| |
|
Cash flow from operation
|
Amounts
in EURO |
|
Operating cash inflow
|
|
|
Turnover (sales)
|
385,476,583.25 |
|
Sundry income
|
403,399.56 |
|
Extraordinary income
|
16,282,243.03 |
|
Prior year income
|
876,636.08 |
|
Interest income
|
2,577,779.09
|
|
Income from securities
|
45,785.00
|
|
Less:
|
|
|
Increase in securities
|
5,311.37
|
|
Increase in debtors
|
2,704,055.44
|
|
Total operating cash inflow
|
402,953,059.20
|
|
|
|
|
Operating cash outflow
|
|
|
Cost of sales
|
219,222,120.42
|
|
Administration expenses
|
17,247,816.57
|
|
Operation and distribution expenses
|
48,568,860.34
|
|
Other expenses
|
13,403,563.71
|
|
Increase in prepayments and accrued income
|
|
|
Deduction in deferred income and accrued expenses
|
13,983,581.68
|
|
Deduction in current liabilities (except banks)
|
5,087,575.84
|
|
Less:
|
|
|
Deduction in inventories
|
43,706.98
|
|
Deduction in prepayments and accrued income
|
79,278.39
|
|
Increase in deferred income and accrued expenses
|
|
|
Increase in current liabilities (except banks)
|
|
|
Total operation cash outflow
|
317,390,533.19
|
|
|
|
|
Tax cash outflow
|
|
|
Income taxes
|
430,207.62
|
| Deduction in liabilities due to taxes |
125,848.00 |
|
Less:
|
|
|
Increase in liabilities due to taxes
|
233,523.09 |
|
Total tax cash outflow
|
322,532.53
|
|
|
|
|
Cash flow from operation
|
85,239,993.48
|
|
|
|
|
Cash flow from investment activities
|
|
|
Investment cash inflow
|
|
|
Sale of intangible assets
|
|
|
Sale of tangible assets
|
43,363,447.82
|
| Reserves from value adjustments of other assets Government grants |
65,514,993.00 |
|
Deduction in participations
|
284,953.39 |
| Deduction in long term receivables |
1,163,115.52 |
|
Income from investment in subsidiaries
|
851,363.65
|
| Interest income |
|
|
Total investment cash inflow
|
111,177,873.38
|
| |
|
| Investment cash outflow |
|
|
Increase in tangible assets
|
2,149,199.74
|
| Reserves from value adjustments of other assets Government grants |
65,514,993.00 |
|
Increase in long term receivables
|
|
|
Increase in establishment expenses
|
1,278,109.88
|
|
Total investment cash outflow
|
68,942,302.62
|
|
|
|
|
Cash flow from investment activities
|
42,235,570.76
|
|
|
|
|
Cash flow from financial activities
|
|
|
Cash inflow
|
|
|
Revenue from increase in paid up capital and share premium account
|
|
|
Revenue from revaluation reserve
|
|
|
Increase in long term liabilities
|
|
|
Increase in current portion of long term loans
|
58,780,592.18
|
|
Total cash inflow
|
58,780,592.18
|
| |
|
|
Cash outflow
|
|
|
Deduction in long term liabilities
|
140,241,438.01
|
|
Deduction in short term liabilities (bank accounts)
|
6,210.26
|
|
Debit interest
|
39,599,940.74
|
|
Dividend paid
|
4,723,269.34
|
|
Director's fees from net profit
|
55,000.00
|
|
Total cash outflow
|
184,625,858.35
|
| |
|
|
Cash flow from financial activities
|
-125,845,266.17
|
| |
|
|
GROUP CASH FLOW
|
1,630,298.07
|
|
PLUS: CASH AND BANKS 1/1/2003
|
150,474,483.70
|
|
CASH AND BANKS 31/12/2003
|
152,104,781.77
|
|
|
|
|
Voula , 17 February, 2004
|
| |
Pericles S. Panagopulos
Chairman
of the Board of Directors |
Charalambos N. Zavitsanos
Director
of the Board of Directors |
Nikolaos I. Tapiris
Financial Director |
| |
|
REPORT OF THE CERTIFIED PUBLIC ACCOUNTANTS
|
| |
|
We have audited the above Consolidated Cash Flow Statement of ATTICA ENTERPRISES HOLDINGS S.A. and its subsidiaries for the year ended 31 December 2003 which has been prepared based on the Audited Consolidated Financial Statements for which we have issued our Audit Report on 18 February 2004. In our opinion, the abovementioned Consolidated Cash Flow Statement presents the Cash outflow and inflows of the activities for the year of all the companies which are included in the consolidation of 31 December 2003.
|
| |
|
Athens, 18 February, 2004
|
|
The Certified Public Accountants
|
|
Kyriakos Papakyriakou, FCCA, CA (GR)
|
|
DRM STYLIANOY S.A.
|
|
A Member Firm of RSM International
|
|
