Bahri Annual Report-2011

Financial Statements Report 2011

Consolidated Statement of Cash Flows For the year ended December 31, 2011 (In Thousands Saudi Riyals)

Cash flows from investing activities:

Notes

2011

2010

Investments in Murabaha and short-term deposits

3,476

(13,884)

Investment in government bonds

17

-

Investment available for sale

1,104

659

Dividends received from affiliate

9

34,087

3,511

Additions of fixed assets

11

(390,957)

(4,555)

Proceeds from cancelled ship construction contracts

12

---

701,654

Proceeds from sale of fixed assets

296

692

Ships under construction and other, net

12

(1,025,775)

(266,300)

Deferred dry-docking costs

10

(61,745)

(22,540)

Net cash provided by (used in) investing activities

(1,439,497)

399,237

Cash flows from financing activities:

Short-term Murabaha finance

64,000

-

Murabaha financing and long-term loans

934,565

140,000

Repayments against Murabaha financing and long-term loans

(326,740)

(759,785)

Dividends paid

(311,176)

(317,293)

Change in minority interest

(20,000)

80,000

Net cash provided by (used in) financing activities

340,649

(857,078)

Net change in cash and cash equivalents during the year

(700,529)

323,731

Cash and cash equivalents at beginning of the year

1,085,349

761,618

Cash and cash equivalents at end of the year

3

384,820

1,085,349

Non-cash items:

Ships under construction transferred to fixed assets

11/12

800,111

-

Deferred charges transferred to fixed assets

10

6,661

-

Unrealized loss (gain) from available for sale investments

1,570

(497)

The accompanying notes from (1) to (26) form an integral part of these consolidated financial statements

www.bahri.sa

Powered by