Financial Statements - Kuusakoski

ConsolidatedIncome StatementConsolidated Balance SheetConsolidated Statement ofChanges in Financial PositionEUR million 2012 2011REVENUES 1) 842.2 977.8Production for own use 13.9 11.9Other operating income 2) 3.2 4.0Materials and services 3) 637.9 739.1Personnel expences 4) 91.0 88.6Depreciation and writedowns 5) 33.0 30.7Other operating expenses 78.3 79.2840.2 937.5OPERATING PROFIT 19.1 56.1Financial income and expenses 7) -9.5 -9.2Extraordinary income 0.0 0.0PROFIT BEFORE TAXES 9.6 46.9Income taxes 8) -3.7 -14.2Minority interest -1.8 -2.6NET PROFIT FORTHE FINANCIAL YEAR 4.2 30.0EUR million 2012 2011ASSETSNon-current assets 9)Intangible assets 4.7 5.1Goodwill 11.6 13.3Tangible assets 181.3 162.7Investments 3.0 5.1200.6 186.2Current assetsInventories 10) 97.4 104.8Current receivables 11) 117.6 114.1Financial assets 0.0 3.5Cash and cash equivalents 7.9 20.6223.0 243.0Total 423.6 429.3SHAREHOLDERS´ EQUITY AND LIABILITIESEquity and reserves 12)Share capital 0.1 0.1Share premium fund 0.2 0.2Retained earnings 224.2 202.9Net profit for the financial year 4.2 30.0228.7 233.3Minority interest 6.2 7.6Obligatory provisions 13) 9.7 9.6Liabilities 14)Non-current liabilities 21.5 24.8Current liabilities 157.4 153.9179.0 178.8Total 423.6 429.3EUR million 2012 2011Cash flow from operationsProfit before extraordinary items 9.6 46.9Adjustments:Depreciation according to plan 33.0 30.7Unrealised exchange rate profits and losses 3.0 1.5Other non-cash items -0.4 -0.8Financial income and expenses 6.5 7.7Cash flow before change in working capital 51.8 86.0Change in working capital:Increase (-), decrease (+) in current trade receivables 3.4 20.5Increase (-), decrease (+) in loans receivable -1.2 0.0Increase (-), decrease (+) in inventories 7.6 -8.1Increase (+), decrease (-) in current liabilities -13.0 1.5Cash flow from operations before financial items and taxes 48.6 99.9Interest paid and other financial expenses -8.1 -7.2Interest received 0.8 0.4Taxes -9.0 -15.5Cash flow from operations 32.2 77.6Cash flow from investmentsInvestments in tangible and intangible assets -30.8 -35.9Gains from disposal of tangible and intangible assets 0.6 0.4Subsidiaries acquired -4.5 -0.2Associated companies acquired -0.4 -3.4Increase (+), decrease (-) in other investments -0.1 0.2Cash flow from investments -35.1 -39.0Cash flow from financingIncrease (+), decrease (-) in current liabilities -15.7 -10.9Increase (+), decrease (-) in non-current liabilities 14.6 -3.7Dividend distribution -12.2 -10.5Cash flow from financing 13.3 -25.1Change in cash and cash equivalents -16.2 13.5Cash and cash equivalents 1 Jan 24.1 10.6Cash and cash equivalents 31 Dec 7.9 24.120 REPORT KEY FIGURES OF THE 2012 BOARD OF DIRECTORS • KEY FIGURES 2012