Cash flow statement






in EUR



Triglav Group

Zavarovalnica Triglav



2016

2015

2016

2015

A.OPERATING CASH FLOW

 

 

 

 


Income statement items

35,691,434

42,999,877

12,967,999

16,107,815


Net written premium for the period

882,520,102

864,087,543

514,620,613

513,800,327


Investment income (excluding financial income) arising from:

20,342,436

23,128,875

11,735,662

10,324,541


– insurance technical provisions

17,982,634

18,790,181

10,954,540

9,049,652


– other sources

2,359,802

4,338,694

781,122

1,274,889


Other operating income (excluding revaluation and provisions reductions) operating revenues and financial income from operating receivables

46,483,550

87,244,476

11,428,031

10,821,508


Net claims paid

-592,586,186

-579,929,702

-370,556,953

-365,648,601


Bonuses and rebates paid

-9,655,595

-8,755,172

-7,430,852

-6,827,769


Net operating expenses excluding depreciation charge and changes in the accrued acquisition expenses

-212,539,933

-206,757,504

-117,604,669

-117,067,400


Investment expenses (excluding financial expenses) arising from:

-8,550,474

-11,315,678

-5,246,499

-5,105,506


– technical sources

-6,770,985

-9,686,605

-3,532,493

-3,771,413


– other sources

-1,779,489

-1,629,073

-1,714,006

-1,334,094


Other operating expenses excluding depreciation charge (except for revaluations and without increasing provisions)

-76,933,187

-111,551,659

-14,894,803

-14,998,771


Corporate income tax and other taxes excluded from operating expenses

-13,389,279

-13,151,302

-9,082,531

-9,190,515








Changes in net current assets-operating balance sheet items

6,094,910

803,846

4,049,554

-363,333


Movements in receivables from insurance operations

-1,284,824

3,541,796

-821,906

2,939,770


Movements in receivables from reinsurance operations

14,254,438

-7,536,232

4,681,101

-5,529,573


Movements in other receivables from (re)insurance operations

-228,375

1,565,734

-308,923

1,027,606


Movements in other receivables and assets

3,970,832

-224,162

2,473,307

4,069,321


Movements in deferred tax assets

-206,566

-804,674

0

0


Movements in inventories

54,976

84,183

22,093

-12,408


Movements in debts from direct insurance operations

-1,039,716

625,323

216,761

353,782


Movements in debts from reinsurance operations

-10,862,237

-1,376,254

1,242,990

-141,916


Movements in operating debts

2,240,426

1,885,269

-42,549

-5,534


Movements in other liabilities (excluding unearned premiums)

-901,051

2,741,879

-3,413,320

-3,064,382


Movements in deferred tax liabilities

97,007

300,984

0

0








Operating cash flow

41,786,344

43,803,723

17,017,553

15,744,482







B.CASH FLOWS FROM INVESTING ACTIVITIES




Cash inflows from investing activities

1,363,785,772

2,302,278,368

1,065,220,751

1,805,247,899


Cash inflows from interest from investing activities and from:

58,759,633

67,151,983

41,148,157

50,165,758


– investment financed by insurance technical provisions

55,236,944

61,537,414

38,966,380

45,768,746


– other investment

3,522,689

5,614,569

2,181,777

4,397,012


Cash inflows from dividends received and profit sharing, arising from:

4,848,278

3,135,771

12,410,440

21,602,500


– investment financed by insurance technical provisions

2,295,868

2,408,062

2,119,518

2,259,877


– other investment

2,552,410

727,709

10,290,922

19,342,622


Cash inflows from the disposal of intangible assets financed by:

100,000

10,359

0

79


– insurance technical provisions

100,000

12

0

0


– other sources

0

10,347

0

79


Cash inflows from the disposal of property, plant and equipment financed by:

20,761,444

1,803,944

3,100,205

669,421


– insurance technical provisions

3,037,322

219,801

2,995,244

0


– other sources

17,724,122

1,584,143

104,961

669,421


Cash inflows from the disposal of non-current investments financed by:

713,288,655

1,152,378,631

618,052,575

1,018,084,174


– insurance technical provisions

662,736,984

1,038,404,051

576,489,033

930,141,531


– other sources

50,551,671

113,974,580

41,563,542

87,942,642


Cash inflows from the disposal of current investments financed by:

550,546,686

1,071,335,380

376,319,659

711,419,432


– insurance technical provisions

476,832,796

930,195,544

351,015,928

657,111,528


– other sources

73,713,890

141,139,836

25,303,731

54,307,904


Cash inflows from the disposal of investments in subsidiaries and associates financed by:

15,481,076

6,462,300

14,189,715

3,306,536


– insurance technical provisions

0

0

0

0


– other sources

15,481,076

6,462,300

14,189,715

3,306,536








Cash outflows from investing activities

-1,329,853,353

-2,267,948,841

-1,004,173,370

-1,751,691,675


Cash outflows for the purchase of intangible assets

-6,990,545

-6,042,661

-5,968,630

-4,806,757


Cash outflows for the purchase of property, plant and equipment financed by:

-6,137,586

-11,541,075

-3,407,363

-23,055,493


– insurance technical provisions

-393,401

-1,281,534

-269,987

-18,512,765


– other sources

-5,744,185

-10,259,541

-3,137,376

-4,542,728


Cash outflows for the purchase of non-current investments financed by:

-795,967,056

-1,125,556,743

-647,718,808

-935,430,625


– insurance technical provisions

-733,030,004

-990,071,559

-608,173,574

-842,029,501


– other sources

-62,937,052

-135,485,184

-39,545,234

-93,401,124


Cash outflows for the purchase of current investments financed by:

-519,870,559

-1,116,339,376

-345,313,637

-726,413,425


– insurance technical provisions

-436,792,496

-978,941,458

-312,013,637

-681,413,195


– other sources

-83,078,063

-137,397,918

-33,300,000

-45,000,230


 Cash outflows for the purchase of investments in subsidiaries and associates financed by:

-887,607

-8,468,986

-1,764,932

-61,985,375


– insurance technical provisions

0

0

0

-2,410,514


– other sources

-887,607

-8,468,986

-1,764,932

-59,574,861








Total cash flow from investing activities

33,932,419

34,329,527

61,047,381

53,556,224


 



C.CASH FLOWS FROM FINANCING ACTIVITIES




Cash inflows from financing activities

0

1,736,108

0

0


Cash inflows from paid-in capital

0

0

0

0


Cash inflows from long-term loans received

0

1,347,445

0

0


Cash inflows from short-term loans received

0

388,663

0

0








Cash outflows from financing activities

-57,900,352

-68,356,145

-57,961,246

-67,401,961


Cash outflows for paid interest

-1,257,116

-2,020,351

-1,257,116

-1,785,000


Cash outflows for repayments of principal

0

0

0

0


Cash outflows for payments of long-term financial liabilities

0

-9,658,925

0

-8,857,262


Cash outflows for payments of short-term financial liabilities

0

0

0

0


Cash outflows from dividends paid and profit sharing

-56,643,236

-56,676,869

-56,704,130

-56,759,699








Total cash flow from financing activities

-57,900,352

-66,620,037

-57,961,246

-67,401,961







D.Opening balance of cash and cash equivalents

47,928,768

22,858,388

7,549,958

5,650,669

E.Opening balance of cash and cash equivalents arising from merger with Triglav Nepremi─Źnine

0

0

0

544

F1.Net cash flow for the period

17,818,411

11,513,213

20,103,688

1,898,745

F2.Foreign exchange differences

-32,705

-5,421

0

0

F3.Cash transferred to non-current assets held for sale

0

-1,893,950

0

0

F4.External acquisition

0

15,456,538

0

0

G.Closing balance of cash and cash equivalents

65,714,474

47,928,768

27,653,646

7,549,958

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