Cash flow statement - Essity Annual and Sustainability Report 2021

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		2021		2020		2019
	Note	SEKm	EURm¹⁾	SEKm	EURm¹⁾	SEKm	EURm¹⁾
Operating activities
IS Operating profit		13,199	1,302	16,758	1,600	14,349	1,357
T:1 Adjustment for non-cash items		7,212	711	7,812	746	8,193	774
Operating profit excluding non-cash items		20,411	2,013	24,570	2,346	22,542	2,131
Interest paid		–724	–71	–872	–83	–1,010	–95
Interest received		91	9	101	10	105	10
Other financial items		–39	–4	–205	–20	–420	–40
Change in liabilities relating to restructuring programs, etc.		–594	–59	–1,048	–100	–1,095	–104
Paid tax	B5	–3,634	–358	–3,917	–374	–1,130	–107
Cash flow from operating activities before changes in working capital		15,511	1,530	18,629	1,779	18,992	1,795
Cash flow from changes in working capital

Change in
Inventories		–1,047	–103	–2,207	–211	–194	–18
Operating receivables		–2,084	–206	53	5	–1,949	–184
Operating liabilities		2,287	226	1,344	128	2,502	237
Cash flow from operating activities		14,667	1,447	17,819	1,701	19,351	1,830

Investing activities
Acquisitions of Group companies and other operations	F6	–4,427	–437	–668	–64	–143	–14
Divestments of Group companies and other operations	F6	16	2	65	6	5	0
T:2 Investments in intangible assets and property, plant and equipment		–7,301	–720	–6,587	–629	–5,908	–559
T:2 Paid interest capitalized in intangible assets and property, plant and equipment		–57	–6	–20	–2	–39	–4
Sale of property, plant and equipment		54	5	169	16	239	23
Loans granted to external parties		–418	–41	–54	–5	–62	–6
Cash flow from investing activities		–12,133	–1,197	–7,095	–678	–5,908	–560

Financing activities
Private placement to non-controlling interests		25	2	64	6	4	0
Acquisition of non-controlling interests	F6	–5,961	–588	–	–	–	–
Proceeds from borrowings		19,444	1,918	6,474	618	2,448	231
Repayment of borrowings		–12,003	–1,184	–10,100	–964	–11,708	–1,107
Dividend to non-controlling interests		–571	–56	–423	–40	–336	–32
EQ Dividend		–4,741	–468	–4,390	–419	–4,038	–382
Cash flow from financing activities		–3,807	–376	–8,375	–799	–13,630	–1,290
Cash flow for the period		–1,273	–126	2,349	224	–187	–20
Cash and cash equivalents, January 1²⁾		4,982	497	2,928	281	3,008	293
Translation differences in cash and cash equivalents		195	11	–295	–8	107	8
Cash and cash equivalents, December 31²⁾	E2	3,904	382	4,982	497	2,928	281
1) Translation to EUR is provided for the convenience of the reader. The following average exchange rates were used:			10.14		10.47		10.58
2) Translation to EUR is provided for the convenience of the reader. The following closing exchange rates were used:			10.23		10.03		10.43

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T:1 Adjustment for non-cash items
SEKm	2021	2020	2019
Depreciation/amortization and impairment of non-current assets	7,391	7,671	7,529
Gain/loss on sale of assets	13	–44	24
Gain/loss on divestment and liquidation	21	–69	160
Non-cash items relating to efficiency program	–43	–19	128
Impact from settlement of pension liability	–	–187	–
Revaluation of previously owned shares upon acquisition	–706	–	–
Change in liability for ongoing competition case	–54	–	–
Change in provision for tax of a non-recurring nature on non-current assets	–20	–	–
Other	610	460	352
Total	7,212	7,812	8,193

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T:2 Investments in intangible assets and property, plant and equipment including paid capitalized interest
SEKm	2021	2020	2019
Measures to raise the capacity level of operations (Strategic capital expenditures)	–2,860	–2,675	–1,431
Measures to uphold capacity level (Current capital expenditures)	–4,498	–3,932	–4,516
Total	–7,358	–6,607	–5,947

Consolidated cash flow statement CF