close

Navigation Map

Download our best practices
Interactive navigation is a tool that goes beyond the standard navigation of the integrated content (available in the report drop-down bar). New approach allowed to navigate in the two additional business dimensions of the PZU Group, i.e .:
  • strategy (insurance, health, investments, finances);
  • sustainable development (sales, employees, social responsibility, natural environment and ethics).
The above-mentioned areas were additionally supplemented with related GRI indicators, within each selected issue.
Employees
Society
Ethics
Environment
Products
Overview
Health
Banking
Investments
Insurance
Business
practices

In the Chapter

GRIs

Consolidated cash flow statement

Annual Report 2019 > Consolidated cash flow statement
Facebook Twitter All
Integrated Navigation
Insurance
Health
Investments
Banking
Best Pratices in PZU
Page tools:

Consolidated cash flow statement Note 1 January – 31 December 2019 1 January – 31 December 2018
Profit before tax   7 080 7 086
Adjustments   -6 032 -6 683
Movement in loan receivables from clients   -14 959 -15 972
Movement of liabilities under deposits   10 522 9 093
Movement in the valuation of assets measured at fair value   -837 -770
Interest income and expenses   -2 574 -2 276
Realized gains/losses from investing activities and impairment losses   1 823 1 664
Net foreign exchange differences   123 -184
Movement in deferred acquisition expenses   -28 -61
Amortization of intangible assets and depreciation of property, plant and equipment   1 293 1 103
Movement in the reinsurers' share in technical provisions   -344 -262
Movement in technical provisions   1 490 1 281
Movement in receivables   -644 -586
Movement in liabilities   1 113 -871
Cash flow on investment contracts   -13 -21
Acquisitions and redemptions of participation units and investment certificates of mutual funds   158 -126
Income tax paid   -2 084 -1 898
Other adjustments   -1 071 3 203
Net cash flows from operating activities   1 048 403
Cash flow from investing activities      
Proceeds   759 573 909 865
– sale of investment property   619 22
– proceeds from investment property    305 300
– sale of intangible assets and property, plant and equipment   87 51
– sale of ownership interests and shares   3 061 3 590
– realization of debt securities   157 856 204 645
– closing of buy-sell-back transactions   281 450 460 379
– closing of term deposits with credit institutions    289 755 208 469
– realization of other investments   24 678 30 645
– interest received   1 673 1 655
– dividends received   55 66
– increase in cash due to purchase of entities and change in the scope of consolidation   - 4
– other investment proceeds   34 39
Expenditures   -764 426 -900 694
– purchase of investment property   -198 -106
– expenditures for the maintenance of investment property    -139 -105
– purchase of intangible assets and property, plant and equipment   -903 -824
– purchase of ownership interests and shares   -2 633 -3 378
– purchase of ownership interests and shares in subsidiaries   -211 -29
– decrease in cash due to the sale of entities and change in the scope of consolidation   -32 -
– purchase of debt securities   -165 545 -192 342
– opening of buy-sell-back transactions   -282 273 -462 749
– purchase of term deposits with credit institutions   -288 342 -209 697
– purchase of other investments   -24 129 -31 436
– other expenditures for investments   -21 -28
Net cash flows from investing activities   -4 853 9 171
Cash flows from financing activities      
Proceeds   106 012 202 272
– proceeds from the issue of shares by subsidiaries (in the part paid up by holders of non-controlling interests)   - 13
– proceeds from loans and borrowings 38 4 300 4 284
– proceeds on the issue of own debt securities 38 8 820 6 396
– opening of repurchase transactions 38 92 892 191 579
Expenditures   -111 499 -203 072
– dividends paid to equity holders of the parent 40.2.1.1 -2 418 -2 159
– dividends to owners of non-controlling interests   -1 385 -1 659
– repayment of loans and borrowings 38 -3 415 -3 373
– redemption of own debt securities 38 -10 845 -3 384
– closing of repurchase transactions 38 -92 837 -192 217
– interest on loans and borrowings 38 -75 -45
– interest on outstanding debt securities 38 -227 -235
– expenditures on leases   -297 -
Net cash flows from financing activities   -5 487 -800
Total net cash flows   -9 292 8 774
Cash and cash equivalents at the beginning of the period   17 055 8 239
Change in cash due to foreign exchange differences   25 42
Cash and cash equivalents at the end of the period, including: 38 7 788 17 055
– restricted cash 38 89 25