Annual Report 2008 - Skanska

Consolidated cash
flow statement
SEK M 2008 2007
Operating activities
Operating income 4,086 5,406
Adjustments for items not included in cash flow –930 –1,120
Income tax paid –1,535 –1,092
Cash flow from operating activities before
change in working capital 1,621 3,194
Cash flow from change in working capital
Investments in current-asset properties –10,661 –7,209
Divestments of current-asset properties 7,715 8,682
Changes in inventories and operating receivables 316 –2,307
Change in operating liabilities 1,563 6,739
Cash flow from change in working capital –1,067 5,905
Cash flow from operating activities 554 9,099
Investing activities
Acquisitions of businesses –5 –74
Investments in intangible assets –79 –38
Investments in property, plant and equipment –2,142 –1,894
Investments in Infrastructure Development assets –396 –73
Investments in shares –7 –40
Increase in interest-bearing receivables,
loans provided –3,098 –3,201
Disposals of businesses 2 192
Divestments of intangible assets 1 2
Divestments of property, plant and equipment 637 507
Divestments of Infrastructure Development assets 1,283 178
Divestments of shares 39 62
Decrease in interest-bearing receivables,
repayments of loans provided 2,100 1,986
Income tax paid –253 –53
Cash flow from investing activities –1,918 –2,446
Financing activities
Net interest items 331 370
Other financial items 129 –198
Borrowings 295 595
Repayment of debt –2,426 –951
Dividend paid –3,448 –3,453
Shares repurchased –271
Dividend to/Contribution from minority –48 –5
Income tax paid –138 –52
Cash flow from financing activities –5,576 –3,694
Cash flow for the year –6,940 2,959
Cash and cash equivalents, January 1 14,209 10,970
Reclassifications 400
Translation differences in cash and
cash equivalents 612 –120
Cash and cash equivalents, December 31 7,881 14,209
Change in interest-bearing net receivables
SEK M 2008 2007
Interest-bearing net receivables, January 1 14,581 10,377
Cash flow from operating activities 554 9,099
Cash flow from investing activities excluding
change in interest-bearing receivables –920 –1,231
Cash flow from financing activities excluding
change in interest-bearing liabilities –3,445 –3,338
Change in pension liability –2,433 113
Reclassifications –398
Net receivable/liability acquired/divested 39 4
Translation differences 889 99
Other items –35 –144
Interest-bearing net receivables, December 31 9,230 14,581
Consolidated operating cash flow statement
SEK M 2008 2007
Cash flow from business operations before
change in working capital and taxes paid 3,156 4,286
Change in working capital excluding currentasset
properties 1,879 4,432
Net investments in operations –3,630 –115
Cash flow adjustment, net investments 1 20 292
Taxes paid in business operations –1,788 –1,128
Cash flow from business operations –363 7,767
Net interest items and other net financial items 460 172
Taxes paid in financing items –138 –52
Cash flow from financing activities 322 120
Cash flow from operations
–41 7,887
Net strategic investments –3 118
Taxes paid on net strategic divestments 0 –17
Cash flow from strategic investments –3 101
Dividend etc. 2 –3,767 –3,458
Cash flow before changes in interest-bearing
receivables and liabilities –3,811 4,530
Change in interest-bearing receivables
and liabilities –3,129 –1,571
Cash flow for the year –6,940 2,959
1 Refers to payments made during the year in question
related to investments/divestments in prior
years, and unpaid investments/divestments related
to the year in question.
2 Of which, repurchases of shares –271
See also Note 35.
Skanska Annual Report 2008 Report of the Directors 71