| Consolidated statement of cash flows | |||||
| MEUR | 2016 | 2015 | Note | ||
| Cash flow from operating activities: | |||||
| Net profit for the financial period | 357 | 451 | |||
| Adjustments for: | |||||
| Depreciation, amortisation and impairment | 138 | 124 | 8 | ||
| Financial income and expenses | 53 | 34 | 10 | ||
| Gains and losses on sale of intangible assets and property, plant and equipment and other changes | -6 | -27 | |||
| Share of result of associates and joint ventures | -14 | -17 | 15 | ||
| Income taxes | 123 | 124 | 11 | ||
| Cash flow before changes in working capital | 650 | 688 | |||
| Changes in working capital: | |||||
| Receivables, non-interest-bearing, increase (-) / decrease (+) | 89 | -193 | |||
| Inventories, increase (-) / decrease (+) | 162 | 79 | 17 | ||
| Liabilities, non-interest-bearing, increase (+) / decrease (-) | -167 | -229 | |||
| Changes in working capital | 84 | -343 | |||
| Cash flow from operating activities before financial items and taxes | 734 | 346 | |||
| Financial items and taxes: | |||||
| Interest and other financial income | 36 | 45 | |||
| Interest and other financial expenses | -31 | -29 | |||
| Income taxes paid | -127 | -108 | |||
| Financial items and paid taxes | -121 | -91 | |||
| Cash flow from operating activities | 613 | 255 | |||
| Cash flow from investing activities: | |||||
| Acquisitions | -81 | -258 | 2 | ||
| Investments in associates and joint ventures | -9 | -9 | 15 | ||
| Investments in property, plant and equipment and intangible assets | -55 | -79 | 13 | 14 | |
| Proceeds from sale of property, plant and equipment and intangible assets | 18 | 13 | |||
| Proceeds from sale of available-for-sale financial assets | 1 | 1 | 16 | ||
| Disposal of discontinued operations, net of cash | 44 | ||||
| Cash flow from investing activities | -126 | -288 | |||
| Cash flow after investing activities | 487 | -33 | |||
| Cash flow from financing activities: | |||||
| Proceeds from non-current debt | 131 | 50 | 25 | ||
| Repayments and other changes in non-current debt | -91 | -112 | 25 | ||
| Loan receivables, increase (-) / decrease (+) | -4 | -16 | |||
| Current loans, increase (+) / decrease (-) | -125 | 110 | |||
| Dividends paid | -250 | -242 | |||
| Cash flow from financing activities | -339 | -210 | |||
| Change in cash and cash equivalents, increase (+) / decrease (-) | 148 | -243 | |||
| Cash and cash equivalents at the beginning of the financial period | 334 | 571 | |||
| Exchange rate changes | -9 | 5 | |||
| Cash and cash equivalents at the end of the financial period | 472 | 334 | |||
| The notes are an integral part of these consolidated financial statements. | |||||
Note
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