ANNUAL REPORT 2011 - DONG Energy
ANNUAL REPORT 2011 - DONG Energy
ANNUAL REPORT 2011 - DONG Energy
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PaRent coMPany STATEMENT OF CASH FLOWS<br />
Year ended 31 December<br />
DKK million <strong>2011</strong> 2010<br />
Operating profit (loss) before depreciation, amortisation and<br />
impairment losses (EBITDA) (182) (58)<br />
Other adjustments 1,010 205<br />
Interest income and similar items 11,056 11,980<br />
Interest expense and similar items (11,215) (11,756)<br />
Income tax paid 15 715 317<br />
Cash flows from operating activities before change in<br />
net working capital (ffO) 1,384 688<br />
Change in trade receivables (4) (69)<br />
Change in other receivables 183 (76)<br />
Change in trade payables 77 (397)<br />
Change in other payables (198) 191<br />
Change in net working capital 58 (351)<br />
Cash flows from operating activities 1,442 337<br />
Disposal of enterprises 16 - 471<br />
Financial transactions with subsidiaries (7,033) (5,360)<br />
Financial transactions with jointly controlled entities (328) -<br />
Purchase of securities (8,124) (6,199)<br />
Sale of securities 6,160 2,426<br />
Other investments (105) (5)<br />
Dividends received 3,113 1,703<br />
Cash flows from investing activities (6,317) (6,964)<br />
Proceeds from raising of loans 8,985 10,522<br />
Instalments on loans (6,426) (3,856)<br />
Coupon payments on hybrid capital (515) (451)<br />
Repurchase of hybrid capital (3,802) -<br />
Proceeds from issuing of hybrid capital 5,127 -<br />
Dividends paid (2,203) (481)<br />
Receivables from Group business partner (1,713) -<br />
Cash flows from financing activities (547) 5,734<br />
net increase (decrease) in cash and cash equivalents (5,422) (893)<br />
Cash and cash equivalents at 1 January 1,506 2,399<br />
Net increase (decrease) in cash and cash equivalents (5,422) (893)<br />
Cash and cash equivalents at 31 December 17 (3,916) 1,506<br />
164 parEnt COmpany finanCial statEmEnts – <strong>DONG</strong> ENERGY <strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2011</strong>