REC Silicon Annual Report 2019

REC Silicon Annual Report 2019 34 CONSOLIDATEDSTATEMENTOFCASHFLOWS TOTALOPERATIONS REC SILICON GROUP (USD INMILLION) NOTES 2019 2018 Cash flows from operating activities Profit/loss before tax 1) -127.0 -348.0 Income taxes paid/received 18 2.7 0.7 Depreciation, amortization and impairment 6, 7, 8 69.8 402.2 Investment in associates, impairment financial assets, gains/losses on sale 9 24.2 -72.5 Changes in receivables, prepayments from customers etc. 12 5.4 9.7 Changes in inventories 13 21.5 3.8 Changes in payables, accrued and prepaid expenses 20 -7.8 -5.7 Changes in provisions 20 0.0 -0.3 Changes in VAT and other public taxes and duties 20 0.0 0.0 Changes in derivatives 11 0.0 -0.1 Currency effects not cash flow or not related to operating activities 25 -0.5 -1.7 Other items 2) -1.4 1.9 Net cash flow from operating activities -13.0 -10.1 Cash flows from investing activities Proceeds/Payments finance receivables and restricted cash 14 0.0 0.0 Proceeds from sale of property, plant and equipment and intangible assets 6 1.5 0.6 Payments for property, plant and equipment and intangible assets 6 -2.0 -1.7 Net cash flow from investing activities -0.6 -1.2 Cash flows from financing activities Increase in equity 15 19.0 0.0 Payments of lease liabilities 7 -7.8 0.0 Payments of borrowings and up-front/waiver loan fees 3) 17 0.0 -171.4 Proceeds from borrowings 17 0.0 110.0 Net cash flow from financing activities 11.2 -61.4 Effect on cash and cash equivalents of changes in foreign exchange rates 25 0.0 0.0 Net increase/decrease in cash and cash equivalents -2.4 -72.7 Cash and cash equivalents at the beginning of the period 31.8 104.5 Cash and cash equivalents at the end of the period 29.4 31.8 1) PROFIT/LOSS BEFORE TAX FROM OPERATIONS INCLUDES Interest Paid -17.6 -14.9 Interest Received 0.7 0.8 2) In 2019, Other items includes an adjustment of pension liabilities 3) Payment of borrowings include fees and costs for issue and repurchase of interest bearing debt.