All cash amounts presented in text are in million with currency specification, all amounts are in PLN million, except where otherwise stated.
| for the year ended | |||
|---|---|---|---|
| Note | 31 December 2016 | 31 December 2015 | |
| Net profit | 1,021.0 | 1,163.4 | |
| Adjustments for: | 2,130.5 | 1,821.7 | |
| Depreciation, amortization, impairment and liquidation | 10 | 1,971.5 | 1,699.3 |
| Payments for film licenses and sports rights | (246.5) | (238.1) | |
| Amortization of film licenses and sports rights | 230.7 | 212.6 | |
| Interest expense | 541.9 | 763.6 | |
| Change in inventories | 3.0 | 26.4 | |
| Change in receivables and other assets | (329.9) | (478.2) | |
| Change in liabilities, provisions and deferred income | (33.3) | (118.0) | |
| Change in internal production and advance payments | (6.1) | (3.9) | |
| Valuation of hedging instruments | 9.8 | 6.6 | |
| Foreign exchange losses, net | 270.9 | 222.0 | |
| Income tax | 13 | 12.4 | 169.0 |
| Net additions of reception equipment provided under operating lease | (153.0) | (134.7) | |
| Cumulative catch-up and early redemption costs | 31 | - | (371.4) |
| (Profit)/net loss on derivatives | (164.9) | 53.0 | |
| Other adjustments | 24.0 | 13.5 | |
| Cash from operating activities | 3,151.5 | 2,985.1 | |
| Income tax paid | (292.7) | (136.2) | |
| Interest received from operating activities | 25.9 | 38.8 | |
| Net cash from operating activities | 2,884.7 | 2,887.7 | |
| Acquisition of property, plant and equipment | (436.2) | (417.8) | |
| Acquisition of intangible assets | (154.2) | (165.3) | |
| Concessions payments | (268.5) | (118.7) | |
| Acquisition of subsidiaries, net of cash acquired | 37 | (144.4) | (29.5) |
| Proceeds from sale of property, plant and equipment | 9.5 | 16.9 | |
| Granted loans | (11.6) | (16.1) | |
| Repayment of granted loans | 0.1 | - | |
| Other investing activities – derivatives | (1.6) | 3.9 | |
| Other inflows | 3.5 | - | |
| Net cash used in investing activities | (1,003.4) | (726.6) | |
| Repayment of loans and borrowings | 30 | (1,940.9) | (9,222.2) |
| Loans and borrowings inflows | 30 | 5,500.0 | 6,820.0 |
| Bonds (redemption)/issue | 31 | (4,484.0) | 1,000.0 |
| Payment of interest on loans, borrowings, bonds, finance lease and commissions* | (729.6) | (978.9) | |
| Acquisition of bonds | (323.6) | - | |
| Early redemption fee | 31 | (262.1) | - |
| Hedging instrument effect – principal | 175.4 | - | |
| Other outflows | (6.0) | (5.6) | |
| Net cash used in financing activities | (2,070.8) | (2,386.7) | |
| Net decrease in cash and cash equivalents | (189.5) | (225.6) | |
| Cash and cash equivalents at the beginning of the period | 1,523.7*** | 1,747.9** | |
| Effect of exchange rate fluctuations on cash and cash equivalents | 2.5 | 1.4 | |
| Cash and cash equivalents at the end of the period | 1,336.7**** | 1,523.7*** | |
* includes impact of hedging instruments and amount paid for costs related to the new financing
** includes restricted cash amounting to PLN 12.6
*** includes restricted cash amounting to PLN 11.7
**** includes restricted cash amounting to PLN 10.7