REC Silicon Annual Report 2019

REC Silicon Annual Report 2019 83 STATEMENTOFCASHFLOWS (NGAAP) RECSILICONASA YEAR ENDED DECEMBER 31 (USD INTHOUSAND) 2019 2018 Cash flows from operating activities Profit/loss before tax -84,972 -335,988 Impairment losses financial assets 1) 70,676 391,889 Changes in receivables external 99 53 Changes in payables 291 -1,262 Currency effects not cash flow or not related to operating activities 2) -450 -1,811 Other items 3) 330 3,205 Net cash flow from operating activities -14,027 56,086 Cash flow from investing activities Investment in equity in subsidiaries -3,100 -2,783 Investment in loan to subsidiaries 0 -57,300 Proceeds from finance receivables and restricted cash -10 201 Net cash flow from investing activities -3,110 -59,881 Cash flow from financing activities Increase in equity 19,030 0 Payments of borrowings and up-front/waiver loan fees 0 -171,404 Proceeds from borrowing 0 110,000 Net cash flow from financing activities 19,030 -61,404 Net increase/decrease in cash and cash equivalents 1,893 -65,199 Cash and cash equivalents at the beginning of the period 16,970 82,169 Cash and cash equivalents at the end of the period 18,862 16,970 1) Impairment losses financial assets. See note M. 2) The Currency gains and losses are primarily related to liabilities in NOK. 3) Other items consist of the expensing of up-front loan fees and amortization of interests. For 2018, Other items also include Excess premium paid related to buyback of NOK bond and USD Convertible bond.