Novo-Nordisk-AR-2012-en

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58 CONSOLIDATED FINANCIAL STATEMENTS Statement of cash fl ows for the year ended 31 December DKK million Note 2012 2011 2010 Net profi t for the year 21,432 17,097 14,403 Adjustment for non-cash items 5.3 11,253 9,117 8,449 Change in working capital 4.6 274 434 297 Interest received 207 332 218 Interest paid (61) (215) (252) Income taxes paid 2.4 (10,891) (5,391) (3,436) Net cash generated from operating activities 22,214 21,374 19,679 Proceeds from the divestment of ZymoGenetics, Inc. – – 1,155 Purchase of intangible assets and other fi nancial assets (250) (259) (513) Proceeds from sale of property, plant and equipment 53 70 68 Purchase of property, plant and equipment 3.2 (3,372) (3,073) (3,376) Net purchase of marketable securities (501) (197) (2,913) Net cash used in investing activities (4,070) (3,459) (5,579) Repayment of loans 4.2 (502) (507) – Purchase of treasury shares, net 4.1 (11,896) (10,595) (8,820) Dividends paid 4.1 (7,742) (5,700) (4,400) Net cash used in fi nancing activities (20,140) (16,802) (13,220) Net cash generated from activities (1,996) 1,113 880 Cash and cash equivalents at the beginning of the year 4.5 13,057 11,960 11,034 Exchange gains/(losses) on cash and cash equivalents (8) (16) 46 Cash and cash equivalents at the end of the year 4.5 11,053 13,057 11,960 Additional information: 1 Cash and cash equivalents at the end of the year 4.5 11,053 13,057 11,960 Marketable securities at the end of the year 4.7 4,552 4,094 3,926 Undrawn committed credit facilities 2 4,849 4,832 4,473 Financial resources at the end of the year 20,454 21,983 20,359 Net cash generated from operating activities 22,214 21,374 19,679 Net cash used in investing activities (4,070) (3,459) (5,579) Net purchase of marketable securities 501 197 2,913 Free cash fl ow 18,645 18,112 17,013 1. Additional non-IFRS measures. Please refer to p 93 for defi nitions. 2. The undrawn committed credit facility is a EUR 650 million (EUR 650 million in 2011 and EUR 600 million in 2010) facility committed by a portfolio of international banks. The facility matures in 2016. NOVO NORDISK ANNUAL REPORT 2012
Statement of changes in equity at 31 December CONSOLIDATED FINANCIAL STATEMENTS 59 Other reserves Exchange rate Cash Tax and Total Share Treasury Retained adjust- fl ow other other DKK million capital shares earnings ment hedges items reserves Total 2012 Balance at the beginning of the year 580 (24) 37,111 398 (1,184) 567 (219) 37,448 Net profi t for the year 21,432 21,432 Other comprehensive income for the year 1 (281) (172) 2,031 (552) 1,307 1,026 Total comprehensive income for the year 21,151 (172) 2,031 (552) 1,307 22,458 Transactions with owners: Dividends (note 4.1) (7,742) (7,742) Share-based payments (note 5.1) 308 308 Tax credit related to share option scheme 56 56 Purchase of treasury shares (note 4.1) (15) (12,147) (12,162) Sale of treasury shares (note 4.1) 2 264 266 Reduction of the B share capital (note 4.1) (20) 20 – Balance at the end of the year 560 (17) 39,001 226 847 15 1,088 40,632 Other reserves Exchange rate Cash Tax and Total Share Treasury Retained adjust- fl ow other other DKK million capital shares earnings ment hedges items reserves Total 2011 Balance at the beginning of the year 600 (28) 36,097 571 (672) 397 296 36,965 Net profi t for the year 17,097 17,097 Other comprehensive income for the year 1 (173) (512) 170 (515) (515) Total comprehensive income for the year 17,097 (173) (512) 170 (515) 16,582 Transactions with owners: Dividends (note 4.1) (5,700) (5,700) Share-based payments (note 5.1) 319 319 Purchase of treasury shares (note 4.1) (18) (10,821) (10,839) Sale of treasury shares (note 4.1) 2 242 244 Tax on sale of treasury shares (123) (123) Reduction of the B share capital (note 4.1) (20) 20 – Balance at the end of the year 580 (24) 37,111 398 (1,184) 567 (219) 37,448 1. Please refer to Statement of comprehensive income p 56. NOVO NORDISK ANNUAL REPORT 2012
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novo nordisk annual report 2012 Str
Page 3 and 4:
Chairman of the Board of Directors
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From a regional perspective, North
Page 7 and 8:
ACCOMPLISHMENTS ACCOMPLISHMENTS AND
Page 9 and 10: Operations increased by 19% in Dani
Page 11 and 12: Outlook 2013 The current expectatio
Page 13 and 14: Research and development progress D
Page 15 and 16: values-based management system and
Page 17 and 18: Strategy is all about choice Novo N
Page 19 and 20: • Levemir ® is a soluble, long-a
Page 21 and 22: performance on three dimensions: fi
Page 23 and 24: How is diabetes treated? For type 1
Page 25 and 26: The protein powerhouse Novo Nordisk
Page 27 and 28: Reducing the risk of hypoglycaemia
Page 29 and 30: Many people ask why insulin and GLP
Page 31 and 32: Prevent bleedings When we talk abou
Page 33 and 34: Phase 1 Studies in a small group (u
Page 35 and 36: we were there for them when the goi
Page 37 and 38: worrying thing is that if nobody wa
Page 39 and 40: Sales in Region China 10 8 6 4 2 0
Page 41 and 42: Novo Nordisk’s largest production
Page 43 and 44: In the current economic landscape,
Page 45 and 46: Risk overview Listed below are the
Page 47 and 48: Meeting, the Board of Directors wil
Page 49 and 50: attached to A shares include pre-em
Page 51 and 52: Remuneration Novo Nordisk aims to a
Page 53 and 54: In addition, executives may partici
Page 55 and 56: of the Scientific Advisory Board of
Page 57 and 58: Consolidated financial, social and
Page 59: Balance sheet at 31 December CONSOL
Page 63 and 64: Section 1 Basis of preparation of t
Page 65 and 66: Section 2 Results for the year CONS
Page 67 and 68: 2.2 Segment information (continued)
Page 69 and 70: 2.3 Employee costs Accounting polic
Page 71 and 72: Section 3 Operating assets and liab
Page 73 and 74: 3.2 Property, plant and equipment (
Page 75 and 76: 3.6 Provisions (continued) 3.7 Reti
Page 77 and 78: Section 4 Capital structure and fi
Page 79 and 80: 4.3 Financial risk (continued) Key
Page 81 and 82: 4.4 Derivative fi nancial instrumen
Page 83 and 84: 4.5 Cash and cash equivalents Accou
Page 85 and 86: 4.7 Financial assets and liabilitie
Page 87 and 88: Section 5 Other disclosures CONSOLI
Page 89 and 90: 5.1 Share-based payment schemes (co
Page 91 and 92: 5.4 Commitments and contingencies C
Page 93 and 94: 5.5 Related party transactions Novo
Page 95 and 96: 5.9 Financial defi nitions ADRs An
Page 97 and 98: Supplementary information CONSOLIDA
Page 107 and 108: Balance sheet at 31 December FINANC
Page 109 and 110: 7 Intangible assets FINANCIAL STATE
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Management statement CONSOLIDATED F
Page 113 and 114:
Independent Assurance Report on the
Page 115 and 116:
Product overview ADDITIONAL INFORMA
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