| CONSOLIDATED CASH FLOW STATEMENT | | |
| | | |
| | 1.1.2005-31.12.2005 | 1.1.2004-31.12.2004 |
| Cash flow from operating activities | | |
| Profit for the financial year | 62.0 | 25.8 |
| Operations for which a payment is not included 1) | 91.7 | 80.6 |
| Interest and other financial expenses | 14.6 | 23.6 |
| Other financial income 2) | -12.0 | -6.3 |
| Dividend income | -0.3 | -0.3 |
| Taxes | 25.5 | 4.8 |
| Changes in working capital: | | |
| Change in trade and other receivables | -18.5 | -61.9 |
| Change in inventories | 1.3 | 1.9 |
| Change in accounts payables and other liabilities | 33.5 | 78.2 |
| Interest paid trade payablest | -9.5 | -11.8 |
| Paid financial expenses | -1.5 | -10.3 |
| Received interest | 7.0 | 5.2 |
| Taxes paid | -2.0 | 0.0 |
| Net cash flow from operating activities | 191.8 | 129.5 |
| | | |
| Cash flow from investing activities | | |
| Sell of subsidiarys, net of cash sold 3) | 3.5 | 0.0 |
| Investments in intangible assets | -16.1 | -19.1 |
| Investments in tangible assets | -57.7 | -93.9 |
| Investments in other non-current investments | 0.0 | -0.4 |
| Net change of financial interest bearing assets at fair value through profit or loss 4) | -30.2 | 12.1 |
| Sales of associated companies 3) | 0.0 | 0.7 |
| Sales of tangible fixed assets | 2.8 | 2.2 |
| Received dividends | 0.3 | 0.3 |
| Change in non-current receivable | -2.6 | 7.1 |
| Net cash flow from investing activities | -100.0 | -91.0 |
| | | |
| Cash flow from financing activities | | |
| Loan withdrawals | 11.0 | 9.4 |
| Loan repayments | -19.0 | -27.9 |
| Purchase of own shares | -1.5 | -2.3 |
| Sales own shares | 0.2 | 0.0 |
| Option right to own shares | 12.6 | 0.0 |
| Share premium account changes | 2.3 | 0.0 |
| Dividends paid | -8.5 | -8.5 |
| Net cash flow from financing activities | -2.9 | -29.3 |
| | | |
| Change in cash flows | 88.9 | 9.2 |
| | | |
| Change in liquid funds | | |
| Liquid funds, at the beginning | 250.5 | 241.3 |
| Change in cash flows | 88.9 | 9.2 |
| Liquid funds, in the end 5) | 339.4 | 250.5 |
| | | |
| The cash flow statement analyses changes in the Group's cash and cash equivalents during the financial year. The cash flow statement has been divided according into the IAS 7 standard in operating, investing and financing cash flows. | | |
| Notes to consolidated cash flow statement: | | |
| EUR mill. | | |
| _1)_Operations for which a payment is not included | | |
| | 2005 | 2004 |
| Depreciation | 90.7 | 104.1 |
| Employee benefits | 2.6 | -27.4 |
| Other adjustments | -1.6 | 3.9 |
| | 91.7 | 80.6 |
| | | |
| 2) Fair value changes of shares reconised at Financial assets at fair value through profit or loss are eliminated from cash flow from operating activities. Shares reconised at Financial assets at fair value through profit or loss are itemised in notes 20 and 29. | | |
| | | |
| 3) The Group has disposed of its real-estate companies in 2005 and an associated company, Gourmet Nova, in March 2005. Information about the assets, liabilities, and cash and cash equivalents of the companies are presented in the notes to the income statement, in item 4. | | |
| | | |
| 4) Net change in of financial interest bearing assets at fair value through at fait valueprofit or loss maturing after more than 3 months | | |
| 5) Financial assets at fair value through profit or loss | | |
| Balance sheet item | | |
| Investments | 391.7 | 268.2 |
| Cash and bank equivalents | 26.7 | 29.6 |
| Short-term cash and cash equivalents in balance sheet | 418.4 | 297.8 |
| Shares held for trading purposes | -7.9 | -6.3 |
| Maturing after more than 3 months | -71.1 | -41.0 |
| Total | 339.4 | 250.5 |
| | | |
| Cash and cash equivalents encompass cash and bank deposits as well as other highly liquid financial assets whose term to maturity is a maximum of three months. Such items are e.g. certificate of depositel and commercial papers. Balance sheet items are itemised in notes 20 and 21. | | |
| Cash and cash equivalents have been changed to correspond with the above definition at the beginning and end of 2005. | | |
| | | |
