Cash flows
Budimex Group’s restricted cash primarily includes:
- being the security for bank guarantees
- accumulated on the split payment accounts,
- funds in escrow and current accounts in part due to partners performing construction contracts together with a company in the group
On 31 December 2021, the Budimex Group had cash in bank accounts and in hand in the total amount of PLN 2,715,795 thousand, which for the purposes of preparing the statement of cash flows, were decreased by restricted funds in the amount of PLN 30,910 thousand. Throughout 2022, the group recorded positive net cash flows of PLN 537,159 thousand and, as of 31 December 2022, had cash in the amount of PLN 3,249,369 thousand, including restricted cash in the amount of PLN 27,959 thousand.
In 2022, the Budimex Group collected a record amount of PLN 3.2 billion in cash. It will be used for investments in the following areas: RES, electromobility, Public-Private Partnerships and M&A.
Cash flows of the Budimex Capital Group in 2022 (PLN thousand)
The increase in the value of cash resulted from::
- Positive cash flows from operating activities in the amount of PLN 1,427,766 thousand. In addition to the earned profit and depreciation, its level was influenced by the increase in working capital (lower financial involvement of the group’s companies and increased involvement of investors in implemented projects).
- Negative cash flows from investment activities in the amount of PLN 169,691 thousand, which was primarily determined by the purchase of intangible assets and tangible fixed assets (for the total amount of PLN 125,190 thousand) and the acquisition of subsidiaries (for PLN 50,596 thousand, including deferred payments).
- Negative cash flows from financing activities in the amount of PLN 720,916 thousand, mainly due to dividend payments in the amount of PLN 613,328 thousand and lease payments in the amount of PLN 89,874 thousand.
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