Summary financial statements

Reed Elsevier NV
Summary cash flow statement

for the year ended 31 December 2002		 2002
 Eurom		 2001
Eurom


Net cash outflow from operating activities

Dividends received from joint ventures

Returns on investments and servicing of finance

Taxation

Investment in joint venture

Equity dividends paid

    


–

150

6

(3)

–

(222)

  


(3)

100

62

17

(916)

(204)

    


Cash outflow before changes in short term investments and financing

Decrease in short term investments

Financing

    
(69)

10

59 		 
(944)

946

(2)		    

Issue of shares, net of expenses

Net repayment of debenture loans

Decrease/(increase) in funding balances to joint ventures

     22

(1)

38 		  92

(1)

(93)		    

Change in net cash		    
–		  
–		    
     
1 2 3 4 5 6 7 i ii iii iv v
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