Annual Report 2016
T
heGroupreportedanegativecash
flow from operating activities
in 2016 predominantly due to
higher working capital requirements,
especially forwork-in-progress.
In 2016, positive cash flow from
investing activitieswas at $1.3million
in2016mainlydue to thematuritiesof
investment securities. Baker Tech has
incurred lower capital expenditure at
$2.0 million in FY2016 as compared
to $11.6million inFY2015.
Cashused infinancingactivitiesof$5.1
million inFY2016was thepayment of
dividend toshareholdersat2.5centsper
share (adjusted forshareconsolidation).
ForFY2015,theGroupcollectedproceeds
of$13.2million from theconversionof
warrants,partiallyoffsetby thepayment
ofdividendtoshareholders($10.1million
or5centspershare).Hence, thepositive
cashflow fromfinancing activities.
TheGroup’scashpositionremainsstrong
at $107.0millionasat theendof2016,
or at 52.7centsper share (basedon the
revisednumbersof sharesasa result of
the share consolidation).
CashFlows
2016
$'000
2015
$'000
Changes
%
Cash used in operating activities
(30,223)
(22,489)
-34%
Cash from / (used in) investing activities
1,296
(12,964)
NM
Cash (used in) / fromfinancing activities
(5,072)
3,166
NM
Net decrease in cash& cash equivalents
(33,999)
(32,287)
-5%
Effect of exchange rate changes on cash and cash equivalents
885
3,672
-76%
Cash& cash equivalents at beginning of year
140,070
168,685
-17%
Cash& cash equivalents at end of year
106,956
140,070
-24%
* NM denotesNotMeaningful
Financial Review
FINANCIAL
REVIEW
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