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AAK Annual Report 2015

43 Consolidated Cash Flow Statement Jan–Dec Jan–Dec SEK million Note 2015 2014 OPERATING ACTIVITIES 30 Profit after financial items 1,295 1,154 Recoveries on amortisation and impairment losses 431 381 Adjustment for items not included in cash flow 30 -100 36 Income tax paid -270 -319 Cash flow from operations before changes to working capital 1,356 1,252 Changes in working capital Net change in inventories -292 -427 Net change in other current receivables 265 -443 Net change in other current operating liabilities 407 310 Cash flow from operating activities 1,736 692 INVESTING ACTIVITIES Acquisition of intangible assets -25 -28 Acquisition of property, plant and equipment -969 -571 Acquisition of operations and shares, net of cash acquired 27 -123 -252 Proceeds from sale of property, plant and equipment 1 2 Divestment of operations and shares 100 141 Cash flow from investing activities -1,016 -708 FINANCING ACTIVITIES New share issue 107 112 Loans raised 269 527 Amortisation of loans -613 -363 Dividends paid -284 -250 Cash flow from financing activities -521 26 Cash flow for the year 199 10 Cash and cash equivalents at beginning of year 264 231 Exchange rate difference for cash equivalents -4 23 Cash and cash equivalents at year-end 19 459 264


AAK Annual Report 2015
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