| Consolidated statement of cash flows | |||||
| MEUR | 2018 | 2017 |
10–12 /2018 |
10–12 /2017 |
|
| Cash flow from operating activities: | |||||
| Profit for the financial period | 386 | 375 | 153 | 165 | |
| Adjustments for: | |||||
| Depreciation, amortisation and impairment | 130 | 134 | 37 | 42 | |
| Financial income and expenses | 39 | 47 | 12 | 10 | |
| Gains and losses on sale of intangible assets and property, plant and equipment and other changes | -26 | -17 | -22 | -7 | |
| Share of result of associates and joint ventures | -13 | -13 | -3 | -6 | |
| Income taxes | 116 | 117 | 41 | 47 | |
| Other non-cash flow adjustment | -7 | -7 | |||
| Cash flow before changes in working capital | 625 | 643 | 211 | 251 | |
| Changes in working capital: | |||||
| Receivables, non-interest-bearing, increase (-) / decrease (+) | -22 | -284 | -103 | -217 | |
| Inventories, increase (-) / decrease (+) | -130 | -27 | 91 | 72 | |
| Liabilities, non-interest-bearing, increase (+) / decrease (-) | 117 | 223 | 167 | 207 | |
| Changes in working capital | -35 | -87 | 155 | 62 | |
| Cash flow from operating activities before financial items and taxes | 589 | 555 | 366 | 312 | |
| Financial items and taxes: | |||||
| Interest income | 6 | 1 | 2 | 2 | |
| Interest expenses | -14 | -6 | -4 | 1 | |
| Other financial income and expenses | -7 | -2 | -10 | -3 | |
| Income taxes paid | -104 | -119 | -5 | -37 | |
| Financial items and paid taxes | -119 | -126 | -17 | -36 | |
| Cash flow from operating activities | 470 | 430 | 349 | 276 | |
| Cash flow from investing activities: | |||||
| Acquisitions | -191 | -191 | 1 | -45 | |
| Investments in associates and joint ventures | -1 | ||||
| Other investments | -3 | ||||
| Investments in property, plant and equipment and intangible assets | -110 | -64 | -49 | -34 | |
| Reduction of share capital in associates and joint ventures | 13 | ||||
| Proceeds from sale of property, plant and equipment and intangible assets | 11 | 17 | 2 | 13 | |
| Proceeds from sale of shares in subsidiaries | 41 | 41 | |||
| Proceeds from sale of other investments | 2 | ||||
| Loan receivables, increase (-) / decrease (+), and other changes | 1 | 1 | 1 | ||
| Cash flow from investing activities | -240 | -235 | -5 | -66 | |
| Cash flow after investing activities | 230 | 195 | 344 | 211 | |
| Cash flow from financing activities: | |||||
| Proceeds from non-current debt | 279 | 90 | |||
| Repayments and other changes in non-current debt | -84 | -101 | -26 | -1 | |
| Loan receivables, increase (-) / decrease (+) | -4 | 2 | -4 | ||
| Current loans, increase (+) / decrease (-) | -35 | -5 | -34 | -109 | |
| Dividends paid | -274 | -264 | -13 | -14 | |
| Cash flow from financing activities | -118 | -278 | -77 | -125 | |
| Change in cash and cash equivalents, increase (+) / decrease (-) | 112 | -83 | 267 | 86 | |
| Cash and cash equivalents at the beginning of the financial period | 379 | 472 | 221 | 292 | |
| Exchange rate changes | -5 | -10 | -2 | 2 | |
| Cash and cash equivalents at the end of the financial period | 487 | 379 | 487 | 379 | |
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