ANNUAL REPORT 2012

Financials

Parent company statement of cash flows


EUR 2012 2011
CASH FLOW FROM OPERATING ACTIVITIES
Profit before appropriations and taxes 446,394,047.76 170,756,123.36
Adjustments for
Depreciation, amortization and impairment 1,616,884.47 1,692,039.48

Investment income -115,273.50 -164,657.76

Interest income and dividends -63,453,940.33 -2,666,848.35

Interest expenses 3,638,451.83 4,569,791.86

Change in provisions and other non-cash items -383,116,291.26 -169,759,631.14
Cash flow before changes in working capital 4,963,878.97 4,426,817.45




Changes in working capital
Change in current assets, non-interest bearing 808,256.51 457,285.77
Change in inventories 67,558.21 14,782.16
Change in current liabilities, non-interest bearing -5,763,324.04 144,199.78
Cash flow from operating activities before financial items and taxes 76,369.65 5,043,085.16




Dividends received 60,302,231.32 506.81
Financial income received 2,747,212.84 2,527,377.85
Financial expenses paid -4,053,880.75 -4,272,774.60
Taxes paid -1,551,213.62 -6,026,521.04
Cash flow from operating activities (A) 57,520,719.44 -2,728,325.82




CASH FLOW FROM INVESTING ACTIVITIES
Investments in group companies
-131.40
Repayment of equity, Avlis AB 81,068,283.68 150,500,000.00
Investments in financial assets -207,373.61 -179,000.00
Investments in property, plant & equipment -803,316.48 -1,304,000.00
Proceeds from sale of property, plant & equipment and other investments 151,915.70 285,786.16
Sale of other holdings 311.09 296,000.00
Change in long term loan receivables 2,997,936.66 70,204,189.82
Cash flow from investing activities (B) 83,207,757.04 219,802,844.58




CASH FLOW FROM FINANCING ACTIVITIES
Purchase of treasury shares
-71,000.00
Change in current debt -64,429,668.40 -15,622,656.81
Change in current receivables 32,362,528.84 -64,312,874.12
Dividends paid -112,186,960.94 -155,630,371.80
Group contribution received/paid 4,667,800.00 18,109,000.00
Cash flow from financing activities (C) -139,586,300.50 -217,527,902.73




Change in cash and cash equivalents (A+B+C) 1,142,175.98 -453,383.97




Cash and cash equivalents at beginning of period 487,814.02 941,197.99
Cash and cash equivalents at end of period 1,629,990.00 487,814.02