Year ended at 31 December | Notes | 2018 | 2019 |
|---|---|---|---|
Dividend income | 6.2.1 | 73 | 0 |
Other income | 1 | ||
Impairment Mail investments | 6.2.2 | (164) | (409) |
Salaries, pensions and social security contributions | 6.2.3 | (2) | 6 |
Other operating expenses | 2 | ||
Total operating expenses | (164) | (403) | |
Operating income | (90) | (403) | |
Interest and similar income | 0 | 1 | |
Interest and similar expenses | (17) | (7) | |
Net financial expense | 6.2.4 | (17) | (6) |
Profit/(loss) before income taxes | (107) | (409) | |
Income taxes | 6.2.5 | 5 | 0 |
Profit/(loss) for the year attributable to shareholders | (102) | (409) |
Year ended at 31 December | Notes | 2018 | 2019 |
|---|---|---|---|
Profit for the year attributable to shareholders | (102) | (409) | |
Actuarial gains/(losses) pensions, net of tax | 6.4.2 | 25 | 81 |
Pension asset ceiling/minimum funding requirement, net of tax | 6.4.2 | (2) | (65) |
Other comprehensive income that will not be reclassified to the income statement | 23 | 16 | |
Gains/(losses) on cashflow hedges, net of tax | 2 | ||
Other comprehensive income that may be reclassified to the income statement | 2 | ||
Total other comprehensive income for the year | 25 | 16 | |
Total comprehensive income for the year | (77) | (393) |
Year ended at 31 December | Notes | 2018 | 2019 |
|---|---|---|---|
Profit/(loss) before income taxes | (107) | (409) | |
Adjustments for: | |||
Impairment Mail investments | 164 | 409 | |
Share-based payments | 3 | 1 | |
Dividend income | (73) | 0 | |
Interest and similar income | 0 | (1) | |
Interest and similar expenses | 17 | 7 | |
Investment income | (56) | 6 | |
Pension liabilities | (4) | (12) | |
Other provisions | (3) | 0 | |
Changes in provisions | (7) | (12) | |
Changes in working capital | (4) | 3 | |
Cash used in operations | (7) | (2) | |
Interest paid | (19) | (4) | |
Income taxes received/(paid) | 8 | (32) | |
Net cash used in operating activities | 6.3.1 | (18) | (38) |
Dividend received | 73 | 0 | |
Interest received | 0 | 1 | |
Capital contribution paid | (117) | ||
Net cash from/(used in) investing activities | 6.3.2 | 73 | (116) |
Dividends paid | (63) | (71) | |
Financing related to Group companies | 206 | (71) | |
Proceeds from long-term borrowings | 296 | ||
Repayments of short-term borrowings | (198) | ||
Net cash from/(used in) financing activities | 6.3.3 | (55) | 154 |
Total change in cash and cash equivalents | 0 | 0 | |
Cash and cash equivalents at the beginning of the year | 0 | 0 | |
Total change in cash and cash equivalents | 0 | 0 | |
Cash and cash equivalents at the end of the year | 0 | 0 |
At 31 December | Notes | 2018 | 2019 |
|---|---|---|---|
Before proposed appropriation of profit | |||
Assets | |||
Investments in Mail | 6.4.1 | 3,075 | 2,783 |
Deferred tax assets | 6.2.5 | 0 | 0 |
Total non-current assets | 3,075 | 2,783 | |
Accounts receivable from Group companies | 6.4.3 | 25 | |
Other accounts receivable | 3 | 1 | |
Income tax receivable | 19 | ||
Cash and cash equivalents | 0 | 0 | |
Total current assets | 3 | 45 | |
Total assets | 3,078 | 2,828 | |
Equity and liabilities | |||
Issued share capital | 38 | 40 | |
Additional paid-in capital | 160 | 160 | |
Revaluation reserve investments in Mail | 2,168 | 1,759 | |
Other reserves | 345 | 602 | |
Retained earnings | (118) | (432) | |
Total shareholders' equity | 6.3.4 | 2,593 | 2,129 |
Provision for pension liabilities | 6.4.2 | 33 | |
Eurobonds | 6.4.4 | 398 | 695 |
Other provisions | 2 | 2 | |
Total non-current liabilities | 433 | 697 | |
Accounts payable to Group companies | 6.4.3 | 44 | |
Income tax payable | 7 | ||
Other current liabilities | 1 | 2 | |
Total current liabilities | 52 | 2 | |
Total equity and liabilities | 3,078 | 2,828 |
Issued share capital | Additional paid-in capital | Hedge reserves | Revaluation reserve | Other reserves | Retained earnings | Total shareholders' equity | |
|---|---|---|---|---|---|---|---|
Balance at 1 January 2018 | 36 | 160 | (2) | 2,332 | 205 | (1) | 2,730 |
Total comprehensive income | 2 | 23 | (102) | (77) | |||
Appropriation of net income | (48) | 48 | 0 | ||||
Final dividend previous year | 1 | (1) | (47) | (47) | |||
Interim dividend current year | 1 | (1) | (16) | (16) | |||
Share-based compensation | 2 | 1 | 3 | ||||
Reduction revaluation reserve | (164) | 164 | 0 | ||||
Balance at 31 December 2018 | 38 | 160 | 0 | 2,168 | 345 | (118) | 2,593 |
Total comprehensive income | 16 | (409) | (393) | ||||
Appropriation of net income | (166) | 166 | 0 | ||||
Final dividend previous year | 1 | (1) | (48) | (48) | |||
Interim dividend current year | 1 | (1) | (23) | (23) | |||
Share-based compensation | 2 | (1) | 1 | ||||
Reduction revaluation reserve | (409) | 409 | 0 | ||||
Other | (1) | (1) | |||||
Balance at 31 December 2019 | 40 | 160 | 0 | 1,759 | 602 | (432) | 2,129 |
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