Report and Accounts 1999 / 2000 - Carlsberg Group

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Cash Flow Statement of the Group 1999/00
Cash Flow Statement of the Group 1999/00
1999/00 1998/99
DKK million DKK million
Operating profit 2,934 1,673
Depreciation 2,153 1,354
Other adjustments 66 -169
Financial income, net -507 -96
Corporate tax paid -753 -20
Cash flow from operations before changes in working capital 3,893 2,742
Change in debtors -953 -503
Change in stocks -254 -125
Change in creditors, excise duties, etc. 538 -293
Cash flow, operations 3,224 1,821
Special items including adjustments in provisions -919 -1,091
Acquisition of tangible fixed assets -2,770 -2,024
20 Acquisition/disposal of companies, net -4,309 -496
Acquisition of other fixed asset investments, net 248 -399
Disposal of securities, net 736 1,427
Dividend received from associated companies 38 33
Cash flow, investments -6,057 -1,459
Dividend paid -256 -256
Minority interests -353 255
Financial income and expenditure 4,150 -1,408
Cash flow, financing 3,541 -1,409
Net cash flow from operations, investments and financing -211 -2,138
Cash and cash equivalents, beginning of year 1,793 3,890
Currency translation adjustments in cash and cash equivalents, beginning of year 96 41
Cash flow for the year -211 -2,138
Cash and cash equivalents, year-end 1,678 1,793
The statement of cash flow cannot be derived solely from the published annual accounts.