| Consolidated Cash Flow Statement |
| | | |
| MEUR | 2009 | 2008 |
| | | |
| Cash flow from operating activities: | | |
| Profit before taxes | 558 | 516 |
| Adjustments: | | |
| Depreciation and amortisations | 165 | 99 |
| Financial income and expenses | 34 | 9 |
| Selling profit and loss of fixed assets and other changes | -7 | 2 |
| Share of profit of associates and joint ventures | -6 | |
| Cash flow before changes in working capital | 743 | 626 |
| | | |
| Changes in working capital: | | |
| Assets, non-interest-bearing, increase (-) / decrease (+) | 114 | -278 |
| Inventories, increase (-) / decrease (+) | 66 | -561 |
| Liabilities, non-interest-bearing, increase (+) / decrease (-) | -358 | 589 |
| Changes in working capital | -179 | -250 |
| | | |
| Cash flow from operating activities before financial items and taxes | 564 | 377 |
| | | |
| Financial items and taxes: | | |
| Interest and other financial expenses | -72 | -45 |
| Interest and other financial income | 15 | 50 |
| Income taxes | -158 | -104 |
| Financial items and taxes | -215 | -99 |
| | | |
| Cash flow from operating activities | 349 | 278 |
| | | |
| Cash flow from investing activities: | | |
| Investments in shares and acquisitions | -16 | -198 |
| Investments in tangible and intangible assets | -136 | -168 |
| Proceeds from sale of shares | 3 | 9 |
| Proceeds from sale of tangible and intangible assets | -21 | 21 |
| Loan receivables, increase (-) / decrease (+) and other changes | -1 | 1 |
| Dividends received from investments | 8 | 7 |
| Cash flow from investing activities | -163 | -329 |
| | | |
| Cash flow after investing activities | 187 | -51 |
| | | |
| Cash flow from financing activities: | | |
| New long-term loans | 263 | 260 |
| Amortisation and other changes in long-term loans | -109 | -4 |
| Loan receivables, increase (-) / decrease (+) | 3 | |
| Current loans, increase (+) / decrease (-) | -141 | 129 |
| Dividends paid | -156 | -412 |
| Cash flow from financing activities | -140 | -26 |
| | | |
| Change in cash and cash equivalents,
increase (+) / decrease (-) | 47 | -76 |
| | | |
| Cash and cash equivalents at beginning of period | 197 | 296 |
| Cash and cash equivalents of joint ventures at beginning of period | | -18 |
| Fair value adjustments, investments | | 1 |
| Exchange rate changes | | -6 |
| Cash and cash equivalents at end of period | 244 | 197 |