Consolidated Annual Statement of cash flows
for the year ended 31 December 2021
| Notes | 2021 BGN’000 | 2020 BGN’000 | |
|---|---|---|---|
| Cash flows from operating activities | |||
| Cash receipts from customers | 1 656 161 | 1 376 047 | |
| Cash paid to suppliers | (1 504 805) | (1 341 304) | |
| Cash paid to employees and for social security | (146 239) | (129 085) | |
| Taxes paid (except income taxes) | (74 454) | (74 451) | |
| Taxes refunded (except income taxes) | 9 434 | 10 973 | |
| Income taxes paid | (7 937) | (7 947) | |
| Income taxes refunded | 43 | 78 | |
| Interest and bank charges paid on working capital loans | (6 600) | (9 195) | |
| Foreign currency exchange gains/(losses), net | (548) | (2 271) | |
| Other proceeds/(payments), net | (1 018) | (2 256) | |
| Net cash flows used in operating activities | (75 963) | (179 411) | |
| Cash flows from investing activities | |||
| Purchases of property, plant and equipment | (20 349) | (23 552) | |
| Proceeds from sales of property, plant and equipment | 1 055 | 1 770 | |
| Purchases of investment property | — | (429) | |
| Proceeds from sales of investment property | 1 952 | — | |
| Purchases of intangible assets | (6 761) | (3 032) | |
| Purchases of equity investments | 20 | (22 338) | (5 262) |
| Proceeds from sales of equity investments | 2 040 | 56 | |
| Proceeds from dividends on equity investments | 451 | 325 | |
| Payments on acquisition of subsidiaries, net of cash received | 46 | (2 338) | 877 |
| Proceeds from disposal of subsidiaries, net of the cash provided | 47 | (1 152) | 71 |
| Purchases of investments in associates and joint ventures | 19 | (20 800) | — |
| Proceeds from sale of investments in associates and joint ventures | 213 | 1 | |
| Proceeds/(payments) on transactions with non-controlling interests, net | (8 421) | (4 715) | |
| Loans granted to related parties | (8 010) | (4 532) | |
| Loan repayments by related parties | 10 795 | 37 151 | |
| Loans granted to third parties | (1 367) | (1 145) | |
| Loan repayments by third parties | 4 129 | 2 091 | |
| Interest received on loans and deposits | 2 806 | 1 820 | |
| Proceeds from guarantorship contracts | 30 | - | |
| Net cash flows used in/from investing activities | (68 065) | 1 495 | |
| Cash flows from financing activities | |||
| Proceeds from short-term bank loans (including increases in overdrafts) | 19 554 | 14 407 | |
| Repayment of short-term bank loans (including decreases in overdrafts) | (27 145) | (35 683) | |
| Proceeds from long-term bank loans | 16 834 | 13 576 | |
| Repayment of long-term bank loans | (19 405) | (20 241) | |
| Loans received from third parties | — | 273 | |
| Repayment of loans to third parties | — | (365) | |
| Proceeds under factoring agreement | 193 905 | 243 935 | |
| Interest and charges paid under factoring agreement | (568) | (428) | |
| Interest and charges paid under investment purpose loans | (1 994) | (1 732) | |
| Lease payments | (20 477) | (16 790) | |
| Proceeds from non-controlling interest in the issue of equity in subsidiaries | — | 38 | |
| Purchases of treasury shares | (16 628) | (463) | |
| Proceeds from sales of treasury shares | — | 805 | |
| Dividends paid | (63) | (22 643) | |
| Government grants | 81 | 1 004 | |
| Proceeds/(payments) related to other equity components (warrants), net | 12 512 | — | |
| Net cash flows from financing activities | 156 606 | 175 693 | |
| Net increase/(decrease) in cash and cash equivalents | 12 578 | (2 223) | |
| Cash and cash equivalents at 1 January | 25 139 | 27 362 | |
| Cash and cash equivalents at 31 December | 27 | 37 717 | 25 139 |