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Based on the 2010 financial results after tax and Chart 5.5
taking into account the Transfer to the Statutory Cash Position Development 2009-2010
Reserve of €4.8 million and the previous year’s
retained earnings of €12.5 million, there remains
a distributable profit of €104.3 million. The
amount of €75.0 million, i.e. €2.50 per share, has
been proposed by the Board of Directors to be
distributed to the shareholders as dividend.
Cash Flow
AIA retains a strong cash position, well above
the minimum required level for debt service
cover ratios, as these are defined in the EIB loan
agreement.
Cash inflow from operating activities was €196.5
million, compared to €219.9 million in 2009.
However, excluding the impact of increased tax
payments in 2010, the company performed at
last year’s levels with regards the cash flow from
operating activities signifying sustained operating
performance and efficient collection policy. Net cash
outflow from investing activities was €3.6 million,
versus an inflow of €10.9 million in the previous
year, attributed to once-off interest income on
overdue accounts which was collected during the
previous year. Finally, the net cash outflow from
financing activities reached €216.4 million, €65.8
million higher than 2009, incorporating increased
dividend payments of 2009 financial performance.
The closing cash position in 2010 reached the amount
of €220.5 million, €23.4 million lower than the
previous year.
A N N U A L R E P O R T 2 0 1 0 29
taking into account the Transfer to the Statutory Cash Position Development 2009-2010
Reserve of €4.8 million and the previous year’s
retained earnings of €12.5 million, there remains
a distributable profit of €104.3 million. The
amount of €75.0 million, i.e. €2.50 per share, has
been proposed by the Board of Directors to be
distributed to the shareholders as dividend.
Cash Flow
AIA retains a strong cash position, well above
the minimum required level for debt service
cover ratios, as these are defined in the EIB loan
agreement.
Cash inflow from operating activities was €196.5
million, compared to €219.9 million in 2009.
However, excluding the impact of increased tax
payments in 2010, the company performed at
last year’s levels with regards the cash flow from
operating activities signifying sustained operating
performance and efficient collection policy. Net cash
outflow from investing activities was €3.6 million,
versus an inflow of €10.9 million in the previous
year, attributed to once-off interest income on
overdue accounts which was collected during the
previous year. Finally, the net cash outflow from
financing activities reached €216.4 million, €65.8
million higher than 2009, incorporating increased
dividend payments of 2009 financial performance.
The closing cash position in 2010 reached the amount
of €220.5 million, €23.4 million lower than the
previous year.
A N N U A L R E P O R T 2 0 1 0 29
