Agro Pucalá Cash Flow Statement

Financials in millions PEN. Fiscal year is January - December.

Millions PEN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2003	FY 2002	FY 2001	FY 2000	FY 1999
Period Ending	Dec '03 Dec 31, 2003	Dec '02 Dec 31, 2002	Dec '01 Dec 31, 2001	Dec '00 Dec 31, 2000	Dec '99 Dec 31, 1999
Net Income	-30.43	-18.99	-8.32	-31.95	23.92
Depreciation & Amortization	3.48	4.05	4.82	4.66	4.61
Loss (Gain) From Sale of Assets	0.02	0.61	0.05	17.11	42.61
Asset Writedown & Restructuring Costs	-0.07	-0.01	-	-	-
Stock-Based Compensation	1.65	1.54	5.12	5.77	-
Provision & Write-off of Bad Debts	-	0.37	1.29	-	-
Other Operating Activities	1.87	1.01	10.93	-2.06	-13.37
Change in Accounts Receivable	0.27	0.26	0.54	7.32	0.13
Change in Inventory	9.46	-6.2	3.86	-9.78	9.01
Change in Accounts Payable	-0.95	2.98	-3.48	2.46	-0.81
Change in Unearned Revenue	-	-	0.08	-	-
Change in Income Taxes	0.05	0.24	0.08	-0.47	-
Change in Other Net Operating Assets	24.82	10.78	49.32	-17.47	15.58
Operating Cash Flow	10.18	-3.37	64.28	-24.4	81.67
Capital Expenditures	-0.01	-4.04	-0.61	-0.21	-0.04
Investment in Securities	-	-	-	-	-108.33
Investing Cash Flow	-0.01	-4.04	-0.61	-0.21	-108.37
Short-Term Debt Issued	5.95	5.79	8.45	15.39	-
Long-Term Debt Issued	-	-	-	-	32.19
Total Debt Issued	5.95	5.79	8.45	15.39	32.19
Short-Term Debt Repaid	-	-3.06	-10.17	-0.09	-0.42
Long-Term Debt Repaid	-16.93	-0.65	-57.07	-	-14.82
Total Debt Repaid	-16.93	-3.71	-67.24	-0.09	-15.24
Net Debt Issued (Repaid)	-10.98	2.08	-58.79	15.3	16.96
Issuance of Common Stock	-	3.56	1.33	-	-
Other Financing Activities	-	-	-	-	-1.03
Financing Cash Flow	-10.98	5.64	-57.46	15.3	15.92
Miscellaneous Cash Flow Adjustments	-	-	-6.33	9.02	10.95
Net Cash Flow	-0.81	-1.76	-0.13	-0.3	0.17
Free Cash Flow	10.17	-7.4	63.67	-24.62	81.63
Free Cash Flow Margin	39.70%	-32.57%	385.64%	-124.28%	255.89%
Free Cash Flow Per Share	0.49	-0.35	3.05	-1.18	3.91
Cash Income Tax Paid	-	-	-	-	3.97
Levered Free Cash Flow	47.81	1.14	-17.38	-121.99	-
Unlevered Free Cash Flow	55.45	7.47	-9.3	-112.34	-
Change in Net Working Capital	-64.28	-15.62	19.35	111.53	-

Updated Apr 19, 2001. Source: S&P Global Market Intelligence. Standard template. Financial Sources.