Annual report 2012 - Comrod

Annual report 2012 65/92Strategies and values | Group | Parent company | Corporate governance | ContactFinancial statement Notes Auditors reportCash Flow Statement, Parent company(NOK) 2012 2011Operating activitiesProfit before tax -34 452 071 -10 801 196Non-cash elements:Depreciation and Impairment of shares in subsidiaries 23 870 362 19 436 000Differences between expensed and paid pension cost 0 -160 713Working capital adjustmentsChanges in trade and other receivables 3 524 577 -26 797 809Changes in trade and other payables 397 096 -393 726Income tax paid 0 -334 504Net cash flow from operating activities -6 660 036 -19 051 948Investing activitiesPurchase of own shares 0 -15 625 000Purchase of subsidiaries -1 722 668 -11 691 668Net cash flow from investing activities -1 722 668 -27 316 668Financing activitiesNew non-current liabilities 0 17 000 000Repayment of non-current liabilities -3 602 125 -8 897 807Net change in bank overdraft 414 169 26 735 409Net change in lending to subsidiaries 3 553 792 0New paid in capital /dividend paid 7 877 000 0Net cash flow from financing activities 8 242 835 34 837 602Net change in cash & cash equivalents -139 868 -11 531 014Cash & cash equivalents at beginning of period 450 134 11 981 147Cash & cash equivalents at end of period 310 265 450 13465