PARENT COMPANY'S CASH FLOW STATEMENT, FAS

MEUR
1 Jan–31 Dec 2017 1 Jan–31 Dec 2016
CASH FLOW FROM OPERATING ACTIVITIES


Net profit for the financial year
62.5 52.6
Adjustments:


Depreciation
1.1 1.1
Financial income (-) and expenses (+)
41.1 39.0
Income tax
15.6 13.2
Proceeds (-) and losses (+) on sales of tangible assets
-0.2 -0.2
Group contribution
-125.6 -110.2
Other adjustments
-0.5 0.5
Cash flow before change in working capital
-5.9 -4.1




Change in working capital


Decrease (+)/increase(-) in current non-interest bearing receivables
1.7 0.3
Decrease (+)/increase(-) in inventories
2.9 1.7
Decrease (-)/increase(+) in current loans
-0.2 -2.4
Cash flow before financial items and taxes
-1.4 -4.5




Interest paid
-48.1 -18.3
Interest received
3.3 1.7
Other financial expenses
-12.5 -11.4
Direct taxes paid
-19.7 -4.6
Cash flow from operating activities (A)
-78.5 -37.1




CASH FLOW FROM INVESTING ACTIVITIES


Investments in tangible and intangible assets
-1.4 -0.9
Income from disposals of tangible assets
0.2 0.3
Other investments to subsidiaries
0.0 -250.3
Placements in other investments
-0.1 0.0
Proceeds from other investments
0.0 0.0
Loans granted
-395.0 0.0
Instalments on loan receivable
7.8 3.4
Cash flow from investing activities (B)
-388.4 -247.5




CASH FLOW FROM FINANCING ACTIVITIES


Loans taken
281.4 428.1
Payments on loans
-3.9 -103.7
Changes in short-term cash pool liabilities and receivables
66.5 -163.7
Group contributions (contribution-based)
110.2 52.0
Dividends paid and other distribution of profit
0.0 -25.4
Payments received from the issue of shares
0.0 98.7
Cash flow from financing activities (C)
454.3 286.0
Cash and cash equivalents at the beginning of the year
12.6 11.2
Cash and cash equivalents at the end of the year
0.0 12.6