Cash flow Solvang ASA ­ Group

Amounts in NOK 1 000 Note 2011 2010
CASH FLOW FROM OPERATING ACTIVITIES      
Profit / (loss) before tax   14 179 -675
Tax paid for the period   -1 862 2 938
Depreciation and amortisation 14 523 628
Difference between expensed pension and paid in/out   -4 394 627
Result in affiliated ship owning companies 2,3,4 -40 099 18 009
Result in affiliated companies 5 1 -311
Changes in other current balance sheet items   16 902 14 512
Financial income 6 -10 303 -23 474
Financial expenses 7 36 482 5 137
Net cash flow from operating activities   11 429 17 391
       
CASH FLOW FROM INVESTING ACTIVITIES      
Proceeds from sale / purchase of tangible fixed assets   291 73
Payments purchase of securities   15 198 -17 435
Payments received securities   0 13 673
Dividend received 6 4 671 3 093
Investment affiliated companies 5 -817 0
Payments from ship owning companies 4 16 817 5 273
Payments to ship owning companies 4 -4 227 -15 670
Net cash flow from investing activities   31 932 -10 994
       
CASH FLOW FROM FINANCING ACTIVITIES      
Changes in overdraft facility   -9 852 -7 094
Purchase / sale of treasury shares 18 824 802
Net cash flow from financing activities   -9 028 -6 292
       
Effect of exchange rate changes on cash and cash equivalents   1 799 -690
       
Net change in cash and cash equivalents   36 132 -584
       
Cash and cash equivalents 01.01   7 494 8 078
       
Cash and cash equivalents 31.12   43 626 7 494