SECURITAS AB Annual Report 2011
SECURITAS AB Annual Report 2011
SECURITAS AB Annual Report 2011
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72<br />
<strong>Annual</strong> <strong>Report</strong><br />
Consolidated financial statements<br />
Consolidated statement of cash flow<br />
MSEK Note <strong>2011</strong> 2010 2009<br />
Operations<br />
Operating income 2 973.0 3 470.3 3 612.3<br />
Adjustment for effect on cash flow from items affecting comparability 11 -23.7 -62.5 -12.0<br />
Adjustment for effect on cash flow from acquisition related costs 11 13.5 24.3 -28.2<br />
Reversal of depreciation 18, 19, 20 1 120.2 1 065.0 1 065.8<br />
financial items received 113.9 41.9 115.9<br />
financial items paid -589.0 -563.6 -597.5<br />
Current taxes paid -763.9 -735.1 -728.2<br />
Change in accounts receivable -722.6 -768.4 197.6<br />
Change in other operating capital employed -446.9 312.8 -556.4<br />
Cash flow from operations 1 674.5 2 784.7 3 069.3<br />
Investing activities<br />
Investments in non-current tangible and intangible assets -1 009.8 -901.9 -950.7<br />
Acquisition of subsidiaries 16 -1 702.0 -1 293.7 -723.6<br />
Cash flow from investing activities -2 711.8 -2 195.6 -1 674.3<br />
Financing activities<br />
Dividend paid to shareholders of the Parent Company -1 095.2 -1 095.2 -1 058.7<br />
Proceeds from bond loans 30 3 344.1 1 764.5 5 962.5<br />
Redemption of bond loans 30 -1 000.0 -459.5 –<br />
Proceeds from other long-term borrowings 30 516.1 – 2 288.3<br />
Repayment of other long-term borrowings 30 -2 041.8 -872.4 -4 524.2<br />
Change in other interest-bearing net debt excluding liquid funds 1 245.7 238.1 -5 443.4<br />
Cash flow from financing activities 968.9 -424.5 -2 775.5<br />
Cash flow for the year -68.4 164.6 -1 380.5<br />
Liquid funds at beginning of year 2 586.9 2 497.1 3 951.5<br />
Translation differences on liquid funds -11.1 -74.8 -73.9<br />
Liquid funds at year-end 28 2 507.4 2 586.9 2 497.1<br />
Supplementary information – Change in interest-bearing net debt in <strong>2011</strong><br />
MSEK<br />
Opening<br />
balance <strong>2011</strong><br />
Cash flow<br />
for the year<br />
Change<br />
in loans 1<br />
Revaluation<br />
of financial<br />
i nstruments<br />
Translation<br />
differences<br />
Closing<br />
balance <strong>2011</strong><br />
Liquid funds 2 586.9 -68.4 – – -11.1 2 507.4<br />
Other net debt -10 795.8 – -2 064.1 7.5 -3.8 -12 856.2<br />
Interest-bearing net debt -8 208.9 -68.4 -2 064.1 7.5 -14.9 -10 348.8<br />
1 Refers to the net effect of the proceeds from bond loans MSEK -3 344.1, redemption of bond loans MSEK 1 000.0, proceeds<br />
from other long-term borrowings MSEK -516.1, repayment of other long-term borrowings MSEK 2 041.8 and change in other<br />
interest-bearing net debt excluding liquid funds MSEK -1 245.7.<br />
Securitas <strong>Annual</strong> <strong>Report</strong> <strong>2011</strong>
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