| |
Financial
management with a focus on added value for shareholders |
|
|
|
Consolidated
Cash Flow
Metalúrgica Gerdau S.A.
(By
corporate law - in thousands of reais)
|
|
|
2002
|
2001
|
| Net
profit |
821,016
|
550,882
|
| Equity
pickup |
(447,483)
|
(182,474)
|
| Provision
for credit risk |
5,452
|
12,407
|
| Gain/loss
in fixed asset disposal |
8,190
|
24,120
|
| Gain/loss
in liquidation of investments |
27,614
|
5,401
|
| Exchange
on long term debt |
761,826
|
158,758
|
| Depreciation
and amortization |
511,929
|
391,194
|
| Income
tax and social contribution |
10,142
|
6,973
|
| Interest
paid |
464,260
|
250,680
|
| Contigengencies/legal
deposits |
2,191
|
(11,155)
|
| Increase
(decrease) in trade accounts payable |
(161,318)
|
81,109
|
| Changes
in inventories |
(222,708)
|
(51,854)
|
| Changes
in trade accounts payable |
(46,140)
|
62,935
|
| Other
operating accounts |
(116,930)
|
(114,168)
|
| Net
cash provided by operating activities |
1,618.041
|
1,184,808
|
| Fixed
assets acquisitions/disposals |
(565,851)
|
(444,283)
|
| Deferred
charges |
(6,134)
|
(2,858)
|
| Investments
acquisitions/disposals |
(913,011)
|
(335,908)
|
| Cash
(applied to) investing activities |
(1,484,996)
|
(783,049)
|
| Fixed
asset suppliers |
(13,449)
|
(10,843)
|
| Working
capital financing |
640,514
|
(29,969)
|
| Debentures |
242,659
|
(45,703)
|
| Proceeds
from fixed assets financing |
1,476,379
|
909,953
|
| Payments
of fixed assets financing |
(1,823,826)
|
(749,918)
|
| Interest
paid for financing |
(351,052)
|
(208,486)
|
| Inter
company loans |
845
|
(10,356)
|
| Dividend/interest
and statutory participation payment |
(259,366)
|
(135,061)
|
| Cash
provided by (applied to) financing activities |
(87,296)
|
(280,383)
|
| Net
change in cash |
45,749
|
121,376
|
| CASH
BALANCE |
|
|
| At
the beginning of the pariod |
1,003,384
|
689,170
|
| Effects
of exchange rate on cash |
318,717
|
73,490
|
| Initial
balance (companies consolidated in the years) |
52,386
|
119,348
|
| At
the end of the period |
1,420,236
|
1,003,384
|
| CASH
COMPOSITION |
|
|
| Temporary
cash investments |
1,345,717
|
994,691
|
| Cash |
74,519
|
8,693
|
|
| |
|
|
