Investor Relations

Consolidated statement of cash flows 2009

NOK million Notes 2009 2008
 
Operating activities
Operating Income 4 1,271 12,281
 
Adjustments to reconcile operating income to net cash
provided by operating activities
Depreciation and amortization 4,9,11 2,425 2,095
Impairment loss and write downs (1,603) 2,239
Tax paid (2,178) (1,839)
Dividend from equity accounted investees 12 409 1,223
Interest and bank charges received/(paid) (926) (431)
Gain/(loss) on sale of non-current assets 2 (41) (554)
Other (698) 78
 
Working capital changes that provided/(used) cash
Receivables 2,753 482
Inventories 12,604 (9,978)
Prepaid expenses and other current assets 857 762
Payable (547) (2,791)
Other interest free liabilities (2,403) 419
Net cash provided by operating activities   11,925 3,986
 
Investing activities
Purchases of property, plant and equipment 4,11 (4,260) (3,276)
Purchases of other long-term investments 2,3,4 (1,824) (10,272)
Proceeds from sales of property, plant and equipment 11 319 46
Proceeds from sales of other long-term investments 2 298 716
Net cash used in investing activities   (5,467) (12,786)
 
Financing activities
Loan proceeds 29,547 42,628
Principal payments (36,736) (31,569)
Purchase of treasury shares 19 (240) (423)
Dividend (1,304) (1,166)
Net cash transfers (to)/from non-controlling interest 19 (15) (35)
Net cash used in financing activities   (8,747) 9,436
 
Foreign currency effects on cash flows   69 235
 
Net increase/(decrease) in cash and cash equivalents (2,221) 870
Cash and cash equivalents at 1 January 3,195 2,325
Cash and cash equivalents at 31 December 18 974 3,195
 
Bank deposits not available for the use of other group companies 18 154 347
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