Consolidated cash flow statement

 

TEUR Note 2015 2014
Operating activities
Profit before tax 26 696 15 938
Non-cash items 40 28 139 16 802
Income tax paid -8 903 -2 177
Cash flows from operating activities before changes in working capital 45 932 30 563
Working capital adjustments 40 21 090 2 384
Net cash flows from operating activities 67 022 32 947
Investing activities
Investments in operations/subsidiaries -70 677 0
Purchase of property, plant and equipment -10 585 -10 034
Purchase of intangible assets -946 -363
Proceeds from sale of property, plant and equipment 217 25
Net cash flows from investing activities -81 991 -10 372
Financing activities
Paid in capital for issued warrants 370 0
Proceeds from borrowings 50 000 0
Repayment of borrowings -9 912 -11 036
Net cash flows from financing activities 40 458 -11 036
Net cash flow for the period 25 489 11 539
Cash and cash equivalents at 1 January 30 37 899 26 854
Net foreign exchange differences -257 -494
Cash and cash equivalents at 31 December 30 63 131 37 899

Cash flow from interest received amounts to 61 TEUR (34) and from interest paid -7 529 TEUR (-6 680).