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Consolidated statement of cash flows
MEUR 2017 2016 10–12
/2017
10–12
/2016
Cash flow from operating activities:
Profit for the financial period 383 357 167 172
Adjustments for:
Depreciation, amortisation and impairment 134 138 42 34
Financial income and expenses 47 53 10 5
Gains and losses on sale of intangible assets and property, plant and equipment and other changes -17 -6 -7 -1
Share of result of associates and joint ventures -13 -14 -6 -5
Income taxes 122 123 48 55
Cash flow before changes in working capital 657 650 254 260
Changes in working capital:
Receivables, non-interest-bearing, increase (-) / decrease (+) -264 89 -212 -171
Inventories, increase (-) / decrease (+) -27 162 72 210
Liabilities, non-interest-bearing, increase (+) / decrease (-) 189 -167 199 -28
Changes in working capital -102 84 58 11
Cash flow from operating activities before financial items and taxes 555 734 312 271
Financial items and taxes:
Interest income 1 2
Interest expenses -6 -13 1 -3
Other financial income and expenses -2 19 -3 1
Income taxes paid -119 -127 -37 -34
Financial items and paid taxes -126 -121 -36 -36
Cash flow from operating activities 430 613 276 235
Cash flow from investing activities:
Acquisitions -191 -81 -45
Investments in associates and joint ventures -9
Investments in property, plant and equipment and intangible assets -64 -55 -34 -20
Proceeds from sale of property, plant and equipment and intangible assets 17 18 13 8
Proceeds from sale of other investments 2 1 1
Loan receivables, increase (-) / decrease (+), and other changes 1 1
Cash flow from investing activities -235 -126 -66 -11
Cash flow after investing activities 195 487 211 224
Cash flow from financing activities:
Proceeds from non-current debt 90 131
Repayments and other changes in non-current debt -101 -91 -1 -1
Loan receivables, increase (-) / decrease (+) 2 -4
Current loans, increase (+) / decrease (-) -5 -125 -109 -98
Dividends paid -264 -250 -14
Cash flow from financing activities -278 -339 -125 -100
Change in cash and cash equivalents, increase (+) / decrease (-) -83 148 86 125
Cash and cash equivalents at the beginning of the financial period 472 334 292 345
Exchange rate changes -10 -9 2 3
Cash and cash equivalents at the end of the financial period 379 472 379 472

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