CONSOLIDATED STATEMENT OF CASH FLOWS, IFRS

MEUR note 1 Jan–31 Dec 2017 1 Jan–31 Dec 2016
Cash flow from operating activities      
Profit for the period   146.3 174.7
Adjustments:      
Non-cash items included in the profit 32 -66.2 -122.5
Profit and loss on sales of investment properties and fixed assets   0.3 -1.0
Other adjustments   0.3 0.0
Interest expenses and other financial expenses 10 46.5 48.4
Interest income 10 -0.6 -0.6
Dividend income   -0.1 0.0
Income taxes 11 38.6 44.8
Cash flow before change in net working capital   165.1 143.7
       
Change in net working capital:      
Changes in accounts receivable and other receivables   2.0 -1.4
Changes in accounts payable and other liabilities   -13.6 12.1
Interest paid   -46.2 -43.0
Interest received   0.6 0.5
Taxes paid   -25.8 -13.8
Net cash flow from operating activities   82.1 98.1
       
Cash flow from investing activities      
Acquisitions of investment properties   -156.5 -327.0
Net investment in tangible and intangible assets   32.8 6.1
Repayments of loans receivable   2.1 0.9
Payments of granted loans   0.0 -1.9
Disposals of investment property   43.3 52.1
Net cash flow from investing activities   -78.3 -269.8
       
Cash flow from financing activities      
Repayments (-) / withdrawals (+) of current loans   31.1 6.1
Withdrawals of non-current loans   273.5 381.6
Repayments of non-current loans   -312.3 -332.9
Payments received from the issue of shares   0.0 98.7
Repayment of capital and dividends paid 23 0.0 -25.4
Net cash flow from financing activities   -7.8 128.1
Change in cash and cash equivalents   -3.9 -43.6
Cash and cash equivalents at the beginning of period   18.3 60.7
Effect of exchange rate fluctuations on cash held   -0.2 0.4
Cash M&A   0.0 0.9
Cash and cash equivalents at the end of period   14.2 18.3