N O TE 38 Financial fv e y ear o v er vie w 1 M SEK 2008 2009 2010 2011 2012 INC O ME T ot al sales 56 5716 62 6667 61 3398 64 0571 66 4582 of which acquired business 1 3237 1 4500 2 2423 5 0615 2 4184 A cquired sale s gro wth 3 3 4 8 4 Organic sale s gro wth 6 1 1 3 0 Real sale s gro wth 9 2 5 11 4 Oper atin g income before amortization 3 2707 3 7565 3 7242 3 3847 3 0855 Operating margin 58 60 61 53 46 Amortization and impairment of acquisition related int an g ible assets 1022 1383 1643 2182 2971 Acquisition related cos ts 526 59 896 1935 495 Items afectin g compar abilit y 293 4243 f inancial income and e xpenses 4696 5898 5023 4930 5730 Income before t ax es 2 6170 3 0225 2 9680 2 4800 1 7416 T ax es 7271 9045 8872 7414 5296 Net income for the y ear continuin g oper ations 1 8899 2 1180 2 0808 1 7386 1 2120 Net income for the y ear discontinued oper ations 4318 Net income for the y ear all oper ations 2 3217 2 1180 2 0808 1 7386 1 2120 whereof at tribut able to noncontrollin g interes ts continuin g oper ations 19 18 23 29 04 A v er a g e number of shares after dilution 000 365 059 365 059 365 059 365 059 365 059 Earnin g s per share after dilution continuin g oper ations SEK 518 580 571 475 332 CASH FL O W Oper atin g income before amortization 3 2707 3 7565 3 7242 3 3847 3 0855 In v es tments in noncurrent t an g ible and int an g ible assets 9770 9507 9019 1 0098 1 0392 R e v er sal of depreciation 8399 9275 9007 9020 9461 Chan g e in accounts receiv able 78 1976 7684 7226 2054 Chan g es in other oper atin g capit al emplo y ed 1073 5564 3128 4469 30 Cash fo w from oper atin g activities 3 2487 3 3745 3 2674 2 1074 3 2008 as o f operating income before amortiz ation 99 90 88 62 104 f inancial income and e xpenses paid 4334 4816 5217 4751 5319 Current t ax es paid 8035 7282 7351 7639 5833 F ree cash fo w continuin g oper ations 2 0118 2 1647 2 0106 8684 2 0856 as o f adjus t ed income 94 88 81 39 105 Cash fo w from in v es tin g activities acquisitions and div es titures 1 0215 7577 1 3590 1 8820 6773 Cash fo w from items afectin g compar abilit y 1108 120 625 237 1938 Cash fo w from fnancin g activities 1993 2 7755 4245 9689 1 2227 Cash fo w for the y ear continuin g oper ations 6802 1 3805 1646 684 2 4372 Cash fo w for the y ear discontinued oper ations 7905 Cash fo w for the y ear all oper ations 1103 1 3805 1646 684 2 4372 Interes t bearin g net debt at be g innin g of y ear 9 8780 9 4126 8 3877 8 2089 10 3488 Chan g e in loans 4696 1 7168 6707 2 0641 2 3179 R e v aluation of fnancial ins truments 1782 767 676 75 106 T r anslation diferences on interes t bearin g net debt 1 3131 6119 6173 149 3543 Impact from dividend of discontinued oper ations 2 5366 Interes t bearin g net debt at y ear end 9 4126 8 3877 8 2089 10 3488 9 8646 118 Securit as Annual R eport 2012 Annual R eport Notes and comments to the consolidated fnancial s t atements