The H&M group includes H&M, H&M HOME, COS, Weekday, Monki, & Other Stories, ARKET, Afound and Sellpy. With their own unique identities and profiles, our brands complement each other well. H&M offers a great variety of styles and trends with concepts within fashion and accessories, beauty and sportswear as well as interiors from H&M HOME. Selected stores, mainly at ARKET, have cafs with a focus on modern healthy food. In 2019 several of the brands launched new circular services to help customers achieve a sustainable lifestyle. We also increased our stake in Sellpy, a digital platform for selling second-hand items, making the H&M group the majority shareholder. SEKM 1 DECEMBER - 30 NOVEMBER 2019 2018 Operating activities Profit after financial items 17291 15639 Provisions for pensions 0 Depreciation 11051 9.671 Tax paid -3,700 -3098 Other 23 39 Cash flow from operating activities before changes in working capital 24,753 22,251 Cash flow from changes in working capital Current receivables 753 -567 Stoch-trade 273 -3.499 Current liabilities 3,207 3,112 CASH FLOW FROM OPERATING ACTIVITIES 28.986 21,287 Investing activities Investments in leasehold and similar rights -47 hvestments in other intang ble assets -2,909 -3.207 Investments in buildings and land 0 -5 Ihvestments in equipment -7,284 -9552 Other investments -188 -324 CASH FLOW FROM INVESTING ACTIVITIES -10,528 -13,152 Financing activities Shormarm loans -2249 -592 New loans 243 10,170 Finance lease amortisation -149 -126 Dividend -16,137 -16,137 CASH FLOW FROM FINANCING ACTIVITIES, NOTE 24 -18,292 -6,685 CASH FLOW FOR THE YEAR 166 1,450 Cash and cash equivalents at beginning of year 11,590 9.718 Cash flow for the year 166 1,450 Exchange rate effect 556 422 Cash and cash equivalents at year-end, note 18 12,312 11,590 Interested for the group at SEK 2.5 M07Receiverrust for the group mortato 56