Cash flow statement – the Group

MSEK Note 2017 2016
Current operations 44
Pre-tax profit 2,445  2,050
Adjustments for non-cash items 988  872
Income tax paid -651  -19
Cash flow from current operations before working capital changes 2,782  2,903
Cash flow from changes in working capital
Increase (-) /Decrease (+) project and development properties -425  -146
Increase (-) /Decrease (+) inventories -174  -158
Increase (-) /Decrease (+) current receivables -386  -2,133
Increase (+) /Decrease (-) current liabilities 1,042  2,989
Cash flow from changes in working capital 57  552
Cash flow from current operations   2,839  3,455
Investment operations
Acquisition of subsidiaries/businesses, net effect on liquid funds -160  -137
Sale of subsidiaries/businesses, net effect on liquid funds 4  5
Acquisition of intangible fixed assets -56  -2
Acquisition of tangible fixed assets -1,256  -847
Sale of tangible fixed assets 109  107
Acquisition of investment property -265
Acquisition of financial assets -388  -688
Sale of financial assets 1,468  758
Cash flow from investment operations -544  -804
Cash flow before financing   2,295   2,651
Financing operations
Change in used loan facility  -1,500
Raised loans 952  1,027
Loan amortization -933  -634
Raised bonds  349
Bond amortization -349  -999
Leasing liabilities amortization -229  -212
Change in issued commercial papers -1,129  123
Dividend distributed to shareholders in parent company -1,062  -767
Cash flow from financing operations -2,750  -2,613
Cash flow for the year   -455  38
Cash at the beginning of the year 1,062 873
Exchange rate differences in cash -12  151
Cash at year-end 595  1,062