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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
CASH FLOW STATEMENT FOR THEYEAR ENDED
31 DECEMBER 2011 AND 2010
Thousand of euros
NOTES
2011
2010
CASH FLOW FROM OPERATING ACTIVITIES
Profit before tax
148,282
115,662
Adjustments to profit
196,939
137,963
Depreciation and amortisation
5.6
230,818
149,140
Impairment losses
6.7
22,388
89,035
Changes in provisions
9,314
(29,143)
Finance income
(70,420)
(73,723)
Finance costs
4,839
2,654
Change in working capital
9
(19,679)
1,186
Inventories
3,983
4,272
Trade and other receivables
131,563
(16,086)
Other current assets
(55,537)
936
Trade and other payables
(99,712)
12,083
Other current liabilities
24
11
Other cash flows from operating activities
19
52,639
41,274
Interest paid
(4,839)
(2,654)
Dividends received
63,541
68,900
Interest received
6,879
4,823
Income tax receipts (payments)
(12,942)
(29,795)
CASH FLOWS FROM OPERATING ACTIVITIES
378,181
296,085
CASH FLOWS FROM INVESTING ACTIVITIES
Payments on investments
(361,950)
(733,853)
Group companies and associates
(164,474)
(65,344)
Intangible assets
(157,790)
(137,119)
Property, plant and equipment
(12,678)
(5,883)
Other financial assets
(27,008)
(30,031)
Other assets
-
(337)
Acquisition /increase in equity investments
-
(495,139)
Proceeds from disposal
77,286
19,657
Group companies and associates
-
17,006
Intangible assets
1,645
136
Property, plant and equipment
5
287
45
Other financial assets
75,354
2,470
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