in EUR | |||||
Triglav Group | Zavarovalnica Triglav | ||||
2019 | 2018 | 2019 | 2018 | ||
| A. | OPERATING CASH FLOW | | | ||
| a. | Net profit for the period | 83,864,429 | 80,826,246 | 70,614,416 | 65,543,865 |
| b. | Adjustments: | 20,602,022 | -15,248,844 | -25,835,186 | -29,661,945 |
| | – depreciation and amortisation | 18,212,851 | 14,082,102 | 12,215,733 | 10,541,634 |
| | – changes in fair value of investments | -80,270,766 | 44,348,521 | -63,561,375 | 32,424,985 |
| | – other investment income and expenses | -85,905,413 | -69,388,612 | -65,117,337 | -50,349,712 |
| | – interest expenses and other expenses | 3,098,502 | 1,384,361 | 2,867,130 | 1,507,022 |
| | – revaluation of investment properties and receivables | 5,037,035 | 3,732,852 | 2,477,665 | 889,024 |
| | – changes in technical provisions | 143,698,894 | -24,968,719 | 71,801,858 | -36,802,504 |
| | – corporate income tax excluding deferred taxes | 16,730,919 | 15,560,651 | 13,481,140 | 12,127,606 |
| c. | Net income before changes in operating assets (a+b) | 104,466,451 | 65,577,402 | 44,779,230 | 35,881,920 |
| | Changes in operating receivables | -13,392,691 | -10,214,443 | -6,748,441 | -12,797,338 |
| | Changes in other assets | -2,675,675 | -5,750,219 | -797,687 | -4,304,205 |
| | Changes in liabilities | 19,007,395 | 8,686,561 | 8,034,150 | 4,347,797 |
| | Paid corporate income tax | -17,108,041 | -14,306,961 | -14,513,762 | -9,866,802 |
| d. | Changes in net operating assets | -14,169,012 | -21,585,062 | -14,025,740 | -22,620,548 |
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| e. | Net cash from/ (used in) operating activities (c+d) | 90,297,439 | 43,992,340 | 30,753,490 | 13,261,372 |
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| B. | CASH FLOWS FROM INVESTING ACTIVITIES | | | ||
| a. | Cash inflows from investing activities | 1,469,286,636 | 999,778,200 | 1,198,898,504 | 796,648,222 |
| | Cash inflows from interest from investing activities | 65,980,623 | 53,035,031 | 36,683,169 | 36,970,864 |
| | Cash inflows from dividends received and profit sharing | 5,037,378 | 3,828,099 | 7,206,057 | 7,557,132 |
| | Cash inflows from the disposal of intangible assets | 71,871 | 3,094 | 30,782 | 3,094 |
| | Cash inflows from the disposal of property, plant and equipment | 7,961,376 | 8,715,584 | 1,404,653 | 8,181,979 |
| | Cash inflows from the disposal of financial investments | 1,390,235,388 | 934,196,392 | 1,153,573,843 | 743,935,153 |
| | - Cash inflows from the disposal of investments in subsidiaries and associates | 2,340,104 | 0 | 0 | 0 |
| | - Other cash inflows from disposal of financial investments | 1,387,895,284 | 934,196,392 | 1,153,573,843 | 743,935,153 |
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| b. | Cash outflows from investing activities | -1,540,674,760 | -996,334,697 | -1,210,737,724 | -769,343,650 |
| | Cash outflows for the purchase of intangible assets | -5,182,272 | -6,223,811 | -3,282,390 | -2,948,864 |
| | Cash outflows for the purchase of property, plant and equipment | -13,134,912 | -14,669,708 | -8,068,006 | -10,003,879 |
| | Cash outflows for the purchase of financial investments | -1,522,357,576 | -975,441,178 | -1,199,387,328 | -756,390,907 |
| | - Cash outflows for the purchase of investments in subsidiaries and associates | -1,149,098 | -11,617,277 | -4,094,671 | -17,060,388 |
| | - Other cash outflows to acquire financial investments | -1,521,208,478 | -963,823,901 | -1,195,292,657 | -739,330,519 |
| c. | Net cash from/ (used in) investing activities (a + b) | -71,388,124 | 3,443,503 | -11,839,220 | 27,304,572 |
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| C. | CASH FLOWS FROM FINANCING ACTIVITIES | | | ||
| a. | Cash inflows from financing activities | 49,367,159 | 0 | 49,367,159 | 0 |
| | Cash inflows from paid-in capital | 0 | 0 | 0 | 0 |
| | Cash inflows from long-term loans received and issued | 49,367,159 | 0 | 49,367,159 | 0 |
| | Cash inflows from short-term loans received | 0 | 0 | 0 | 0 |
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| b. | Cash outflows from financing activities | -62,882,638 | -58,256,189 | -60,167,804 | -58,082,203 |
| | Cash outflows for paid interest | -2,829,914 | -1,227,366 | -2,351,553 | -1,227,366 |
| | Cash outflows for purchase of treasury shares | 0 | 0 | 0 | 0 |
| | Cash outflows for capital repayment | 0 | -133,062 | 0 | 0 |
| | Cash outflows for payments of long-term financial liabilities | -240,011 | 0 | 0 | 0 |
| | Cash outflows for payments of short-term financial liabilities | -3,035,142 | 0 | -977,954 | 0 |
| | Cash outflows from dividends paid and profit sharing | -56,777,571 | -56,895,761 | -56,838,297 | -56,854,837 |
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| c. | Net cash from/ (used in) financing activities (a + b) | -13,515,479 | -58,256,189 | -10,800,645 | -58,082,203 |
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| D. | Closing balance of cash and cash equivalents | 75,869,775 | 67,601,660 | 26,112,112 | 17,998,487 |
| E1. | Net cash flow for the period | 5,393,836 | -10,820,346 | 8,113,625 | -17,516,259 |
| E2. | External acquisition | 2,862,910 | 0 | 0 | 0 |
| E3. | Foreign exchange differences | 11,369 | 4,159 | 0 | 0 |
| F. | Opening balance of cash and cash equivalents | 67,601,660 | 78,417,847 | 17,998,487 | 35,514,746 |