Financial information

Five-year overview

INCOME STATEMENT, SEK MILLION  2019 2018 2017 2016 2015
Net sales 20,404 19,305 17,293 14,792  14,206
Production costs -17,503 -16,502 -14,718 -12,562 -12,081
Gross profit/loss 2,901 2,803 2,575 2,230 2,124
Selling and administrative expenses -1,678 -1,596 -1,502 -1,286  -1,342
Operating profit/loss 1,224 1,207 1,072 944 782
Adjustments relating to specific costs - - 8 10 96
Adjusted operating profit/loss 1,224 1,207 1,080 954 878
Net financial items -73 -16 -54 -67 -360
Profit/Loss after financial items 1,151 1,191 1,019 877 422
Tax -267 -235 -199 -203 -135
Profit/loss for the period 884 956 820 674 287
BALANCE SHEET, SEK MILLION          
Goodwill 8,731 8,210 7,844 7,599 7,211
Right-of-use assets 1,029 - - - -
Other non-current assets 179 168 154 144 218
Current assets 5,599 5,211 4,523 3,933 3,394
Cash and cash equivalents 972 735 839 286 573
Total assets 16,510 14,324 13,360 11,962 11,396
Equity 5,596 5,238 4,662 4,079 3,555
Long-term loans 500 1,300 1,700 2,700 2,700
Other non-current liabilities 1,001 667 356 245 177
Lease liabilities 1,040 - - - -
Commercial paper 1,495 800 1,000 - -
Current liabilities 6,879 6,319 5,642 4,938 4,964
Total equity and liabilities 16,510 14,324 13,360 11,962 11,396
CASH FLOW, SEK MILLION          
Cash flow from operating activities 1,599 1,052 1,038 428 841
Cash flow from investing activities -503 -249 -231 -280 -262
Cash flow from financing activities -881 -914 -254 -504 -767
Cash flow for the period 215 -111 553 -356 -189
KEY FIGURES, SEK MILLION          
Operating margin, % 6.0 6.3 6.2 6.4 5.5
Adjusted operating margin, % 6.0 6.3 6.2 6.5 6.2
EBITA margin, % 6.0 6.3 6.2 6.4 5.5
Adjusted EBITA margin, % 6.0 6.3 6.3 6.5 6.2
Return on equity, % 16.1 18.7 18.3 17.5 8.4
Net debt -2,063 1,365 1,862 2,417 2,433
Capital structure (net borrowings/adj. EBITDA) 1.3 1.1 1.7 2.5 2.7
Cash conversion, % 115 102 106 61 125.0
Interest coverage, multiple 23.5 38.6 22.9 15.5 2.5
Equity/assets ratio, % 33.9 36.6 34.9 34.1 31.2
Order intake 22,534 20,652 17,972 15,990 14,249
Order backlog 14,485 11,992 10,271 8,644 7,092
Average no. of employees 11,722 11,475 10,643 9,730 9,359
Administration costs as % of sales 8.2 9.2 8.6 8.7 9.4
Working capital as % of sales -5.6 -4.9 -5.5 -5.8 -7.9
Basic earnings per share, SEK 4.36 4.73 4.07 3.34 1.42
Diluted earnings per share, SEK 4.35 4.72 4.06 3.34 1.42