CONSOLIDATED STATEMENT OF CASH FLOWS
in PLN millions, unless otherwise stated
| from 1 January 2022 to 31 December 2022 | from 1 January 2021 to 31 December 2022 |
||
|---|---|---|---|
| Cash flow from operating activities | |||
| Profit before income tax | 6 489 | 7 824 | |
| Note 9.3 | Depreciation/amortisation recognised in profit or loss | 2 239 | 2 123 |
| Note 6.2 | Gain due to the reversal of allowances for impairment of loans granted to a joint venture | (873) | (2 380) |
| Note 6.2 | Interest on loans granted to a joint venture | (582) | (494) |
| Other interest | 30 | 120 | |
| Impairment losses on property, plant and equipment and intangible assets | 147 | 378 | |
| Other gains on reversal of impairment losses on property, plant and equipment and intangible assets | (3) | (44) | |
| Gains on disposal of property, plant and equipment and intangible assets | (108) | (58) | |
| Note 9.8 | Gain on disposal of subsidiaries | (180) | – |
| Exchange differences, of which: | (661) | (446) | |
| from investment activities and cash | (838) | (744) | |
| from financing activities | 177 | 298 | |
| Change in provisions for decommissioning of mines, liabilities related to future employee benefits programs and other provisions | (56) | 30 | |
| Change in other receivables and liabilities other than working capital | (133) | 610 | |
| Change in assets and liabilities due to derivatives | (353) | (1 921) | |
| Note 7.2 | Reclassification of other comprehensive income to profit or loss due to the realisation of hedging derivatives | 492 | 2 030 |
| Note 12.8 | Other adjustments | 29 | 1 |
| Exclusions of income and costs, total | (12) | (51) | |
| Income tax paid | (1 696) | (740) | |
| Note 10.4 | Changes in working capital, including: | (2 317) | (2 767) |
| change in trade payables transferred to factoring | (77) | (1 114) | |
| Net cash generated from operating activities | 2 464 | 4 266 | |
| Cash flow from investing activities | |||
| Note 9.1.3 | Expenditures on mining and metallurgical assets, including: | (3 678) | (3 383) |
| Note 8.4.2 | paid capitalised interest on borrowings | (214) | (122) |
| Expenditures on other property, plant and equipment and intangible assets | (440) | (507) | |
| Expenditures on financial assets designated for decommissioning of mines and other technological facilities | – | (24) | |
| Advances granted on property, plant and equipment and intangible assets | (14) | (14) | |
| Proceeds from financial assets designated for decommissioning of mines and other technological facilities | 26 | – | |
| Proceeds from repayment of loans granted to a joint venture (principal) | 358 | – | |
| Proceeds from disposal of property, plant and equipment and intangible assets | 394 | 98 | |
| Proceeds from disposal of subsidiaries | 243 | – | |
| Proceeds from disposal of equity instruments measured at fair value through other comprehensive income | – | 53 | |
| Interest received on loans granted to a joint venture | 431 | 1 259 | |
| Other | (15) | (8) | |
| Net cash used in investing activities | (2 695) | (2 526) | |
| Cash flow from financing activities | |||
| Note 8.4.2 | Proceeds from borrowings | 677 | 358 |
| Proceeds from derivatives related to sources of external financing | 130 | 36 | |
| Note 8.4.2 | Repayment of received borrowings | (425) | (2 078) |
| Note 8.4.2 | Repayment of lease liabilities | (59) | (67) |
| Expenditures due to derivatives related to sources of external financing | (89) | (79) | |
| Interest paid, including: | (92) | (94) | |
| Note 8.4.2 | due to borrowings | (89) | (85) |
| Dividends paid to shareholders of the Parent Entity | (600) | (300) | |
| Other | 12 | 24 | |
| Net cash used in financing activities | (446) | (2 200) | |
| NET CASH FLOW | (677) | (460) | |
| Exchange gains/(losses) | (27) | (158) | |
| Cash and cash equivalents at beginning of the period | 1 904 | 2 522 | |
| Cash and cash equivalents at end of the period, including: | 1 200 | 1 904 | |
| Note 9.8 | recognised in assets held for sale (disposal group) | – | 20 |
| restricted cash | 21 | 24 |