JOTUN GROUP
17
Consolidated statement of cash flows
(NOK THOUSAND) Note 2018 2017
Cash flow from operating activities
Operating profit 1 360 814 1 354 264
Adjustments to reconcile operating profit to net cash flows:
Share of profit from associated companies and joint ventures 3 –383 747 –536 797
Dividend paid from associated companies and joint ventures 3 557 991 699 553
Depreciation, amortisation and impairment 8,9 530 095 488 802
Change in accruals, provisions and other 142 083 182 267
Working capital adjustments:
Change in trade and other receivables –314 576 –300 062
Change in trade payables 117 428 220 098
Change in inventories –264 927 –534 331
Cash generated from operating activities 1 745 161 1 573 793
Net financial items 6 –245 736 –118 085
Tax payments –481 784 –358 536
Net cash flow from operating activities 1 017 641 1 097 172
Cash flow from investing activities
Proceeds from sale of property, plant and equipment 9 32 912 2 616
Purchase of property, plant and equipment 9 –911 435 –839 011
Purchase of intangible assets 8 –177 742 –128 245
Net cash flow used in investing activities –1 056 265 –964 640
Cash flow from financing activities
Proceeds from borrowings 16 1 394 688 491 512
Repayment of borrowings 16 –914 757 –571 503
Dividend paid to equity holders of the parent 18 –427 500 –513 000
Dividend paid to non-controlling interests –45 538 –44 153
Share capital increase in associated companies and joint ventures – –49 284
Share capital increase in non-controlling interests 2 13 400 –
Net cash flow from financing activities 20 293 –686 428
Net increase / decrease (–) in cash and cash equivalents –18 331 –553 896
Net currency translation effect 2 729 –4 973
Cash and cash equivalents as of 1 January 15 1 027 165 1 586 034
Cash and cash equivalents as of 31 December 15 1 011 563 1 027 165