05/03/2023 | Press release | Distributed by Public on 05/03/2023 01:42
Consolidated income statement in summary | |||||||||
SEK, millions | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
Net sales | 1,970.5 | 1,972.9 | 1,520.9 | 1,644.7 | 1,695.3 | 1,575.9 | 1,190.9 | 1,033.7 | 1,011.4 |
Operating costs | -1,727.5 | -1,752.6 | -1,393.9 | -1,473.6 | -1,468.4 | -1,367.2 | -1,057.8 | -938.7 | -886.0 |
Depreciation of tangible fixed assets | -45.8 | -42.3 | -37.0 | -34.7 | -34.8 | -40.5 | -38.6 | -22.4 | -22.1 |
EBITA | 197.2 | 178.0 | 90.0 | 136.4 | 192.1 | 168.2 | 94.5 | 72.6 | 103.3 |
EBITA margin | 10.0% | 9.0% | 5.9% | 8.3% | 11.3% | 10.7% | 7.9% | 7.0% | 10.2% |
Amortization of intangible fixed assets | -42.7 | -46.4 | -39.9 | -31.8 | -31.2 | -35.9 | -25.1 | -7.1 | -7.1 |
EBIT | 154.5 | 131.6 | 50.1 | 104.6 | 160.9 | 132.3 | 69.4 | 65.5 | 96.2 |
Financial incomes | 4.2 | 11.6 | 16.3 | 66.5 | 0.5 | 16.9 | 3.8 | -0.2 | 4.5 |
Financial costs | -25.4 | -6.5 | -29.2 | -17.9 | -4.8 | -0.5 | -7.1 | -4.9 | -5.7 |
RESULT AFTER FINANCIAL ITEMS | 133.3 | 136.7 | 37.2 | 153.2 | 156.6 | 148.7 | 66.1 | 60.4 | 95.0 |
Taxes | -29.2 | -17.7 | -16.0 | -22.9 | -34.9 | -22.9 | -12.6 | -17.2 | -22.6 |
RESULT FOR THE PERIOD | 104.1 | 119.0 | 21.2 | 130.3 | 121.7 | 125.8 | 53.5 | 43.2 | 72.4 |
Result for the period attributable to shareholders in Parent Company | 99.8 | 118.0 | 19.0 | 129.0 | 119.0 | 128.0 | 52.8 | 40.9 | 68.8 |
Result for the period attributable to non-controlling interests' holdings | 4.3 | 1.0 | 2.2 | 1.3 | 2.7 | -2.2 | 0.7 | 2.3 | 3.6 |
Consolidated balance sheet in summary | |||||||||
SEK, millions | 3/31/23 | 12/31/22 | 9/30/22 | 6/30/22 | 3/31/22 | 12/31/21 | 9/30/21 | 6/30/21 | 3/31/21 |
Assets | |||||||||
Intangible fixed assets | 4,585.1 | 4,629.7 | 4,379.2 | 4,066.5 | 3,986.2 | 3,839.5 | 3,672.5 | 1,394.2 | 1,412.7 |
Tangible fixed assets | 717.1 | 723.9 | 504.6 | 500.0 | 252.8 | 290.7 | 341.4 | 213.5 | 236.7 |
Financial fixed assets | 10.3 | 11.4 | 10.8 | 6.7 | 18.5 | 17.0 | 18.2 | 15.2 | 15.7 |
Deferred tax assets | 108.1 | 106.5 | 105.0 | 96.8 | 96.0 | 96.8 | 24.6 | 17.8 | 18.1 |
Current assets | 1,682.6 | 1,636.5 | 1,586.2 | 1,470.5 | 1,445.7 | 1,240.0 | 1,231.1 | 873.5 | 845.7 |
Cash equivalents | 444.6 | 497.6 | 638.5 | 715.9 | 722.8 | 851.4 | 792.4 | 1,100.6 | 704.4 |
TOTAL ASSETS | 7,547.8 | 7,605.6 | 7,224.3 | 6,856.4 | 6,522.0 | 6,335.4 | 6,080.2 | 3,614.8 | 3,233.3 |
Equity and liabilities | |||||||||
Share capital | 27.4 | 27.4 | 27.4 | 27.4 | 27.4 | 27.4 | 27.4 | 21.6 | 19.8 |
Other paid-in capital and provisions | 2,945.1 | 2,976.1 | 2,920.5 | 2,888.6 | 2,883.1 | 2,832.0 | 3,079.3 | 716.1 | 791.3 |
Recognized profits, including profit for the year | 1,286.6 | 1,183.0 | 1,181.5 | 1,167.6 | 1,142.4 | 1,025.3 | 622.3 | 1,330.3 | 894.6 |
EQUITY ATTRIBUTABLE TO SHAREHOLDERS OF THE PARENT COMPANY | 4,259.1 | 4,186.5 | 4,129.4 | 4,083.6 | 4,052.9 | 3,884.7 | 3,729.0 | 2,068.0 | 1,705.7 |
Non-controlling interests | 24.6 | 21.2 | 7.5 | 0.2 | 10.3 | 7.7 | 12.6 | 11.8 | 18.9 |
TOTAL EQUITY | 4,283.7 | 4,207.7 | 4,136.9 | 4,083.8 | 4,063.2 | 3,892.4 | 3,741.6 | 2,079.8 | 1,724.6 |
Long-term provisions | 269.2 | 276.5 | 261.3 | 239.5 | 235.4 | 229.9 | 225.8 | 93.5 | 92.4 |
Interest-bearing long-term liabilities | 1,184.7 | 1,303.3 | 1,259.7 | 1,080.6 | 298.5 | 286.3 | 326.5 | 244.9 | 326.1 |
Interest-bearing short-term liabilities | 297.4 | 291.4 | 206.9 | 110.5 | 608.3 | 606.6 | 624.6 | 295.8 | 237.9 |
Other short-term liabilities | 1,512.8 | 1,526.7 | 1,359.5 | 1,342.0 | 1,316.6 | 1,320.2 | 1,161.7 | 900.8 | 852.3 |
TOTAL EQUITY AND LIABILITIES | 7,547.8 | 7,605.6 | 7,224.3 | 6,856.4 | 6,522.0 | 6,335.4 | 6,080.2 | 3,614.8 | 3,233.3 |
Consolidated cash flow analysis in summary | |||||||||
SEK, millions | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
Cash flow current operations before changes in working capital | 146.1 | 250.1 | 74.0 | 99.5 | 110.0 | 214.5 | 125.1 | 65.5 | 107.5 |
Change in operating capital | -39.6 | 69.3 | -54.0 | 31.2 | -104.8 | 52.8 | -58.6 | 9.0 | -53.0 |
CASH FLOW FROM OPERATING ACTIVITIES | 106.5 | 319.4 | 20.0 | 130.7 | 5.2 | 267.3 | 66.5 | 74.5 | 54.5 |
Cash flow from investing activities | -21.8 | -233.8 | -313.6 | -99.3 | -104.2 | -169.9 | -230.6 | -1.8 | -9.6 |
Cash flow from financing activities | -138.7 | -232.6 | 217.5 | -42.4 | -30.6 | -34.6 | -144.2 | 323.1 | -17.7 |
CASH FLOW FOR THE PERIOD | -54.0 | -147.0 | -76.1 | -11.0 | -129.6 | 62.8 | -308.3 | 395.8 | 27.2 |
Opening balance at start of period | 497.6 | 638.5 | 715.9 | 722.8 | 851.4 | 792.4 | 1,100.6 | 704.4 | 675.6 |
Exchange rate differences in cash equivalents | 1.0 | 6.1 | -1.3 | 4.1 | 1.0 | -3.8 | 0.1 | 0.4 | 1.6 |
CLOSING BALANCE AT END OF PERIOD | 444.6 | 497.6 | 638.5 | 715.9 | 722.8 | 851.4 | 792.4 | 1,100.6 | 704.4 |
Financial overview by business area | |||||||||
SEK, millions | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
SOLUTIONS | |||||||||
Net sales | 1,091.5 | 1,120.9 | 894.8 | 932.7 | 976.0 | 902.2 | 692.8 | 615.0 | 597.6 |
EBITA | 114.9 | 110.5 | 72.2 | 89.6 | 126.2 | 112.8 | 69.8 | 68.5 | 67.2 |
EBITA margin | 10.5% | 9.9% | 8.1% | 9.6% | 12.9% | 12.5% | 10.1% | 11.1% | 11.2% |
Numbers of employees at quarter end | 1,910 | 1,931 | 1,921 | 1,720 | 1,717 | 1,750 | 1,785 | 1,314 | 1,312 |
EXPERIENCE | |||||||||
Net sales | 447.0 | 431.9 | 338.7 | 401.5 | 413.2 | 365.6 | 270.8 | 333.3 | 337.2 |
EBITA | 60.1 | 48.4 | 21.4 | 38.8 | 59.3 | 42.3 | 14.3 | 33.5 | 41.7 |
EBITA margin | 13.4% | 11.2% | 6.3% | 9.7% | 14.3% | 11.6% | 5.3% | 10.0% | 12.4% |
Numbers of employees at quarter end | 987 | 1,000 | 1,002 | 960 | 959 | 929 | 934 | 875 | 868 |
CONNECTIVITY | |||||||||
Net sales | 304.1 | 287.5 | 247.5 | 259.4 | 246.0 | 229.4 | 185.9 | 34.0 | 30.1 |
EBITA | 34.8 | 34.7 | 29.0 | 25.4 | 29.4 | 25.3 | 17.1 | 3.2 | 2.7 |
EBITA margin | 11.4% | 12.1% | 11.7% | 9.8% | 12.0% | 11.0% | 9.2% | 9.4% | 9.0% |
Numbers of employees at quarter end | 774 | 773 | 757 | 740 | 676 | 659 | 677 | 40 | 34 |
INSIGHT | |||||||||
Net sales | 246.9 | 254.3 | 136.0 | 170.7 | 169.9 | 174.5 | 91.9 | 112.0 | 110.8 |
EBITA | 26.5 | 32.7 | -8.3 | 24.0 | 20.2 | 26.2 | 3.2 | 12.2 | 8.3 |
EBITA margin | 10.7% | 12.9% | -6.1% | 14.1% | 11.9% | 15.0% | 3.5% | 10.9% | 7.5% |
Numbers of employees at quarter end | 544 | 553 | 482 | 370 | 376 | 389 | 350 | 282 | 282 |
Financial overview by country | |||||||||
SEK, millions | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
SWEDEN | |||||||||
Net sales | 892.4 | 906.2 | 663.6 | 808.8 | 832.0 | 858.9 | 609.9 | 530.5 | 521.9 |
EBITA | 113.8 | 129.2 | 56.5 | 102.5 | 132.3 | 127.0 | 52.5 | 64.3 | 62.7 |
EBITA margin | 12.8% | 14.3% | 8.5% | 12.7% | 15.9% | 14.8% | 8.6% | 12.1% | 12.0% |
NORWAY | |||||||||
Net sales | 574.9 | 587.3 | 471.1 | 507.6 | 543.8 | 442.2 | 352.9 | 412.5 | 398.2 |
EBITA | 66.9 | 60.8 | 31.3 | 46.9 | 65.4 | 47.3 | 33.4 | 44.9 | 50.1 |
EBITA margin | 11.6% | 10.4% | 6.6% | 9.2% | 12.0% | 10.7% | 9.5% | 10.9% | 12.6% |
DANMARK | |||||||||
Net sales | 235.4 | 232.0 | 190.1 | 128.8 | 125.9 | 91.6 | 79.6 | 41.3 | 41.9 |
EBITA | 19.9 | 11.0 | 10.4 | 10.8 | 12.3 | 8.1 | 5.6 | 4.5 | 4.4 |
EBITA margin | 8.5% | 4.7% | 5.4% | 8.4% | 9.8% | 8.8% | 7.0% | 10.9% | 10.5% |
FINLAND | |||||||||
Net sales | 200.4 | 185.9 | 137.9 | 146.8 | 143.5 | 139.1 | 108.5 | 45.5 | 45.2 |
EBITA | 16.4 | 5.4 | 4.4 | 8.5 | 9.9 | 19.2 | 7.2 | 2.0 | 1.9 |
EBITA margin | 8.2% | 2.9% | 3.2% | 5.8% | 6.9% | 13.8% | 6.6% | 4.4% | 4.2% |
POLAND | |||||||||
Net sales | 62.1 | 54.7 | 52.2 | 47.7 | 45.1 | 39.8 | 36.4 | - | - |
EBITA | 7.5 | 6.2 | 6.9 | 4.0 | 5.2 | 3.8 | 3.9 | - | - |
EBITA margin | 12.1% | 11.3% | 13.3% | 8.4% | 11.5% | 9.5% | 10.7% | - | - |
Performance measures | |||||||||
Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 | |
Net sales, MSEK | 1,970.5 | 1,972.9 | 1,520.9 | 1,644.7 | 1,695.3 | 1,575.9 | 1,190.9 | 1,033.7 | 1,011.4 |
Adj EBITA, MSEK | 198.1 | 179.3 | 94.5 | 140.5 | 194.2 | 181.1 | 105.4 | 98.3 | 103.3 |
Adj EBITA margin, % | 10.1% | 9.1% | 6.2% | 8.5% | 11.5% | 11.5% | 8.8% | 9.5% | 10.2% |
EBITA, MSEK | 197.2 | 178.0 | 90.0 | 136.4 | 192.1 | 168.2 | 94.5 | 72.6 | 103.3 |
EBITA margin, % | 10.0% | 9.0% | 5.9% | 8.3% | 11.3% | 10.7% | 7.9% | 7.0% | 10.2% |
EBIT, MSEK | 154.5 | 131.6 | 50.1 | 104.6 | 160.9 | 132.3 | 69.4 | 65.5 | 96.2 |
Earnings per share, before and after dilution, SEK | 3.64 | 4.31 | 0.69 | 4.71 | 4.34 | 4.67 | 1.93 | 2.03 | 3.49 |
Cash flow from operating activities, MSEK | 106.5 | 319.4 | 20.0 | 130.7 | 5.2 | 267.3 | 66.5 | 74.5 | 54.5 |
Average number of employees | 4,181.9 | 4,179.3 | 3,926.1 | 3,679.2 | 3,645.2 | 3,625.7 | 3,541.3 | 2,415.8 | 2,419.3 |
3/31/23 | 12/31/22 | 9/30/22 | 6/30/22 | 3/31/22 | 12/31/21 | 9/30/21 | 6/30/21 | 3/31/21 | |
Equity ratio, % | 56.8% | 55.3% | 57.3% | 59.6% | 62.3% | 61.4% | 61.5% | 57.5% | 53.3% |
Number of employees at quarter end | 4,377 | 4,410 | 4,315 | 3,933 | 3,871 | 3,849 | 3,857 | 2,549 | 2,534 |