| OPERATING ACTIVITIES |
|
|
|
| Profit after financial items |
|
408 |
447 |
| Adjustment for items not included in cash flow |
28 |
101 |
102 |
| Income tax paid |
|
-166 |
-112 |
| Cash flow from operating activities before changes in working capital |
|
343 |
437 |
| Cash flow from changes in working capital |
|
|
|
| Changes in inventories |
|
20 |
-26 |
| Changes in operating receivables |
|
49 |
-51 |
| Changes in operating liabilities |
|
-73 |
55 |
| Cash flow from operating activities |
|
339 |
415 |
| |
|
|
|
| INVESTING ACTIVITIES |
|
|
|
| Acquisition of property, plant and equipment |
|
-35 |
-32 |
| Disposal of property, plant and equipment |
|
2 |
2 |
| Acquisition of intangible non-current assets |
|
-7 |
-6 |
| Acquisition of operations, net liquidity effect |
28 |
-311 |
-260 |
| Disposal of operations, net liquidity effect |
28 |
- |
0 |
| Cash flow from investing activities |
|
-351 |
-296 |
| |
|
|
|
| FINANCING ACTIVITIES |
|
|
|
| Repurchase of own shares |
|
- |
-71 |
| Exercised and issued call options |
|
24 |
1 |
| Borrowings |
|
310 |
396 |
| Repayments on loans |
|
-110 |
-284 |
| Other financing |
|
-1 |
-2 |
| Dividend paid to equity holders of the Parent Company |
|
-174 |
-156 |
| Dividend paid to non-controlling interests |
|
-4 |
-3 |
| Cash flow from financing activities |
|
45 |
-119 |
| |
|
|
|
| Cash flow for the year |
|
33 |
0 |
| |
|
|
|
| Cash and cash equivalents at beginning of year |
|
50 |
50 |
| Exchange differences on cash and cash equivalents |
|
-11 |
0 |
| Cash and cash equivalents at year-end |
|
72 |
50 |