Consolidated Cash Flow Statement, IFRS

EUR million | 31.12.20142013
Cash flows from operating activities:
Cash receipts from sales1,348.91,469.9
Cash paid for operating activities-870.9-1,045.5
Cash generated from operations477.9424.3
Interest paid-69.8-56.3
Interest received3.33.4
Dividends received0.00.0
Income taxes paid-88.2-53.9
Net cash from operating activities (A)323.4317.6
Cash flow from investing activities:
Acquisitions of property, plant and equipment and intangible assets-81.7-151.8
Proceeds from sale of property, plant and equipment and intangible assets3.211.2
Acquisitions of Group companies, net of cash acquired-5.8-2.7
Change in Non-controlling interest-0.30.0
Net cash used in investing activities (B)-84.7-143.4
Cash flow from financing activities:
Proceeds from issue of share capital2.617.8
Purchase of treasury shares-8.6-
Change in current financial receivables-8.0-1.2
Change in non-current financial receivables-3.43.8
Change in financial current borrowings62.2-39.5
Change in financial non-current borrowings-79.632.8
Dividens received0.4-
Dividends paid-193.4-191.9
Net cash from financing activities (C)-227.7-178.1
Net increase in cash and cash equivalents (A+B+C)11.0-4.0
Cash and cash equivalents at the beginning of the period424.6430.3
Effect of exchange rate fluctuations on cash held4.3-1.8
Cash and cash equivalents at the end of the period439.9424.6

The company has received a stay of execution from the Finnish Tax Administration for the collection of the tax increases based on the tax reassessment decisions on years 2007–2010. In spite of this stay of execution the Finnish Tax Administration has taken funds in accordance with these aforesaid decisions from company’s tax account setting off company’s other tax refunds. Financial items and taxes in 2014 contain these set-offs by the Tax Administration in total of EUR 34.2 million.