Cloudberry Clean Energy Annual report 2020

Cloudberry Annual report 2020 Financial statements 68 Consolidated statement of cash flows NOK 1 000 Note 1.1.-31.12.2020 1.1.-31.12.2019 Cash flow from operating activeties Operating profit (EBIT) -33 111 -2 613 Depreciations 17 3 289 7 Net income from associated companies 20 3 556 - Unrealised foreign exchange (gain)/loss -1 514 - Change in inventories -6 100 - Change in accounts payable 6 128 - Change in accounts receivabe 5 477 -611 Change in other accruals 17 960 311 Net cash flow from operating activities -4 314 -2 906 Cash flow from investing activeties Interest received 15 984 - Investments in property, plant and equipment 17 -2 842 - Acquisition of shares in subsidiaries, net liquidity outflow 5 -11 690 - Investments in associated companies 20 -340 637 - Net cash flow from (used in) investing activities -354 184 - Cash flow from financing activeties Payment to escrow account 24 -152 422 - Repayment of loan 23 -28 621 - Short term interest bearing debt 24 236 767 - Interest paid other than lease 15 -2 394 - Payment on lease liabilities - interest 25 -153 - Repayment on lease liabilities 25 -750 - Share capital increase 905 928 8 000 Net cash flow from financing activities 958 355 8 000 Total change in cash and cash equivalents 599 856 5 094 Effect of exchange rate changes on cash and cash equivalents 47 - Cash and cash equivalents at start of period 5 223 129 Cash and cash equivalents at end of period 605 126 5 223 SIGNIFICANT ACCOUNTING POLICIES The cash flow statement has been prepared using the indirect method. Operating activities Changes in working capital comprise of inventory, short-term interest-free receivables and short-term interest-free liabilities. Effects related to capital expenditures, unrealised changes or reclassifications are not included in changes in working capital. Investing activities Acquisition/divestment of shares includes cash and cash equivalents in the investee that are recognised/divested at the transaction date. Hence, this is presented net together with the cash consideration paid or received. Financing activities Interest payments from interest rate derivatives, which are used to manage the Group’s debt portfolio, are presented as a part of interest paid. Following the implementation of IFRS 16, both the principal portion and the interest portion of payments of lease liabilities are included in financing activities as repayment of debt and interest paid respectively.

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