Annual Report 2013 | Suomeksi |

 

 

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Additional cash flow information
Change in working capital
EUR million 2013 2012
Change in interest-free receivables, decrease(+)/increase(-) 123 -226
Change in inventories, decrease(+)/increase(-) 39 109
Change in interest-free liabilities, decrease(-)/increase(+) -39 -56
Total 123 -173
Positive effect from change in working capital during 2013, EUR 123 million (2012: -173) is mainly due to decrease in receivables.
Capital expenditure
EUR million Note 2013 2012
Capital expenditure 5, 18, 19 1,284 1,558
Change in not yet paid investments, decrease(+)/increase(-) 56 -56
Capitalised borrowing costs -69 -80
Capital expenditure in cash flow 1,271 1,422
Capital expenditure in intangible assets and property, plant and equipment in the balance sheet was EUR 1,284 million (2012: 1,558). Capital expenditure in cash flow EUR 1,271 million (2012: 1,422) is presented without not yet paid investments i.e. change in trade payables related to investments EUR -56 million (2012: 56) and capitalised borrowing costs EUR 69 million (2012: 80), which are presented in interest paid.
See also information about the investments by segments and countries in Note 5 Segment reporting
and the investment projects by segment in Note 19.2 Capital expenditure.
Acquisition of shares in cash flow
Acquisition of shares, net of cash acquired, amounted to EUR 15 million during 2013 (2012: 14).
Divestments of shares in cash flow
EUR million Note 2013 2012
Proceeds from sales of subsidiaries, net of cash disposed 8 22 223
Proceeds from sales of associates 20 100 13
Proceeds from available for sale financial assets 0 3
Total 122 239
Gross divestment of shares totalled EUR 142 million in 2013 (2012: 410) including interest-bearing debt in sold subsidiaries of EUR 22 million (2012: 181). Proceeds from divestments of shares totalled EUR 122 million in 2013 (2012: 239).
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