| (All amounts in HUF 000.000´s) |
| |
Year ended December 31. |
| |
Notes |
1999 |
1998 |
| Cash flows from operating activities: |
|
|
|
| Income before taxes |
|
4,174 |
4,182 |
| Adjustments for: |
|
|
|
| Interest income |
|
(266) |
(398) |
| Interest expense |
|
313 |
384 |
| Depreciation and amortization |
|
2,206 |
1,450 |
| Unrealized foreign exchange loss on loans |
|
899 |
949 |
| Provision for write down of investments |
|
16 |
- |
| Gain on sale of fixed assets |
|
(18) |
(8) |
| Minority interest in income |
|
- |
2 |
| Changes in assets and liabilities: |
|
|
|
| Accounts receivable and other current assets |
|
(884) |
(240) |
| Inventory |
|
25 |
53 |
| Accounts payable and other current liabilities |
|
(16) |
(14) |
| Cash generated from operations |
|
6,449 |
6,360 |
| Interest paid |
|
(310) |
(478) |
| Corporate income tax paid |
|
(854) |
(950) |
| Net cash flow provided by operations |
|
5,285 |
4,932 |
| Cash flows from investing activities: |
|
|
|
| Purchase of property, plant and equipment |
|
(3,173) |
(2,347) |
| Cash acquired on purchase of Gama 45 s.r.o |
|
10 |
- |
| Cash paid on acquisition of subsidiaries net of cash acquired |
28 |
(1,023) |
(13) |
| Interest received |
|
315 |
439 |
| Proceeds from disposal of investment |
|
20 |
34 |
| Cash outflow from other non-current assets |
|
(66) |
(93) |
| Proceeds on sale of property, plant and equipment |
|
189 |
23 |
| Net cash flow provided by (used in) investing |
|
(3,728) |
(1,957) |
| Cash flows from financing activities: |
|
|
|
| Net increase / (repayment) of long-term debt |
|
(1,547) |
(3,912) |
| Purchase of treasury shares |
|
(884) |
(819) |
| Net cash flow effect of employee shares issue |
|
96 |
- |
| Unrealized gain on treasury shares (non cash item) |
|
250 |
- |
| Net cash flow provided by / (used in) financing |
|
(2,085) |
(4,731) |
| Decrease in cash |
|
(528) |
(1,756) |
| Cash at beginning of year |
|
1,448 |
3,204 |
| Cash at end of year |
|
920 |
1,448 |
