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Parent Company Cash Flow Statement (FAS)
1.1.-31.12.2011 1.1.-31.12.2010
       
Cash flow from operations    
Profit/loss before extraordinary items 5,004,223 8,352,816
Finance income and costs -9,942,387 -1,104,164
Adjustments to operating profit/loss 588,073 -15,221,869
Change in net working capital    
  Change in current non-interest-bearing receivables 933,524 -650,873
  Change in current trade payables and other non-interest-bearing liabilities -5,551,986 4,125,960
Interest paid -4,790,962 -4,781,961
Interest received 727,346 996,096
Dividends received 12,535,397 5,639,752
Taxes paid -1,480,765 -243,026
       
Cash flow from operations -1,977,537 -2,887,269
       
Cash flow from investments    
Investments in tangible and    
Intangible assets -124,886 -69,709
Investments in other placements -2,801,781 -4,390,276
Long-term loan receivables granted -4,367,587 -2,775,555
Repayment of long-term loans 8,681,441 3,618,883
Proceed from sale of associated company 0 21,000,000
       
Cash flow from investments 1,387,187 17,383,343
       
Cash flow from financing activities    
Short-term loan receivables granted -3,997,101 -2,464,500
Repayment of short-term loans 1,015,000 3,153,707
Long-term loan receivables granted 0 -670,000
Repayment of loans from financial institutions -6,250,000 -6,250,000
Dividends paid -10,113,812 -3,370,219
Other financial assets at fair value -415 -302
Group contributions received 2,700,000 5,200,000
       
Cash flow from financing activities -16,646,328 -4,401,314
       
Change in cash and cash equivalents -17,236,678 10,094,760
Cash and cash equivalents at start of year 21,767,487 11,672,727
Cash and cash equivalents at end of year 4,530,809 21,767,487