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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
(Loss) profit for the year $ (285,640) $ 24,573 [1] $ (5,822) [1]
Adjustments to reconcile net profit (loss) to net cash provided by operating activities:      
Income tax expense (benefit) (40,528) 24,235 (14,821)
Depreciation and amortization charges, operating allowances and write-downs 123,024 119,137 104,529
Finance income 2,140 (5,374) (3,708)
Finance costs 66,139 62,022 65,412
Financial derivative (gain) loss (2,729) (2,838) 6,850
Exchange differences (2,884) 14,136 (8,214)
Impairment losses 175,899 58,919 30,957
Bargain purchase gain [1]   (40,142)  
Gain on disposal of discontinued operations (85,101)    
Loss (gain) due to changes in the value of assets 1,574 7,623 (7,504)
(Gain) loss on disposal of non-current assets 2,223 (14,564) 4,316
Share-based compensation 4,879 2,798 2,405
Other loss     2,613
Changes in operating assets and liabilities:      
(Increase) decrease in inventories 91,531 (101,024) (16,274)
(Increase) decrease in trade and other receivables 30,933 (25,807) 50,168
Increase (decrease) in trade and other payables (63,187) 55,410 17,613
Other changes in operating assets and liabilities (45,878) (25,901) (12,251)
Income tax paid (3,589) (36,408) (26,764)
Interest paid (43,033) (43,018) (39,130)
Net cash (used) provided by operating activities (74,227) 73,777 150,375
Cash flows from investing activities:      
Interest and finance income received 1,673 3,833 952
Payments due to investments:      
Acquisition of subsidiaries 9,088 (20,379)  
Other intangible assets (184) (3,313) (811)
Property, plant and equipment (32,445) (106,136) (74,616)
Other financial assets (1,248)   (343)
Disposals:      
Disposal of subsidiaries 176,590 20,533  
Other non-current assets 8,668 12,734  
Other 3,768 6,853  
Net cash provided (used) by investing activities 165,910 (85,875) (74,818)
Cash flows from financing activities:      
Dividends paid   (20,642)  
Payment for debt issuance costs (15,117) (4,905) (16,765)
Repayment of hydro leases (55,352)    
Repayment of other financial liabilities   (33,096)  
Proceeds from debt issuance     350,000
Increase (decrease) in bank borrowings:      
Borrowings 245,629 252,200 31,455
Payments (329,501) (106,514) (453,948)
Proceeds from stock option exercises   240 180
Other amounts (paid) due to financing activities (26,631) (13,880) (24,319)
Payments to acquire or redeem own shares   (20,100)  
Net cash (used) provided by financing activities (180,972) 53,303 (113,397)
Total net cash flows for the year (89,289) 41,205 (37,840)
Beginning balance of cash and cash equivalents 216,647 184,472 196,982
Exchange differences on cash and cash equivalents in foreign currencies (4,183) (9,030) 25,330
Ending balance of cash and cash equivalents $ 123,175 $ 216,647 $ 184,472
[1] The amounts for prior periods have been restated to reclassify the results of the Company´s Spanish hydroelectric assets within profit (loss) from discontinued operations.