Financial position

  2015 2014 2013  2012 2011
Cash and cash equivalents, EUR mill. 19.1 29.3 33.9 36.1 33.2
Interest bearing liabilities, EUR mill. 783.4 833.9 814.8 848.5 862.5
Interest bearing net debt, EUR mill. 753.6 799.4 735.3 768.6 783.7
Net gearing, % 72.1 105.4 87.3 90.9 95.3
Equity ratio,% 46.1 39.3 43.8 42.8 42.2
Cash flows from operating activities, EUR mill. 17.2 29.6 125.4 123.7 66.2
Investments, EUR mill. 53.4 53.8 56.8 40.9 66.0
Return on capital employed, % -7.6 -4.9 3.4 5.1 4.1