Cash-flow statements

May 1–April 30		Group			Parent Company
SEK 000s	Note	2006/07	2007/08	2008/09	2006/07	2007/08	2008/09

OPERATING ACTIVITIES

Profit before tax		221,108	132,739	– 45,143	224,067	133,242	– 40,510
Adjustment for non-cash flow items	26	27,634	36,621	34,291	26,217	41,909	44,580
		248,742	169,360	– 10,852	250,284	175,151	4,070
Tax paid		– 56,348	– 60,674	– 31,953	– 55,584	– 61,662	– 32,722
Cash flow from operating activities before changes in working capital		192,394	108,686	– 42,805	194,700	113,489	– 28,652

Changes in working capital
Inventories		– 3,729	– 71,283	37,994	11,421	– 49,414	26,318
Operating receivables		2,669	– 7,584	– 10,919	– 40,593	– 45,470	– 12,637
Non-interest-bearing liabilities		8,175	– 5,579	39,745	– 1,845	– 5,451	39,843
Cash flow from operating activities	28	199,509	24,240	24,015	163,683	13,154	24,872

Investing activities
Acquisition of subsidiary/operation	29	– 186,304	– 1,670	– 8,213	– 29,163	– 2,736	– 8,213
Acquisition of intangible fixed assets		– 9,364	– 9,751	– 9,995	– 51,700	–10,113	– 9,995
Divestment of intangible fixed assets		—	—	—	—	—	—
Acquisition of tangible fixed assets		– 47,246	– 57,187	– 35,496	– 24,544	– 37,045	– 22,428
Divestment of tangible fixed assets		226	2,000	—	221	2,000	—
Acquisition of financial fixed assets		– 85	—	—	– 125,083	—	– 3,761
Divestment of financial fixed assets		—	216	797	—	649	—
Cash flow from investing activities		– 242,773	– 66,392	– 52,907	– 230,269	– 47,245	– 44,397
Cash flow after investing activities		– 43,264	– 42,152	– 28,892	– 66,586	–34,091	– 19,525

Financing activities
New share issue		—	25,796	—	—	25,796	—
Loans raised		52,430	172,471	231,767	58,795	172,471	218,494
Amortized loans		—	– 39,768	– 132,378	—	– 32,500	– 127,500
Dividends paid to Parent Company’s shareholder		– 65,841	– 142,286	– 77,744	– 65,841	– 142,286	– 77,744
Cash flow from financing activities		– 13,411	16,213	21,645	– 7,046	23,481	13,250

Cash flow for the year		– 56,675	– 25,939	– 7,247	– 73,632	– 10,610	– 6,275
Cash and cash equivalents at the beginning of the year		113,610	56,681	31,490	103,776	30,144	19,534
Exchange-rate difference in cash and cash equivalents		– 254	748	1,127	—	—	190
Cash and cash equivalents at the end of the year		56,681	31,490	25,370	30,144	19,534	13,449

Unutilized lines of credits
Granted, but unutilized lines of credit		27,751	71,801	2,905	21,205	58,734	1,841

Change in net loan debt
Net loan debt at beginning of the year		– 95,209	15,991	174,005	– 103,776	28,651	179,232
Change in interest-bearing liabilities		54,271	132,823	100,315	58,795	139,971	93,514
Change in cash and cash equivalents		56,929	25,191	6,120	73,632	10,610	6,085
Net loan debt at the end of the year		15,991	174,005	280,440	28,651	179,232	278,831