(NOK 1 000)
|
|
|
|
|
CASH FLOW FROM OPERATING ACTIVITIES |
Note |
2008 |
2007 |
2006 |
| Net result before taxes |
|
280 724 |
1 119 486 |
882 026 |
| Capital (gain) loss on non-current assets/financial investments |
|
28 |
- |
( 276) |
| Depreciation |
|
12 407 |
11 377 |
19 043 |
| Changes in the value of financial fixed assets |
|
600 |
( 46 345) |
- |
| Inventory (increase) decrease |
|
6 507 |
405 |
( 795) |
| Trade creditors increase (decrease) |
|
(52 286) |
11 366 |
( 5 127) |
| Difference in pension cost and pension premium paid |
|
(99 735) |
4 518 |
11 657 |
| Exchange rate fluctuations |
|
820 597 |
( 406 677) |
( 183 215) |
| Dividends classified as investing activities |
|
(653 117) |
( 828 169) |
( 144 786) |
| Other short-term accruals |
|
726 661 |
348 539 |
( 75 276) |
| Net cash flow from operating activities |
|
1 042 386 |
214 499 |
503 251 |
|
|
|
|
|
CASH FLOW FROM INVESTING ACTIVITIES |
|
|
|
|
| Sale of fixed assets |
|
354 754 |
505 007 |
1 028 225 |
| Investment in fixed assets |
|
(49 128) |
(418 062) |
( 792 779) |
| Investment in subsidiaries and other shares |
|
(1 492 507) |
( 603 458) |
( 21 350) |
| Share capital repaid from subsidiaries |
|
128 112 |
- |
- |
| Received dividend |
|
653 117 |
828 169 |
144 786 |
| Available-for-sale investments |
|
(311 764) |
( 182 622) |
43 054 |
| Sale of shares in subsidiaries/joint ventures |
|
- |
1 158 259 |
- |
| Changes in long-term receivables |
|
(102) |
(256) |
( 1 233) |
| Loans to subsidiaries |
|
(823 868) |
350 522 |
( 390 216) |
| Net cash flow from investing activities |
|
(1 643 559) |
936 515 |
10 486 |
|
|
|
|
|
CASH FLOW FROM FINANCING ACTIVITIES |
|
|
|
|
| New long-term debt |
|
719 403 |
1 577 405 |
1 480 559 |
| Payment of long-term debt |
|
(467 229) |
(2 245 014) |
(1 038 379) |
| Share repurchases |
|
344 464 |
( 13 969) |
( 343 419) |
| Dividend |
|
(173 538) |
( 260 306) |
( 467 208) |
| Net cash flow from financing activities |
|
423 101 |
( 941 884) |
( 368 446) |
|
|
|
|
|
| Effect on cash balances from currency exchange rate fluctuations |
|
266 870 |
( 58 071) |
22 444 |
|
|
|
|
|
| Net change in cash balances |
|
88 798 |
151 060 |
167 734 |
| Cash balances as per 1.1 |
|
362 489 |
211 429 |
43 695 |
| Cash balances as per 31.12 |
|
451 287 |
362 489 |
211 429 |
|
|
|
|
|
| Available credit facilities |
|
- |
345 869 |
94 034 |
