Consolidated cash flow statement CF
|
|
2016 |
|
2015 |
|
2014 |
||||||||||||
Group |
Note |
SEKm |
|
EURm 1) |
|
SEKm |
|
EURm 1) |
|
SEKm |
|
EURm 1) |
||||||
|
||||||||||||||||||
Operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
IS Profit before tax |
|
10,360 |
|
1,096 |
|
9,992 |
|
1,069 |
|
9,488 |
|
1,044 |
||||||
T:1 Adjustment for non-cash items |
|
7,025 |
|
743 |
|
6,604 |
|
706 |
|
4,944 |
|
544 |
||||||
|
|
17,385 |
|
1,839 |
|
16,596 |
|
1,775 |
|
14,432 |
|
1,588 |
||||||
Paid tax |
–3,799 |
|
–402 |
|
–2,208 |
|
–236 |
|
–2,101 |
|
–231 |
|||||||
Cash flow from operating activities before changes in working capital |
|
13,586 |
|
1,437 |
|
14,388 |
|
1,539 |
|
12,331 |
|
1,357 |
||||||
Cash flow from changes in working capital |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Change in |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Inventories |
|
1,076 |
|
114 |
|
–1,390 |
|
–149 |
|
–370 |
|
–41 |
||||||
Operating receivables |
|
–236 |
|
–25 |
|
–1,129 |
|
–121 |
|
–162 |
|
–18 |
||||||
Operating liabilities |
|
1,130 |
|
119 |
|
2,120 |
|
227 |
|
86 |
|
10 |
||||||
Cash flow from operating activities |
|
15,556 |
|
1,645 |
|
13,989 |
|
1,496 |
|
11,885 |
|
1,308 |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Investing activities |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Company acquisitions |
–4,420 |
|
–467 |
|
–74 |
|
–8 |
|
–508 |
|
–56 |
|||||||
Divestments |
489 |
|
52 |
|
329 |
|
35 |
|
206 |
|
23 |
|||||||
T:2 Investments in intangible assets and property, plant and equipment |
|
–9,388 |
|
–993 |
|
–7,591 |
|
–812 |
|
–5,733 |
|
–631 |
||||||
Sale of property, plant and equipment |
|
206 |
|
21 |
|
304 |
|
33 |
|
179 |
|
20 |
||||||
Loans granted to external parties |
|
– |
|
– |
|
– |
|
– |
|
–186 |
|
–21 |
||||||
Sale of securities |
|
– |
|
– |
|
2,046 |
|
219 |
|
– |
|
– |
||||||
Repayment of loans to external parties |
|
141 |
|
15 |
|
177 |
|
19 |
|
– |
|
– |
||||||
Cash flow from investing activities |
|
–12,972 |
|
–1,372 |
|
–4,809 |
|
–514 |
|
–6,042 |
|
–665 |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Financing activities |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Private placement to non-controlling interests |
|
435 |
|
46 |
|
– |
|
– |
|
– |
|
– |
||||||
Acquisition of non-controlling interests |
|
–50 |
|
–5 |
|
–11 |
|
–1 |
|
–173 |
|
–19 |
||||||
Loans raised |
|
16,165 |
|
1,710 |
|
11,100 |
|
1,187 |
|
3,485 |
|
383 |
||||||
Amortization of debt |
|
–15,614 |
|
–1,651 |
|
–15,039 |
|
–1,608 |
|
–5,819 |
|
–640 |
||||||
Dividend 3) |
|
–4,228 |
|
–447 |
|
–3,903 |
|
–417 |
|
–3,564 |
|
–392 |
||||||
Cash flow from financing activities |
|
–3,292 |
|
– 347 |
|
–7,853 |
|
–839 |
|
–6,071 |
|
–668 |
||||||
Cash flow for the period |
|
– 708 |
|
–74 |
|
1,327 |
|
143 |
|
–228 |
|
–25 |
||||||
Cash and cash equivalents, January 1 |
|
5,042 |
|
533 |
|
3,815 |
|
400 |
|
3,785 |
|
424 |
||||||
Exchange differences in cash and cash equivalents |
|
148 |
|
10 |
|
–100 |
|
9 |
|
258 |
|
1 |
||||||
Cash and cash equivalents, December 31 2) |
4,482 |
|
469 |
|
5,042 |
|
552 |
|
3,815 |
|
400 |
For the Group’s liquidity reserve, refer to the risk section on page 81.
SEKm |
2016 |
2015 |
2014 |
Depreciation/amortization and impairment of non-current assets |
6,815 |
8,216 |
5,607 |
Fair-value measurement of forest assets |
–689 |
–476 |
–615 |
Gain/loss on asset sales and swaps |
19 |
21 |
–350 |
Gain on sale of securities |
– |
–970 |
– |
Gain/loss on divestments |
–265 |
–92 |
395 |
Unpaid relating to efficiency program |
571 |
232 |
234 |
Payments relating to efficiency program already recognized |
–262 |
–302 |
–396 |
Revaluation of previous share upon acquisition |
– |
– |
–36 |
Provision for ongoing competition case |
813 |
– |
– |
Other |
23 |
–25 |
105 |
Total |
7,025 |
6,604 |
4,944 |
SEKm |
2016 |
2015 |
2014 |
Measures to raise the capacity level of operations (Strategic capital expenditures) |
–4,264 |
–3,125 |
–1,816 |
Measures to uphold capacity level (Current capital expenditures) |
–5,388 |
–4,466 |
–3,917 |
Investments in finance leases |
264 |
– |
– |
Total |
–9,388 |
–7,591 |
–5,733 |