AAK Annual Report 2020

AAK Annual Report 2020 61 SEK million Note Jan–Dec 2020 Jan–Dec 2019 OPERATING ACTIVITIES Operating profit 2,167 2,142 Depreciation and amortization 14, 15, 16 755 687 Other non-cash items 29 -137 246 Cash flow before interest and tax 2,785 3,075 Interest received and other financial income 18 26 Interest paid and other financial expenses -112 -148 Tax paid -712 -499 Cash flow before changes in working capital 1,979 2,454 Changes in inventory -470 -1,784 Changes in accounts receivables -190 86 Changes in accounts payables 631 540 Changes in other working capital items 73 262 Changes in working capital 44 -896 Cash flow from operating activities 2,023 1,558 INVESTING ACTIVITIES Acquisition of intangible assets -33 -14 Acquisition of property, plant and equipment -709 -787 Acquisition of operations and shares, net of cash acquired -412 -535 Proceeds from sale of property, plant and equipment 4 1 Cash flow from investing activities -1,150 -1,335 FINANCING ACTIVITIES Loans raised 29 1,555 1,878 Amortization of loans 29 -1,686 -1,287 Amortization of lease liability 16 -154 -122 New issue of shares 236 - Subscription warrants 15 - Dividends paid -536 -469 Cash flow from financing activities -570 0 Cash flow for the year 303 223 Cash and cash equivalents at beginning of year 982 737 Exchange rate difference for cash equivalents -85 22 Cash and cash equivalents at year-end 19 1,200 982  Consolidated Cash Flow Statement