|
|
|
|
|
| | Cash Flow Statements |
| |
Numbers are in Saudi Riyals Thousands or in SR 000’s
| |
2008 |
2007 |
| Cash flows from
operating activities: |
|
|
| Net income |
202,358 |
1,230,024 |
| Adjustments to reconcile net income to net cash
provided by operating activities: |
| Depreciation, amortisation and impairment |
809,237 |
403,373 |
| (Gain) on sale of property, plant and equipment |
(2,810) |
(1,439) |
| (Gains) on disposal of investments |
(147,980) |
(1,107,735) |
| Financial charges |
153,658 |
33,326 |
| Share of minority interests in net income of consolidated subsidiaries |
(32,330) |
107,858 |
| Changes in operating assets and liabilities: |
|
|
| Trade receivables |
(178,732) |
(43,516) |
| Inventories |
(657,776) |
(731,153) |
| Prepayments and other current assets |
(373,947) |
(173,845) |
| Trade payables |
262,104 |
829,385 |
| Accrued expenses and other current liabilities |
404,658 |
303,958 |
| Employees’ termination benefits |
33,236 |
36,702 |
| Total adjustments |
269,318 |
(343,086) |
| Net cash provided by operating activities |
471,676 |
886,938 |
| Cash flows from
investing activities
: |
|
|
| Effect on cash flows due to deconsolidation of a subsidiary |
--- |
(140,750) |
| Additions to investments |
(2,207,749) |
(2,799, 122) |
| Proceeds from sale of investments |
1,336,352 |
1,778,626 |
| Net change in other investments |
(35,974) |
(18,705) |
| Net change in intangible assets |
(506,924) |
(130,189) |
| Addition to property, plant and equipment |
(1,009,902) |
(1,242,634) |
| Proceeds from sale of property, plant and equipment |
72,734 |
4,559 |
| Net cash (used in) provided by investing activities |
(2,351,463) |
(2,548,215) |
| Cash flows from
financing activities
|
|
|
| Net change in short-term bank debts |
1,979,508 |
(143,050) |
| Net change in long-term debts |
656,927 |
(62,593) |
| Net changes in minority interests |
162,131 |
(100,399) |
| Financial charges |
(153,658) |
(33,326) |
| Net change in restricted deposits against financing |
3,347 |
69,490 |
| Dividends paid |
(494,770) |
(558,802) |
| Net cash (used in) provided by financing activities |
2,153,485 |
(828,680) |
| Net change in cash and cash equivalents |
273,698 |
(2,489,957) |
| Cash and cash equivalents at beginning of the year |
330,129 |
2,820,086 |
| Cash and cash equivalents at end of the year |
603,827 |
330,129 |
| Supplemental
schedule of non-cash information |
|
|
| Unrealized gains (loss) on available-for-sale investments |
(578,182) |
396,907 |
| Foreign currency translation adjustments |
(68,845) |
(11,221) |
| Directors’ remuneration |
2,200 |
2,300 |
|
|
|
