Cash Flow

Cash flow
MSEK2017201620152014201320122011201020092008
Operating activities:
Income after financial items2,0041,6111,7311,5239792,0032,783776976-406
Transferred to and establishment of pension fund-------132-147-190-408
Adjustment for items not affecting cash flows1,4791,2266887231,2241,0821412,3171,8353,068
Divident from associated companies and joint ventures2616252------
Income tax paid-272-120-266-394-368-574-450-196-183-182
Cash flow from operating activities before changes in working capital3,2372,7332,1781,8541,8352,5112,3422,7502,4382,072
Cash flow from changes in working capital:
Amounts due from and to customers-4755,092-2,800-868-1,564-6035121,222-1,520-434
Inventories-994-1,329349-856-147-199-243586-401-27
Other current receivables795-2,540511-6433-178-275921,676460
Other current liabilities704521426-243-542-672438-366-236-844
Provisions-103-323-306-536-277-509-630-297-261-273
Cash flow from operating activities3,1644,154358-713-6623502,3924,4871,696954
Investing activities:
Investments in intangible fixed assets-193-98-70-68-44-51-26-70-14-1
Capitalised development costs-871-784-524-171-24-292-15-47-67-635
Investments in tangible fixed assets-1,093-807-799-732-543-328-325-262-197-386
Investments in lease assets------1-1-2-3-
Sales and disposals of tangible fixed assets252771546102311941
Sale of lease assets---1058131230165130212
Investments in and sales of short-term investments63-1,525-1,7227201,936585-2,967-993-551-
Dividend from joint ventures----430-----
Sale of and investments in other financial assets74-144-14240-23826306-6224-58
Investments in operations, net effect on liquidity-170-49-221152-68-568-1,135--68-
Sale of subsidiaries, net effect on liquidity-77312299-1741,26416111443
Cash flow from investing activities-2,165-3,303-3,1593601,576-133-2,575-1,143-526-384
Financing activities:
Repayments of loans-1,301-582-1,865-468-1,100-19-50-1,950-279-
Raising of loans1,7007324,7581,000845----85
Repurchase of shares---252----80-110-209
Dividend paid to Parent Company's shareholders-559-530-501-479-477-474-367-237-187-487
Dividend paid to non-controlling interest-4-5-10-5-1-----
Transactions with non-controlling interest-15------610
Cash flow from financing activities-164-3702,382-204-733-493-417-2,267-570-601
Cash flow for the year835481-419-557181-276-6001,077600-31
Liquid assets at beginning of year1,4028501,2841,7641,6161,9182,5441,463822858
Exchange rate difference in liquid assets-3571-1577-33-26-26441-5
Liquid assets at year-end2,2021,4028501,2841,7641,6161,9182,5441,463822
Financials for 2013 are restated according to the changed accounting principles for joint arrangements (IFRS 11).
Financials for 2012 are restated according to the changed accounting principles for pensions (IAS 19).