Cash Flow Disclosures

12 Months Ended

Dec. 31, 2021

29.

Cash flow disclosures

The most significant non-cash transaction is detailed below:


	2021			2020			2019
Right-of-use asset recognition with an increase in Lease liabilities		(3,915	)		(188	)		(370	)

Net debt reconciliation:

This section sets out an analysis of net debt and the movements in net debt for each of the periods presented.


Net debt	2021			2020			2019
Cash and cash equivalents		336,197			111,733			34,765
Financial assets at fair value through profit or loss		1,004			8,319			15,399
Borrowings		(5,014	)		—			—
Lease liabilities		(3,928	)		(218	)		(399	)
Derivative financial instrument		(221	)		(2,896	)		—
Net debt		328,038			116,938			49,765
Cash and liquid investments		337,201			120,052			50,164
Gross debt – fixed interest rates		(9,163	)		(3,114	)		(399	)
Net debt		328,038			116,938			49,765

According to the IAS 7, the movements in the debt of the year that impact on the cash flow as part of the financing activities are detailed below:


	Interest Bearing Borrowings			Lease liabilities			Derivative financial instrument			Sub-total			Cash & Cash Equivalents		Financial Assets at FVPL			Total
Net debt as at December 31,2018		(9,174	)		—			—			(9,174	)		23,305		16,690			30,821
Leases		—			(551	)		—			(551	)		—		—			(551	)
Cash flows		—			182			—			182			11,460		(1,818	)		9,824
Debt prepaid (i)		9,174			—			—			9,174			—		—			9,174
Other changes (ii)		—			(30	)		—			(30	)		—		527			497
Net debt as at December 31,2019		—			(399	)		—			(399	)		34,765		15,399			49,765
Cash flows		—			151			—			151			76,968		(7,532	)		69,587
Fair value changes		—			—			(2,896	)		(2,896	)		—		9			(2,887	)
Lease benefit for
COVID-19		—			50			—			50			—		—			50
Other Changes		—			(20	)		—			(20	)		—		443			423
Net debt as at December 31,2020		—			(218	)		(2,896	)		(3,114	)		111,733		8,319			116,938
Cash flows		(5,000	)	572				—			(4,428	)		224,464		(10,076	)		209,960
Fair value changes		—			—			2,675			2,675			—		2,761			5,436
New leases		—			(4,282	)		—			(4,282	)		—		—			(4,282	)
Other Changes		(14	)		—			—			(14	)		—		—			(14	)
Net debt as at December 31,2021		(5,014	)		(3,928	)		(221	)		(9,163	)		336,197		1,004			328,038

(i)

The Group repaid a financial loan with shareholders for a total amount of USD 9,174.

(ii)

Other changes include non-cash movements, mainly related to accrued interest expense which are presented as financing cash flows in the Consolidated Statement of Cash Flows when paid.