| Note |
|
2007 |
2006 |
|
| |
|
DKK million |
DKK million |
|
|
|
|
|
|
|
Net profit |
1,042 |
911 |
|
|
|
|
|
|
| 31 |
Reversal of
non-cash expenses |
1,028 |
996 |
|
|
Corporation tax paid |
(186) |
(120) |
|
|
Interest received |
98 |
133 |
|
|
Interest paid |
(159) |
(147) |
|
|
Cash
flow before change in working capital |
1,823 |
1,773 |
|
|
|
|
|
|
|
Change in working
capital: |
|
|
|
|
(Increase)/decrease
in receivables |
(113) |
(80) |
|
|
(Increase)/decrease
in inventories |
39 |
(48) |
|
|
Increase/(decrease)
in trade payables and other liabilities |
(35) |
(111) |
|
|
Cash flow
from operating activities |
1,714 |
1,534 |
|
|
|
|
|
|
|
Investments: |
|
|
|
| 10 |
Purchase of
intangible assets |
(14) |
(13) |
|
|
Sale of
property, plant and equipment |
8 |
29 |
|
| 11 |
Purchase
of property, plant and equipment |
(729) |
(492) |
|
| 34 |
Acquisition of
companies |
(716) |
(477) |
|
|
Purchase of
minority interests |
(16) |
- |
|
|
Cash flow
from investing activities |
(1,467) |
(953) |
|
|
|
|
|
|
|
Free cash flow |
247 |
581 |
|
|
|
|
|
|
|
Financing: |
|
|
|
|
Non-current borrowings |
- |
385 |
|
| 13 |
Sale of
shares in Novo Nordisk A/S |
35 |
15 |
|
| 18 |
Purchase of
treasury shares, net |
(388) |
(996) |
|
|
Dividend paid |
(278) |
(255) |
|
|
Cash flow
from financing activities |
(631) |
(851) |
|
|
|
|
|
|
|
Net cash flow |
(384) |
(270) |
|
|
|
|
|
|
|
Unrealized
gain/(loss) on currencies and financial assets included in cash and cash
equivalents |
(6) |
(26) |
|
|
Net
change in cash and cash equivalents |
(390) |
(296) |
|
|
|
|
|
|
|
Cash and
cash equivalents at January 1 |
71 |
367 |
|
| 32 |
Cash
and cash equivalents at December 31 |
(319) |
71 |
|
|
|
|
|
|
|
Drawn
uncommitted credit facillities |
319 |
- |
|
| 33 |
Undrawn
committed credit facilities |
3,000 |
3,000 |
|
|
Financial
resources at December 31 |
(3,000) |
3,071 |
|
|
|
|
|
|
