| CONSOLIDATED CASH FLOW STATEMENT |
| MEUR |
|
|
|
|
|
2007 |
2006 |
| Cash flow from operating activities: |
| Profit before taxes |
|
372 |
447 |
| Adjustments: |
|
|
|
| Depreciation |
|
78 |
72 |
| Financial income and expenses |
|
8 |
6 |
| Selling profit and loss of fixed assets and other changes |
|
-7 |
-129 |
| Share of profit of associates |
|
-1 |
-68 |
| Cash flow before changes in working capital |
|
450 |
327 |
| |
| Changes in working capital: |
Current assets, non-interest-bearing,
increase (-) / decrease (+) |
|
-162 |
-125 |
| Inventories, increase (-) / decrease (+) |
|
-251 |
-189 |
Current liabilities, non-interest-bearing,
increase (-) / decrease (+)1 |
|
548 |
365 |
| Changes in working capital |
|
135 |
52 |
| |
| Cash flow from operating activities before financial items and taxes |
|
585 |
379 |
| |
| Financial items and taxes: |
| Interest and other financial expenses |
|
-42 |
-24 |
| Interest and other financial income |
|
15 |
4 |
| Income taxes |
|
-127 |
-56 |
| Financial items and taxes |
|
-154 |
-77 |
| |
| Cash flow from operating activities |
|
431 |
302 |
|
1Including Advances received, current and non-current.
|
| |
| Cash flow from investing activities: |
| Investments in shares and acquisitions |
|
-65 |
-86 |
| Investments in tangible and intangible assets |
|
-166 |
-99 |
| Proceeds from sale of shares |
|
7 |
318 |
| Proceeds from sale of tangible and intangible assets |
|
2 |
5 |
Loan receivables, increase (-), decrease (+)
and other changes |
|
|
2 |
| Dividends received from investments |
|
7 |
8 |
| Cash flow from investing activities |
|
-214 |
148 |
| |
| Cash flow after investing activities |
|
217 |
450 |
| |
| Cash flow from financing activities: |
| Issuance of share capital |
|
4 |
19 |
| New long-term loans |
|
65 |
6 |
| Amortization and other changes of long-term loans |
|
-33 |
-37 |
| Loan receivables, increase (-) / decrease (+) |
|
5 |
-7 |
| Current loans increase (+) / decrease (-) |
|
31 |
-85 |
| Dividends paid |
|
-168 |
-283 |
| Cash flow from financing activities |
|
-95 |
-387 |
| |
Change in liquid funds,
increase (+) / decrease (-) |
|
122 |
63 |
| |
| Cash and cash equivalents at beginning of period |
|
179 |
120 |
| Fair value adjustments, investments |
|
1 |
1 |
| Exchange rate changes |
|
-6 |
-4 |
| Cash and cash equivalents at end of period |
|
296 |
179 |
