AS NORMA

CASH FLOW STATEMENT

01.01-31.12.98

 

Consolidated, audited

in thousand EEK

 

 

 

                                                       1998             1997

Cash flows from operating activities: 

Net profit                                           84 047          195 780

Profit/loss from sales of non-current assets            257             -218

Depreciation of non-current assets                   28 669           23 981

Residual value of disposed assets                       167              102

Increase/decrease in current assets                  37 423          -33 041

Increase/decrease in current liabilities              4 772           13 043

Interests and other financial revenues received       3 754            5 157

Interests paid                                       -4 331           -3 123

Other financial expenses                             -3 589                0

Taxes paid                                          -57 374          -19 628

Loss from financing activities                         -954           -2 428

Net cash flow from operating activities:             92 841          179 626

 

Cash flows in investing activities: 

Disposal  of non-current assets                       1 612              861

Purchase of non-current assets                      -69 320          -49 048

Acquisition of affiliated companies                       0           -2 381

Disposal of affiliated companies                      5 001              982

Disposal of subsidiaries                                  0               65

Loans made                                             -985           -2 442

Loan payments received                                1 987            1 206

Net cash flow in investing activities               -61 705          -50 757

 

Cash flows from financing activities:

Proceeds from borrowings                             80 171                0

Repayment of loans                                        0          -63 786

Dividends paid                                     -105 600          -13 200

Net cash flow from financing activities             -25 429          -76 986

NET CASH FLOWS:                                       5 707           51 883

 

Increase/decrease in cash and cash equivalents: 

Cash and cash equivalents at beginning of period:    75 330           21 730

Increase                                              5 707           51 883

Exchange differences                                -13 996            1 717

Cash and cash equivalents at the end of period:      67 041           75 330

incl. cash and bank                                  66 893           17 818

marketable securities                                   148           57 512

 

 

Raivo Harand

Controller

+372 650 0482