Annual Report 2019-2020

44 Notes 2019 2018 Operating activities Operating income ................................................................................. 539,562,453 852,688,465 Depreciation............................................................................................... 10 47,881,008 47,300,726 Gain on sale of fixed assets ........................................................... 0 (17,124,23 1) Increase (decrease) in operating liabilities .............................. 58,404,720 (34,977,675) Exchange rate difference in Securities ...................................... (395,891,081) (287,486,994) Cash generated from operations 249,957,100 560,400,2 9 1 (Increase) in operating assets ...................................................... (16,237,754) (662,980) Increase in operating liabilities .................................................... 32,623,408 21,109,873 Net cash from operating activities 266,342,754 580,847,1 84 Investing activities (Purchases) of property and equipment............................... 10 (172,476,021) (35,692,1 37) (Purchases) of securities ................................................................... (26,195,920) (760,1 14,21 4) Installments of securities ................................................................... 262,616,350 130,897,464 (Purchases) sales of securities funds ......................................... (1,989,259) 652,968,060 Restricted bank deposits (increase)......................................... (244,710,069) (268,599.758) (182,754,919) (280,540,585) Net increase in cash and cash equivalents ................................ 83,587,835 300,306,599 Cash and cash equival. at the beg. of the year......................... 744,339,18 6 444,032,587 Cash and cash equivalents at the end of the year ................ 827,927,021 744,339,1 8 6 STATEMENT OF CASH FLOWS 2019 E F L I N G A N N U A L R E P O R T 2 0 1 9 – 2 0 2 0