Metsä Board Annual and sustainability report 2022

Consolidated cash flow statement

EUR million

Note

1–12/2022

1–12/2021

Cash flow from operating activities Result for the period

461.3 -63.0

314.0

Adjustments to the result, total

11.8

Interest received

2.4

0.1

Interest paid

-3.6 59.1 -6.4

-11.2 0.0 -3.6 -31.1 49.5

Dividends received

Other financial items, net

Income tax paid

-66.5 -151.4 232.0

Change in working capital

Net cash flow from operations

329.6

Cash flow from investing activities Acquisition of other shares

-13.6

Capital expenditure

-274.2

-213.7

Proceeds from disposal of shares in subsidiaries, net of cash

7.2

24.5 16.9 41.1 -0.1

Proceeds from disposal of other shares

0.2

Proceeds from sale of tangible and intangible assets

30.4

Change in non-current receivables, net

0.2

Net cash flow from investing

-205.3

-183.0

Cash flow from financing activities Changes in non-controlling interests

261.2

Proceeds from non-current interest bearing liabilities Payment of non-current interest bearing liabilities

60.9 -81.0

-7.2 -0.4 -0.4

Change in current liabilities

5.5

-0.5 2.4 -7.8

Change in non-current non-interest bearing liabilities, net

Acquisition of treasury shares

5.1

Dividend paid and capital distribution

-157.1 -183.1

-92.4 160.7

Net cash flow from financing

Change in cash and cash equivalents

-156.5

307.3

Cash and cash equivalents at beginning of period

524.2

214.0

Translation adjustments

-11.6

3.0

Change in cash and cash equivalents

-156.5 356.2

307.3 524.2

Cash and cash equivalents at end of period

5.4

Adjustments to the result, total Taxes

63.5 83.1

51.7 90.2

Depreciation, amortisation and impairment charges Share of result from associated companies and joint ventures

-163.1 -59.5

-114.4 -28.2

Gains and losses on sale of non-current assets

Finance costs, net

6.6 3.6 2.8

10.0 -0.7

Post-employment benefit obligations and provisions

Other adjustments

3.2

Adjustments to the result, total

-63.0

11.8

Change in working capital Inventories

-128.8

-19.3 -53.9 122.7 49.5

Accounts receivables and other receivables Accounts payable and other liabilities

-27.6

5.1

Change in working capital

-151.4

The notes are an integral part of these financial statements.

93

Consolidated financial statements | METSÄ BOARD ANNUAL AND SUSTAINABILITY REPORT 2022

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