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Cash flow information
 12 Months Ended
Jun. 30, 2023
Cash flow information  
Cash flow information

16. Cash flow information

 

Following is a detailed description of cash flows generated by the Group’s operations for the years ended June 30, 2023, 2022 and 2021:

 

 

 

Note

 

 

06.30.2023

 

 

06.30.2022

 

 

06.30.2021

 

Profit / (loss) for the year

 

 

 

 

 

60,986

 

 

 

75,222

 

 

 

(132,885)

Profit for the year from discontinued operations

 

 

 

 

 

-

 

 

 

-

 

 

 

31,545

 

Adjustments for:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax

 

 

21

 

 

 

(64,517)

 

 

5,971

 

 

 

76,617

 

Amortization and depreciation

 

 

24

 

 

 

1,900

 

 

 

2,007

 

 

 

2,266

 

Loss from disposal of property, plant and equipment

 

 

 

 

 

 

684

 

 

 

-

 

 

 

-

 

Net loss / (gain) from fair value adjustment of investment properties

 

 

 

 

 

 

49,145

 

 

 

(29,427)

 

 

27,469

 

Impairment of others assets

 

 

 

 

 

 

34

 

 

 

-

 

 

 

-

 

Realization of currency translation adjustment

 

 

 

 

 

 

(423)

 

 

-

 

 

 

-

 

Gain from disposal of associates

 

 

 

 

 

 

-

 

 

 

-

 

 

 

(132)

Gain from disposal of trading properties

 

 

 

 

 

 

(2,991)

 

 

-

 

 

 

-

 

Financial results, net

 

 

 

 

 

 

(19,307)

 

 

(30,824)

 

 

(23,372)

Provisions and allowances

 

 

 

 

 

 

16,611

 

 

 

3,364

 

 

 

3,982

 

Share of loss / (profit) of associates and joint ventures

 

 

8

 

 

 

(2,622)

 

 

764

 

 

 

15,483

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

(Increase) / decrease in inventories

 

 

 

 

 

 

(62)

 

 

(15)

 

 

93

 

Decrease / (increase) in trading properties

 

 

 

 

 

 

92

 

 

 

192

 

 

 

(99)

(Increase) / decrease in trade and other receivables

 

 

 

 

 

 

(704)

 

 

(67)

 

 

5,353

 

(Decrease) / increase in trade and other payables

 

 

 

 

 

 

(291)

 

 

1,345

 

 

 

(11,971)

Increase in salaries and social security liabilities

 

 

 

 

 

 

920

 

 

 

67

 

 

 

188

 

Decrease in provisions

 

 

 

 

 

 

(67)

 

 

(209)

 

 

(379)

Net cash generated by / (used in) continuing operating activities before income tax paid

 

 

 

 

 

 

39,388

 

 

 

28,390

 

 

 

(5,842)

Net cash generated by discontinued operating activities before income tax paid

 

 

 

 

 

 

-

 

 

 

-

 

 

 

12,023

 

Net cash generated by operating activities before income tax paid

 

 

 

 

 

 

39,388

 

 

 

28,390

 

 

 

6,181

 

 

The following table shows balances incorporated as result of business combination or deconsolidation of subsidiaries:

 

 

 

June 30, 2023

 

 

June 30, 2022

 

 

June 30, 2021

 

Investment properties

 

 

-

 

 

 

-

 

 

 

415,546

 

Property, plant and equipment

 

 

-

 

 

 

-

 

 

 

169,649

 

Trading properties

 

 

-

 

 

 

-

 

 

 

27,185

 

Intangible assets

 

 

-

 

 

 

-

 

 

 

129,195

 

Investments in associates and joint ventures

 

 

-

 

 

 

-

 

 

 

171,253

 

Deferred income tax assets

 

 

-

 

 

 

-

 

 

 

2,007

 

Restricted assets

 

 

-

 

 

 

-

 

 

 

29,696

 

Income tax and MPIT credit

 

 

-

 

 

 

-

 

 

 

1,507

 

Trade and other receivables

 

 

-

 

 

 

-

 

 

 

249,909

 

Right-of-use assets

 

 

-

 

 

 

-

 

 

 

91,393

 

Investments in financial assets

 

 

-

 

 

 

-

 

 

 

111,862

 

Derivative financial instruments

 

 

-

 

 

 

-

 

 

 

1,300

 

Inventories

 

 

-

 

 

 

-

 

 

 

16,658

 

Group of assets held for sale

 

 

-

 

 

 

-

 

 

 

194,531

 

Borrowings

 

 

-

 

 

 

-

 

 

 

(1,503,569)

Lease liabilities

 

 

-

 

 

 

-

 

 

 

(83,768)

Deferred income tax liabilities

 

 

-

 

 

 

-

 

 

 

(57,484)

Trade and other payables

 

 

-

 

 

 

-

 

 

 

(108,709)

Provisions 

 

 

-

 

 

 

-

 

 

 

(25,083)

Employee benefits

 

 

-

 

 

 

-

 

 

 

(2,205)

Derivative financial instruments

 

 

-

 

 

 

-

 

 

 

(2,205)

Salaries and social security liabilities

 

 

-

 

 

 

-

 

 

 

(15,651)

Group of liabilities held for sale

 

 

-

 

 

 

-

 

 

 

(101,829)

Income tax expense

 

 

-

 

 

 

-

 

 

 

(2,106)

Net value of deconsolidated assets that do not affect cash

 

 

-

 

 

 

-

 

 

 

(290,918)

Cash and cash equivalents

 

 

-

 

 

 

-

 

 

 

(513,762)

Non-controlling interest

 

 

-

 

 

 

-

 

 

 

(221,013)

Net value of deconsolidated assets

 

 

-

 

 

 

-

 

 

 

(1,025,693)

The following table shows a detail of significant non-cash transactions occurred in the years ended June 30, 2023, 2022 and 2021:

 

 

 

06.30.2023

 

 

06.30.2022

 

 

06.30.2021

 

Increase of trading properties through an increase in borrowings

 

 

-

 

 

 

-

 

 

 

216

 

Increase of intangible assets through an increase of trade and other payables

 

 

-

 

 

 

26

 

 

 

-

 

Distribution of dividends in shares

 

 

-

 

 

 

-

 

 

 

2,572

 

Increase in non-convertible notes through a decrease in non-convertible notes

 

 

45,938

 

 

 

9,279

 

 

 

-

 

Decrease of property, plant and equipment through an increase of tax receivables and tax payables

 

 

-

 

 

 

-

 

 

 

293

 

Increase in investment properties through an increase in trade and other payables

 

 

143

 

 

 

399

 

 

 

-

 

Increase of investment properties through an increase of borrowings

 

 

-

 

 

 

-

 

 

 

1,440

 

Increase in intangible assets through a decrease in investment in associates

 

 

-

 

 

 

-

 

 

 

2,889

 

Currency translation adjustment

 

 

1,286

 

 

 

379

 

 

 

40,417

 

Increase in investment properties under barter agreements

 

 

-

 

 

 

6,767

 

 

 

-

 

Payment of non-convertible notes

 

 

-

 

 

 

1,365

 

 

 

-

 

Decrease in lease liabilities through a decrease in trade and other receivables

 

 

-

 

 

 

6

 

 

 

-

 

Decrease in investment properties through an increase in property, plant and equipment

 

 

23

 

 

 

3,359

 

 

 

-

 

Decrease in property, plant and equipment through an increase in investment properties

 

 

3,210

 

 

 

1,293

 

 

 

-

 

Decrease in property, plant and equipment through an increase in revaluation surplus

 

 

266

 

 

 

1,199

 

 

 

-

 

Decrease in revaluation surplus through an increase in deferred income tax liabilities

 

 

-

 

 

 

420

 

 

 

-

 

Increase in intangible assets through an increase salaries and social security liabilities

 

 

-

 

 

 

56

 

 

 

-

 

Increase in investments in associates through a decrease in investments in financial assets

 

 

-

 

 

 

1,865

 

 

 

-

 

Decrease in borrowings through a decrease in trade and other receivables

 

 

-

 

 

 

951

 

 

 

-

 

Increase in investments in associates and joint ventures through a decrease in trade and other receivables

 

 

31

 

 

 

-

 

 

 

-

 

Increase in investments in associates and joint ventures through a decrease in investments in financial assets

 

 

-

 

 

 

97

 

 

 

-

 

Capital contributions from non-controlling interest through a decrease of borrowings

 

 

-

 

 

 

9

 

 

 

-

 

Capital contributions from non-controlling interest through an increase in trade and other receivables

 

 

-

 

 

 

11

 

 

 

-

 

Decrease of trading properties through an increase in intangible assets

 

 

1,272

 

 

 

-

 

 

 

-

 

Decrease in investments in financial assets through a decrease in trade and other payables

 

 

368

 

 

 

-

 

 

 

-

 

Decrease in dividends receivables through an increase in investments in financial assets

 

 

13

 

 

 

-

 

 

 

-

 

Decrease in Shareholders’ Equity through a decrease in trade and other receivables

 

 

1,695

 

 

 

-

 

 

 

-

 

Decrease in investment properties through a decrease in investments in financial assets

 

 

78

 

 

 

-

 

 

 

-

 

Decrease in Shareholders’ Equity through a decrease in investments in financial assets

 

 

2,536

 

 

 

-

 

 

 

-

 

Increase in right-of-use assets through a decrease in lease liabilities

 

 

451

 

 

 

-

 

 

 

-

 

Increase of investments in financial assets through a decrease in trade and other receivables

 

 

580

 

 

 

-

 

 

 

-

 

Decrease of intangible assets through an increase in investment properties

 

 

53

 

 

 

-

 

 

 

-

 

Decrease of intangible assets through an increase in trading properties

 

 

147

 

 

 

-

 

 

 

-

 

Increase of investment properties through a decrease in trade and other receivables

 

 

46

 

 

 

-

 

 

 

-

 

Decrease in Shareholders’ Equity through an increase in trade and other payables

 

 

191

 

 

 

-

 

 

 

-

 

Increase of investment properties through a decrease in trading properties

 

 

579

 

 

 

-

 

 

 

-

 

Decrease in borrowings through a decrease in trading properties

 

 

338

 

 

 

-

 

 

 

-