## Financial statements 

55  Income statement 

55Statement of comprehensive income 

56  Statement of financial position 

57Statement of changes in equity 

59Statement of cash flows 

60Notes 

140 Parent Company 

160 Reports 

## 60 SECTION 1 OPERATING ACTIVITIES 

61 1.1 Business developments 

62 1.2 Revenue and segmentation of operations 

64 1.3 Operating expenses, inventory and deposit liability 

67 1.4 Foreign exchange risk related to earnings 

68 1.5 Cash flow from operating activities 

69 1.6 Trade receivables and on-trade loans 

## 72 SECTION 2 ASSET BASE AND RETURNS 

73 2.1 Return on invested capital 

74 2.2 Segmentation of assets 

75 2.3 Impairment 

80 2.4 Intangible assets and property, plant and equipment 

## 85 SECTION 3 SPECIAL ITEMS AND PROVISIONS 

85 3.1 Special items 

87 3.2 Provisions 

88 3.3 Contingent liabilities 

## 89 SECTION 4 FINANCING COSTS, CAPITAL STRUCTURE AND EQUITY 

90 4.1 Financial income and expenses 

91 4.2 Net interest-bearing debt 

92 4.3 Capital structure 

94 4.4 Borrowings and cash 

95 4.5 Foreign exchange risk related to net investments and financing activities 

98 4.6 Interest rate risk 

100 4.7 Liquidity risk 

102 4.8 Financial instruments 

104 4.9 Determination of fair value 

## 105 SECTION 5 ACQUISITIONS AND ASSOCIATES 

105 5.1 Acquisition of subsidiaries 

109 5.2 Impact from acquisitions 

109 5.3 Cash flow effect from acquisitions 

110 5.4 Non-controlling interests 

111 5.5 Associates 

112 5.6 Investments in proportionately consolidated entities 

## 113 SECTION 6 TAX 

113 6.1 Corporation tax 

115 6.2 Deferred tax 

## 117 SECTION 7 STAFF COSTS AND REMUNERATION 

117 7.1 Staff costs 

118 7.2 Remuneration 

119 7.3 Share-based payment 

124 7.4 Retirement benefit obligations and similar obligations 

## 127 SECTION 8 OTHER DISCLOSURE REQUIREMENTS 

127 8.1 Earnings per share 

128 8.2 Related party disclosures 

129 8.3 Fees to auditors 

129 8.4 Events after the reporting period 

## 130 SECTION 9 BASIS FOR PREPARATION 

130 9.1 Significant accounting estimates 

131 9.2 General accounting policies 

136 9.3 New legislation 

## 138 SECTION 10 GROUP COMPANIES 

