Consolidated Statement of Cash Flows

	Year ended December 31,
	2009	2008*	2007
Operating activities:
(Loss)/profit before financing and taxation	(398,787)	3,207,449	2,731,978
Adjustments to reconcile profit to cash generated from operations:
Depreciation and amortization (Notes 21 and 22)	957,164	1,087,421	846,262
Impairment of non-current assets (Note 8)	219,019	1,540,263	28,895
Movements in provision for inventories, receivables and other provisions	(319,940)	537,466	53,603
Negative goodwill	–	(292,326)	(12,223)
Loss on disposal of property, plant and equipment	32,001	43,278	35,525
Gain on disposal of subsidiaries and associates (Note 29)	–	(314,435)	(31,507)
Loss/(gain) on remeasurement and disposal of financial investments	15,304	96,812	(25,564)
Share of associates’ results less dividends from associates	(11,488)	3,400	(6,240)
Changes in operating assets and liabilities:
Trade accounts receivable	472,283	79,654	(357,090)
Amounts receivable from related parties	32,708	(39,695)	2,110
VAT recoverable	80,076	(109,020)	110,677
Inventories	1,588,070	(945,707)	(235,891)
Trade accounts payable	(93,496)	(157,717)	107,116
Amounts payable to related parties	(37,446)	11,781	79,656
Other taxes and social security payables	(6,926)	7,673	(63,422)
Other non-current liabilities	(192,941)	(34,919)	(101,158)
Assets held for sale	(422)	38,609	(1,856)
Net other changes in operating assets and liabilities	(119,819)	131,140	123,815
Cash generated from operations	2,215,360	4,891,127	3,284,686
Interest paid (excluding banking operations)	(551,826)	(362,789)	(244,324)
Income tax paid	(52,345)	(1,094,472)	(804,223)
Net cash from operating activities	1,611,189	3,433,866	2,236,139
Investing activities:
Additions to property, plant and equipment	(945,898)	(2,030,531)	(1,997,285)
Additions to intangible assets	(69,363)	(83,939)	(27,194)
Net decrease/(increase) in short-term bank deposits	668,121	(259,880)	580,706
Additions to financial investments and associates	(267,637)	(878,472)	(889,595)
Acquisition of non-controlling interests and entities under common control	(23,387)	(219,588)	(316,862)
Net cash outflow on acquisitions of subsidiaries (Note 29)	–	(3,068,693)	(643,279)
Net cash inflow on disposals of subsidiaries (Notes 29)	5,010	671,717	235,978
Proceeds from disposal of property, plant and equipment	34,151	42,853	34,150
Proceeds from disposal of financial investments	224,374	860,549	773,090
Interest received (excluding banking operations)	120,606	155,233	150,583
Cash from investing activities	(254,023)	(4,810,751)	(2,099,708)
Financing activities:
Proceeds from debt finance	4,354,767	7,542,083	3,677,480
Proceeds from grants	–	–	72
Repurchase of issued shares	–	(26,303)	–
Repayment of debt finance	(5,420,782)	(3,685,787)	(3,277,251)
Repayments under lease obligations	(30,652)	(24,994)	(3,915)
Dividends paid	(116,106)	(1,346,535)	(736,156)
Contributions of non-controlling interests	54,319	–	–
Dividend to the Majority shareholder paid by acquired entity under common control	–	(34,036)	–
Cash from financing activities	(1,158,454)	2,424,428	(339,770)
Effect of exchange rates on cash and cash equivalents	1,776	(17,197)	82,486
Net increase/(decrease) in cash and cash equivalents	200,488	1,030,346	(120,853)
Cash and cash equivalents at beginning of the year	2,652,888	1,622,542	1,743,395
Cash and cash equivalents at end of the year (Note 13)	2,853,376	2,652,888	1,622,542

* These amounts reflect adjustments made in connection with the completion of purchase price allocations (Note 29)