Notes 2018 2017 CASH FLOWS FROM OPERATING ACTIVITIES Deficit for the year (6,077,959) ( 1,758,352) Adjustments for: Depreciation: Property, plant and equipment 14 2,520,656 2,660.349 Investment properties 12 249 249 Amortisation of capital grants 20 ( 517,460) ( 473,821) Employee benefits obligation 2,456,149 3,096,887 Loss on sale of property, plant and equipment 292,024 5.630 Foreign exchange adjustments (8,760,61 1) ( 1,391,518) Discount on long-term receivables 164,870 871,210) Write-off of government receivables 6,861.385 Interest income ( 507.817) 538,817) Dividend income 33.924) 23,085 Deferred income 23 10.000) 10,000 Interest expense 571.957 601.538 (3,040,481) 1,297,850 Changes in: Accounts receivable 1.374,863 ( 1.499.033) Inventories ( 19.129) 28,413 Current liabilities ( 746.713) 726.198 Net cash (used )/provided by operating activities (2.431.460) 553.428 CASH FLOWS FROM INVESTING ACTIVITIES Interest received 511.201 334,111 Dividend received 33.924 23.085 Investment, (net) 1.927.673 796.058) (Increase)/decrease in resale agreements 50.349) 290.055 (Increase)/decrease in advances 7.822) 784 Long-term receivables (1,774,345) ( 954.133) Interest in subsidiaries 45.309 Purchase of property, plant and equipment 14 (3.684,915) ( 2.168,679) Proceeds from sale of property, plant and equipment 4.496 Net cash used by investing activities (3.044.633) ( 3.221.030) CASH FLOWS FROM FINANCING ACTIVITIES Interest paid ( 328, 111) ( 409.655) Unexpended donations for special projects 31,590 1.488,815 Endowment funds 19 83.743) ( 3,737) Capital grants received 20 2,481,792 1,322,901 Proceeds of long-term loans 2,010,872 89.025 Repayment of long-term loans (3.689.300) (2,038 536) Other long-term liabilities, (net) 3.273.352 35.451 Net cash provided by financing activities 3.696.452 413 362 NET DECREASE IN CASH AND CASH EQUIVALENTS (1,779.641) ( 2,254.240) CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR 8.550.243 10.804.483 CASH AND CASH EQUIVALENTS AT END OF THE YEAR 6.770.602 8 550 243Notes 2018 2017 CURRENT ASSETS Cash and cash equivalent 6.770.602 8.550.243 Resale agreements 1,226,428 1,176,078 Short-term investments 3.528,766 6,159.695 Accounts receivable 27,898,148 29,273,010 Inventories 437,434 418.305 39.861,378 45,577,331 CURRENT LIABILITIES 10 (23,058.336) (22.094.865) NET CURRENT ASSETS 16,803.042 23,482.466 NON-CURRENT ASSETS Advances 15,917 8,095 Long-term investments 9.940,144 9.221.290 Investment property 5.471 5,720 Long-term receivables 5,800,937 4,191.462 Property, plant and equipment 53.863.473 $1.234.453 69.625.942 64.661.020 86.428.984 88.143.486 RESERVES Cumulative translation reserve 15 18,729,322 16,906,057 Revaluation surplus 16 5,426,313 5,426,213 Investment revaluation reserve 17 1,692,070 1.676,472 General reserve 6,237.878 4,315,533 Accumulated (deficit )/fund (5,628.408) 2.074.547 Total reserves 26.457.175 30.398.822 NON-CURRENT LIABILITIES Unexpended donations for special projects 18 6.223,116 6,191,526 Endowment funds 19 234,227 317.391 Capital grants 20 19.655.454 16,861,781 Long-term liabilities 21 6,955.941 9,382.760 Employee benefits obligation 22(d) 26.744.738 24,822,873 Deferred income 23 158.333 168,333 Total non-current liabilities 59.971.809 57.744,664 56.428,984 88.143.486