for the year ended
Note | 31 December 2012 | 31 December 2011 | |
---|---|---|---|
Net profit for the period | 598,298 | 160,190 | |
Adjustments for: | 244,920 | 210,727 | |
Depreciation, amortization and impairment | 11 | 243,066 | 174,880 |
Payments for film licenses and sports rights | (177,868) | (177,241) | |
Amortization of film licenses and sports rights | 194,521 | 169,455 | |
Loss/(gain) on investing activity | (111) | 1,187 | |
Cost of programming rights sold | 9,244 | 3,747 | |
Interest expense | 205,185 | 171,811 | |
Change in inventories | 16,173 | (3,433) | |
Change in receivables and other assets | (106,816) | (63,732) | |
Change in liabilities, provisions and deferred income | 67,872 | (59,031) | |
Change in internal production and advance payments | 2,093 | 6,513 | |
Valuation of hedging instruments | (31,345) | 5,874 | |
Share of the profit of jointly controlled entity accounted for using the equity method | (2,897) | (2,164) | |
Foreign exchange losses/(gains), net | (111,076) | 170,382 | |
Compensation of income tax receivables with VAT liabilities | - | 6,264 | |
Income tax | 14 | 97,349 | 31,876 |
Net additions of reception equipment provided under operating lease | (164,008) | (229,353) | |
Other adjustments | 3,538 | 3,692 | |
Cash from operating activities | 843,218 | 370,917 | |
Income tax paid | (78,733) | (34,222) | |
Interest received from operating activities | 16,882 | 10,351 | |
Net cash from operating activities | 781,367 | 347,046 | |
Acquisition of property, plant and equipment | (54,937) | (39,241) | |
Acquisition of intangible assets | (36,240) | (26,433) | |
Acquisition of subsidiaries, net of cash acquired | 38 | (45,711) | (2,336,698) |
Proceeds from sale of property, plant and equipment | 751 | 999 | |
Acquisition of bonds | - | (14,684) | |
Prepayment for shares | 27 | - | (12,000) |
Loans granted | (1,100) | - | |
Repayment of loans granted | 1,100 | - | |
Proceeds from interest on loans granted | - | 1 | |
Dividends received | 2,706 | 1,305 | |
Net cash used in investing activities | (133,431) | (2,426,751) | |
Net cash from bank overdraft | - | (18,041) | |
Term loans received | 31 | - | 2,800,000 |
Issuance of Senior Notes | 32 | - | 1,372,245 |
Proceeds from realization of foreign exchange call options | - | 2,480 | |
Repayment of loans and borrowings | 31 | (453,324) | (1,538,844) |
Repayment of interest on Cash Pool | (3,683) | - | |
Finance lease – principal repayments | (335) | (512) | |
Payment of interest on loans, borrowings, bonds, finance lease and commissions | (195,934) | (289,899) | |
Other net financing outflows | (71) | - | |
Net cash from/(used in) financing activities | (653,347) | 2,327,429 | |
Net increase/(decrease) in cash and cash equivalents | (5,411) | 247,724 | |
Cash and cash equivalents at the beginning of the period | 277,534 | 27,615 | |
Effect of exchange rate fluctuations on cash and cash equivalents | (1,769) | 2,195 | |
Cash and cash equivalents at the end of the period | 270,354 | 277,534 |