| Consolidated statement of cash flows | |||||
| MEUR | 2018 | 2017 | Note | ||
| Cash flow from operating activities: | |||||
| Profit for the financial period | 386 | 375 | |||
| Adjustments for: | |||||
| Depreciation, amortisation and impairment | 130 | 134 | 8 | ||
| Financial income and expenses | 39 | 47 | 10 | ||
| Gains and losses on sale of intangible assets and property, plant and equipment and other changes | -26 | -17 | |||
| Share of result of associates and joint ventures | -13 | -13 | 15 | ||
| Income taxes | 116 | 117 | 11 | ||
| Other non-cash flow adjustments | -7 | ||||
| Cash flow before changes in working capital | 625 | 643 | |||
| Changes in working capital: | |||||
| Receivables, non-interest-bearing, increase (-) / decrease (+) | -22 | -284 | |||
| Inventories, increase (-) / decrease (+) | -130 | -27 | 17 | ||
| Liabilities, non-interest-bearing, increase (+) / decrease (-) | 117 | 223 | |||
| Changes in working capital | -35 | -87 | |||
| Cash flow from operating activities before financial items and taxes | 589 | 555 | |||
| Financial items and taxes: | |||||
| Interest income | 6 | 1 | |||
| Interest expenses | -14 | -6 | |||
| Other financial income and expenses | -7 | -2 | |||
| Income taxes paid | -104 | -119 | |||
| Financial items and taxes | -119 | -126 | |||
| Cash flow from operating activities | 470 | 430 | |||
| Cash flow from investing activities: | |||||
| Acquisitions | -191 | -191 | 2 | ||
| Investments in associates and joint ventures | -1 | 15 | |||
| Other investments | -3 | 16 | |||
| Investments in property, plant and equipment and intangible assets | -110 | -64 | 13 | 14 | |
| Reduction of share capital in associates and joint ventures | 13 | ||||
| Proceeds from sale of property, plant and equipment and intangible assets | 11 | 17 | 15 | ||
| Proceeds from sale of shares in subsidiaries | 41 | 3 | |||
| Proceeds from sale of other investments | 2 | 16 | |||
| Loan receivables, increase (-) / decrease (+), and other changes | 1 | 1 | |||
| Cash flow from investing activities | -240 | -235 | |||
| Cash flow after investing activities | 230 | 195 | |||
| Cash flow from financing activities: | |||||
| Proceeds from non-current debt | 279 | 90 | |||
| Repayments and other changes in non-current debt | -84 | -101 | 26 | ||
| Loan receivables, increase (-) / decrease (+) | -4 | 2 | |||
| Current loans, increase (+) / decrease (-) | -35 | -5 | |||
| Dividends paid | -274 | -264 | |||
| Cash flow from financing activities | -118 | -278 | |||
| Change in cash and cash equivalents, increase (+) / decrease (-) | 112 | -83 | |||
| Cash and cash equivalents at the beginning of the financial period | 379 | 472 | |||
| Exchange rate changes | -5 | -10 | |||
| Cash and cash equivalents at the end of the financial period | 487 | 379 | |||
| The notes are an integral part of these consolidated financial statements. | |||||
Note
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