| (DKr m) | Q1
2008 | Q1
2007 |
| Cash flow from operations | | |
 | Net profit for the period | 2,567 | 3,822 |
| Adjustment for non-liquid items in the income statement | -4,980 | -3,972 |
| Cash flow from operating capital | 17,398 | 54,057 |
| Total | 14,985 | 53,907 |
| | | |
| Cash flow from investing activities | | |
| Acquisition/sale of business units | - | -19,502 |
| Acquisition/sale of own shares | 173 | 102 |
| Acquisition of intangible assets | -296 | - |
| Acquisition/sale of tangible assets | -355 | -423 |
| Total | -478 | -19,823 |
| | | |
| Cash flow from financing activities | | |
| Changes in subordinated debt and hybrid core capital | -991 | 6,065 |
| Dividends | -5,831 | -5,316 |
| Change in minority interests | -99 | 5 |
| Total | -6,921 | 754 |
| | | |
| Cash and cash equivalents, beginning of period | 338,327 | 264,610 |
| Changes in cash and cash equivalents | 7,586 | 23,568 |
| Acquisition/sale of business units | - | 11,270 |
| Cash and cash equivalents, end of period | 345,913 | 299,448 |
|