Annual report 2013
Annual report 2013
| EUR 1,000 | Group 2013 |
Group 2012 |
Parent company 2013 |
Parent company 2012 |
|
| Cash flows from operating activities | |||||
| Profit/loss before non-recurring items | 75,868 | 62,487 | 4,652 | 2,392 | |
| Adjustments: | |||||
| Depreciation according to plan and impairment | 53,700 | 51,277 | 691 | 423 | |
| Other income and expenses not including payments | -576 | -554 | |||
| Financial income and expenses | 40,303 | 50,187 | -5,303 | -4,133 | |
| Other adjustments | -8,739 | -5,023 | -1,017 | ||
| Cash flow from operating activities before change in working capital |
160,556 | 158,375 | -978 | -1,318 | |
| Change in working capital: | |||||
| Change in sales receivables and other receivables | 1,180 | -851 | -14,787 | 5,956 | |
| Change in inventories | -632 | 7,193 | |||
| Change in accounts payable and other liabilities | -1,539 | -6,451 | 328 | 811 | |
| Change in developer’s liability for debts | -1,151 | -2,739 | |||
| Cash flows from operating activities before financial items, provisions and taxes | 158,413 | 155,527 | -15,436 | 5,448 | |
| Interest paid and payments on other operational financial costs |
-46,754 | -52,125 | -1,371 | -1,077 | |
| Financial income from operating activities | 2,294 | 1,870 | 551 | 863 | |
| Direct taxes paid | -15,483 | -10,784 | -4,042 | -4,958 | |
| Cash flows from operating activities (A) | 98,470 | 94,488 | -20,298 | 276 | |
| Cash flows from investing activities | |||||
| Investments in tangible and intangible assets | -148,527 | -75,612 | -295 | -2,000 | |
| Contributions received for investments | 1,627 | 1,244 | |||
| Capital gains from the disposal of tangible and intangible assets | 10,077 | 7,404 | 144 | ||
| Other investments | -212 | -104 | |||
| Capital gains on other investments | 892 | 306 | |||
| Granted long-term loans | -23 | -99,423 | |||
| Repayments of long-term loan receivables | 43 | 3 | 23 | ||
| Granted short-term loans | -7,781 | ||||
| Repayments of loans receivable | 2,298 | ||||
| Subsidiary shares acquired *) | -60,673 | -10 | |||
| Subsidiary shares divested *) | 5,745 | 1,110 | 3,042 | ||
| Participating interests acquired | -410 | -281 | |||
| Participating interests divested | 102 | -1 | |||
| Interest and dividends received on investments | 650 | 668 | 3,986 | 4,059 | |
| Cash flows from investing activities (B) | -190,709 | -65,263 | -90,226 | -5,732 | |
| Cash flows from financing activities | |||||
| Withdrawals of long-term loans | 181,977 | 61,438 | 100,000 | 5,793 | |
| Repayments of long-term loans | -58,800 | -54,346 | -7,754 | -1,225 | |
| Change in short-term loans | 5,849 | -15,018 | 5,848 | -8,989 | |
| Acquired financial securities | -75,599 | -29,886 | -4,075 | -9,092 | |
| Capital gains from financial securities | 66,937 | 22,571 | 14,453 | 6,336 | |
| Dividends paid | -14,805 | -11,844 | -14,805 | -11,844 | |
| Group contribution received | 13,900 | 16,386 | |||
| Cash flows from financing activities (C) | 105,559 | -27,085 | 107,567 | -2,636 | |
| Change in cash and cash equivalents (A+B+C) | 13,319 | 2,140 | -2,957 | -8,092 | |
| Cash and cash equivalents at beginning of period | 128,963 | 126,823 | 6,741 | 14,833 | |
| Cash and cash equivalents at end of period | 142,283 | 128,963 | 3,784 | 6,741 | |
| *) Shares acquired and divested less cash and cash equivalents on acquisition date. Cash and cash equivalents include bank accounts, liquid deposit notes and certificates of deposit. |
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