Cash-flow statements

May 1–April 30		Group			Parent Company
SEK 000s	Note	2007/08	2008/09	2009*	2007/08	2008/09	2009*

OPERATING ACTIVITIES

Profit before tax		132,739	– 45,143	– 151,585	133,242	– 40,510	– 182,361
Adjustment for non-cash flow items	26	36,621	34,291	83,882	41,909	44,580	55,514
		169,360	– 10,852	– 67,703	175,151	4,070	– 126,847
Tax paid		– 60,674	– 31,953	7,369	–61,662	– 32,722	7,390
Cash flow from operating activities before changes in working capital		108,686	– 42,805	– 60,334	113,489	– 28,652	– 119,457

Changes in working capital
Inventories		– 71,283	37,994	89,695	–49,414	26,318	55,729
Operating receivables		– 7,584	– 10,919	7,398	–45,470	– 12,637	45,362
Non-interest-bearing liabilities		– 5,579	39,745	10,079	–5,451	39,843	– 704
Cash flow from operating activities	28	24,240	24,015	46,838	13,154	24,872	– 19,070

Investing activities
Acquisition of subsidiary/operation	29	– 1,670	– 8,213	—	–2,736	– 8,213	—
Acquisition of intangible fixed assets		– 9,751	– 9,995	– 3,964	–10,113	– 9,995	– 3,964
Divestment of intangible fixed assets		—	—	600	—	—	600
Acquisition of tangible fixed assets		– 57,187	– 35,496	– 8,663	–37,045	– 22,428	– 7,274
Divestment of tangible fixed assets		2,000	—	3,258	2,000	—	741
Acquisition of financial fixed assets		—	—	– 224	—	– 3,761	—
Divestment of financial fixed assets		216	797	—	649	—	23,236
Cash flow from investing activities		– 66,392	– 52,907	– 8,993	– 47,245	– 44,397	13,339
Cash flow after investing activities		– 42,152	– 28,892	37,845	–34,091	– 19,525	– 5,731

Financing activities
New share issue		25,796	—	159,993	25,796	—	159,993
Loans raised		172,471	231,767	50,000	172,471	218,494	50,000
Amortized loans		– 39,768	– 132,378	– 186,572	– 32,500	– 127,500	– 173,854
Dividends paid to Parent Company’s shareholder		– 142,286	– 77,744	—	–142,286	– 77,744	—
Cash flow from financing activities		16,213	21,645	23,421	23,481	13,250	36,139

Cash flow for the year		– 25,939	– 7,247	61,266	–10,610	– 6,275	30,408
Cash and cash equivalents at the beginning of the year		56,681	31,490	25,370	30,144	19,534	13,449
Exchange-rate difference in cash and cash equivalents		748	1,127	– 898	—	190	– 65
Cash and cash equivalents at the end of the year		31,490	25,370	85,738	19,534	13,449	43,792

Unutilized lines of credits
Granted, but unutilized lines of credit		71,801	2,905	151,104	58,734	1,841	134,966

Change in net loan debt
Net loan debt at beginning of the year		15,991	174,005	280,440	28,651	179,232	276,311
Change in interest-bearing liabilities		132,823	100,315	– 136,732	139,971	93,514	– 123,854
Change in cash and cash equivalents		25,191	6,120	– 60,368	10,610	6,085	– 30,343
Net loan debt at the end of the year		174,005	280,440	83,340	179,232	278,831	122,114

* Pertains to the abbreviated May to December 31, 2009 fiscal year.