Year ended at 31 December | Notes | 2021 | 2022 excl. change in pension accounting classification | Change in pension accounting classification | Total 2022 |
|---|---|---|---|---|---|
Revenue from contracts with customers | 3,447 | 3,132 | 3,132 | ||
Other operating revenue | 19 | 13 | 13 | ||
Total operating revenue | 3,466 | 3,144 | 0 | 3,144 | |
Other income | 25 | 7 | 7 | ||
Cost of materials | (69) | (85) | (85) | ||
Work contracted out and other external expenses | (1,708) | (1,570) | (1,570) | ||
Salaries, pensions and social security contributions | (1,129) | (1,147) | (1,357) | (2,504) | |
Depreciation, amortisation and impairments | (149) | (156) | (156) | ||
Other operating expenses | (113) | (128) | (128) | ||
Total operating expenses | (3,168) | (3,085) | (1,357) | (4,442) | |
Operating income | 324 | 66 | (1,357) | (1,291) | |
Interest and similar income | 1 | 3 | 3 | ||
Interest and similar expenses | (22) | (22) | (22) | ||
Net financial income/(expense) | (21) | (19) | (19) | ||
Results from investments in JVs/associates | (0) | (1) | (1) | ||
Profit/(loss) before income taxes | 302 | 46 | (1,357) | (1,311) | |
Income taxes | (74) | (21) | 350 | 330 | |
Profit/(loss) from continuing operations | 228 | 26 | (1,007) | (981) | |
Profit/(loss) from discontinued operations | 29 | (11) | (11) | ||
Profit/(loss) for the year | 258 | 14 | (1,007) | (993) | |
Attributable to: | |||||
Non-controlling interests | 1 | 0 | 0 | ||
Equity holders of the parent | 257 | 14 | (1,007) | (993) |
Notes | 2021 | 2022 excl. change in pension accounting classification | Change in pension accounting classification | Total 2022 | |
|---|---|---|---|---|---|
Earnings per ordinary share1 | 50.9 | 2.8 | (204.4) | (201.6) | |
Earnings per diluted ordinary share2 | 50.8 | 2.8 | (204.0) | (201.2) | |
Earnings from continuing operations per ordinary share1 | 45.1 | 5.2 | (204.4) | (199.3) | |
Earnings from continuing operations per diluted ordinary share2 | 45.0 | 5.2 | (204.0) | (198.8) | |
Earnings from discontinued operations per ordinary share1 | 5.8 | (2.3) | 0.0 | (2.3) | |
Earnings from discontinued operations per diluted ordinary share2 | 5.8 | (2.3) | 0.0 | (2.3) |
Year ended at 31 December | Notes | 2021 | 2022 excl. change in pension accounting classification | Change in pension accounting classification | Total 2022 |
|---|---|---|---|---|---|
Profit/(loss) for the year | 258 | 14 | (1,007) | (993) | |
Actuarial gains/(losses) pensions, net of tax | 606 | 492 | 492 | ||
Pension asset ceiling/minimum funding requirement, net of tax | (551) | (435) | 1,020 | 585 | |
Change in value of financial assets at fair value through OCI | 12 | (8) | (8) | ||
Other comprehensive income that will not be reclassified to the income statement | 67 | 49 | 1,020 | 1,069 | |
Currency translation adjustment, net of tax | 1 | 0 | 0 | ||
Gains/(losses) on cashflow hedges, net of tax | 0 | 2 | 2 | ||
Other comprehensive income that may be reclassified to the income statement | 1 | 2 | 0 | 2 | |
Total other comprehensive income for the year | 68 | 52 | 1,020 | 1,071 | |
Total comprehensive income for the year | 325 | 66 | 13 | 79 | |
Attributable to: | |||||
Non-controlling interests | 1 | 0 | 0 | ||
Equity holders of the parent | 325 | 66 | 13 | 78 |
Year ended at 31 December | Notes | 2021 | 2022 |
|---|---|---|---|
Profit/(loss) before income taxes | 302 | (1,311) | |
Change in pension accounting classification | 1,357 | ||
Profit/(loss) before income taxes, excluding change in pension accounting classification | 302 | 46 | |
Adjustments for: | |||
Depreciation, amortisation and impairments | 149 | 156 | |
Share-based payments | 3 | 2 | |
(Profit)/loss on disposal of assets | (4) | (5) | |
(Profit)/loss on sale of Group companies | (16) | 0 | |
Interest and similar income | (1) | (3) | |
Interest and similar expenses | 22 | 22 | |
Results from investments in JVs/associates | 0 | 1 | |
Investment income | 2 | 15 | |
Pension liabilities | 53 | 47 | |
Other provisions | (2) | (3) | |
Changes in provisions | 51 | 44 | |
Inventory | (2) | (2) | |
Trade accounts receivable | (23) | 30 | |
Other accounts receivable | 5 | (2) | |
Other current assets | 11 | (11) | |
Trade accounts payable | 26 | 18 | |
Other current liabilities excluding short-term financing and taxes | 25 | (36) | |
Changes in working capital | 41 | (3) | |
Cash generated from operations | 547 | 259 | |
Interest paid | (21) | (20) | |
Income taxes received/(paid) | (76) | 1 | |
Net cash (used in)/from operating activities | 2.5.1 | 450 | 240 |
Interest received | 1 | 3 | |
Disposal of subsidiaries | 44 | 0 | |
Investments in JVs/associates | (3) | (2) | |
Capital expenditure on intangible assets | (56) | (80) | |
Capital expenditure on property, plant and equipment | (85) | (58) | |
Proceeds from sale of property, plant and equipment | 10 | 12 | |
Changes in other loans receivable | (3) | 3 | |
Other changes in (financial) fixed assets | (1) | 0 | |
Net cash (used in)/from investing activities | 2.5.2 | (92) | (122) |
Dividends paid | (113) | (165) | |
Share buyback | (164) | ||
Changes related to non-controlling interests | 0 | (1) | |
Repayments of short-term borrowings | (5) | (4) | |
Repayments of leases/incentives | (69) | (74) | |
Net cash (used in)/from financing activities | 2.5.3 | (186) | (408) |
Total change in cash from continuing operations | 172 | (290) | |
Cash and cash equivalents at the beginning of the year | 651 | 848 | |
Cash transfers relating to discontinued operations | 25 | (1) | |
Total change in cash from continuing operations | 172 | (290) | |
Cash and cash equivalents at the end of the year | 848 | 556 |
At 31 December | Notes | 2021 | 2022 |
|---|---|---|---|
Assets | |||
Goodwill | 207 | 207 | |
Other intangible assets | 147 | 182 | |
Intangible fixed assets | 354 | 389 | |
Land and buildings | 254 | 255 | |
Plant and equipment | 141 | 146 | |
Other equipment | 13 | 13 | |
Construction in progress | 25 | 44 | |
Property, plant and equipment | 433 | 457 | |
Right-of-use assets | 289 | 295 | |
Investments in joint ventures/associates | 6 | 7 | |
Loans receivable | 20 | 17 | |
Deferred tax assets | 11 | 9 | |
Financial assets at fair value through OCI | 28 | 20 | |
Financial fixed assets | 65 | 53 | |
Total non-current assets | 1,141 | 1,194 | |
Inventory | 5 | 7 | |
Trade accounts receivable | 4001 | 370 | |
Accounts receivable | 11 | 12 | |
Income tax receivable | 25 | 1 | |
Prepayments and accrued income | 431 | 76 | |
Cash and cash equivalents | 848 | 556 | |
Total current assets | 1,332 | 1,022 | |
Assets classified as held for sale | 11 | 6 | |
Total assets | 2,484 | 2,221 | |
Equity and liabilities | |||
Equity attributable to the equity holders of the parent | 426 | 177 | |
Non-controlling interests | 3 | 2 | |
Total equity | 429 | 179 | |
Deferred tax liabilities | 37 | 40 | |
Provisions for pension liabilities | 67 | 2 | |
Other provisions | 29 | 35 | |
Long-term debt | 697 | 697 | |
Long-term lease liabilities | 269 | 255 | |
Other long-term liabilities | 31 | 27 | |
Total non-current liabilities | 1,129 | 1,057 | |
Trade accounts payable | 168 | 182 | |
Other provisions | 21 | 15 | |
Short-term debt | 4 | 21 | |
Short-term lease liabilities | 65 | 75 | |
Other current liabilities | 111 | 168 | |
Income tax payable | 1 | 13 | |
Contract liabilities | 70 | 70 | |
Accrued current liabilities | 487 | 441 | |
Total current liabilities | 927 | 984 | |
Total equity and liabilities | 2,484 | 2,221 |
for more information.Issued share capital | Additional paid-in | Other | Retained | Attributable to equity holders of the parent | Non-controlling interests | Total | |
|---|---|---|---|---|---|---|---|
Balance at 1 January 2021 | 40 | 161 | (520) | 531 | 211 | 2 | 213 |
Total comprehensive income | 68 | 257 | 325 | 1 | 325 | ||
Appropriation of net income | 305 | (305) | 0 | 0 | |||
Final dividend previous year | 1 | (1) | (84) | (84) | (84) | ||
Interim dividend current year | 0 | (0) | (29) | (29) | (29) | ||
Share-based compensation | 0 | 3 | (0) | 3 | 3 | ||
Balance at 31 December 2021 | 41 | 163 | (148) | 370 | 426 | 3 | 429 |
Total comprehensive income | 1,071 | (993) | 78 | 0 | 79 | ||
Appropriation of net income | 518 | (518) | 0 | 0 | |||
Final dividend previous year | (114) | (114) | (114) | ||||
Interim dividend current year | (50) | (50) | (50) | ||||
Share buyback | (2) | (162) | (164) | (164) | |||
Share-based compensation | 2 | 2 | 2 | ||||
Other | 0 | 0 | (1) | (1) | |||
Balance at 31 December 2022 | 39 | 163 | 1,281 | (1,306) | 177 | 2 | 179 |
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