Atlas Copco - Annual Report 1999

ATLAS COPCO GROUP
Cash Flow Statement
12 ATLAS COPCO 1999
Group Atlas Copco AB
Amounts in SEK m. 1999 1998 1999 1998
Operations
Operating profit 4,470 4,345 –11 –91
Depreciation and amortization 2,616 1,876 2 4
Capital gain/loss and other non-cash items –399 –268 –21 0
Operating cash surplus 6,687 5,953 –30 –87
Net financial income/expense –1,061 –718 1,267 1,423
Dividends from associated companies 2 83 – 81
Cash flow from equity hedge/other items –70 –191
Taxes paid –963 –965 –170 –199
Cash flow before change in working capital 4,595 4,162 1,067 1,218
Change in
Inventories 436 73
Operating receivables –760 –173 –179 107
Operating liabilities 344 –457 461 –183
Change in working capital 20 –557 282 –76
Cash flow from operations 4,615 3,605 1,349 1,142
Investments
Investments in tangible fixed assets Note B –3,281 –2,447 –3 –8
Sale of tangible fixed assets Note B 1,066 956 29 –
Company acquisitions/divestments Note C –13,894 –873 210 227
Other investments, net 13 35
Cash flow from investments –16,096 –2,329 236 219
Financing
Dividends paid –832 –787 –826 –780
New issue of shares 4,125 – 4,125 –
Change in interest-bearing liabilities Note C 7,378 –56 –5,068 –163
Cash flow from financing 10,671 –843 –1,769 –943
Cash flow after financing –810 433 –184 418
Liquid Funds
Liquid funds at beginning of year 2,118 1,613 525 107
Cash flow after financing –810 433 –184 418
Exchange-rate difference in liquid funds –22 72
Liquid funds at year-end 1,286 2,118 341 525