Year ended at 31 December | Notes | 2018 | 2019 |
|---|---|---|---|
Revenue from contracts with customers | 2,758 | 2,829 | |
Other operating revenue | 14 | 15 | |
Total operating revenue | 2,772 | 2,844 | |
Other income | 21 | 12 | |
Cost of materials | (63) | (67) | |
Work contracted out and other external expenses | (1,308) | (1,330) | |
Salaries, pensions and social security contributions | (1,003) | (1,059) | |
Depreciation, amortisation and impairments | (83) | (180) | |
Other operating expenses | (151) | (101) | |
Total operating expenses | (2,608) | (2,737) | |
Operating income | 185 | 119 | |
Interest and similar income | 3 | 3 | |
Interest and similar expenses | (27) | (19) | |
Net financial income/(expense) | 2.2 | (24) | (16) |
Results from investments in JVs/associates | 3.7 | 0 | 0 |
Profit/(loss) before income taxes | 161 | 103 | |
Income taxes | 2.2 | (34) | (31) |
Profit/(loss) from continuing operations | 127 | 72 | |
Profit/(loss) from discontinued operations | 3.9 | (94) | (68) |
Profit for the year | 33 | 4 | |
Attributable to: | |||
Non-controlling interests | 0 | 0 | |
Equity holders of the parent | 33 | 4 |
2018 | 2019 | ||
|---|---|---|---|
Earnings per ordinary share1 | 2.2 | 7.1 | 0.8 |
Earnings per diluted ordinary share2 | 2.2 | 7.1 | 0.8 |
Earnings from continuing operations per ordinary share1 | 27.5 | 14.9 | |
Earnings from continuing operations per diluted ordinary share2 | 27.4 | 14.9 | |
Earnings from discontinued operations per ordinary share1 | (20.4) | (14.1) | |
Earnings from discontinued operations per diluted ordinary share2 | (20.3) | (14.1) |
Year ended at 31 December | Notes | 2018 | 2019 |
|---|---|---|---|
Profit for the year | 33 | 4 | |
Actuarial gains/(losses) pensions, net of tax | 3.5 | 32 | 60 |
Pension asset ceiling/minimum funding requirement, net of tax | 3.5 | (2) | (65) |
Impact tax rate change related to OCI pensions | (3) | 3 | |
Change in value of financial assets at fair value through OCI | 4.2 | 11 | 3 |
Other comprehensive income that will not be reclassified to the income statement | 38 | 1 | |
Currency translation adjustment, net of tax | 0 | 0 | |
Gains/(losses) on cashflow hedges, net of tax | 1 | (2) | |
Other comprehensive income that may be reclassified to the income statement | 1 | (2) | |
Total other comprehensive income for the year | 39 | (1) | |
Total comprehensive income for the year | 72 | 3 | |
Attributable to: | |||
Non-controlling interests | 0 | 0 | |
Equity holders of the parent | 72 | 3 |
Year ended at 31 December | Notes | 2018 | 2019 |
|---|---|---|---|
Profit/(loss) before income taxes | 161 | 103 | |
Adjustments for: | |||
Depreciation, amortisation and impairments | 83 | 180 | |
Share-based payments | 3 | 1 | |
(Profit)/loss on disposal of assets | (19) | (7) | |
(Profit)/loss on sale of Group companies | (5) | ||
Interest and similar income | (3) | (3) | |
Interest and similar expenses | 27 | 19 | |
Results from investments in JVs/associates | 0 | 0 | |
Investment income | 5 | 4 | |
Pension liabilities | (22) | (25) | |
Other provisions | (14) | 30 | |
Changes in provisions | (36) | 5 | |
Inventory | 0 | 0 | |
Trade accounts receivable | (40) | 55 | |
Other accounts receivable | 15 | (19) | |
Other current assets | 2 | (18) | |
Trade accounts payable | (24) | 20 | |
Other current liabilities excluding short-term financing and taxes | (75) | (73) | |
Changes in working capital | (122) | (35) | |
Cash generated from operations | 94 | 258 | |
Interest paid | (26) | (14) | |
Income taxes paid | (39) | (34) | |
Net cash (used in)/from operating activities | 2.3.1 | 29 | 210 |
Interest received | 3 | 3 | |
Acquisition of subsidiaries (net of cash) | (65) | ||
Disposal of subsidiaries | 3 | ||
Investments in JVs/associates | (2) | (1) | |
Disposal of JVs/associates | 1 | ||
Capital expenditure on intangible assets | (40) | (32) | |
Capital expenditure on property, plant and equipment | (55) | (34) | |
Proceeds from sale of property, plant and equipment | 46 | 14 | |
Changes in other loans receivable | 1 | 0 | |
Other changes in (financial) fixed assets | (1) | 5 | |
Net cash (used in)/from investing activities | 2.3.2 | (48) | (106) |
Dividends paid | (63) | (71) | |
Proceeds from long-term borrowings | 3 | 296 | |
Repayments of short-term borrowings | (223) | (64) | |
Repayments of leases | (2) | (62) | |
Net cash (used in)/from financing activities | 2.3.3 | (285) | 99 |
Total change in cash from continuing operations | (304) | 203 | |
Cash and cash equivalents at the beginning of the year | 645 | 269 | |
Cash transfers to/from discontinued operations | (72) | 8 | |
Total change in cash from continuing operations | (304) | 203 | |
Cash and cash equivalents at the end of the year | 269 | 480 | |
Total change in cash from discontinued operations | 3.9 | (52) | (3) |
Notes | At 31 December | At 31 December | |
|---|---|---|---|
Assets | |||
Goodwill | 97 | 224 | |
Other intangible assets | 115 | 140 | |
Intangible fixed assets | 3.3 | 212 | 364 |
Land and buildings | 322 | 272 | |
Plant and equipment | 155 | 119 | |
Other | 12 | 13 | |
Construction in progress | 5 | 10 | |
Property, plant and equipment | 3.2 | 494 | 414 |
Right-of-use assets | 3.4 | 259 | |
Investments in joint ventures/associates | 3.7 | 3 | 3 |
Other loans receivable | 4.1 | 6 | 6 |
Deferred tax assets | 3.8 | 66 | 65 |
Financial assets at fair value through OCI | 4.2 | 17 | 15 |
Financial fixed assets | 92 | 89 | |
Total non-current assets | 798 | 1,126 | |
Inventory | 5 | 4 | |
Trade accounts receivable | 3.1.1 | 313 | 271 |
Accounts receivable | 3.1.1 | 12 | 51 |
Income tax receivable | 2 | 1 | |
Prepayments and accrued income | 99 | 114 | |
Cash and cash equivalents | 4.1 | 269 | 480 |
Total current assets | 700 | 921 | |
Assets classified as held for sale | 3.9 | 200 | 91 |
Total assets | 1,698 | 2,138 | |
Equity and liabilities | |||
Equity attributable to the equity holders of the parent | 46 | (21) | |
Non-controlling interests | 3 | 3 | |
Total equity | 2.4 | 49 | (18) |
Deferred tax liabilities | 3.8 | 31 | 0 |
Provisions for pension liabilities | 3.5 | 296 | 283 |
Other provisions | 3.6 | 19 | 26 |
Long-term debt | 4.1 | 398 | 695 |
Long-term lease liabilities | 3.4 | 22 | 201 |
Accrued liabilities | 4 | 0 | |
Total non-current liabilities | 770 | 1,205 | |
Trade accounts payable | 146 | 197 | |
Other provisions | 3.6 | 21 | 53 |
Short-term debt | 4.1 | 1 | 1 |
Short-term lease liabilities | 3.4 | 3 | 63 |
Other current liabilities | 3.1.2 | 126 | 110 |
Income tax payable | 3 | 9 | |
Contract liabilities | 3.1.3 | 80 | 67 |
Accrued current liabilities | 3.1.4 | 378 | 351 |
Total current liabilities | 758 | 851 | |
Liabilities related to assets classified as held for sale | 3.9 | 121 | 100 |
Total equity and liabilities | 1,698 | 2,138 |
Issued share capital | Additional paid-in | Other | Retained | Attributable to equity holders of the parent | Non- controlling interests | Total | |
|---|---|---|---|---|---|---|---|
Balance at 1 January 2018 | 36 | 160 | 73 | (235) | 34 | 3 | 37 |
Total comprehensive income | 39 | 33 | 72 | 0 | 72 | ||
Appropriation of net income | (48) | 48 | 0 | 0 | |||
Final dividend previous year | 1 | (1) | (47) | (47) | (47) | ||
Interim dividend current year | 1 | (1) | (16) | (16) | (16) | ||
Share-based compensation | 2 | 1 | 3 | 3 | |||
Balance at 31 December 2018 | 38 | 160 | 65 | (217) | 46 | 3 | 49 |
Total comprehensive income | (1) | 4 | 3 | 0 | 3 | ||
Appropriation of net income | (166) | 166 | 0 | 0 | |||
Final dividend previous year | 1 | (1) | (48) | (48) | (48) | ||
Interim dividend current year | 1 | (1) | (23) | (23) | (23) | ||
Share-based compensation | 2 | (1) | 1 | 1 | |||
Balance at 31 December 2019 | 40 | 160 | (103) | (118) | (21) | 3 | (18) |
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