AS EESTI MOBIILTELEFON

CASH FLOW STATEMENT

01.01.-31.12.98

 

IAS

EEK thous.

 

                                                                       Group                            EMT

 

                                                                        1998            1997            1998            1997

Cash flow from operating activities

Profit before income tax                                             499,667         335,840         497,273         335,840

Depreciation                                                         170,292         120,821         166,045         120,634

Profit (-) from sales and write-off of fixed assets                     -131             283            -106             283

Profit (-) from affiliated companies under the equity method                                          -4,099               0

Income tax paid                                                      -92,064         -31,995         -90,549         -28,372

Interest income                                                       -6,670          -2,583          -6,515          -2,683

Interest expense                                                       5,556           5,484           5,530           5,484

Change in short-term receivables                                     -24,326         -32,552         -25,662         -32,552

Change in inventories                                                 -5,207         -20,198           1,360         -22,734

Change in current liabilities (excl. bank loans)                      23,987         -16,014          22,123         -15,912

Foreign exchange gains and other non-cash adjustments                 -1,015            -159          -1,073          -1,247

Total cash flow from operating activities                            570,088         358,927         564,326         358,743

 

Cash flow from investing activities

Proceeds from sale financial investments                                 121            -330             121            -330

Proceeds from sale of fixed assets                                     2,390             728           2,302             728

Interest received                                                      6,662           2,689           6,515           2,683

Purchase of a subsidiary                                             -18,594               0         -22,500               0

Capital expenditure                                                 -364,415        -255,666        -361,072        -255,666

Total cash flow from investing activities                           -373,836        -252,579        -374,634        -252,585

 

Cash flow from financing activities

Proceeds from short-term borrowings                                  232,000          48,000         232,000          48,000

Repayment of short-term borrowings                                  -280,000               0        -280,000               0

Interest paid                                                         -5,980          -5,088          -5,980          -4,926

Repayment of long-term borrowings                                     -5,360         -16,149          -5,360         -16,149

Dividends paid                                                      -172,000         -40,000        -172,000         -40,000

Minority contributions for shares                                        320

Total cash flow from financing activities                           -231,020         -13,238        -231,340         -13,076

 

Net change in cash                                                   -34,768          93,110         -41,648          93,082

 

Cash and equivalents at 01.01                                        121,725          28,616         121,543          28,461

 

Cash and equivalents at 31.12                                         86,957         121,725          79,895         121,543