Consolidated statement of cash flows

  1 January–31 December
  2013
MSEK
2014
MSEK
Operating activities    
Net income 1,910 2,391
     
Adjustment for non-cash items 4,030 4,547
Cash flow from operating activities before changes in working capital 5,940 6,938
     
Changes in working capital (923) 2,660
Cash flow from operating activities 5,017 9,598
     
Investing activities    
Investments in intangible assets (147) (156)
Proceeds from sale of tangible fixed assets 534 734
Investments in tangible fixed assets (7,022) (5,696)
Acquisition of subsidiary, net of acquired cash (13) (27)
Proceeds from sale of securities 7,505 5,375
Investments in securities (5,084) (8,059)
Increase in other non-current assets (392) (658)
Decrease in other non-current assets 12 168
Other investments 24 6
Cash flow from investing activities (4,583) (8,313)
     
Financing activities    
Proceeds from issuance of debt 3,676 15,668
Principal payments on debt (4,946) (8,535)
Net change in borrowings on line-of-credit agreements 1,228 (6,621)
Principal payments on capitalised lease obligations (238) (249)
Net change in restricted cash accounts 484 510
Dividends paid (189) (220)
Other financing activities (34) (518)
Cash flow from financing activities (19) 35
     
Effect of exchange rate differences on cash and cash equivalents 57 133
Net change in cash and cash equivalents 472 1,453
     
Cash and cash equivalents at beginning of year 1,581 2,053
Cash and cash equivalents at end of year 2,053 3,506