1. Annual report 2015
  2. Board of Directors' report
  3. Consolidated Cash Flow Statement
  • Supervisory Board
  • Risk management
  • Insider administration
  • Audit
  • Internal audit
  • Remuneration
  • VR City Traffic
  • Properties
  • Conductor
  • For the investor
    • CONSOLIDATED CASH FLOW STATEMENT (1 000 €) 1.1.-31.12.2015 1.1.-31.12.2014
    Cash flow from operating activities
    Operating profit 65,366 90,378
    Adjustments to operating profit 1) 92,014 97,641
    Changes in net working capital -21,759 12,588
    Interest received 1,912 2,929
    Interest paid and payments for other financial expenses -5,836 -5,116
    Dividends received 152 320
    Income taxes paid -6,757 -2,726
    Net cash from operating activities 125,092 196,013
    Cash flow from investing activities
    Capital expenditure on fixed assets -91,022 -125,884
    Disposal of fixed assets 22,082 30,620
    Change in holdings in associated companies 2) 6,544 0
    Subsidiaries sold 3) -4,842 0
    Change in other long-term investments 15,315 -4,294
    Change in long-term receivables 71 256
    Net cash from investing activities -51,853 -99,302
    Cash flow before financing activities 73,239 96,711
    Cash flow from financing activities
    Change in long-term liabilities 385 -303
    Change in short-term liabilities 20 -88
    Dividends paid -100,003 -30,000
    Dividends paid to minority interests -413 -626
    Net cash from financing activities -100,012 -31,018
    Change in cash and cash equivalents -26,773 65,693
    Cash and cash equivalents 1.1. 330,996 265,303
    Cash and cash equivalents 31.12. 304,223 330,996
    1) Planned depreciations, other non-cash flow items and items showed elsewhere in cash flow.
    2) VR Track Oy sold the welding and turnout business areas to Vossloh Group in the end of June 2015. Together with Vossloh Group VR Track Oy established two associated companies, Vossloh Rail Services Finland Oy and Vossloh Cogifer Finland Oy, to run these business areas. VR Track Oy owns 40 % of these companies at year end 2015.
    3) Subsidiaries sold less cash and cash equivalents at time of sales.