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Novo Annual Report 2015
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accounts, extracts
cash
flow
statement 1 january to 31 december 2015 2014 dkk million dkk million net profit 14,848 13,460 adjustment for non-
cash
items -11,322 -9,971 contribution from the novo nordisk foundation in the joint investment portfolio 10,215 - sale of shares in associates - 159 sale of shares relating to life science investments 4,930 5,145 purchase of shares relating to life science investments -3,238 -1,724 sale of securities 12,190 5,755 purchase of securities -22,223 -6,974 paid tax -1 -22
cash
flow
before change in working capital 5,399 5,828 change in working capital: changes in accounts with affiliated companies -2 7 changes in other receivables -1 -94 changes in other liabilities -10 13
cash
flow
from operating
activities
5,386 5,754 investment
activities
proceeds from sale of shares in subsidiaries 536 319 purchase of shares in subsidiaries -797 -1,515 loans to subsidiaries -66 -3,062 repayment of loans to subsidiaries 1,205 586
cash
flow
from investment
activities
878 -3,672 financing
activities
bank loan (bridge financing) -1,071 1,071 dividends paid -4,715 -2,745
cash
flow
from financing
activities
-5,786 -1,674 net
cash
flow
478 408
cash
and
cash
equivalents at the beginning of the year 601 193
cash
and
cash
equivalents at the end of the year 1,079 601 annual review 2015 67 accounts, extracts
result-profit-848-68.html
