Year ended at 31 December | Notes | 2020 | 2021 |
|---|---|---|---|
Dividend income | 200 | 200 | |
Reversal impairment/(impairment) investments in subsidiaries | 219 | 524 | |
Salaries, pensions and social security contributions | (35) | (74) | |
Other operating expenses | 1 | 0 | |
Total operating expenses | 185 | 450 | |
Operating income | 385 | 650 | |
Interest and similar income | 0 | 0 | |
Interest and similar expenses | (8) | (9) | |
Net financial expense | (8) | (9) | |
Profit/(loss) before income taxes | 377 | 641 | |
Income taxes | 11 | 21 | |
Profit/(loss) for the year attributable to shareholders | 388 | 662 |
Year ended at 31 December | Notes | 2020 | 2021 |
|---|---|---|---|
Profit for the year attributable to shareholders | 388 | 662 | |
Actuarial gains/(losses) pensions, net of tax | (21) | 605 | |
Pension asset ceiling/minimum funding requirement, net of tax | 46 | (551) | |
Other comprehensive income that will not be reclassified to the income statement | 25 | 54 | |
Total comprehensive income for the year | 413 | 715 |
At 31 December, before appropriation of profit | Notes | 2020 | 2021 |
|---|---|---|---|
Assets | |||
Investments in subsidiaries | 3,002 | 3,526 | |
Deferred tax assets | 3 | 0 | |
Total non-current assets | 3,004 | 3,526 | |
Accounts receivable from Group companies | 323 | 286 | |
Other accounts receivable | 2 | 2 | |
Income tax receivable | 0 | 101 | |
Total current assets | 326 | 389 | |
Total assets | 3,330 | 3,915 | |
Equity and liabilities | |||
Issued share capital | 40 | 41 | |
Additional paid-in capital | 161 | 163 | |
Revaluation reserve investments in subsidiaries | 1,978 | 2,502 | |
Other reserves | (22) | (188) | |
Retained earnings | 388 | 632 | |
Total shareholders' equity | 2,546 | 3,151 | |
Provision for pension liabilities | 81 | 64 | |
Eurobonds | 696 | 697 | |
Other provisions | 1 | 1 | |
Total non-current liabilities | 778 | 762 | |
Accounts payable to Group companies | 0 | 1 | |
Income tax payable | 5 | 0 | |
Other current liabilities | 1 | 1 | |
Total current liabilities | 6 | 2 | |
Total equity and liabilities | 3,330 | 3,915 |
Year ended at 31 December | Notes | 2020 | 2021 |
|---|---|---|---|
Profit/(loss) before income taxes | 377 | 641 | |
Adjustments for: | |||
Reversal impairment/(impairment) investments in subsidiaries | (219) | (524) | |
Share-based payments | 3 | 3 | |
Dividend income | (200) | (200) | |
Interest and similar income | 0 | (0) | |
Interest and similar expenses | 8 | 9 | |
Investment income | (192) | (191) | |
Pension liabilities | 113 | 54 | |
Other provisions | (0) | 0 | |
Changes in provisions | 112 | 54 | |
Changes in working capital | (2) | 0 | |
Cash used in operations | 80 | (17) | |
Interest paid | (6) | (6) | |
Income taxes received/(paid) | 25 | (101) | |
Net cash (used in)/from operating activities | 99 | (124) | |
Dividend received | 200 | 200 | |
Changes in accounts receivable from Group companies | (299) | 37 | |
Net cash (used in)/from investing activities | (99) | 237 | |
Dividends paid | 0 | (113) | |
Net cash (used in)/from financing activities | 0 | (113) | |
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 |
Issued share capital | Additional paid-in capital | Revaluation reserve | Other reserves | Retained earnings | Total shareholders' equity | |
|---|---|---|---|---|---|---|
Balance at 1 January 2020 | 40 | 160 | 1,759 | 602 | (432) | 2,129 |
Total comprehensive income | 25 | 388 | 413 | |||
Appropriation of net income | (432) | 432 | 0 | |||
Share-based compensation | 0 | 1 | 2 | 3 | ||
Addition revaluation reserve | 219 | (219) | 0 | |||
Balance at 31 December 2020 | 40 | 161 | 1,978 | (22) | 388 | 2,546 |
Total comprehensive income | 54 | 662 | 715 | |||
Appropriation of net income | 305 | (305) | 0 | |||
Final dividend previous year | 1 | (1) | (84) | (84) | ||
Interim dividend current year | 0 | (0) | (29) | (29) | ||
Share-based compensation | 0 | 3 | (0) | 3 | ||
Addition revaluation reserve | 524 | (524) | 0 | |||
Balance at 31 December 2021 | 41 | 163 | 2,502 | (188) | 632 | 3,151 |
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