O P E R A T I N G C A S H F L O W

G S K P A K L T D

P R E S E N T E D B Y :

D A N E Y A L M I R Z A

A N U M M A N Z A R

Z U N A I R A H M U N A W A R

S E H R I S H K A N W A L

M O H A M M E D I M R A N

A U D I E N C E :

Direct & Indirect Operating Cash Flows for GlaxoSmithKline Pakistan Limited (GLAXO)

C O R P O R A T E F I N A N C E S E C T I O N C

U C P M B A F A L L 1 4 ’

M R . H A F I Z M U S A D D I Q

OPERATING CASH FLOW VIA INDIRECT METHOD

for the year ended December 31, 2013

Rupees in ‘000

Net Income 599,520

Adjustments for non-cash charges and other items: Add / (less)

Depreciation and impairment 513,622 Gain on disposal of operating assets (39,485) Gain on transfer of marketing authorisation

and related trademarks rights of certain products

(186,500)

Interest income (158,887) Provision for staff retirement benefits 96,026 Staff retirement benefits paid (100,242) Decrease in long-term loans to employees and

deposits11,776

Subtotal 735,830

Change in Operating Accounts

Assets Increase in Stores and spares (15,857) Increase in Stock-in-trade (1,191,185) Decrease in Trade debts 412 Increase in Loans and advances given (5,393) Increase in Trade deposits and prepayments (26,050) Refunds due from government (6,192) Other receivables 52,488

Liabilities Increase in Trade and other payables 1,548,118 Decrease in Provisions (35,637)

Subtotal 320,704

Cash flow from Operations (CFO) 1,056,534

OPERATING CASH FLOW VIA DIRECT METHOD

for the year ended December 31, 2013

Rupees in ‘000

Cash Collected from Customers 25,296,211

Cash Paid to Suppliers / Service Providers (19,893,193)

Cash Paid to Employees (2,711,605)

Cash Paid To Govt. (1,416,685)

Cash Paid For Royalty and Technical Services Fee

(20,241)

Cash Paid To Retirement Funds (181,702)

Cash Paid For Financial Audit (16,147)

Cash Paid to Creditor (104)

Cash Flow from Operations (CFO) 1,056,534

**Cash Paid to Employees = Salary, wages and benefits to all departments collective

*** Cash Paid to Govt. = payment of indirect taxes & statutory duties + income tax paid