Varma

Statement of source and application of funds
ParentParent
CompanyCompanyGroupGroup
1 Jan–31 Dec, € million2013201220132012
Cash flow from operations
Gain/loss on ordinary activities11.08.8-9.0-13.6
Adjustments
Changes in technical provisions1,632.5801.11,632.5801.1
Impairments and revaluations on investments309.1163.6254.1158.5
Depreciation according to plan27.328.2158.9119.2
Capital gain and loss-930.3-439.4-932.2-438.9
Cash flow before change in working capital1,049.6562.31,104.3626.3
Change in working capital:
Increase (-)/decrease (+) in non-interest-bearing short-term receivables224.7-259.6211.3-258.9
Increase (-)/decrease (+) in non-interest-bearing short-term debts-47.5175.6-48.0180.1
Cash flow from operations before taxes1,226.8478.31,267.6547.5
Direct taxes paid-5.8-4.4-5.8-4.4
Cash flow from operations1,221.0473.81,261.8543.0
Cash flow from investments
Net investments and proceeds from asset sales-1,319.8-366.4-1,374.2-435.7
Investments and gains on intangible, tangible and other assets1.60.61.60.6
Cash flow from investments-1,318.2-365.8-1,372.7-435.1
Cash flow from financing
Interest paid on guarantee capital and other profit distribution-0.6-0.7-0.6-0.7
Cash flow from financing-0.6-0.7-0.6-0.7
Change in financial resources-97.8107.3-111.5107.2
Financial resources, 1 Jan.717.9610.6717.9610.7
Financial resources, 31 Dec.620.1717.9606.5717.9