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CASH FLOW SUMMARY Q4 and Full Year 2020 15 Note: Free cash flow is defined as ‘Cash Flow From Operating Activities’ less ‘Payments for Capital Expenditure’ Simplified Cash Flows $’000 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 FY 2020 EBITDA (48,482) (20,205) 22,093 (12,242) (630) (10,984) Non cash items 2,048 1,393 620 33,379 2,014 37,406 Changes in Working capital 86,203 98,307 11,904 2,484 3,320 116,015 Changes in Accounts Receivables 29,310 83,832 45,537 (4,731) (53,604) 71,034 Changes in Accounts Payable (51,152) (25,504) (4,875) (20,359) (4,667) (55,405) Changes in Inventory 132,493 51,577 (12,471) 3,725 71,754 114,585 Securitization and others (24,448) (11,598) (16,287) 23,849 (10,163) (14,199) Less Cash Tax Payments (523) 10,119 3,522 (633) (1,177) 11,831 Operating cash flow 39,246 89,614 38,139 22,988 3,527 154,268 - Cash-flow from Investing Activities 8,502 (4,352) (4,971) (8,410) (14,207) (31,940) Payments for Capital Expenditure (5,600) (4,606) (5,056) (8,688) (14,220) (32,570) Changes in the scope of consolidation (12,644) - - - - - Others 26,746 254 85 278 13 630 Cash-flow from Financing Activities (114,423) (64,133) (24,508) (19,979) (4,713) (113,333) Bank Borrowings 174,130 - - 8,022 169,571 177,593 Bank Payments (269,400) (44,880) (20,680) (7,800) (161,936) (235,296) Other amounts paid due to financing activities (4,363) 1,147 (2,418) (2,463) (9,444) (13,178) Payment of debt issuance costs (12,319) (1,576) (279) (608) (2,077) (4,540) Interest Paid (2,471) (18,824) (1,131) (17,130) (827) (37,912) Net cash flow (66,675) 21,129 8,660 (5,401) (15,393) 8,995 Total cash * (Beginning Bal.) 188,043 123,175 144,489 153,242 147,425 123,175 Exchange differences on cash and cash equivalents in foreign currencies 1,807 185 93 (416) (475) (613) Total cash * (Ending Bal.) 123,175 144,489 153,242 147,425 131,557 131,557 - Free cash flow1 33,646 85,008 33,083 14,300 (10,693) 121,698
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