Varma - Annual Report 2012

Statement of source and application of funds
Parent
Company
Parent
Company
GroupGroup
1 Jan–31 Dec, € million2012201120122011
Cash flow from operations
Gain/loss on ordinary activities8.810.2-13.66.4
Adjustments
Changes in technical provisions801.1-123.2801.1-123.2
Impairments and revaluations on investments163.6751.4158.5741.4
Depreciation according to plan28.223.1119.2111.8
Capital gain and loss-439.4358.6-438.9350.1
Cash flow before change in working capital562.31,020.0626.31,086.5
Change in working capital:
Increase (-) / decrease (+) in non-interest-bearing short-term receivables-259.6132.5-258.9147.1
Increase (-) / decrease (+) in non-interest-bearing short-term debts175.6-414.5180.1-411.5
Cash flow from operations before taxes478.3738.1547.5822.1
Direct taxes paid-4.4-5.2-4.4-5.2
Cash flow from operations473.8732.9543.0816.9
Cash flow from investments
Net investments and proceeds from asset sales-366.4-421.9-435.7-505.9
Investments and gains on intangible, tangible and other assets0.6-6.50.6-6.5
Cash flow from investments-365.8-428.4-435.1-512.4
Cash flow from financing
Interest paid on guarantee capital and other profit distribution-0.7-0.7-0.7-0.7
Cash flow from financing-0.7-0.7-0.7-0.7
Change in financial resources107.3303.8107.2303.8
Financial resources, 1 Jan.610.6306.8610.7306.9
Financial resources, 31 Dec.717.9610.6717.9610.7