Financial multi-year summary

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SEKm

2018

2017

2016

2015

2014

1)

2015 includes the sale of securities, SEK 970m.

2)

2018, 2017, 2016, 2015 and 2014 include items affecting comparability of SEK –1,375m, SEK –855m, SEK –2,645m, SEK –292m and SEK –1,009m.

3)

2015 does not include the sale of securities, SEK 970m.

4)

Calculation of average capital employed is based on five measurements.

5)

See definitions of key figures in Note A2.

6)

Dividend proposed by the Board of Directors.

INCOME STATEMENT

 

 

 

 

 

Net sales

118,500

109,265

101,238

98,519

87,997

Adjusted EBITA1)

12,935

13,405

11,992

10,603

9,495

Personal Care

6,354

5,937

4,283

3,997

3,528

Consumer Tissue

3,331

4,084

4,450

3,846

3,858

Professional Hygiene

3,841

4,004

3,836

3,497

2,918

Other operations2)

–591

–620

–577

–737

–809

EBITA

11,560

12,550

9,347

10,311

8,486

Amortization of acquisition-related intangible assets

–732

–560

–159

–133

–126

Items affecting comparability

–69

–85

–180

–494

0

Operating profit

10,759

11,905

9,008

9,684

8,360

Financial income3)

91

158

202

312

416

Financial expenses

–1,248

–1,340

–1,037

–1,140

–1,156

Profit before tax

9,602

10,723

8,173

8,856

7,620

Tax

–1,050

–1,938

–3,931

–2,278

–1,939

Profit for the period

8,552

8,785

4,242

6,578

5,681

 

 

 

 

 

 

BALANCE SHEET

 

 

 

 

 

Non-current assets (excl. financial receivables)

110,370

105,398

77,238

67,483

69,519

Receivables and inventories

38,646

34,664

29,917

29,171

28,207

Non-current assets held for sale

69

42

156

120

60

Financial receivables

1,751

1,700

1,052

766

2,849

Current financial assets

422

1,105

1,677

12,983

14,024

Cash and cash equivalents

3,008

4,107

4,244

4,828

3,806

Total assets

154,266

147,016

114,284

115,351

118,465

 

 

 

 

 

 

Equity

47,141

42,289

33,204

42,986

39,675

Non-controlling interests

7,758

7,281

6,376

5,289

5,250

Provisions

12,530

11,631

9,145

6,675

8,189

Interest-bearing debt

54,327

54,838

36,873

34,717

40,787

Operating and other non-interest bearing liabilities

32,510

30,977

28,686

25,684

24,564

Total liabilities and equity

154,266

147,016

114,284

115,351

118,465

 

 

 

 

 

 

Capital employed4)

107,575

90,167

73,145

70,115

66,866

Net debt, incl. pension liabilities

54,404

52,467

35,173

19,058

25,066

 

 

 

 

 

 

CASH FLOW STATEMENT

 

 

 

 

 

Operating cash flow

12,324

12,723

13,031

10,440

9,714

Cash flow from current operations

8,787

8,745

8,563

7,550

6,900

Cash flow before dividend

5,737

–19,372

359

5,328

4,981

Current capital expenditures

–4,357

–3,911

–4,222

–3,293

–2,861

Strategic capital expenditures, non-current assets

–2,424

–2,101

–2,033

–2,179

–1,632

Company acquisitions

–694

–26,045

–6,540

–92

–492

Divestments

68

29

369

49

205

 

 

 

 

 

 

KEY FIGURES5)

 

 

 

 

 

Equity/assets ratio, %

31

29

29

37

33

Interest coverage ratio

9.3

10.1

10.8

11.7

11.3

Debt payment capacity, incl. pension liabilities, %

25

26

29

65

40

Debt/equity ratio, incl. pension liabilities

0.99

1.06

0.89

0.39

0.56

Debt/equity ratio, excl. pension liabilities

0.92

0.99

0.76

0.34

0.45

Return on capital employed, %

10.8

13.9

12.8

13.8

12.5

Adjusted return on capital employed, %

12.0

14.9

16.4

15.1

14.2

Return on equity, %

16.1

19.8

9.3

13.9

13.3

EBITA margin, %

9.8

11.5

9.2

10.5

9.6

Adjusted EBITA margin, %

10.9

12.3

11.8

10.8

10.8

Operating margin, %

9.1

10.9

8.9

9.8

9.5

Adjusted operating margin, %

10.3

11.8

11.7

10.6

10.6

Net margin, %

7.2

8.0

4.2

6.7

6.5

Capital turnover rate

1.10

1.21

1.38

1.41

1.32

Operating cash flow per share, SEK

12.51

12.45

12.19

10.75

9.82

Earnings per share, SEK

11.23

11.56

5.41

8.73

7.42

Dividend per share, SEK

5.756)

5.75