CONSOLIDATED STATEMENT OF CASH FLOWS (EUR 1 000)
Statement of cash flows for financial years 1.1. – 31.12.2010, 1.1. – 31.12.2009 and 1.1. – 31.12.2008
(See Annual Report for more details)
|
2010 |
2009 |
2008 |
| Cash flows from operations |
|
| Profit/loss for financial period |
-14,653 |
-10,790 |
-9,929 |
| Adjustments: |
|
| Depreciation |
10,043 |
5,131 |
8,622 |
| Financial income and expenses |
2,247 |
3,135 |
4,116 |
| Gain (+) and loss (-) on sale of fixed assets |
7 |
-542 |
-690 |
| Other adjustments |
77 |
-86 |
173 |
| Change in working capital: |
|
| Change in long-term receivables |
472 |
772 |
2,732 |
| Change in inventories |
834 |
8,476 |
2,799 |
| Change in short-term liabilities |
501 |
1,002 |
-2,026 |
| Interests paid |
-1,018 |
-2,191 |
-3,104 |
| Interest income received |
13 |
22 |
58 |
| Other financial expenses paid |
-782 |
-706 |
-347 |
| Net cash flow from operations |
-2,459 |
3,764 |
1,937 |
| |
|
| Cash flows from investment activities |
|
| Acquisition of subsidiary companies (net of cash acquired) |
0 |
0 |
-736 |
| Investments in tangible and intangible assets |
-665 |
-1,251 |
-4,505 |
| Proceeds from sale of tangible and intangible assets |
2 |
520 |
985 |
| Repayments on loan receivables |
-202 |
-52 |
65 |
| Income on sale of investments |
1 |
1 |
0 |
| Net cash flow from investments |
-864 |
-782 |
-4,191 |
| |
|
| Cash flows from financing activities |
|
| Share issue |
0 |
6,089 |
3,100 |
| Long-term loans, increase |
0 |
8,480 |
0 |
| Long-term loans, decrease |
0 |
-1,000 |
-2,000 |
| Short-term loans, net change |
2,133 |
-15,342 |
2,325 |
| Leasing liabilities, decrease |
-241 |
-421 |
0 |
| Dividends paid |
0 |
0 |
-1,648 |
| Net cash flow from financing |
1,892 |
-2,193 |
1,777 |
| |
|
| Change in financial resources |
-1,431 |
789 |
-477 |
| Liquid assets, 1 January |
3,024 |
2,188 |
2,852 |
| Effect of exchange rate on liquid assets |
34 |
48 |
-187 |
| Liquid assets, 31 December |
1,626 |
3,024 |
2,188 |