25 Net debt
The development of the components of net debt is as follows.
|
|
Cash and cash equivalents |
|
Current investments |
|
Non-current borrowings |
|
Current borrowings |
|
Credit institutions |
|
Derivatives |
|
Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at 1 January 2021 |
|
871 |
|
43 |
|
(3,484) |
|
(49) |
|
(53) |
|
95 |
|
(2,577) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change from operating activities |
|
1,427 |
|
- |
|
(7) |
|
- |
|
- |
|
(66) |
|
1,354 |
Change from investing activities |
|
208 |
|
445 |
|
(9) |
|
(2) |
|
25 |
|
- |
|
667 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reclassification from non-current to current |
|
- |
|
- |
|
516 |
|
(516) |
|
- |
|
- |
|
- |
Transfers |
|
(522) |
|
- |
|
24 |
|
506 |
|
(12) |
|
4 |
|
- |
Dividend |
|
(266) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(266) |
Interest |
|
(65) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(65) |
Proceeds from reissued shares |
|
34 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
34 |
New/unwinding leases |
|
- |
|
- |
|
(19) |
|
- |
|
- |
|
- |
|
(19) |
Repurchase of shares |
|
(165) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(165) |
Other |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(4) |
|
(4) |
Change from financing activities |
|
(984) |
|
- |
|
521 |
|
(10) |
|
(12) |
|
- |
|
(485) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange differences |
|
39 |
|
1 |
|
(16) |
|
- |
|
(2) |
|
- |
|
22 |
Total changes |
|
690 |
|
446 |
|
489 |
|
(12) |
|
11 |
|
(66) |
|
1,558 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at 31 December 2021 |
|
1,561 |
|
489 |
|
(2,995) |
|
(61) |
|
(42) |
|
29 |
|
(1,019) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change from operating activities |
|
965 |
|
- |
|
(9) |
|
- |
|
- |
|
65 |
|
1,021 |
Change from investing activities |
|
876 |
|
(364) |
|
7 |
|
25 |
|
(5) |
|
- |
|
539 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reclassification from non-current to current |
|
- |
|
- |
|
40 |
|
(40) |
|
- |
|
- |
|
- |
Transfers |
|
(58) |
|
- |
|
17 |
|
18 |
|
21 |
|
2 |
|
- |
Dividend |
|
(345) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(345) |
Interest |
|
(52) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(52) |
Proceeds from reissued shares |
|
25 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
25 |
New/unwinding leases |
|
- |
|
- |
|
(34) |
|
- |
|
- |
|
- |
|
(34) |
Repurchase of shares |
|
(210) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(210) |
Other |
|
(5) |
|
- |
|
- |
|
- |
|
- |
|
(5) |
|
(10) |
Change from financing activities |
|
(645) |
|
- |
|
23 |
|
(22) |
|
21 |
|
(3) |
|
(626) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange differences |
|
(2) |
|
|
|
(4) |
|
(1) |
|
(1) |
|
6 |
|
(2) |
Total changes |
|
1,194 |
|
(364) |
|
17 |
|
2 |
|
15 |
|
68 |
|
932 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at 31 December 2022 |
|
2,755 |
|
125 |
|
(2,978) |
|
(59) |
|
(27) |
|
97 |
|
(87) |
In 2022, the gearing (net debt/equity plus net debt) was 0.8% (in 2021: 9.7%).
