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Cash flow statement

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Consolidated cash flow statement Note 1 January – 31 December 2020 1 January – 31 December 2019 (restated) 1
Profit before tax
4,058 7,080
  Adjustments
24,521 (6,032)
    Movement in loan receivables from clients
(5,514) (14,959)
    Movement in liabilities under deposits
25,221 10,522
    Movement in the valuation of assets measured at fair value
(869) (837)
    Interest income and costs
(2,608) (2,574)
    Realized gains/losses from investing activities and impairment losses
2,931 1,823
    Impairment charges for property, plant and equipment, intangible assets and goodwill
1,505 19
    FX gains (losses)
(55) 123
    Movement in deferred acquisition cost
24 (28)
    Amortization of intangible assets and depreciation of property, plant and equipment
1,319 1,293
    Movement in the reinsurers’ share in technical provisions
(245) (344)
    Movement in technical provisions
1,142 1,490
    Change in the balance of receivables
277 (644)
    Movement in liabilities
1,616 2,454
    Cash flow on investment contracts
6 (13)
    Acquisitions and redemptions of participation units and investment certificates of mutual funds
313 158
    Income tax paid
(1,886) (2,084)
   Other adjustments
1,344 (2,431)
Net cash flows from operating activities
28,579 1,048
Cash flow on investing activity


  Inflows
866,620 759,573
  - sale of investment property
12 619
  - proceeds from investment property 
260 305
  - sale of intangible assets and components of property, plant and equipment
29 87
  - sale of ownership interests and shares
682 3,061
- realization of debt securities
407,813 157,856
- closing of buy-sell-back transactions
246,687 281,450
- closing of term deposits with credit institutions 
182,521 289,755
- realization of other investments
26,844 24,678
- interest received
1,566 1,673
- dividends received
149 55
- other investment proceeds
57 34
Outflows
(894,247) (764,426)
- purchase of investment property
(200) (198)
- expenditures for the maintenance of investment property 
(139) (139)
- purchase of intangible assets and components of property, plant and equipment
(1,264) (903)
- purchase of ownership interests and shares
(615) (2,633)
- purchase of ownership interests and shares in subsidiaries
(70) (211)
- decrease in cash due to the sale of entities and change in the scope of consolidation
- (32)
- purchase of debt securities
(436,679) (165,545)
- opening of buy-sell-back transactions
(247,271) (282,273)
- purchase of term deposits with credit institutions
(182,142) (288,342)
- purchase of other investments
(25,835) (24,129)
- other expenditures for investments
(32) (21)
Net cash flows from investing activities
(27,627) (4,853)
Cash flows from financing activities


Inflows
91,069 106,012
- proceeds from loans and borrowings 54 1,661 4,300
- proceeds on the issue of own debt securities 54 9,658 8,820
- opening of repurchase transactions 54 79,750 92,892
Outflows
(92,050) (111,499)
- dividends paid to equity holders of the parent 40.2.1.1 - (2,418)
- dividends paid to holders of non-controlling interest
- (1,385)
- repayment of loans and borrowings 54 (898) (3,415)
- redemption of own debt securities 54 (11,473) (10,845)
- closing of repurchase transactions 54 (79,194) (92,837)
- interest on loans and borrowings 54 (47) (75)
- interest on outstanding debt securities 54 (163) (227)
- expenditures on leases
(275) (297)
Net cash flows from financing activities
(981) (5,487)
Total net cash flows
(29) (9,292)
Cash and cash equivalents at the beginning of the period
7,788 17,055
Movement in cash due to foreign currency differences
180 25
Cash and cash equivalents at the end of the period, including: 39 7,939 7,788
- restricted cash 39 19 89

1 Information on restatement of data for the period from 1 January to 31 December 2019 is presented in section 5.4.