Kemira Oyj Cash Flow Statement (FAS)

(EUR)

Year ended 31 December
2012 2011
CASH FLOWS FROM OPERATING ACTIVITIES
Operating result 68,680,077.86 245,598,836.77
Adjustments to operating result
Depreciation, amortization and impairment 29,881,605.41 29,678,760.58
Income taxes -6,145,810.39 1,084,790.34
Finance expenses, net -86,898,894.14 -90,498,273.38
Other non-cash income and expenses not involving cash flow -53,336,095.50 -104,924,507.40
Operating profit before change in working capital -47,819,116.76 80,939,606.91
Change in working capital
Increase (–) / decrease (+) in inventories 16,924,532.63 -85,063,495.37
Increase (–) / decrease (+) in trade and other receivables 103,915,855.57 -367,137,627.65
Increase (+) / decrease (–) in trade payables and other liabilities 37,050,721.40 137,639,375.04
Change in working capital 157,891,109.60 -314,561,747.98
Cash generated from operations 110,071,992.84 -233,622,141.07
Interest and other finance cost paid -33,074,989.98 -45,088,292.78
Interest and other finance income received 18,093,852.07 16,699,277.94
Realized exchange gains and losses 8,931,950.42 -5,583,141.85
Dividends received 136,551,879.14 119,104,245.02
Income taxes paid -3,279.65 -767,096.93
Net cash generated from operating activities 240,571,404.84 -149,257,149.67
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisitions of subsidiaries -7,847,070.15 -13,600,228.28
Acquisitions of associated companies, and other shares -401,356.55 -102,859,784.15
Purchase of intangible assets -7,773,477.18 -108,260,647.48
Purchase of other plant, property and equipment -4,511,370.28 -8,743,175.40
Proceeds from sale of subsidiaries and other shares 26,832,000.00 112,026,980.29
Proceeds from sale of other plant, property and equipment and intangible assets 3,789.64 146,534.23
Change in loan receivables, net increase (–) / decrease (+) -28,371,943.60 -3,208,095.88
Net cash used in investing activities -22,069,428.12 -124,498,416.67
Cash flow before financing 218,501,976.72 -273,755,566.34
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from non-current interest-bearing liabilities (+) 70,185,247.34 0.00
Repayment from non-current interest-bearing liabilities (–) -25,407,302.63 -266,577,813.46
Short-term financing, net increase (+) / decrease (–) -240,482,574.61 546,370,282.26
Dividends paid -80,575,845.00 -72,983,608.32
Received group contribution 68,194,000.00 16,900,238.07
Net cash used in financing activities -208,086,474.90 223,709,098.55
Net increase (+) / decrease (–) in cash and cash equivalents 10,415,501.82 -50,046,467.79
Cash and cash equivalents at beginning of year 48,947,678.11 98,994,145.90
Cash and cash equivalents at end of year 59,363,179.93 48,947,678.11
Net increase (+) / decrease (–) in cash and cash equivalents 10,415,501.82 -50,046,467.79