UPM Annual Report 2019
Balance sheet
Cash flow statement
EURm
NOTE
2019
2018
EURm
2019
2018
ASSETS Intangible assets Tangible assets
Cash flows from operating activities Profit before closing entries and tax Financial income and expenses Adjustments to operating profit 1)
10 11 12 12 12 12 12 12 13 14 14 14 14
45
36
793 -516
900 -312
1,599 3,077
1,646 4,136
Holdings in group companies
59
13
Holdings in participating interest companies
5 3
5 3
Change in working capital 2)
266
-238
Other shares and holdings
Interest received
47 -31
39
Receivables from group companies
864
646
Interest paid
-25 328
Receivables from participating interest companies
4 7
4 7
Dividends received Other financial items Income taxes paid Operating cash flow
534 -61 -45
Other non-current receivables
17
5,603
6,482
-103
Non-current assets
1,046
618
Inventories
206
267
Trade receivables
27
30
Cash flows from investing activities Investments in tangible and intangible assets
Receivables from group companies
944
1,180
-83
-79 -14 131 243
Receivables from participating interest companies
8
5
Investments in shares and holdings
-197
Other current receivables Cash and cash equivalents
52
75
Proceeds from sale of intangible and tangible assets Proceeds from disposal of shares and holdings
12
1,382 2,619
770
1,257
2,327
Change in other non-current receivables
-217 773
49
Current assets
329
Investing cash flow
8,223
8,809
Assets
Cash flows from financing activities Payments of non-current liabilities
-270 -238 -693
-269
EURm
NOTE
2019
2018
Change in current liabilities
118
EQUITY AND LIABILITIES Share capital
Dividends paid
-613
15 15 15 15 15
890 142
890 142
Group contributions, net
-6
-2
Revaluation reserve
-1,207
-765
Financing cash flow
Reserve for invested non-restricted equity
1,273 1,940
1,273 1,853
Retained earnings Profit for the period
612
182
Change in cash and cash equivalents
756
780
5,000
4,938
Equity
Cash and cash equivalents at beginning of period Change in cash and cash equivalents Cash and cash equivalents at end of period
770 612
589 182 770
440
446 101
Accumulated depreciation difference
1,382
16
49
Provisions
Bonds
17 17 17
334 115 172 621
328 385 167 879
1) Adjustments to operating profit EURm Depreciation, amortisation and impairment charges Capital gains and losses on sale of non-current assets
Payables to group companies Other non-current liabilities
2019
2018
111
117
Non-current liabilities
-2
-141
Change in provisions
-50
37 13
Advances received
18 18 18 18 18
1
—
59
Total
Trade payables
241
267
Payables from group companies
1,703
1,919
Payables from participating interest companies
—
1
2) Change in working capital EURm
Other current liabilities
168
258
2019
2018 -124 -184
2,112
2,445 3,324
Current liabilities
Inventories
60
2,733
Liabilities
Current receivables
260 -54 266
Current non-interest-bearing liabilities
69
8,223
8,809
Equity and liabilities
-238
Total
202
203
UPM ANNUAL REPORT 2019
UPM ANNUAL REPORT 2019
CONTENTS
ACCOUNTS
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS
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