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LISI 2011 —
72
— financial report
Company financial statements
2.3
Cash flow movement table
(In €’000)
2011
2010
2009
Operating activities
Operating cash flow
13,440
8,193
16,557
Effect of changes in inventory on cash
Effect of changes in accounts receivable and accounts payable
(12,850)
12,882
(5,399)
Cash provided by or used for operations (A)
590
21,075
11,158
Investment operations
Cash used to acquire tangible and intangible assets
(97)
(7)
(49)
Cash received from the disposal of tangible and intangible assets
5
797
Cash used to acquire financial assets
Cash received from the disposal of financial assets
5
Net cash used for acquisitions and disposals of subsidiaries
31,920
Cash payments and collections from loans to subsidiaries
4,616
3,313
1,299
Cash provided by or used for investing activities (B)
36,444
4,108
1,251
Financing operations
Cash received from shareholders as part of a capital increase
1,015
Dividends paid to shareholders of the parent company
(10,913)
(7,216)
(12,313)
Cash received from new loans
82,384
268
10,295
Repayment of loans
(5,273)
(5,295)
(5,812)
Cash provided by or used for financing activities (C)
66,198 (11,227)
(7,830)
Effect of change in foreign exchange rates (D)
Changes in cash (A+B+C+D) *
103,232
13,956
4,579
Cash at January 1
st
(E)
57,995
44,039
39,460
Cash at December 31
st
(A+B+C+D+E)
161,227
57,995
44,039
Marketable securities
64,445
73,580
79,330
Cash, subsidiaries’ current accounts
151,766
41,022
42,644
Banking facilities, subsidiaries’ current accounts
(54,984)
(56,607)
(77,935)
Closing cash position **
161,227
57,995
44,039
* The overall change in cash position corresponds to the total of net cash flows generated by the various categories: operations, investment, and financing.
** The cash position is the algebraic sum of the balance sheet assets and liabilities.