Consolidated cash flow statement CF
|
|
2015 |
|
2014 |
|
2013 |
||||||||||
Group |
Note |
SEKm |
|
EURm 1) |
|
SEKm |
|
EURm 1) |
|
SEKm |
|
EURm 1) |
||||
|
||||||||||||||||
Operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Profit before tax |
|
9,992 |
|
1,069 |
|
9,488 |
|
1,044 |
|
8,081 |
|
934 |
||||
T:1 Adjustment for non-cash items |
|
6,604 |
|
706 |
|
4,944 |
|
544 |
|
3,742 |
|
433 |
||||
|
|
16,596 |
|
1,775 |
|
14,432 |
|
1,588 |
|
11,823 |
|
1,367 |
||||
Paid tax |
–2,208 |
|
–236 |
|
–2,101 |
|
–231 |
|
–1,741 |
|
–201 |
|||||
Cash flow from operating activities before changes in working capital |
|
14,388 |
|
1,539 |
|
12,331 |
|
1,357 |
|
10,082 |
|
1,166 |
||||
Cash flow from changes in working capital |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Change in |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Inventories |
|
–1,390 |
|
–149 |
|
–370 |
|
–41 |
|
77 |
|
9 |
||||
Operating receivables |
|
–1,129 |
|
–121 |
|
–162 |
|
–18 |
|
115 |
|
13 |
||||
Operating liabilities |
|
2,120 |
|
227 |
|
86 |
|
10 |
|
–520 |
|
–60 |
||||
Cash flow from operating activities |
|
13,989 |
|
1,496 |
|
11,885 |
|
1,308 |
|
9,754 |
|
1,128 |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Investing activities |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Company acquisitions |
–74 |
|
–8 |
|
–508 |
|
–56 |
|
–1,998 |
|
–231 |
|||||
Divestments |
329 |
|
35 |
|
206 |
|
23 |
|
1,371 |
|
158 |
|||||
T:2 Investments in intangible assets and property, plant and equipment |
|
–7,591 |
|
–812 |
|
–5,733 |
|
–631 |
|
–5,653 |
|
–654 |
||||
Sale of property, plant and equipment |
|
304 |
|
33 |
|
179 |
|
20 |
|
258 |
|
30 |
||||
Loans granted to external parties |
|
– |
|
– |
|
–186 |
|
–21 |
|
– |
|
– |
||||
Sale of securities |
|
2,046 |
|
219 |
|
– |
|
– |
|
– |
|
– |
||||
Repayment of loans from external parties |
|
177 |
|
19 |
|
– |
|
– |
|
282 |
|
33 |
||||
Cash flow from investing activities |
|
–4,809 |
|
–514 |
|
–6,042 |
|
–665 |
|
–5,740 |
|
–664 |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Financing activities |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Acquisition of non-controlling interests |
|
–11 |
|
–1 |
|
–173 |
|
–19 |
|
–1,028 |
|
–119 |
||||
Loans raised |
|
11,100 |
|
1,187 |
|
3,485 |
|
383 |
|
5,530 |
|
639 |
||||
Amortization of debt |
|
–15,039 |
|
–1,608 |
|
–5,819 |
|
–640 |
|
–3,519 |
|
–406 |
||||
Dividend 2) |
|
–3,903 |
|
–417 |
|
–3,564 |
|
–392 |
|
–3,303 |
|
–382 |
||||
Cash flow from financing activities |
|
–7,853 |
|
–839 |
|
–6,071 |
|
–668 |
|
–2,320 |
|
–268 |
||||
Cash flow for the period |
|
1,327 |
|
143 |
|
–228 |
|
–25 |
|
1,694 |
|
196 |
||||
Cash and cash equivalents, January 1 |
|
3,815 |
|
400 |
|
3,785 |
|
424 |
|
2,118 |
|
246 |
||||
Exchange differences in cash and cash equivalents |
|
–100 |
|
10 |
|
258 |
|
1 |
|
–27 |
|
–18 |
||||
Cash and cash equivalents, December 31 |
5,042 |
|
553 |
|
3,815 |
|
400 |
|
3,785 |
|
424 |
|||||
For the Group’s liquidity reserve, refer to the risk section.
SEKm |
2015 |
2014 |
2013 |
Depreciation/amortization and impairment of non-current assets |
8,216 |
5,608 |
5,216 |
Fair-value measurement of forest assets |
–476 |
–615 |
–574 |
Gain/loss on asset sales and swaps |
21 |
–350 |
–586 |
Gain/loss on sale of securities |
–970 |
– |
– |
Gain/loss on divestments |
–92 |
395 |
157 |
Unpaid relating to efficiency program |
232 |
234 |
661 |
Payments relating to efficiency program already recognized |
–302 |
–396 |
–509 |
Revaluation of previous share upon acquisition |
– |
–36 |
–564 |
Other |
–25 |
104 |
–59 |
Total |
6,604 |
4,944 |
3,742 |
SEKm |
2015 |
2014 |
2013 |
Measures to raise the capacity level of operations (Strategic capital expenditures) |
–3,125 |
–1,816 |
–1,906 |
Measures to uphold capacity level (Current capital expenditures) |
–4,466 |
–3,917 |
–3,747 |
Total |
–7,591 |
–5,733 |
–5,653 |
Interest paid, SEKm |
2015 |
2014 |
2013 |
Interest paid |
–1,148 |
–1,290 |
–1,302 |
Interest received |
80 |
124 |
68 |
Total |
–1,068 |
–1,166 |
–1,234 |