ESTIKO

CASH FLOW STATEMENT

 

GROUP CASH FLOW STATEMENT 01.01.-31.12.1999

 

Consolidated, in thousand EEK

                                                        1999       1998

I  Operating activities

Operating profit                                       7,330      6,792

Accumulated depreciation                              10,856     13,041

Loss from sale of fixed assets                            49

Profit from sale of fixed assets                      -2,221

Profit from sale of investments                          -18

Loss from sale of investments                            335

Adjustments to changes in receivables and assets      16,603      6,465

Adjustments to changes in liabilities                -23,910     -7,193

Net cash flow from operating activities                9,024     19,105

 

II   Investing activities

Purchase of fixed assets                              -5,413    -56,357

Prepayments for fixed assets                          -4,562

Proceeds from sale of fixed assets                     7,074

Acquisition of investments                            -1,208

Sale of investments                                    3,020

Repayment of loans                                       411

Net cash used in investing activities                   -678    -56,357

 

III  Financing activities

Proceeds from borrowings                              16,940     37,573

Repayment of borrowings                              -23,571

Dividends paid                                                   -2,995

Change in treasury shares                                        -1,539

Finance lease payments                                -4,540

Net cash used in financing activities                -11,171     33,039

 

Net cash flow                                         -2,825     -4,213

 

Cash and cash equivalents at beginning of period       3,875      8,088

 

Cash and cash equivalents at end of period             1,050      3,875

 

Net change in cash                                    -2,825     -4,213

 

 

Mart Raik

Chairman of the Management Board

Tel. +372 74 70 724