GRI:

Cash and cash equivalents included in the Statement of Cash Flow comprise cash on hand and bank deposits payable on demand and deposits easily converted into a given amount of cash or which are subject to a slight risk of value change.

In the Group, included in cash of restricted use are mainly cash items representing:

security for bank guarantees

amounts gathered on escrow accounts and blocked accounts of development companies

accumulated on the split payment accounts

amounts gathered on trust and current accounts in the part payable to partners implementing construction contracts in cooperation with a Group company

The Budimex Group entered the year 2020 with cash on hand and cash in bank amounting to a total of PLN 1,515,977 thousand. For the purpose of the Statement of Cash Flow, this amount was reduced by the amount of cash of restricted use of PLN 175,762 thousand. The net cash flow for 2020 was positive and amounted to PLN 740,277 thousand. As of 31 December 2020, the Group’s reported cash balance was PLN 2,384,398 thousand, of which the cash of restricted use was PLN 302,900 thousand.

In 2020, the cash from operating activities increased by PLN 887,512 thousand, mainly due to lower financial involvement of the companies of our Group and increased investors’ involvement in the executed projects.

The cash flow from investing activities came out to a positive balance of PLN 96,429 thousand, which was mainly a result of selling corporate bonds issued by Polish banks.

The cash flow from financing activities for 2020 showed a negative balance and amounted to PLN 243,664 thousand and were mainly the payment of dividend for 2019 and of lease and loan liabilities.

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