Financial statements

Financial statements of JSW S.A. for 2012

	For the financial year ended 31 Dec
	2012	2011
Cash flow on operating activity
Cash inflows on operating activity	2,084.3	3,148.3
Interest paid	(1.9)	(1.8)
Movement in financial derivatives	(0.7)	(2.5)
Income tax paid	(196.4)	(465.1)
Net cash flow on operating activity	1,885.3	2,678.9

Cash flow on investing activity
Acquisition of property, plant and equipment	(1,577.1)	(1,135.5)
Acquisition of intangible assets	(0.8)	(0.9)
Acquisition of financial assets	(941.8)	(747.2)
Proceeds on the sale of property, plant and equipment	0.5	2.3
Dividends received	54.2	12.7
Interest received	113.7	104.1
Net cash flow on investing activity	(2,351.3)	(1,764.5)

Cash flow on financing activity
Dividends paid to the Company’s shareholders	(631.7)	(298.0)
Other net cash flow on financing activity	(15.5)	(13.8)
Net cash flow on financing activity	(647.2)	(311.8)

Change in the net balance of cash and cash equivalents	(1,113.2)	602.6

Cash and cash equivalents at the beginning of the period	2,358.9	1,756.0
Foreign exchange differences from the conversion of cash and cash equivalents	(0.1)	0.3
Cash and cash equivalents at the end of the period	1,245.6	2,358.9