Consolidated cash flow statement

Note 28

Cash flow statement

Adjustment for	Group		Parent Company
items not included in cash flow	2019/2020	2018/2019	2019/2020	2018/2019
Depreciation/amortisation	418	226	1	1
Revaluation of contingent considerations	-52	-8	–	–
Gain/loss on sale of operations and non-current assets	-1	-6	–	–
Change in pension liability	2	0	2	2
Change in other provisions and accrued items	-4	14	–	–
Other	-9	3	-3	-3
Total	354	229	0	0

For the Group, interest received during the year totalled SEK 4 million (3), and interest paid was SEK 19 million (13). For the Parent Company, interest received during the year was SEK 27 million (25), and interest paid was SEK 17 million (13).

Acquisitions
The following adjustments were made as a result of the value of assets and liabilities in companies acquired during the year, together with adjustments such as contingent considerations paid for acquisitions made in previous years:

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	2019/2020	2018/2019
Non-current assets	440	689
Inventories	82	63
Receivables	110	185
Cash and cash equivalents	65	101
Total	697	1,038
Interest-bearing liabilities and provisions	-138	-150
Non-interest-bearing liabilities and provisions	-142	-241
Total	-280	-391
Total adjustments of assets and liabilities	417	647

Consideration paid, the year’s acquisitions	-417	-647
Consideration paid, prior years’ acquisitions	-79	-116
Cash and cash equivalents in acquired companies	65	101
Effect on the Group’s cash and cash equivalents	-431	-662

All operations acquired during the year were consolidated in the accounts using the acquisition method.

Divestments
The following adjustments have been made as a result of the valuation of assets and liabilities in companies divested during the year:

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	2019/2020	2018/2019
Non-current assets	0	8
Inventories	0	16
Receivables	1	18
Cash and cash equivalents	0	3
Interest-bearing liabilities and provisions	–	-8
Non-interest-bearing liabilities and provisions	0	-22
Divested net assets	1	15
Total	0	5
Consideration paid incl. contingent consideration	1	20
Cash and cash equivalents in acquired companies	0	-3
Effect on the Group’s cash and cash equivalents	1	17

Cash and cash equivalents in the cash flow statement consist of cash and bank balances. The same definition used in determining cash and cash equivalents in the balance sheet has been applied in the cash flow statement.

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Reconciliation of debts arising from financing activities
	1 April 2019	Cash flows	Non-cash changes						31 March 2020
Group			Acquisitions of subsidiaries	Adjustment in income statement	Exchange rate differences	New lease contract	Ended lease contract	New accounting principle, IFRS 16
Bank overdraft facility	1,030	-873	-	-	0	-	-	-	157
Liabilities to credit institutions	739	897	10	-	3	-	-	-	1,649
Other non-current interest-bearing liabilities	229	1	-4	-48	5	-	-	-	183
Lease liabilities	-	-156	-	8	6	216	-5	558	627
Liabilities stemming from financing activities	1,998	-131	6	-40	14	216	-5	558	2,616

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Reconciliation of debts arising from financing activities
	1 April 2018	Cash flows	Non-cash changes			31 March 2019
Group			Acquisitions of subsidiaries	Adjustment in income statement	Exchange rate differences
Bank overdraft facility	820	210	-	-	-	1,030
Liabilities to credit institutions	315	371	52	-	1	739
Other non-current interest-bearing liabilities	233	8	-13	3	-2	229
Liabilities stemming from financing activities	1,368	589	39	3	-1	1,998

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Reconciliation of debts arising from financing activities
Parent Company	1 April 2019	Cash flows	31 March 2020
Bank overdraft facility	1,030	-874	156
Liabilities to credit institutions	700	900	1,600
Liabilities stemming from financing activities	1,730	26	1,756

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Reconciliation of debts arising from financing activities
Parent Company	1 April 2018	Cash flows	31 March 2019
Bank overdraft facility	821	209	1,030
Liabilities to credit institutions	300	400	700
Liabilities stemming from financing activities	1,121	609	1,730

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SEKm	Notes	2019/2020	2018/2019
OPERATING ACTIVITIES
Profit after financial items		1,105	865
Adjustment for items not included in cash flow	28	354	229
Income tax paid		-273	-230
Cash flow from operating activities before changes in working capital		1,186	864
Cash flow from changes in working capital
Changes in inventories		-88	-237
Changes in operating receivables		-90	-378
Changes in operating liabilities		109	275
CASH FLOW FROM OPERATING ACTIVITIES		1,117	524

INVESTING ACTIVITIES
Acquisition of property, plant and equipment		-85	-70
Disposal of property, plant and equipment		4	5
Acquisition of intangible non-current assets		-20	-23
Acquisition of operations, net liquidity effect	28	-431	-662
Disposal of operations, net liquidity effect	28	1	17
Change in financial assets		-1	8
CASH FLOW FROM INVESTING ACTIVITIES		-532	-725

FINANCING ACTIVITIES
Repurchase of treasury shares		-42	-38
Exercised, issued and repurchased call options		16	22
Borrowings	28	351	915
Repayments on loans	28	-326	-326
Amortisation leasing	28	-156	–
Other financing		-4	-1
Dividend paid to equity holders of the Parent Company		-336	-269
Dividend paid to non-controlling interests		-10	-9
CASH FLOW FROM FINANCING ACTIVITIES		-507	294

CASH FLOW FOR THE YEAR		78	93

Cash and cash equivalents at beginning of year		295	192
Exchange differences on cash and cash equivalents		-10	10
CASH AND CASH EQUIVALENTS AT YEAR-END		363	295

ANNUAL REPORT 2019/2020

Consolidated cash flow statement

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