Cash flow statement - Essity Annual and Sustainability Report 2020

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2020

2019

2018

Note

SEKm

EURm¹⁾

SEKm

EURm¹⁾

SEKm

EURm¹⁾

Operating activities

IS Operating profit

16,758

1,600

14,349

1,357

10,759

1,050

T:1 Adjustment for non-cash items

7,812

746

8,193

774

7,562

738

24,570

2,346

22,542

2,131

18,321

1,788

Interest paid

–872

–83

–1,010

–95

–818

–80

Interest received

101

10

105

10

85

8

Other financial items

–205

–20

–420

–40

–408

–39

Change in liabilities relating to restructuring programs, etc.

–1,048

–100

–1,095

–104

–583

–57

Paid tax

B5

–3,917

–374

–1,130

–107

–2,466

–241

Cash flow from operating activities before changes in working capital

18,629

1,779

18,992

1,795

14,131

1,379

Cash flow from changes in working capital

Change in

Inventories

–2,207

–211

–194

–18

–1,017

–99

Operating receivables

53

5

–1,949

–184

–344

–34

Operating liabilities

1,344

128

2,502

237

390

38

Cash flow from operating activities

17,819

1,701

19,351

1,830

13,160

1,284

Investing activities

Acquisitions of Group companies and other operations

F6

–668

–64

–143

–14

–461

–45

Divestments of Group companies and other operations

F6

65

6

5

0

68

7

T:2 Investments in intangible assets and property, plant and equipment

–6,587

–629

–5,908

–559

–6,882

–672

T:2 Paid interest capitalized in intangible assets and property, plant and equipment

–20

–2

–39

–4

–24

–2

Sale of property, plant and equipment

169

16

239

23

134

13

Loans granted to external parties

–54

–5

–62

–6

–

Repayment of loans from external parties

–

178

17

Cash flow from investing activities

–7,095

–678

–5,908

–560

–6,987

–682

Financing activities

Private placement to non-controlling interests

64

6

4

0

5

0

Proceeds from borrowings

6,474

618

2,448

231

4,386

428

Repayment of borrowings

–10,100

–964

–11,708

–1,107

–7,295

–711

Dividend to non-controlling interests

E8

–423

–40

–336

–32

–397

–39

Dividend

E8

–4,390

–419

–4,038

–382

–4,038

–394

Cash flow from financing activities

–8,375

–799

–13,630

–1,290

–7,339

–716

Cash flow for the period

2,349

224

–187

–20

–1,166

–114

Cash and cash equivalents, January 1²⁾

2,928

281

3,008

293

4,107

418

Translation differences in cash and cash equivalents

–295

–8

107

8

67

–11

Cash and cash equivalents, December 31²⁾

E2

4,982

497

2,928

281

3,008

293

1)	Translation to EUR is provided for the convenience of the reader. An average exchange rate of 10.47 (10.58; 10.25) was used.
2)	Translation to EUR is provided for the convenience of the reader. Closing exchange rate of 10.03 (10.43; 10.28) was used.

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T:1 Adjustment for non-cash items
SEKm	2020	2019	2018
Depreciation/amortization and impairment of non-current assets	7,671	7,529	6,708
Gain/loss on sale of assets	–44	24	35
Gain/loss on divestment and liquidation	–69	160	–69
Non-cash items relating to efficiency program	–19	128	669
Impact from settlement of pension liability	–187	–	–
Revaluation of previously owned shares upon acquisition	–	–	–225
Change in provision for ongoing competition case	–	–	95
Change in provision for tax of a non-recurring nature on non-current assets	–	–	–288
Impairment of participations in associated companies	–	–	278
Other	460	352	359
Total	7,812	8,193	7,562

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T:2 Investments in intangible assets and property, plant and equipment including paid capitalized interest
SEKm	2020	2019	2018
Measures to raise the capacity level of operations (Strategic capital expenditures)	–2,675	–1,431	–2,424
Measures to uphold capacity level (Current capital expenditures)	–3,932	–4,516	–4,490
Investments through finance leases	–	–	8
Total	–6,607	–5,947	–6,906

Consolidated cash flow statement CF