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Annual Report 2013

q4 2013

q3 2013

q2 2013

q1 2013

Annual Report 2014

q4 2014

q3 2014

q2 2014

q1 2014

Annual Report 2015

q4 2015

q3 2015

q2 2015

q1 2015

q1 2016

q2 2016

q1 2016

q2 2016

q3 2016

q4 2016

Annual Report 2016

      

Consolidated statement of cash flows
MEUR 2015 2014 Note
Cash flow from operating activities:
Net profit for the financial period 451 351
Adjustments for:
Depreciation, amortisation and impairment 124 119 8
Financial income and expenses 34 28 10
Gains and losses on sale of intangible assets and property, plant and equipment and other changes -27 2
Share of result of associates and joint ventures -17 -24 15
Income taxes 124 99 11
Cash flow before changes in working capital 688 574
Changes in working capital:
Receivables, non-interest-bearing, increase (-) / decrease (+) -193 -52
Inventories, increase (-) / decrease (+) 79 206 17
Liabilities, non-interest-bearing, increase (+) / decrease (-) -229 -122
Changes in working capital -343 32
Cash flow from operating activities before financial items and taxes 346 606
Financial items and taxes:
Interest and other financial income 45 29
Interest and other financial expenses -29 -36
Income taxes paid -108 -147
Financial items and paid taxes -91 -154
Cash flow from operating activities 255 452
Cash flow from investing activities:
Acquisitions -258 2
Investments in associates and joint ventures -9 15
Investments in available-for-sale financial assets -1 16
Investments in property, plant and equipment and intangible assets -79 -99 13 14
Proceeds from sale of property, plant and equipment and intangible assets 13 14
Proceeds from sale of available-for-sale financial assets 1 16 16
Loan receivables, increase (-) / decrease (+), and other changes -1
Disposal of discontinued operations, net of cash 44
Dividends received 1
Cash flow from investing activities -288 -71
Cash flow after investing activities -33 381
Cash flow from financing activities:
Proceeds from non-current debt 50 100 25
Repayments and other changes in non-current debt -112 -81 25
Loan receivables, increase (-) / decrease (+) -16
Current loans, increase (+) / decrease (-) 110 -18
Dividends paid -242 -211
Cash flow from financing activities -210 -210
Change in cash and cash equivalents, increase (+) / decrease (-) -243 172
Cash and cash equivalents at the beginning of the financial period 571 388
Exchange rate changes 5 12
Net change in cash effect from discontinued operations 1
Cash and cash equivalents at the end of the financial period 334 571
The notes are an integral part of these consolidated financial statements.

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