SAKU õLLETEHASE AS

CASH FLOW STATEMENT

01.01-31.12.98

 

Consolidated, audited               

in EEK

                                            Group         Group         Parent      Parent

                                             1998           1997          1998        1997

                                                                                          

Net income                             56 342 477     43 039 054    56 339 425  43 025 661

Income tax                            -12 645 888     -9 242 413   -12 642 836  -9 180 508

Additional income tax for year 1996                     -105 182                  -105 182

Depreciation                           25 458 383     22 428 046    25 458 383  22 328 808

Effect of changes in 		         -120 456       -240 010      -120 456     -30 944

non-current assets ( -/+ )                                                                 

Total                                  69 034 516     55 879 495    69 034 516  56 037 835

                                                                                          

Change in inventories                 -12 508 288      8 519 821   -13 892 186  10 173 849

Change in receivables                 -10 905 641    -18 937 682   -10 739 365 -20 927 283

Change in current liabilities          12 053 144        425 047    13 398 635  -1 187 562

Total                                 -11 360 785     -9 992 814   -11 232 916 -11 940 996

                                                                                          

                                                                                          

Cash flow from operating activities    57 673 731     45 886 681    57 801 600  44 096 839

                                                                                          

Investing activities                                                                            

    Total investments                 -47 584 494    -25 333 766   -47 584 494 -25 333 766

    Proceeds from sale of 

    non-current assets                    722 170        828 507       722 170     337 653

    Financial investments                             -1 930 162      -100 000  -2 030 162

                                                                                          

Cash flow in investing activities     -46 862 324    -26 435 421   -46 962 324 -27 026 275

                                                                                          

Financing activities                                                                            

    Dividends paid                    -16 000 000     -8 000 000   -16 000 000  -8 000 000

    Repayment of loans given               42 360        322 142        42 360     322 142

    Change in the value of                                             -59 227     654 388

    financial investments                                                              

                                                                                          

Cash flow from financing activities   -15 957 640     -7 677 858   -16 016 867  -9 053 632

                                                                                          

Net cash flow                          -5 146 233     11 773 402    -5 177 591  10 047 094

                                                                                          

Cash and cash equivalents at the

beginning of year                      30 474 759     18 701 357    28 737 464  18 690 370

Cash and cash equivalents at the

end of period                          25 328 526     30 474 759    23 559 873  28 737 464

Change in cash and cash equivalents    -5 146 233     11 773 402    -5 177 591  10 047 094