4. Consolidated cash flow statement

Balance of income and expenses

6,982,320

-1,343,088

7.

Taxes

-244,456

189,741

Adjustments for

4.2.

Depreciation/amortization

14,084,250

13,365,751

2.2.

Transactions for facilities

-342,791

7,491

13,741,459

13,373,242

Changes in working capital:

1.2.2.

Receivables

1,466,927

-1,140,732

2.4.

Short-term debts

-5,789,469

4,946,016

-4,322,542

3,805,284

Cash flow from business operations

16,156,781

16,025,179

6.1.

Financial income

-12,235

-60,656

6.2.

Financial expenses

-2,514,370

-972,771

-2,526,605

-1,033,427

Total cash flow from operational activities

13,630,176

14,991,751

Cash flow from investment activities

1.1.2.

Investments in tangible fixed assets

-13,249,060

-9,015,864

1.1.3.

Investments in financial fixed assets

-544,657

940

1.1.3.

Disinvestments in financial fixed assets

975,150

21,700

Total cash flow from investment activities

-12,818,567

-8,993,224

Cash flow from financing activities

2.3.

Payment of long-term debts

-16,324,810

-1,195,356

Total cash flow from financing activities

-16,324,810

-1,195,356

Transactions, liquid assets

-15,513,202

4,803,171

1.2.4.

Starting position, liquid assets

82,025,318

77,222,147

Transactions, liquid assets

-15,513,202

4,803,171