|
Consolidated statement of cash flows
|
|
|
|
|
|
MEUR
|
2012
|
2011
|
|
|
|
|
|
Cash flow from operating activities:
|
|
|
|
Profit for the financial period
|
344
|
293
|
|
Adjustments for:
|
|
|
|
Depreciation, amortisation and impairment
|
139
|
113
|
|
Financial income and expenses
|
30
|
16
|
|
Selling profit and loss of fixed assets and other changes
|
-16
|
-6
|
|
Share of result of associates and joint ventures
|
-9
|
-8
|
|
Income taxes
|
109
|
136
|
|
Cash flow before changes in working capital
|
596
|
544
|
|
|
|
|
|
Changes in working capital:
|
|
|
|
Assets, non-interest-bearing, increase (-) / decrease (+)
|
-233
|
3
|
|
Inventories, increase (-) / decrease (+)
|
-6
|
33
|
|
Liabilities, non-interest-bearing, increase (+) / decrease (-)
|
-37
|
-125
|
|
Changes in working capital
|
-276
|
-88
|
|
|
|
|
|
Cash flow from operating activities before financial items and taxes
|
320
|
456
|
|
|
|
|
|
Financial items and taxes:
|
|
|
|
Interest and other financial income
|
14
|
25
|
|
Interest and other financial expenses
|
-71
|
-49
|
|
Income taxes paid
|
-110
|
-199
|
|
Financial items and paid taxes
|
-167
|
-224
|
|
|
|
|
|
Cash flow from operating activities
|
153
|
232
|
|
|
|
|
|
Cash flow from investing activities:
|
|
|
|
Acquisitions
|
-392
|
-75
|
|
Investments in associates and joint ventures
|
-7
|
-16
|
|
Investments in available-for-sale financial assets
|
-3
|
|
|
Investments in property, plant and equipment and intangible assets
|
-111
|
-90
|
|
Proceeds from sale of property, plant and equipment and intangible assets
|
12
|
9
|
|
Proceeds from sale of shares in associates and joint ventures
|
23
|
|
|
Proceeds from sale of available-for-sale financial assets
|
3
|
3
|
|
Loan receivables, increase (-) / decrease (+) and other changes
|
2
|
|
|
Dividends received
|
2
|
3
|
|
Cash flow from investing activities
|
-471
|
-166
|
|
|
|
|
|
Cash flow after investing activities
|
-318
|
66
|
|
|
|
|
|
Cash flow from financing activities:
|
|
|
|
Proceeds from non-current borrowings
|
158
|
|
|
Repayments and other changes in non-current loans
|
-92
|
-50
|
|
Loan receivables, increase (-) / decrease (+)
|
4
|
2
|
|
Current loans, increase (+) / decrease (-)
|
69
|
79
|
|
Dividends paid
|
-186
|
-279
|
|
Cash flow from financing activities
|
-47
|
-247
|
|
|
|
|
|
Change in cash and cash equivalents, increase (+) / decrease (-)
|
-365
|
-181
|
|
|
|
|
|
Cash and cash equivalents at the beginning of the financial period
|
592
|
776
|
|
Exchange rate changes
|
-2
|
-3
|
|
Cash and cash equivalents at the end of the financial period
|
225
|
592
|