| Note |
|
2006 |
2005 |
|
| |
|
DKK million |
DKK million |
|
|
|
|
|
|
|
Net profit |
911 |
861 |
|
|
|
|
|
|
| 32 |
Reversal of
non-cash expenses |
996 |
756 |
|
|
Corporation tax paid |
(120) |
(382) |
|
|
Interest received |
133 |
65 |
|
|
Interest paid |
(147) |
(95) |
|
|
Cash
flow before change in working capital |
1,773 |
1,205 |
|
|
|
|
|
|
|
Change in working
capital: |
|
|
|
|
(Increase)/decrease
in receivables |
(80) |
(53) |
|
|
(Increase)/decrease
in inventories |
(48) |
(23) |
|
|
Increase/(decrease)
in trade payables and other liabilities |
(111) |
197 |
|
|
Cash flow
from operating activities |
1,534 |
1,326 |
|
|
|
|
|
|
|
Investments: |
|
|
|
| 10 |
Purchase of
intangible fixed assets |
(13) |
(11) |
|
|
Sale of
property, plant and equipment |
29 |
31 |
|
| 11 |
Purchase
of property, plant and equipment |
(492) |
(355) |
|
| 35 |
Acquisition of
companies |
(477) |
- |
|
|
Cash flow
from investing activities |
(953) |
(335) |
|
|
|
|
|
|
|
Free cash flow |
581 |
991 |
|
|
|
|
|
|
|
Financing: |
|
|
|
|
Non-current borrowings |
385 |
- |
|
| 17 |
Sale of
shares in Novo Nordisk A/S |
15 |
22 |
|
| 18 |
Purchase of
treasury shares, net |
(996) |
(927) |
|
|
Dividend paid |
(255) |
(231) |
|
|
Cash flow
from financing activities |
(851) |
(1,136) |
|
|
|
|
|
|
|
Net cash flow |
(270) |
(145) |
|
|
|
|
|
|
|
Unrealised
gain/(loss) on currencies and financial assets included in cash and cash
equivalents |
(26) |
29 |
|
|
Net
change in cash and cash equivalents |
(296) |
(116) |
|
|
|
|
|
|
|
Cash and
cash equivalents at January 1 |
367 |
483 |
|
| 33 |
Cash
and cash equivalents at December 31 |
71 |
367 |
|
|
|
|
|
|
| 34 |
Undrawn
committed credit facilities |
3,000 |
3,000 |
|
|
Financial
resources at December 31 |
3,071 |
3,367 |
|
|
|
|
|
|
