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CASH FLOW SUMMARY 14 Operating cash flow was negative in the quarter driven by the significant investment in working capital. Simplified Cash Flows $’000 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 EBITDA (12,242) (630) (18,898) 31,943 35,231 Non-cash items 1 33,379 2,014 36,563 65 1,250 Changes in Working capital 2,484 3,320 668 7,003 (71,518) Changes in Accounts Receivables (4,731) (53,604) (41,692) (8,625) (27,683) Changes in Accounts Payable (20,359) (4,667) 26,152 16,184 9,138 Changes in Inventory 3,725 71,754 11,446 (8,770) (51,835) Securitization and others 23,849 (10,163) 4,762 8,214 (1,138) Less Cash Tax Payments (633) (1,177) (57) (1,178) 359 Operating cash flow 22,988 3,527 18,277 37,833 (34,677) Cash-flow from Investing Activities (8,410) (14,207) (9,134) (43,571) (8,168) Cash-flow from Financing Activities (19,979) (4,713) (56,243) 27,379 31,952 Bank Borrowings 8,022 169,571 127,690 149,945 159,861 Bank Payments (7,800) (161,936) (157,464) (144,983) (158,118) Other amounts paid due to financing activities (2,463) (9,444) (2,856) (3,157) (2,602) Payment of debt issuance costs (608) (2,077) (6,598) (11,093) (26,060) Proceeds from equity issuance - - - - 40,000 Proceeds from debt issuance - - - 40,000 20,000 Interest Paid (17,130) (827) (17,015) (3,333) (1,125) Net cash flow (5,401) (15,393) (47,100) 21,641 (10,893) Total cash * (Beginning Bal.) 153,242 147,425 131,557 84,367 106,089 Exchange differences on cash and cash equivalents in foreign currencies (416) (475) (90) 81 (153) Total cash * (Ending Bal.) 147,425 131,557 84,367 106,089 95,043 Free cash flow1 14,300 (10,693) 9,108 (6,409) (42,866) Notes: Non-cash items primarily relate to the restructuring process associated to the footprint optimization program
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