FINANCIAL PERFORMANCE
74
Consolidated statement of cash flows
(NOK THOUSAND) 2019 2018
Cash flow from operating activities
Operating profit 2 320 477 1 360 814
Adjustments to reconcile operating profit to net cash flows:
Share of profit from associates and joint ventures – 496 756 –383 747
Dividend paid from associates and joint ventures 556 374 557 991
Depreciation, amortisation and impairment 809 720 530 095
Change in accruals, provisions and other 35 500 142 083
Working capital adjustments:
Change in trade and other receivables –146 733 –314 576
Change in trade payables 83 542 117 428
Change in inventories 10 929 –264 927
Cash generated from operating activities 3 173 054 1 745 161
Interest received 33 434 23 413
Interest paid –236 206 –165 313
Other financial items –38 800 –103 836
Income tax payments –483 571 –481 784
Net cash flow from operating activities 2 447 910 1 017 641
Cash flows used for investing activities
Proceeds from sale of property, plant and equipment 13 128 32 912
Purchase of property, plant and equipment –1 175 937 –911 435
Purchase of intangible assets –288 057 –177 742
Share capital increase in non-controlling interests 19 971 13 400
Net cash flow used for investing activities –1 430 895 –1 042 865
Cash flows from financing activities
Proceeds from borrowings 1 980 234 1 394 688
Repayment of borrowings –1 491 354 –914 757
Payment of principal portion of lease liabilities –150 271 –
Dividend paid to equity holders of the parent company –427 500 –427 500
Dividend paid to non-controlling interests –57 737 –45 538
Net cash flow from financing activities –146 628 6 893
Net increase / decrease (–) in cash and cash equivalents 870 387 –18 331
Net currency translation effect 20 994 2 729
Cash and cash equivalents as of 1 January 1 011 564 1 027 165
Cash and cash equivalents as of 31 December 1 902 945 1 011 564