For ${\mathcal{C}}$ a factorisable and pivotal finite tensor category over an algebraically closed field of characteristic zero we show:

1. (1) ${\mathcal{C}}$ always contains a simple projective object;

2. (2) if ${\mathcal{C}}$ is in addition ribbon, the internal characters of projective modules span a submodule for the projective $\text{SL}(2,\mathbb{Z})$-action;

3. (3) the action of the Grothendieck ring of ${\mathcal{C}}$ on the span of internal characters of projective objects can be diagonalised;

4. (4) the linearised Grothendieck ring of ${\mathcal{C}}$ is semisimple if and only if ${\mathcal{C}}$ is semisimple.

Results (1)–(3) remain true in positive characteristic under an extra assumption. Result (1) implies that the tensor ideal of projective objects in ${\mathcal{C}}$ carries a unique-up-to-scalars modified trace function. We express the modified trace of open Hopf links coloured by projectives in terms of $S$-matrix elements. Furthermore, we give a Verlinde-like formula for the decomposition of tensor products of projective objects which uses only the modular $S$-transformation restricted to internal characters of projective objects. We compute the modified trace in the example of symplectic fermion categories, and we illustrate how the Verlinde-like formula for projective objects can be applied there.

We define a Grothendieck ring of varieties with actions of finite groups and show that the orbifold Euler characteristic and the Euler characteristics of higher orders can be defined as homomorphisms from this ring to the ring of integers. We describe two natural λ-structures on the ring and the corresponding power structures over it and show that one of these power structures is effective. We define a Grothendieck ring of varieties with equivariant vector bundles and show that the generalized (‘motivic’) Euler characteristics of higher orders can be defined as homomorphisms from this ring to the Grothendieck ring of varieties extended by powers of the class of the complex affine line. We give an analogue of the Macdonald type formula for the generating series of the generalized higher-order Euler characteristics of wreath products.