,670)
CASH FLOWS FROM FINANCING ACTIVITY
New loans 130
Reimbursement of loans
Capital increases 546,798 2,250,448
Dividends paid
Reduction (increase) in other non-current assets (1,929) 544,998 13,928 2,264,376
INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS (4,635) (110,590)
CASH AND CASH EQUIVALENTS – OPENING BALANCE (9,714) 100,070
CASH AND CASH EQUIVALENTS – CLOSING BALANCE (14,350) (9,714)