Financial position and cash flow

Financial position

Investments and divestments

Net debt

MSEK Dec 31
2020
Dec 31
2019
Mkr 31 dec
2020
31 dec
2019
Bank loans Banklån 2,135 1,864
Commercial papers Företagscertifikat 110 1,359
Bonds Obligationer 2,249 2,248
Financial leasing liabilities Finansiella leasingskulder 634 579
Project financing, unsold part of housing projects Projektfinansiering, osåld del av bostadsprojekt 1,055 3,088
Interest-bearing receivables Räntebärande fordringar -1,342 -1,230
Liquid funds Likvida medel -968 -373
Net debt, segment reporting Nettoskuld, segmentsredovisning 3,873 7,535
Additional leasing liabilities according to IFRS 16 Tillkommande leasingskulder enligt IFRS 16 1,808 764
Project financing, sold part of housing projects Projektfinansiering, såld del av bostadsprojekt 4,001 4,875
Net debt, IFRS Nettoskuld, IFRS 9,682 13,174

Net debt and debt/equity ratio

Highway E20

Alingsås

Cash flow

October – December 2020

During the quarter cash flow from current operations improved to SEK 2,010 million (1,264), of which cash flow from changes in working capital was SEK 865 million (60). Business areas Industry and Project Development reported improved cash flows from changes in working capital compared to the corresponding quarter last year.

Cash flow from investment activities was SEK -247 million (-169) and consisted mostly of machine investments.

Cash flow before financing improved to SEK 1,763 million (1,095).

January – December 2020

Cash flow from current operations was strong during the year and amounted to SEK 6,749 million (1,628), of which cash flow from changes in working capital was SEK 2,886 million (-1,427). All business areas reported improved cash flows from changes in working capital except Construction where cash flow was slightly lower compared to 2019. A large part of the positive cash flows from changes in working capital comes from having sold more of our developed homes than production started during the year.

Cash flow from investment activities was SEK -3,970 million (-603) where the acquisition price of the paving and mineral aggregates operations was included by SEK -3,184 million. Most of the other investments during the year consisted of machine investments.

Cash flow before financing improved and amounted to SEK 2,779 million (1,025).

Cash flow before financing

Financial goals

Equity/assets ratio

Goal > 25%

Return on equity

Goal > 20%

Dividends
* In 2019 no dividend was distributed. The value of the distribution of Annehem Fastigheter at the time of the distribution in December 2020 was 97 percent of the profit for the year 2019. ** In 2020, the Board’s proposal to the AGM. The proportion is calculated without the effect of MSEK 952 on profit due to the distribution of Annehem Fastigheter.

Goal > 50% of the profit for the year

Years 2011-​2018 are not translated according to the changed accounting principles. For more information, see the section Net sales and profit, as well as note 1.