Consolidated cash flow statement


MEUR		Note	Jan 1–Dec 31 2011	Jan 1–Dec 31 2010

Cash flows from operating activities
Profit for the period			160	231
Adjustments for
	Income tax	14	46	65
	Share of profit (loss) of associates and joint ventures	19	-26	-15
	Depreciation and amortization	11	315	259
	Other non-cash income and expenses		0	131
	Financial expenses - net	13	67	27
	Profit/loss from disposal of fixed assets and shares	8	-12	-7
			550	691

Change in working capital
	Decrease (+)/increase (-) in trade and other receivables		-166	-148
	Decrease (+)/increase (-) in inventories		-404	76
	Decrease (-)/increase (+) in trade and other payables		348	558
	Change in working capital		-222	486

			328	1,177

Interest and other finance cost paid			-68	-29
Interest income received			5	4
Dividends received			0	0
Realized foreign exchange gains and losses			19	-14
Income taxes paid			-87	-33
			-131	-72

Net cash generated from operating activities			197	1,105

Cash flows from investing activities
Purchases of property, plant and equipment		17	-341	-924
Purchases of intangible assets		18	-23	-8
Purchases of subsidiaries, net of cash acquired		6	-	-8
Purchases of associates and joint ventures		19	-	0
Purchases of other shares			0	-3
Proceeds from sale of subsidiaries, net of cash disposed		6	2	6
Proceeds from sale of property, plant and equipment			22	4
Proceeds from sale of other shares			0	0
Changes in non-current receivables			-25	19
Net cash used in investing activities			-365	-914

Cash flow before financing activities			-168	191

Cash flows from financing activities
Payment of (-) / proceeds from (+) current interest-bearing liabilities			47	-142
Proceeds from non-current interest-bearing liabilities			457	1,171
Repayments of non-current interest-bearing liabilities			-324	-893
Dividends paid to the owners of the parent			-90	-64
Dividends paid to non-controlling interests			-	-2
Other financing activities			0	0
Net cash used in financing activities			90	70

Net decrease (-)/increase (+) in cash and cash equivalents			-78	261

Cash and cash equivalents at the beginning of the period			380	117
Exchange gains (+)/losses (-) on cash and cash equivalents			2	2
Cash and cash equivalents at the end of the period		24	304	380
The notes are an integral part of the consolidated financial statements.