Financial data

Demand for ventilation solutions continues to expand globally, driven by economic growth and clear international trends. With a strong market position and sales to more than 130 countries around the world, Systemair can benefit from this growing market.

Full year Quarters Year to date 12 months rolling

SEK million	2022/23	2021/22	2020/21	2019/20	2018/19	2017/18	2016/17	2015/16	2014/15
Summary
Net sales	12,057.9	9,634.5	8,519.2	8,914.9	8,326.5	7,301.2	6,863.6	6,112.5	5,882.2
Growth, %	25.2	13.1	-4.4	7.1	14.0	6.4	12.3	3.9	11.1
Operating profit	1,401.4	769.8	676.7	625.7	528.1	349.6	439.0	344.1	376.8
Operating margin, %	11.6	8.0	7.9	7.0	6.3	4.8	6.4	5.6	6.4
Profit after financial items	1,294.9	741.7	564.0	543.7	458.0	333.2	410.2	307.3	380.4
Profit margin, %	10.7	7.7	6.6	6.1	5.5	4.6	6.0	5.0	6.5
Earnings per share, SEK	5.00	2.61	1.95	1.83	1.54	1.42	1.42	3.98	5.96
Earnings per share after full dilution, SEK	5.00	2.61	1.95	1.83	1.54	1.42	1.42	3.98	5.96
Income statements
Net sales	12,057.9	9,634.5	8,519.2	8,914.9	8,326.5	7,301.2	6,863.6	6,112.5	5,882.2
Cost of goods sold	-7,948.5	-6,315.6	-5,559.5	-5,831.3	-5,597.7	-4,887.2	-4,502.4	-4,010.4	-3,857.6
Gross profit	4,109.4	3,318.9	2,959.7	3,083.6	2,728.8	2,414.0	2,361.2	2,102.1	2,024.6
Other operating income	704.8	233.5	196.1	168.3	169.6	116.9	119.6	80.3	92.7
Selling expenses	-2,459.8	-2,077.5	-1,861.3	-1,987.5	-1,826.9	-1,652.7	-1,548.1	-1,399.8	-1,352.7
Administrative expenses	-575.4	-437.6	-427.8	-424.4	-389.2	-360.7	-365.1	-337.1	-313.9
Other operating expenses	-419.1	-267.5	-190.0	-214.3	-154.2	-167.9	-128.6	-101.4	-73.9
Net profit on monetary items	41.5
Operating profit	1,401.4	769.8	676.7	625.7	528.1	349.6	439.0	344.1	376.8
Net financial items	-106.5	-28.1	-112.7	-82.0	-70.1	-16.4	-28.8	-36.8	3.6
Profit before tax	1,294.9	741.7	564.0	543.7	458.0	333.2	410.2	307.3	380.4
Tax	-250.2	-197.4	-153.4	-158.4	-136.8	-103.1	-116.0	-100.1	-70.6
Profit for the period	1,044.7	544.3	410.6	385.3	321.2	230.1	294.2	207.2	309.8
Profit attributable to minority interests	5.1	0.4	4.4	3.8	-1.1	-0.4	0.0	0.0	0.0
Profit attributable to Parent Company's shareholders	1,039.6	543.9	406.2	381.5	322.3	230.5	294.2	207.2	309.8
Basic earning per share, SEK	5.0	2.6	1.9	1.8	1.6	1.1	1.4	4.0	6.0
Diluted earnings per share, SEK	5.0	2.6	1.9	1.8	1.6	1.1	1.4	4.0	6.0
Average number of shares during period, basic (thousand)	208,000	208,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000
Average number of shares during period, diluted (thousand)	208,063	208,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000
Balance sheets
Non-current assets
Goodwill	988.6	888.9	735.6	819.9	846.8	759.1	691.4	621.8	613.7
Other intangible assets	291.3	216.1	210.7	247.7	265.1	216.9	193.3	189.3	225.8
Tangible non-current assets	2,526.0	2,325.6	2,118.1	1,988.1	1,769.4	1,722.2	1,413.4	1,273.6	1,288.3
Financial non-current assets	179.9	193.6	237.5	254.9	267.6	240.4	200.6	180.5	180.0
Total non-current assets	3,985.8	3,624.2	3,301.9	3,310.6	3,148.9	2,938.6	2,498.7	2,265.2	2,307.8
Current Assets
Inventories	2,459.2	2,224.9	1,436.9	1,571.5	1,509.4	1,399.4	1,170.4	1,105.1	1,029.2
Current receivables	2,848.2	2,287.4	1,897.6	1,839.6	1,902.1	1,644.2	1,450.3	1,275.5	1,165.4
Cash & cash equivalents	339.9	335.9	319.1	378.2	250.4	212.8	241.8	176.9	187.8
Total current assets	5,647.3	4,848.2	3,653.6	3,789.3	3,661.9	3,256.4	2,862.5	2,557.5	2,382.4
Assets held for sale
Total assets	9,633.1	8,472.4	6,955.5	7,099.9	6,810.8	6,195.0	5,361.2	4,822.7	4,690.2
Equity and liabilities
Equity	5,272.5	3,853.5	3,330.1	3,084.7	2,839.2	2,620.3	2,381.3	2,108.2	2,082.2
Non-interst-bearing long-term liabilities	258.5	275.7	259.9	271.9	288.6	275.5	259.1	238.7	261.0
Interest-bearing long-term liabilities	671.6	1,230.8	1,051.5	1,119.8	1,070.0	690.7	319.3	196.7	245.4
Interest-bearing current liabilities	1,170.7	1,148.0	735.6	1,154.0	1,175.9	1,283.2	1,236.1	1,309.0	1,140.3
Non-interest-bearing current liabilities	2,259.8	1,964.4	1,578.4	1,469.5	1,437.1	1,325.3	1,165.4	949.8	961.3
Liabilities attritutable to available-for-sale assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total equity and liabilities	9,633.1	8,472.4	6,955.5	7,099.9	6,810.8	6,195.0	5,361.2	4,802.4	4,690.2
Cash flow statements in summary
Operating profit	1,401.4	769.8	676.7	625.7	528.1	349.6	439.0	344.1	376.8
Adjustments for non-cash items	113.4	354.5	391.5	349.9	193.1	220.4	158.4	143.8	199.5
Financial items	-77.7	-27.6	-27.5	-38.3	-32.3	-23.9	-22.4	-18.9	-20.7
Income tax paid	-214.5	-147.4	-182.7	-149.8	-152.9	-147.4	-128.7	-138.8	-121.5
Cash flow from operating activities before changes in working capital	1,222.6	949.3	858.0	787.5	536.0	398.7	446.3	330.2	434.1
Changes in working capital	-634.9	-714.1	135.9	56.8	-149.5	-174.4	18.2	-161.3	-192.8
Cash flow from operating activities	587.7	235.2	993.9	844.3	386.5	224.3	464.5	168.9	241.3
Cash flow from investing activities	318.6	-515.9	-448.3	-235.4	-320.9	-481.9	-281.3	-212.1	-297.0
Cash flow from financing activities	-959.5	274.9	-557.2	-461.1	161.8	218.8	-134.5	53.5	110.2
Cash flow for the period	-53.2	-5.8	-11.6	147.8	227.4	-38.8	48.7	10.3	54.5
Cash & cash equivalents at start of period	335.9	319.1	378.2	250.4	213.3	241.8	176.9	187.8	123.3
Translation differences in cash	57.2	22.6	-47.5	-20.0	4.2	9.8	16.2	-21.2	10.0
Cash & cash equivalents held for sale
Cash & cash equivalents at the end of period	339.9	335.9	319.1	378.2	444.9	212.8	241.8	176.9	187.8
Key ratios/Alternative performance measures
Number of employees
The number of employees at the end of the accounting period. New employees, appointments terminated, part-time employees and paid overtime are converted into full-time equivalents.
Number of employees	6,587	6,660	6,380	6,197	5,222	5,465	5,222
Return on equity
Profit after tax before non-controlling interest, for the trailing 12 months (TTM), divided by average equity excluding non-controlling interest.
Profit after tax before minority share, rolling 12 month	1,044.7	544.3	410.6	385.3	321.2	230.1	294.2
Average equity	4,620.9	3,598.2	3,166.3	3,065.1	2,710.7	2,479.9	2,333.0
Return on equity, %	22.6	15.1	13.0	12.6	11.9	9.3	12.6
Return on capital employed, %
Profit after financial income, for the trailing 12 months (TTM), divided by average capital employed.
Profit after financial income, rolling 12	1,479.0	835.6	673.7	639.8	557.4	390.4	464.7
Average capital employed	7,355.1	5,754.5	5,134.9	5,493.3	4,934.6	4,290.6	3,887.1
Return on capital employed, %	20.1	14.5	13.1	11.6	11.3	9.1	12.0
EBITDA
Operating profit before depreciation and amortization
Operating profit	1,401.4	769.8	676.7	625.7	528.1	349.6	439.0
Depreciation and amortization	568.3	408.4	399.8	405.4	233.3	219.6	186.7
EBITDA	1,969.7	1,178.2	1,076.5	1,031.1	761.4	569.2	625.7
Equity per share
Equity divided by the number of shares at the end of the period
Equity	5,265.6	3,815.1	3,305.0	3,064.8	2,839.2	2,620.3	2,381.3
Number of shares, thousand	208,000	208,000	52,000	52,000	52,000	52,000	52,000
Equity per share, SEK	25.3	18.3	63.6	58.9	54.6	50.4	45.8
Cash conversion
Operating profit before depreciation and amortization, rolling 12 months (TTM)	1,969.7	1,178.2	1,076.5	1,031.1	761.4	569.2	625.7
Non-cash provisions in working capital, rolling 12 months (TTM)	30.0	8.1	1.2	2.6	-8.0	-17.5	-14.1
Change in working capital, rolling 12 months (TTM)	-634.9	-714.1	135.9	56.7	-149.5	-173.9	18.2
Investments in machinery and equipment, rolling 12 months (TTM)	-325.7	-326.4	-432.9	-204.7	-226.3	-403.7	-182.7
Total	1,039.1	145.8	780.7	885.7	377.6	-25.9	447.1
Operating profit, rolling 12 months (TTM)	1,401.4	769.8	676.7	625.7	528.1	349.6	439.0
Cash conversion, %	74.1	18.9	115.4	141.6	71.5	-7.4	101.8
Net indebtedness
Interest-bearing liabilities + provision pensions reduced by cash and cash equivalents and short-term investments
Interest-bearing liabilities	1,842.3	2,378.9	1,787.1	2,273.7	2,245.8	1,978.5	1,583.9
Provisions for pensions	24.7	78.7	74.9	88.6	86.2	74.7	61.9
Cash and cash equivalents and short-term investments	343.7	339.3	321.7	381.6	251.4	215.5	245.0
Net indebtedness	1,523.3	2,118.4	1,540.3	1,980.7	2,080.6	1,837.7	1,400.8
Operating cash flow per share
Cash flow for the period from operating activities divided by the average number of shares during the period.
Cash flow for the period from operating activities	587.7	235.2	993.9	844.3	386.6	224.8	464.5
Number of shares, thousand	208,000	208,000	52,000	52,000	52,000	52,000	52,000
Operating cash flow per share, SEK	2.8	1.1	19.1	16.2	7.4	4.3	8.9
Organic growth
Change in sales by comparable units, adjusted for acquisitions and foreign currency effects.
Net sales for comparable units	11,168.8	9,599.8	9,101.0	8,428.3	7,853.1	7,107.6	6,580.4
Net sales previous year	9,634.5	8,519.2	8,914.9	8,326.5	7,301.2	6,863.6	6,112.5
Organic growth, %	15.9	12.7	2.1	1.2	7.6	3.6	7.7
Profit per share
Profit for the period attributable to the Parent Company's shareholders divided by the average number of shares during the period.
Profit attributable to the Parent Company's shareholders	1,039.6	543.9	406.2	381.5	322.3	230.5	294.2
Number of shares, thousand	208,000	208,000	52,000	52,000	52,000	52,000	52,000
Profit per share, SEK	5.0	2.6	7.8	7.3	6.2	4.4	5.7
Operating margin
Operating profit divided by net sales.
Operating profit	1,401.4	769.8	676.7	625.7	528.1	349.6	439.0
Net sales	12,057.9	9,634.5	8,519.2	8,914.9	8,326.5	7,301.2	6,863.6
Operating margin, %	11.6	8.0	7.9	7.0	6.3	4.8	6.4
Operating profit (EBIT)
Earnings before financial items and tax	1,401.4	769.8	676.7	625.7	528.1	349.6	439.0
Equity/assets ratio
Adjusted equity divided by total assets
Adjusted equity	5,265.6	3,853.5	3,330.1	3,084.7	2,839.2	2,620.3	2,381.3
Total assets	9,633.1	8,472.4	6,955.5	7,099.9	6,810.8	6,161.4	5,338.0
Equity/assets ratio, %	54.7	45.5	47.9	43.4	41.7	42.5	44.6
Capital employed
Total assets less non interest-bearing liabilities
Total assets	9,633.1	8,472.4	6,955.5	7,099.9	6,810.8	6,161.4	5,338.0
Non interest-bearing liabilities	2,472.3	2,197.5	1,795.6	1,710.4	1,682.6	1,524.9	1,372.8
Capital employed	7,160.8	6,274.9	5,159.9	5,389.5	5,128.2	4,636.5	3,965.2
Growth
Growth is defined as the change in net sales, relative to net sales for the preceding period
Net sales	12,057.9	9,634.5	8,519.2	8,914.9	8,326.5	7,301.2	6,863.8
Net sales previous year	9,634.5	8,519.2	8,914.9	8,326.5	7,301.2	6,863.6	6,112.5
Growth, %	25.2	13.1	-4.4	7.1	14.0	6.4	12.3
Profit margin
Profit after financial items divided by net sales
Profit after financial items	1,294.9	741.7	564.0	543.7	458.0	333.2	410.2
Net sales	12,057.9	9,634.5	8,519.2	8,914.9	8,326.5	7,301.2	6,863.8
Profit margin, %	10.7	7.7	6.6	6.1	5.5	4.6	6.0

SEK million	Q3 2023/24	Q2 2023/24	Q1 2023/24	Q4 2022/23	Q3 2022/23	Q2 2022/23	Q1 2022/23	Q4 2021/22	Q3 2021/22	Q2 2021/22	Q1 2021/22	Q4 2020/21	Q3 2020/21	Q2 2020/21	Q1 2020/21	Q4 2019/20	Q3 2019/20	Q2 2019/20	Q1 2019/20	Q4 2018/19	Q3 2018/19	Q2 2018/19	Q1 2018/19	Q4 2017/18	Q3 2017/18	Q2 2017/18	Q1 2017/18	Q4 2016/17	Q3 2016/17	Q2 2016/17	Q1 2016/17	Q4 2015/16	Q3 2015/16	Q2 2015/16	Q1 2015/16	Q4 2014/15	Q3 2014/15	Q2 2014/15	Q1 2014/15
Summary
Net sales	2,826.7	3,186.1	3,174.9	3,128.8	3,043.5	3,036.7	2,848.9	2,661.6	2,278.1	2,404.2	2,290.5	2,208.5	2,003.9	2,206.7	2,100.0	2,031.0	2,146.7	2,483.1	2,254.0	2,143.8	2,018.5	2,151.4	2,012.7	1,827.1	1,773.3	1,863.7	1,837.2	1,733.2	1,715.4	1,769.2	1,645.9	1,508.7	1,416.3	1,624.4	1,563.1	1,502.4	1,431.6	1,554.5	1,393.8
Growth, %	-7.1	4.9	11.4	17.6	33.6	26.3	24.4	20.5	13.7	9.0	9.1	8.7	-6.7	-11.1	-6.8	-5.3	6.4	15.4	12.0	17.3	13.8	15.4	9.6	5.4	3.4	5.3	11.6	14.9	21.1	8.9	5.3	0.4	-1.1	4.5	12.1	19.4	10.3	9.9	5.2
Operating profit	73.0	322.1	334.9	734.5	277.5	119.8	269.6	191.4	131.3	237.5	209.6	173.1	108.0	213.5	182.1	56.3	112.6	283.9	173.0	114.1	80.1	188.9	144.9	5.2	67.7	143.9	132.9	47.7	105.1	153.2	133.0	62.2	30.1	134.3	117.5	55.1	54.1	156.3	111.4
Operating margin, %	2.6	10.1	10.5	23.5	9.1	3.9	9.5	7.2	5.8	9.9	9.2	7.8	5.4	9.7	8.7	2.8	5.2	11.4	7.7	5.3	4.0	8.8	7.2	0.3	3.8	7.7	7.2	2.8	6.1	8.7	8.1	4.1	2.1	8.3	7.5	3.7	3.8	10.1	8.0
Profit after financial items	10.7	306.7	316.9	701.8	218.4	109.5	265.8	196.8	129.0	209.6	206.2	158.0	100.7	189.8	115.5	9.7	93.1	263.9	177.0	96.4	74.3	177.8	109.5	30.7	52.8	143.7	106.0	43.2	75.2	156.4	135.3	51.8	25.4	118.7	111.5	50.7	60.5	156.6	112.7
Profit margin, %	0.4	9.6	10.0	22.4	7.2	3.6	9.3	7.4	5.7	8.7	9.0	7.2	5.0	8.6	5.5	0.5	4.3	10.6	7.9	4.5	3.7	8.3	5.4	1.7	3.0	7.7	5.8	2.5	4.4	8.8	8.2	3.4	1.8	7.3	7.1	3.4	4.2	10.1	8.1
Earnings per share, SEK	-0.12	1.18	1.17	2.96	0.79	0.21	1.04	0.66	0.47	0.74	0.75	0.55	0.33	0.68	0.39	-0.01	0.30	0.93	0.61	0.38	0.21	0.61	0.35	0.06	0.20	0.49	0.36	0.14	0.25	0.56	0.48	0.13	0.06	0.41	0.39	0.56	0.84	2.24	2.31
Earnings per share after full dilution, SEK	-0.12	1.18	1.17	2.96	0.79	0.21	1.04	0.66	0.47	0.74	0.75	0.55	0.33	0.68	0.39	-0.01	0.30	0.93	0.61	0.38	0.21	0.61	0.35	0.06	0.20	0.49	0.36	0.14	0.25	0.56	0.48	0.13	0.06	0.41	0.39	0.56	0.84	2.24	2.31
Income statements
Net sales	2,826.7	3,186.1	3,174.9	3,128.8	3,043.5	3,036.7	2,848.9	2,661.6	2,278.1	2,404.2	2,290.5	2,208.5	2,003.9	2,206.7	2,100.0	2,031.0	2,146.7	2,483.1	2,254.0	2,143.8	2,018.5	2,151.4	2,012.7	1,827.1	1,773.3	1,863.7	1,837.2	1,733.2	1,715.4	1,769.2	1,645.9	1,508.7	1,416.3	1,624.4	1,563.1	1,502.4	1,431.6	1,554.5	1,393.8
Cost of goods sold	-1,868.8	-2,107.6	-2,076.1	-2,057.5	-2,001.3	-2,026.7	-1,863.1	-1,753.8	-1,519.3	-1,548.5	-1,493.7	-1,421.1	-1,331.2	-1,413.8	-1,393.4	-1,329.1	-1,421.8	-1,593.4	-1,486.9	-1,440.9	-1,375.2	-1,419.8	-1,361.7	-1,236.8	-1,187.9	-1,232.3	-1,230.2	-1,147.0	-1,137.0	-1,145.8	-1,072.7	-994.9	-938.6	-1,050.1	-1,026.9	-998.8	-950.8	-985.8	-922.2
Gross profit	957.9	1,078.5	1,098.8	1,071.3	1,042.2	1,010.0	985.8	907.8	758.8	855.7	796.8	787.4	672.7	792.9	706.6	701.9	724.9	889.7	767.1	702.9	643.3	731.6	651.0	590.3	585.4	631.4	607.0	586.2	578.4	623.4	573.2	513.8	477.7	574.3	536.2	503.6	480.8	568.7	471.6
Other operating income	40.3	80.6	99.7	527.7	43.4	81.6	52.1	67.3	91.5	48.0	26.6	40.2	44.4	35.7	75.9	64.4	31.2	46.1	26.8	38.2	34.1	56.9	40.3	30.7	34.3	23.0	28.8	34.0	39.5	24.7	21.4	24.0	17.4	20.8	18.1	37.1	25.1	5.8	24.7
Selling expenses	-640.7	-653.7	-632.7	-643.7	-632.3	-613.8	-570.0	-561.3	-528.0	-505.1	-483.1	-475.2	-465.7	-463.0	-457.4	-498.3	-503.9	-509.0	-476.4	-490.0	-458.6	-449.3	-429.1	-453.5	-420.7	-392.1	-386.4	-430.9	-401.8	-372.6	-342.9	-364.1	-352.6	-348.4	-334.7	-387.9	-335.9	-325.3	-303.6
Administrative expenses	-142.9	-142.9	-155.8	-153.8	-153.2	-135.5	-132.9	-121.0	-111.9	-105.5	-99.2	-114.8	-104.6	-102.5	-105.9	-106.8	-111.9	-102.6	-103.2	-106.1	-104.5	-91.4	-87.2	-96.4	-98.6	-82.9	-82.7	-101.2	-95.0	-86.7	-82.3	-87.4	-87.4	-82.9	-79.4	-85.1	-85.0	-77.3	-66.5
Other operating expenses	-172.4	-74.3	-77.6	-56.8	-40.6	-256.2	-65.4	-101.4	-79.1	-55.6	-31.5	-64.5	-38.8	-49.6	-37.1	-104.9	-27.7	-40.3	-41.3	-30.9	-34.2	-58.9	-30.1	-65.9	-32.7	-35.5	-33.8	-40.4	-16.0	-35.6	-36.4	-24.1	-25.0	-29.5	-22.7	-12.6	-30.9	-15.6	-14.8
Net profit on monetary items	30.8	33.9	2.5	-10.2	18.0	33.7
Operating profit	73.0	322.1	334.9	734.5	277.5	119.8	269.6	191.4	131.3	237.5	209.6	173.1	108.0	213.5	182.1	56.3	112.6	283.9	173.0	114.1	80.1	188.9	144.9	5.2	67.7	143.9	132.9	47.7	105.1	153.2	133.0	62.2	30.1	134.3	117.5	55.1	54.1	156.3	111.4
Net financial items	-62.3	-15.4	-18.0	-32.7	-59.1	-10.3	-3.8	5.4	-2.3	-27.9	-3.4	-15.1	-7.3	-23.7	-66.6	-46.6	-19.5	-20.0	4.0	-17.7	-5.8	-11.1	-35.4	25.5	-14.9	-0.2	-26.9	-4.5	-29.9	3.2	2.3	-10.4	-4.7	-15.6	-6.0	-4.4	6.4	0.3	1.3
Profit before tax	10.7	306.7	316.9	701.8	218.4	109.5	265.8	196.8	129.0	209.6	206.2	158.0	100.7	189.8	115.5	9.7	93.1	263.9	177.0	96.4	74.3	177.8	109.5	30.7	52.8	143.7	106.0	43.2	75.2	156.4	135.3	51.8	25.4	118.7	111.5	50.7	60.5	156.6	112.7
Tax	-34.8	-60.7	-74.6	-83.2	-48.2	-70.1	-48.7	-57.9	-34.2	-55.8	-49.4	-41.7	-29.8	-48.4	-33.5	-11.6	-28.6	-69.6	-48.5	-18.3	-29.5	-51.5	-37.5	-19.2	-11.2	-42.3	-30.4	-14.5	-24.4	-41.2	-35.8	-24.1	-12.4	-33.0	-30.8	-21.5	-16.8	-40.0	7.5
Profit for the period	-24.1	246.0	242.3	618.6	170.2	39.4	217.1	138.9	94.8	153.8	156.8	116.3	70.9	141.4	82.0	-1.9	64.5	194.3	128.5	78.1	44.8	126.3	72.0	11.5	41.6	101.4	75.6	28.7	50.8	115.2	99.5	27.7	13.0	85.7	80.7	29.2	43.7	116.6	120.2
Profit attributable to minority interests	0.8	1.3	-1.6	1.9	6.1	-3.8	0.7	1.1	-2.9	0.4	1.7	1.0	2.3	0.8	0.3	-0.8	1.9	0.9	1.8	-1.4	0.5	0.4	-0.5	-0.4
Profit attributable to Parent Company's shareholders	-24.9	244.7	243.9	616.7	164.1	43.2	216.4	137.8	97.7	153.4	155.1	115.3	68.6	140.6	81.7	-1.1	62.6	193.4	126.7	79.5	44.3	125.9	72.5	11.9	41.6	101.4	75.6	28.7	50.8	115.2	99.5	27.7	13.0	85.7	80.7	29.2	43.7	116.6	120.2
Basic earning per share, SEK	-0.1	1.2	1.2	3.0	0.8	0.2	1.0	0.7	0.5	0.7	0.8	0.6	0.3	0.7	0.4	0.0	0.3	0.9	0.6	0.4	0.2	0.6	0.3	0.1	0.2	0.5	0.4	0.1	0.2	0.6	0.5	0.1	0.1	0.4	0.4	0.1	0.2	0.6	0.6
Diluted earnings per share, SEK	-0.1	1.2	1.2	3.0	0.8	0.2	1.0	0.7	0.5	0.7	0.8	0.6	0.3	0.7	0.4	0.0	0.3	0.9	0.6	0.4	0.2	0.6	0.3	0.1	0.2	0.5	0.4	0.1	0.2	0.6	0.5	0.1	0.1	0.4	0.4	0.1	0.2	0.6	0.6
Average number of shares during period, basic (thousand)	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000
Average number of shares during period, diluted (thousand)	208,105	208,065	208,149	208,154	208,096	208,000	208,000	208,000	208,000	208,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000
Balance sheets
Non-current assets
Goodwill	981.9	1,027.6	1,002.6	988.6	945.1	924.3	972.7	888.9	802.5	761.9	765.3	735.6	767.6	766.9	774.1	819.9	873.0	874.3	856.4	846.8	847.3	753.9	737.7	759.1	724.4	728.0	708.9	691.4	676.4	723.6	645.7	621.8	624.8	642.2	619.7	613.7	589.2	586.1	553.4
Other intangible assets	275.9	295.4	292.6	291.3	289.7	296.1	310.9	216.1	191.4	195.1	209.7	210.7	223.7	214.9	225.3	247.7	238.6	252.7	252.6	265.1	238.6	208.1	190.0	216.9	185.1	200.3	204.9	193.3	196.1	192.7	188.4	189.3	194.4	205.5	221.8	225.8	231.0	241.7	249.7
Tangible non-current assets	2,568.9	2,740.9	2,577.2	2,526.0	2,491.7	2,476.7	2,516.4	2,325.6	2,334.6	2,238.9	2,164.8	2,118.1	2,024.1	1,979.9	1,949.6	1,988.1	2,065.0	2,109.2	2,087.5	1,769.4	1,745.3	1,732.6	1,730.0	1,722.2	1,601.4	1,538.4	1,462.3	1,413.4	1,377.8	1,395.2	1,306.5	1,273.6	1,284.2	1,294.1	1,291.6	1,288.3	1,226.3	1,189.3	1,141.8
Financial non-current assets	256.7	209.4	188.1	179.9	213.7	211.2	206.8	193.6	234.5	223.3	221.2	237.5	264.3	263.7	257.9	254.9	244.5	228.0	257.9	267.6	253.1	257.2	253.7	240.4	222.1	201.9	201.9	200.6	202.1	199.8	174.7	180.5	182.1	175.2	179.1	180.0	169.7	162.4	166.9
Total non-current assets	4,083.4	4,273.3	4,060.5	3,985.8	3,940.2	3,908.3	4,006.8	3,624.2	3,563.0	3,419.2	3,361.0	3,301.9	3,279.7	3,225.4	3,206.9	3,310.6	3,421.1	3,464.2	3,454.4	3,148.9	3,084.3	2,951.8	2,911.4	2,938.6	2,733.0	2,668.6	2,578.0	2,498.7	2,452.4	2,511.3	2,315.3	2,265.2	2,285.5	2,317.0	2,312.2	2,307.8	2,216.2	2,179.5	2,111.8
Current Assets
Inventories	2,146.0	2,411.7	2,477.4	2,459.2	2,490.4	2,527.5	2,543.9	2,224.9	1,968.9	1,744.9	1,634.7	1,436.9	1,357.5	1,378.1	1,430.9	1,571.5	1,489.2	1,544.9	1,544.7	1,509.4	1,473.4	1,437.7	1,414.1	1,399.4	1,241.4	1,181.5	1,138.9	1,170.4	1,132.3	1,150.1	1,132.8	1,105.1	1,049.4	1,030.5	1,030.4	1,029.2	980.6	965.1	930.0
Current receivables	2,604.9	2,962.5	2,879.4	2,848.2	2,526.7	2,610.5	2,613.1	2,287.4	2,009.2	2,031.8	1,896.7	1,897.6	1,757.8	1,953.3	1,821.8	1,839.6	1,919.3	2,201.7	1,958.1	1,902.1	1,746.6	1,897.6	1,663.1	1,644.2	1,439.9	1,582.2	1,473.8	1,450.3	1,283.8	1,499.8	1,387.1	1,255.2	1,204.9	1,323.5	1,256.8	1,165.4	1,084.5	1,224.6	1,014.3
Cash & cash equivalents	416.6	428.7	429.1	339.9	334.4	332.2	311.3	335.9	327.7	359.3	348.0	319.1	324.0	344.1	307.9	378.2	328.0	321.0	301.4	250.4	256.2	431.9	234.3	212.8	194.9	208.3	270.0	241.8	212.9	229.3	236.6	176.9	198.6	242.3	214.6	187.8	158.8	188.7	179.0
Total current assets	5,167.5	5,802.9	5,785.9	5,647.3	5,351.5	5,470.2	5,468.3	4,848.2	4,305.8	4,136.0	3,879.4	3,653.6	3,439.3	3,675.5	3,560.6	3,789.3	3,736.5	4,067.6	3,804.2	3,661.9	3,476.2	3,767.2	3,311.5	3,256.4	2,876.2	2,972.0	2,882.7	2,862.5	2,629.0	2,879.2	2,756.5	2,537.2	2,452.9	2,596.3	2,501.8	2,382.4	2,223.9	2,378.4	2,123.3
Assets held for sale					865.4	832.9				7.0
Total assets	9,250.9	10,076.2	9,846.4	9,633.1	10,157.1	10,211.4	9,475.1	8,472.4	7,868.8	7,562.2	7,240.4	6,955.5	6,719.0	6,900.9	6,767.5	7,099.9	7,157.6	7,531.8	7,258.6	6,810.8	6,560.5	6,719.0	6,222.9	6,195.0	5,609.2	5,640.6	5,460.7	5,361.2	5,081.4	5,390.5	5,071.8	4,802.4	4,738.4	4,913.3	4,814.0	4,690.2	4,440.1	4,557.9	4,235.1
Equity and liabilities
Equity	5,346.2	5,605.2	5,592.5	5,272.5	4,724.9	4,467.8	4,167.4	3,853.5	3,717.7	3,458.8	3,501.1	3,330.1	3,205.5	3,193.7	3,024.1	3,084.7	3,151.4	3,092.6	2,986.7	2,839.2	2,709.6	2,664.9	2,629.0	2,620.3	2,461.9	2,434.2	2,403.2	2,381.3	2,312.1	2,358.2	2,280.4	2,108.2	2,066.3	2,101.1	2,163.7	2,082.2	2,061.5	2,010.4	2,047.3
Non-interst-bearing long-term liabilities	205.8	317.1	252.7	258.5	314.0	299.9	329.4	275.7	269.7	272.7	256.3	259.9	259.1	263.2	257.8	271.9	300.4	296.9	277.8	288.6	260.8	268.9	269.0	275.5	230.1	232.7	224.3	259.1	235.2	242.0	222.0	238.7	252.3	252.6	242.1	261.0	216.8	211.2	197.1
Interest-bearing long-term liabilities	715.2	765.7	702.6	671.6	1,446.6	1,640.9	1,532.7	1,230.8	1,073.4	1,046.0	1,053.4	1,051.5	1,044.0	1,063.3	1,062.9	1,119.8	1,179.7	1,257.1	1,148.5	1,070.0	1,090.3	847.1	764.5	690.7	389.2	368.2	379.4	319.3	372.1	416.3	268.3	196.7	229.5	251.9	280.6	245.4	270.2	262.2	315.8
Interest-bearing current liabilities	761.8	1,099.4	1,140.2	1,170.7	1,408.5	1,378.0	1,317.0	1,148.0	1,029.1	975.2	747.6	735.6	803.2	883.7	998.4	1,154.0	1,048.1	1,251.4	1,348.7	1,175.9	1,117.3	1,468.7	1,212.6	1,283.2	1,394.8	1,391.3	1,304.1	1,236.1	1,086.0	1,231.7	1,258.1	1,309.0	1,245.9	1,262.8	1,154.5	1,140.3	976.4	1,027.8	818.5
Non-interest-bearing current liabilities	2,221.9	2,288.8	2,158.4	2,259.8	2,042.6	2,197.3	2,128.6	1,964.4	1,778.9	1,802.5	1,682.0	1,578.4	1,407.2	1,497.0	1,424.3	1,469.5	1,478.0	1,633.8	1,496.9	1,437.1	1,382.5	1,469.4	1,347.8	1,325.3	1,133.2	1,214.2	1,149.7	1,165.4	1,076.0	1,142.3	1,043.0	949.8	944.4	1,044.8	973.1	961.3	915.2	1,046.3	856.4
Liabilities attritutable to available-for-sale assets	0.0	0.0	0.0	0.0	220.5	227.5				7.0
Total equity and liabilities	9,250.9	10,076.2	9,846.4	9,633.1	10,157.1	10,211.4	9,475.1	8,472.4	7,868.8	7,562.2	7,240.4	6,955.5	6,719.0	6,900.9	6,767.5	7,099.9	7,157.6	7,531.8	7,258.6	6,810.8	6,560.5	6,719.0	6,222.9	6,195.0	5,609.2	5,640.6	5,460.7	5,361.2	5,081.4	5,390.5	5,071.8	4,802.4	4,738.4	4,913.2	4,814.0	4,690.2	4,440.1	4,557.9	4,235.1
Cash flow statements in summary
Operating profit	73.0	322.1	334.9	734.5	277.5	119.8	269.6	191.4	131.3	237.5	209.6	173.1	108.0	213.5	182.1	56.3	112.6	283.8	173.0	114.1	80.1	189.0	144.9	5.1	67.7	143.9	132.9	47.7	105.1	153.2	133.0	62.3	30.1	134.2	117.5	55.0	54.1	156.3	111.4
Adjustments for non-cash items	77.6	90.5	125.4	-305.4	90.6	222.0	106.2	67.5	81.1	117.2	88.7	138.8	83.3	98.0	71.4	83.3	77.0	111.3	78.3	75.6	49.0	50.8	17.7	96.1	45.5	62.8	16.0	44.3	1.5	66.3	46.3	25.9	48.4	30.0	39.5	31.5	60.7	74.9	32.4
Financial items	-18.8	-30.1	-22.5	-26.8	-21.3	-18.3	-11.3	-9.4	-6.5	-3.7	-8.0	-6.8	-6.4	-6.1	-8.2	-8.2	-9.4	-12.7	-8.0	-9.9	-8.4	-7.4	-6.6	-7.6	-6.7	-3.9	-5.7	-6.8	-4.3	-5.7	-5.6	-4.7	-4.5	-5.0	-4.7	-5.6	-5.0	-5.2	-4.9
Income tax paid	-72.6	-65.5	-49.3	-38.4	-72.2	-48.4	-55.5	-1.5	-63.6	-41.8	-40.5	-32.7	-45.5	-56.7	-47.8	-37.2	-31.3	-36.3	-45.0	-37.8	-43.2	-36.1	-35.8	-48.0	-56.9	-10.8	-31.7	-34.4	-23.5	-47.2	-23.6	-39.2	-53.7	-23.8	-22.1	-55.8	-37.8	-25.9	-2.0
Cash flow from operating activities before changes in working capital	59.2	317.0	388.5	363.9	274.6	275.1	309.0	248.0	142.3	309.2	249.8	272.4	139.4	248.7	197.5	94.2	148.9	346.1	198.3	142.0	77.5	196.3	120.2	45.6	49.6	192.0	111.5	50.8	78.8	166.6	150.1	44.3	20.3	135.4	130.2	25.1	72.0	200.1	136.9
Changes in working capital	343.7	115.7	-81.8	-193.3	4.1	-72.0	-373.8	-279.6	-115.6	-227.7	-91.2	-43.1	105.1	36.0	37.9	-54.0	163.9	-23.7	-29.4	-106.5	111.6	-109.5	-45.1	-60.8	16.9	-92.3	-37.7	-76.3	129.7	0.8	-36.0	-84.3	18.1	-13.6	-81.5	-38.0	5.4	-111.2	-49.0
Cash flow from operating activities	402.9	432.7	306.7	170.6	278.7	203.1	-64.8	-31.6	26.7	81.5	158.6	229.3	244.5	284.7	235.4	40.2	312.8	322.4	168.9	35.5	189.1	86.8	75.1	-15.2	66.5	99.7	73.8	-25.5	208.5	167.4	114.1	-40.0	38.4	121.8	48.7	-12.9	77.4	88.9	87.9
Cash flow from investing activities	-23.0	-84.8	-167.0	852.4	-33.8	-92.6	-407.4	-247.7	-44.4	-115.9	-107.9	-124.6	-153.2	-77.5	-93.0	-35.5	-37.3	-107.2	-55.4	-52.4	-257.0	-104.4	-101.6	-89.7	-112.8	-118.0	-161.4	-35.1	-87.5	-132.5	-26.2	-40.2	-45.9	-82.2	-43.8	-123.1	-26.9	-61.1	-85.9
Cash flow from financing activities	-343.3	-362.6	-70.5	-1,028.7	-246.2	-114.4	429.9	286.6	-43.8	56.7	-24.6	-113.5	-100.7	-161.8	-181.2	68.0	-265.8	-195.6	-67.7	0.1	-106.9	212.5	56.1	104.1	35.5	-50.2	129.4	81.3	-122.7	-55.5	-37.6	52.8	-24.6	-3.3	28.6	150.2	-73.6	-14.6	48.2
Cash flow for the period	36.6	-14.7	69.2	-5.7	-1.3	-3.9	-42.3	7.3	-61.5	22.3	26.1	-8.8	-9.4	45.4	-38.8	72.7	9.7	19.6	45.8	-16.8	-174.8	194.9	29.6	-0.8	-10.8	-68.5	41.8	20.7	-1.7	-20.6	50.3	-27.4	-32.1	36.3	33.5	14.2	-23.1	13.2	50.2
Cash & cash equivalents at start of period	428.7	429.1	339.9	349.7	337.9	311.3	335.9	327.7	361.4	348.0	319.1	324.0	344.1	307.9	378.2	328.0	321.0	301.4	250.4	256.2	431.9	234.3	213.3	194.9	208.3	270.0	241.8	212.9	229.3	236.6	176.9	198.6	242.3	214.6	187.8	123.3	123.3	123.3	123.3
Translation differences in cash	-48.7	14.3	20.0	-4.1	13.1	30.5	17.7	0.9	27.8	-8.9	2.8	3.9	-10.7	-9.2	-31.5	-22.5	-2.7	0.0	5.2	11.0	-0.9	2.7	-8.6	19.2	-2.6	6.8	-13.6	8.2	-14.7	13.3	9.4	5.7	-11.6	-8.6	-6.7	14.8	-6.8	-3.5	5.5
Cash & cash equivalents held for sale					-15.3	-5.7	0.0	0.0	0.0	-2.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Cash & cash equivalents at the end of period	416.6	428.7	429.1	339.9	334.4	332.2	311.3	335.9	327.7	359.3	348.0	319.1	324.0	344.1	307.9	378.2	328.0	321.0	301.4	250.4	256.2	431.9	234.3	213.3	194.9	208.3	270.0	241.8	212.9	229.3	236.6	176.9	198.6	242.3	214.6	187.8	158.8	188.7	179.0
Key ratios/Alternative performance measures
Number of employees
The number of employees at the end of the accounting period. New employees, appointments terminated, part-time employees and paid overtime are converted into full-time equivalents.
Number of employees
Return on equity
Profit after tax before non-controlling interest, for the trailing 12 months (TTM), divided by average equity excluding non-controlling interest.
Profit after tax before minority share, rolling 12 month
Average equity
Return on equity, %	19.9	24.2	21.4	22.6	13.3	12.2	16.1	15.1	15.0	14.9	14.8	13.0	9.4	9.2	11.0	12.6	15.5	15.4	13.5	11.9	9.6	9.7	8.9	9.3	10.2	10.8	11.4	12.6	12.9	11.6	10.6	9.8	9.9	11.4	13.0	15.1	27.4	27.2	26.8
Return on capital employed, %
Profit after financial income, for the trailing 12 months (TTM), divided by average capital employed.
Profit after financial income, rolling 12
Average capital employed
Return on capital employed, %	20.7	23.4	20.9	20.1	13.3	12.2	14.7	14.5	14.9	14.2	14.3	13.1	10.2	10.1	11.2	11.6	12.6	12.6	11.1	11.3	8.8	8.8	8.2	9.1	9.3	10.4	10.8	12.0	11.9	10.5	10.1	10.2	9.3	10.5	12.4	12.5	19.8	18.9	18.1
EBITDA
Operating profit before depreciation and amortization
Operating profit	73.0	322.1	334.9	734.5	277.5	119.8	269.6	191.4	131.3	237.5	209.6	173.1	108.0	213.5	182.1	56.3	112.6	283.9	173.0	114.1	80.1	188.9	144.9	5.2	67.7	143.9	132.9	47.7	105.1	153.2	133.0	62.2	30.1	134.3	117.5	55.1	54.1	156.3	111.4
Depreciation and amortization	102.4	112.4	104.7	95.3	96.2	273.5	103.2	134.5	92.8	91.0	90.0	124.8	88.6	97.4	89.1	130.7	90.5	89.0	85.4	62.8	57.6	57.2	55.6	54.7	52.2	48.8	48.8	49.0	47.8	45.8	44.0	46.3	43.3	44.6	44.0	46.2	43.1	41.8	39.9
EBITDA	175.4	434.5	439.6	829.8	373.7	393.3	372.8	325.9	224.1	328.5	299.6	297.9	196.6	310.9	271.2	187.0	203.1	372.9	258.4	176.9	137.7	246.1	200.5	59.9	119.9	192.7	181.7	96.7	152.9	199.0	177.0	108.5	73.4	178.9	161.5	101.3	97.2	198.1	151.3
Equity per share
Equity divided by the number of shares at the end of the period
Equity
Number of shares, thousand	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000
Equity per share, SEK
Cash conversion
Operating profit before depreciation and amortization, rolling 12 months (TTM)
Non-cash provisions in working capital, rolling 12 months (TTM)
Change in working capital, rolling 12 months (TTM)
Investments in machinery and equipment, rolling 12 months (TTM)
Total
Operating profit, rolling 12 months (TTM)
Cash conversion, %
Net indebtedness
Interest-bearing liabilities + provision pensions reduced by cash and cash equivalents and short-term investments
Interest-bearing liabilities
Provisions for pensions
Cash and cash equivalents and short-term investments
Net indebtedness
Operating cash flow per share
Cash flow for the period from operating activities divided by the average number of shares during the period.
Cash flow for the period from operating activities
Number of shares, thousand
Operating cash flow per share, SEK
Organic growth
Change in sales by comparable units, adjusted for acquisitions and foreign currency effects.
Net sales for comparable units
Net sales previous year
Organic growth, %
Profit per share
Profit for the period attributable to the Parent Company's shareholders divided by the average number of shares during the period.
Profit attributable to the Parent Company's shareholders
Number of shares, thousand
Profit per share, SEK
Operating margin
Operating profit divided by net sales.
Operating profit
Net sales	2,826.7	3,186.1	3,174.9	3,128.8	3,043.5	3,036.7	2,848.9	2,661.6	2,278.1	2,404.2	2,290.5	2,208.5	2,003.9	2,206.7	2,100.0	2,031.0	2,146.7	2,483.1	2,254.0	2,143.8	2,018.5	2,151.4	2,012.7	1,827.1	1,773.3	1,863.7	1,837.2	1,733.2	1,715.4	1,769.2	1,645.9	1,508.7	1,416.3	1,624.4	1,563.1	1,502.4	1,431.6	1,554.5	1,393.8
Operating margin, %	2.6	10.1	10.5	23.5	9.1	3.9	9.5	7.2	5.8	9.9	9.2	7.8	5.4	9.7	8.7	2.8	5.2	11.4	7.7	5.3	4.0	8.8	7.2	0.3	3.8	7.7	7.2	2.8	6.1	8.7	8.1	4.1	2.1	8.3	7.5	3.7	3.8	10.1	8.0
Operating profit (EBIT)
Earnings before financial items and tax
Equity/assets ratio
Adjusted equity divided by total assets
Adjusted equity
Total assets
Equity/assets ratio, %	57.8	55.6	56.8	54.7	46.5	43.8	44.0	45.5	47.2	45.7	48.4	47.9	47.7	46.3	44.7	43.4	44.0	41.1	41.1	41.7	41.3	39.7	42.2	42.5	43.9	43.2	44.0	44.6	45.5	43.9	45.0	43.9	43.6	42.8	44.9	44.4	46.4	44.1	48.3
Capital employed
Total assets less non interest-bearing liabilities
Total assets
Non interest-bearing liabilities
Capital employed
Growth
Growth is defined as the change in net sales, relative to net sales for the preceding period
Net sales
Net sales previous year
Growth, %	-7.1	4.9	11.4	17.6	33.6	26.3	24.4	20.5	13.7	8.9	9.1	8.7	-6.7	-11.1	-6.8	-5.3	6.4	15.4	12.0	17.3	13.8	15.4	9.6	5.4	3.4	5.3	11.6	14.9	21.1	8.9	5.3	0.4	-1.1	4.5	12.1	19.4	10.3	9.9	5.2
Profit margin
Profit after financial items divided by net sales
Profit after financial items	10.7	306.7	316.9	701.8	218.4	109.5	265.8	196.8	129.0	209.6	206.2	158.0	100.7	189.8	115.5	9.7	93.1	263.9	177.0	96.4	74.3	177.8	109.5	30.7	52.8	143.7	106.0	43.2	75.2	156.4	135.3	51.8	25.4	118.7	111.5	50.7	60.5	156.6	112.7
Net sales	2,826.7	3,186.1	3,174.9	3,128.8	3,043.5	3,036.7	2,848.9	2,661.6	2,278.1	2,404.2	2,290.5	2,208.5	2,003.9	2,206.7	2,100.0	2,031.0	2,146.7	2,483.1	2,254.0	2,143.8	2,018.5	2,151.4	2,012.7	1,827.1	1,773.3	1,863.7	1,837.2	1,733.2	1,715.4	1,769.2	1,645.9	1,508.7	1,416.3	1,624.4	1,563.1	1,502.4	1,431.6	1,554.5	1,393.8
Profit margin, %	0.4	9.6	10.0	22.4	7.2	3.6	9.3	7.4	5.7	8.7	9.0	7.2	5.0	8.6	5.5	0.5	4.3	10.6	7.9	4.5	3.7	8.3	5.4	1.7	3.0	7.7	5.8	2.5	4.4	8.8	8.2	3.4	1.8	7.3	7.1	3.4	4.2	10.1	8.1

SEK million	May-Jan 2023/24	May-Oct 2023/24	May-Jul 2023/24	May-Apr 2022/23	May-Jan 2022/23	May-Oct 2022/23	May-Jul 2022/23	May-Apr 2021/22	May-Jan 2021/22	May-Oct 2021/22	May-Jul 2021/22	May-Apr 2020/21	May-Jan 2020/21	May-Oct 2020/21	May-Jul 2020/21	May-Apr 2019/20	May-Jan 2019/20	May-Oct 2019/20	May-Jul 2019/20	May-Apr 2018/19	May-Jan 2018/19	May-Oct 2018/19	May-Jul 2018/19	May-Apr 2017/18	May-Jan 2017/18	May-Oct 2017/18	May-Jul 2017/18	May-Apr 2016/17	May-Jan 2016/17	May-Oct 2016/17	May-Jul 2016/17	May-Apr 2015/16	May-Jan 2015/16	May-Oct 2015/16	May-Jul 2015/16	May-Apr 2014/15	May-Jan 2014/15	May-Oct 2014/15	May-Jul 2014/15
Summary
Net sales	9,187.8	6,361.0	3,174.9	12,057.9	8,929.1	5,885.6	2,848.9	9,634.4	6,972.8	4,694.7	2,290.5	8,519.1	6,310.6	4,306.7	2,100.0	8,914.8	6,883.8	4,737.1	2,254.0	8,326.4	6,182.6	4,164.1	2,012.7	7,301.3	5,474.2	3,700.9	1,837.2	6,863.7	5,130.5	3,415.1	1,645.9	6,112.5	4,603.8	3,187.5	1,563.1	5,882.3	4,379.9	2,948.3	1,393.8
Growth, %	2.9	8.1	11.4	25.2	28.1	25.4	24.4	13.1	10.5	9.0	9.1	-4.4	-8.3	-9.1	-6.8	7.1	11.3	13.8	12.0	14.0	12.9	12.5	9.6	6.4	6.7	8.4	11.6	12.3	11.4	7.1	5.3	3.9	5.1	8.1	12.1
Operating profit	730.0	657.0	334.9	1,401.4	666.9	389.4	269.6	769.8	578.4	447.1	209.6	676.7	503.6	395.6	182.1	625.8	569.5	456.9	173.0	528.0	413.9	333.8	144.9	349.7	344.5	276.8	132.9	439.0	391.3	286.2	133.0	344.1	281.9	251.8	117.5	376.9	321.8	267.7	111.4
Operating margin, %	7.9	10.3	10.5	11.6	7.5	6.6	9.5	8.0	8.3	9.5	9.2	7.9	8.0	9.2	8.7	7.0	8.3	9.6	7.7	6.3	6.7	8.0	7.2	4.8	6.3	7.5	7.2	6.4	7.6	8.4	8.1	5.6	6.1	7.9	7.5	6.4	7.3	9.1	8.0
Profit after financial items	634.3	623.6	316.9	1,294.9	593.1	375.3	265.8	741.6	544.8	415.8	206.2	564.0	406.0	305.3	115.5	543.7	534.0	440.9	177.0	458.0	361.6	287.3	109.5	333.2	302.5	249.7	106.0	410.1	366.9	291.7	135.3	307.4	255.6	230.2	111.5	380.5	329.8	269.3	112.7
Profit margin, %	6.9	9.8	10.0	10.7	6.6	6.4	9.3	7.7	7.8	8.9	9.0	6.6	6.4	7.1	5.5	6.1	7.8	9.3	7.9	5.5	5.8	6.9	5.4	4.6	5.5	6.7	5.8	6.0	7.2	8.5	8.2	5.0	5.6	7.2	7.1	6.5	7.5	9.1	8.1
Earnings per share, SEK	2.23	2.35	1.17	5.00	2.04	1.25	1.04	2.62	1.96	1.49	0.75	1.95	1.40	1.07	0.39	1.83	1.84	1.54	0.61	1.55	1.17	0.96	0.35	1.11	1.05	0.85	0.36	1.43	1.29	1.04	0.48	0.99	0.86	0.80	0.39	5.95	5.39	4.55	2.31
Earnings per share after full dilution, SEK	2.22	2.35	1.17	5.00	2.04	1.25	1.04	2.62	1.96	1.49	0.75	1.95	1.40	1.07	0.39	1.83	1.84	1.54	0.61	1.55	1.17	0.96	0.35	1.11	1.05	0.85	0.36	1.43	1.29	1.04	0.48	0.99	0.86	0.80	0.39	5.95	5.39	4.55	2.31
Income statements
Net sales	9,187.8	6,361.0	3,174.9	12,057.9	8,929.1	5,885.6	2,848.9	9,634.4	6,972.8	4,694.7	2,290.5	8,519.1	6,310.6	4,306.7	2,100.0	8,914.8	6,883.8	4,737.1	2,254.0	8,326.4	6,182.6	4,164.1	2,012.7	7,301.3	5,474.2	3,700.9	1,837.2	6,863.7	5,130.5	3,415.1	1,645.9	6,112.5	4,603.8	3,187.5	1,563.1	5,882.3	4,379.9	2,948.3	1,393.8
Cost of goods sold	-6,052.5	-4,183.7	-2,076.1	-7,948.5	-5,891.0	-3,889.8	-1,863.1	-6,315.3	-4,561.5	-3,042.2	-1,493.7	-5,559.5	-4,138.4	-2,807.2	-1,393.4	-5,831.2	-4,502.1	-3,080.3	-1,486.9	-5,597.6	-4,156.7	-2,781.5	-1,361.7	-4,887.2	-3,650.4	-2,462.5	-1,230.2	-4,502.5	-3,355.5	-2,218.5	-1,072.7	-4,010.5	-3,015.6	-2,077.0	-1,026.9	-3,857.6	-2,858.8	-1,908.0	-922.2
Gross profit	3,135.3	2,177.3	1,098.8	4,109.4	3,038.1	1,995.8	985.8	3,319.1	2,411.3	1,652.5	796.8	2,959.6	2,172.2	1,499.5	706.6	3,083.6	2,381.7	1,656.8	767.1	2,728.8	2,025.9	1,382.6	651.0	2,414.1	1,823.8	1,238.4	607.0	2,361.2	1,775.0	1,196.6	573.2	2,102.0	1,588.2	1,110.5	536.2	2,024.7	1,521.1	1,040.3	471.6
Other operating income	214.5	174.3	99.7	704.8	177.1	133.7	52.1	233.4	166.1	74.6	26.6	196.2	156.0	111.6	75.9	168.5	104.1	72.9	26.8	169.5	131.3	97.2	40.3	116.8	86.1	51.8	28.8	119.6	85.6	46.1	21.4	80.3	56.3	38.9	18.1	92.7	55.6	30.5	24.7
Selling expenses	-1,927.1	-1,286.4	-632.7	-2,459.8	-1,816.0	-1,183.8	-570.0	-2,077.5	-1,516.2	-988.2	-483.1	-1,861.3	-1,386.1	-920.4	-457.4	-1,987.6	-1,489.3	-985.4	-476.4	-1,827.0	-1,337.0	-878.4	-429.1	-1,652.7	-1,199.2	-778.5	-386.4	-1,548.2	-1,117.3	-715.5	-342.9	-1,399.8	-1,035.7	-683.1	-334.7	-1,352.7	-964.8	-628.9	-303.6
Administrative expenses	-441.6	-298.7	-155.8	-575.4	-421.6	-268.4	-132.9	-437.6	-316.6	-204.7	-99.2	-427.8	-313.0	-208.4	-105.9	-424.5	-317.7	-205.8	-103.2	-389.2	-283.1	-178.6	-87.2	-360.6	-264.2	-165.6	-82.7	-365.2	-264.0	-169.0	-82.3	-337.1	-249.7	-162.3	-79.4	-313.9	-228.8	-143.8	-66.5
Other operating expenses	-324.3	-151.9	-77.6	-419.1	-362.4	-321.6	-65.4	-267.6	-166.2	-87.1	-31.5	-190.0	-125.5	-86.7	-37.1	-214.2	-109.3	-81.6	-41.3	-154.1	-123.2	-89.0	-30.1	-167.9	-102.0	-69.3	-33.8	-128.4	-88.0	-72.0	-36.4	-101.3	-77.2	-52.2	-22.7	-73.9	-61.3	-30.4	-14.8
Net profit on monetary items	73.2	42.4	2.5	41.5	51.7	33.7	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Operating profit	730.0	657.0	334.9	1,401.4	666.9	389.4	269.6	769.8	578.4	447.1	209.6	676.7	503.6	395.6	182.1	625.8	569.5	456.9	173.0	528.0	413.9	333.8	144.9	349.7	344.5	276.8	132.9	439.0	391.3	286.2	133.0	344.1	281.9	251.8	117.5	376.9	321.8	267.7	111.4
Net financial items	-95.7	-33.4	-18.0	-106.5	-73.8	-14.1	-3.8	-28.2	-33.6	-31.3	-3.4	-112.7	-97.6	-90.3	-66.6	-82.1	-35.5	-16.0	4.0	-70.0	-52.3	-46.5	-35.4	-16.5	-42.0	-27.1	-26.9	-28.9	-24.4	5.5	2.3	-36.7	-26.3	-21.6	-6.0	3.6	8.0	1.6	1.3
Profit before tax	634.3	623.6	316.9	1,294.9	593.1	375.3	265.8	741.6	544.8	415.8	206.2	564.0	406.0	305.3	115.5	543.7	534.0	440.9	177.0	458.0	361.6	287.3	109.5	333.2	302.5	249.7	106.0	410.1	366.9	291.7	135.3	307.4	255.6	230.2	111.5	380.5	329.8	269.3	112.7
Tax	-170.1	-135.3	-74.6	-250.2	-167.0	-118.8	-48.7	-197.3	-139.4	-105.2	-49.4	-153.4	-111.7	-81.9	-33.5	-158.3	-146.7	-118.1	-48.5	-136.8	-118.5	-89.0	-37.5	-103.1	-83.9	-72.7	-30.4	-115.9	-101.4	-77.0	-35.8	-100.3	-76.2	-63.8	-30.8	-70.8	-49.3	-32.5	7.5
Profit for the period	464.2	488.3	242.3	1,044.7	426.1	256.5	217.1	544.3	405.4	310.6	156.8	410.6	294.3	223.4	82.0	385.4	387.3	322.8	128.5	321.2	243.1	198.3	72.0	230.1	218.6	177.0	75.6	294.2	265.5	214.7	99.5	207.1	179.4	166.4	80.7	309.7	280.5	236.8	120.2
Profit attributable to minority interests	1.4	-0.2	-1.6	5.1	3.0	-3.1	0.7	0.3	-0.8	2.1	1.7	4.4	3.4	1.1	0.3	3.8	4.6	2.7	1.8	-1.0	0.4	-0.1	-0.5	-0.4	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit attributable to Parent Company's shareholders	462.8	488.5	243.9	1,039.6	423.1	259.6	216.4	544.0	406.2	308.5	155.1	406.2	290.9	222.3	81.7	381.6	382.7	320.1	126.7	322.2	242.7	198.4	72.5	230.5	218.6	177.0	75.6	294.2	265.5	214.7	99.5	207.1	179.4	166.4	80.7	309.7	280.5	236.8	120.2
Basic earning per share, SEK	2.2	2.4	1.2	5.0	2.0	1.3	1.0	2.6	2.0	1.5	0.8	2.0	1.4	1.1	0.4	1.8	1.8	1.5	0.6	1.5	1.2	1.0	0.3	1.1	1.1	0.8	0.4	1.4	1.3	1.0	0.5	1.0	0.9	0.8	0.4	6.0	5.4	4.6	2.3
Diluted earnings per share, SEK	2.2	2.4	1.2	5.0	2.0	1.3	1.0	2.6	2.0	1.5	0.8	2.0	1.4	1.1	0.4	1.8	1.8	1.5	0.6	1.5	1.2	1.0	0.3	1.1	1.1	0.8	0.4	1.4	1.3	1.0	0.5	1.0	0.9	0.8	0.4	6.0	5.4	4.6	2.3
Average number of shares during period, basic (thousand)	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000
Average number of shares during period, diluted (thousand)	208,108	208,110	208,149	208,063	208,028	208,000	208,000	208,000	208,000	208,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000
Balance sheets
Non-current assets
Goodwill	981.9	1,027.6	1,002.6	988.6	945.1	924.3	972.7	888.9	802.5	761.9	765.3	735.6	767.6	766.9	774.1	819.9	873.0	874.3	856.4	846.8	847.3	753.9	737.7	759.1	724.4	728.0	708.9	691.4	676.4	723.6	645.7	621.8	624.8	642.2	619.7	613.7	589.2	586.1	553.4
Other intangible assets	275.9	295.4	292.6	291.3	289.7	296.1	310.9	216.1	191.4	195.1	209.7	210.7	223.7	214.9	225.3	247.7	238.6	252.7	252.6	265.1	238.6	208.1	190.0	216.9	185.1	200.3	204.9	193.3	196.1	192.7	188.4	189.3	194.4	205.5	221.8	225.8	231.0	241.7	249.7
Tangible non-current assets	2,568.9	2,740.9	2,577.2	2,526.0	2,491.7	2,476.7	2,516.4	2,325.6	2,334.6	2,238.9	2,164.8	2,118.1	2,024.1	1,979.9	1,949.6	1,988.1	2,065.0	2,109.2	2,087.5	1,769.4	1,745.3	1,732.6	1,730.0	1,722.2	1,601.4	1,538.4	1,462.3	1,413.4	1,377.8	1,395.2	1,306.5	1,273.6	1,284.2	1,294.1	1,291.6	1,288.3	1,226.3	1,189.3	1,141.8
Financial non-current assets	256.7	209.4	188.1	179.9	213.7	211.2	206.8	193.6	234.5	223.3	221.2	237.5	264.3	263.7	257.9	254.9	244.5	228.0	257.9	267.6	253.1	257.2	253.7	240.4	222.1	201.9	201.9	200.6	202.1	199.8	174.7	180.5	182.1	175.2	179.1	180.0	169.7	162.4	166.9
Total non-current assets	4,083.4	4,273.3	4,060.5	3,985.8	3,940.2	3,908.3	4,006.8	3,624.2	3,563.0	3,419.2	3,361.0	3,301.9	3,279.7	3,225.4	3,206.9	3,310.6	3,421.1	3,464.2	3,454.4	3,148.9	3,084.3	2,951.8	2,911.4	2,938.6	2,733.0	2,668.6	2,578.0	2,498.7	2,452.4	2,511.3	2,315.3	2,265.2	2,285.5	2,317.0	2,312.2	2,307.8	2,216.2	2,179.5	2,111.8
Current Assets
Inventories	2,146.0	2,411.7	2,477.4	2,459.2	2,490.4	2,527.5	2,543.9	2,224.9	1,968.9	1,744.9	1,634.7	1,436.9	1,357.5	1,378.1	1,430.9	1,571.5	1,489.2	1,544.9	1,544.7	1,509.4	1,473.4	1,437.7	1,414.1	1,399.4	1,241.4	1,181.5	1,138.9	1,170.4	1,132.3	1,150.1	1,132.8	1,105.1	1,049.4	1,030.5	1,030.4	1,029.2	980.6	965.1	930.0
Current receivables	2,604.9	2,962.5	2,879.4	2,848.2	2,526.7	2,610.5	2,613.1	2,287.4	2,009.2	2,031.8	1,896.7	1,897.6	1,757.8	1,953.3	1,821.8	1,839.6	1,919.3	2,201.7	1,958.1	1,902.1	1,746.6	1,897.6	1,663.1	1,644.2	1,439.9	1,582.2	1,473.8	1,450.3	1,283.8	1,499.8	1,387.1	1,255.2	1,204.9	1,323.5	1,256.8	1,165.4	1,084.5	1,224.6	1,014.3
Cash & cash equivalents	416.6	428.7	429.1	339.9	334.4	332.2	311.3	335.9	327.7	359.3	348.0	319.1	324.0	344.1	307.9	378.2	328.0	321.0	301.4	250.4	256.2	431.9	234.3	212.8	194.9	208.3	270.0	241.8	212.9	229.3	236.6	176.9	198.6	242.3	214.6	187.8	158.8	188.7	179.0
Total current assets	5,167.5	5,802.9	5,785.9	5,647.3	5,351.5	5,470.2	5,468.3	4,848.2	4,305.8	4,136.0	3,879.4	3,653.6	3,439.3	3,675.5	3,560.6	3,789.3	3,736.5	4,067.6	3,804.2	3,661.9	3,476.2	3,767.2	3,311.5	3,256.4	2,876.2	2,972.0	2,882.7	2,862.5	2,629.0	2,879.2	2,756.5	2,537.2	2,452.9	2,596.3	2,501.8	2,382.4	2,223.9	2,378.4	2,123.3
Assets held for sale					865.4	832.9	0.0	0.0	0.0	7.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total assets	9,250.9	10,076.2	9,846.4	9,633.1	10,157.1	10,211.4	9,475.1	8,472.4	7,868.8	7,562.2	7,240.4	6,955.5	6,719.0	6,900.9	6,767.5	7,099.9	7,157.6	7,531.8	7,258.6	6,810.8	6,560.5	6,719.0	6,222.9	6,195.0	5,609.2	5,640.6	5,460.7	5,361.2	5,081.4	5,390.5	5,071.8	4,802.4	4,738.4	4,913.3	4,814.0	4,690.2	4,440.1	4,557.9	4,235.1
Equity and liabilities
Equity	5,346.2	5,605.2	5,592.5	5,272.5	4,724.9	4,467.8	4,167.4	3,853.5	3,717.7	3,458.8	3,501.1	3,330.1	3,205.5	3,193.7	3,024.1	3,084.7	3,151.4	3,092.6	2,986.7	2,839.2	2,709.6	2,664.9	2,629.0	2,620.3	2,461.9	2,434.2	2,403.2	2,381.3	2,312.1	2,358.2	2,280.4	2,108.2	2,066.3	2,101.1	2,163.7	2,082.2	2,061.5	2,010.4	2,047.3
Non-interst-bearing long-term liabilities	205.8	317.1	252.7	258.5	314.0	299.9	329.4	275.7	269.7	272.7	256.3	259.9	259.1	263.2	257.8	271.9	300.4	296.9	277.8	288.6	260.8	268.9	269.0	275.5	230.1	232.7	224.3	259.1	235.2	242.0	222.0	238.7	252.3	252.6	242.1	261.0	216.8	211.2	197.1
Interest-bearing long-term liabilities	715.2	765.7	702.6	671.6	1,446.6	1,640.9	1,532.7	1,230.8	1,073.4	1,046.0	1,053.4	1,051.5	1,044.0	1,063.3	1,062.9	1,119.8	1,179.7	1,257.1	1,148.5	1,070.0	1,090.3	847.1	764.5	690.7	389.2	368.2	379.4	319.3	372.1	416.3	268.3	196.7	229.5	251.9	280.6	245.4	270.2	262.2	315.8
Interest-bearing current liabilities	761.8	1,099.4	1,140.2	1,170.7	1,408.5	1,378.0	1,317.0	1,148.0	1,029.1	975.2	747.6	735.6	803.2	883.7	998.4	1,154.0	1,048.1	1,251.4	1,348.7	1,175.9	1,117.3	1,468.7	1,212.6	1,283.2	1,394.8	1,391.3	1,304.1	1,236.1	1,086.0	1,231.7	1,258.1	1,309.0	1,245.9	1,262.8	1,154.5	1,140.3	976.4	1,027.8	818.5
Non-interest-bearing current liabilities	2,221.9	2,288.8	2,158.4	2,259.8	2,042.6	2,197.3	2,128.6	1,964.4	1,778.9	1,802.5	1,682.0	1,578.4	1,407.2	1,497.0	1,424.3	1,469.5	1,478.0	1,633.8	1,496.9	1,437.1	1,382.5	1,469.4	1,347.8	1,325.3	1,133.2	1,214.2	1,149.7	1,165.4	1,076.0	1,142.3	1,043.0	949.8	944.4	1,044.8	973.1	961.3	915.2	1,046.3	856.4
Liabilities attritutable to available-for-sale assets	0.0	0.0	0.0	0.0	220.5	227.5	0.0	0.0	0.0	7.0
Total equity and liabilities	9,250.9	10,076.2	9,846.4	9,633.1	10,157.1	10,211.4	9,475.1	8,472.4	7,868.8	7,562.2	7,240.4	6,955.5	6,719.0	6,900.9	6,767.5	7,099.9	7,157.6	7,531.8	7,258.6	6,810.8	6,560.5	6,719.0	6,222.9	6,195.0	5,609.2	5,640.6	5,460.7	5,361.2	5,081.4	5,390.5	5,071.8	4,802.4	4,738.4	4,913.2	4,814.0	4,690.2	4,440.1	4,557.9	4,235.1
Cash flow statements in summary
Operating profit	730.0	657.0	334.9	1,401.4	666.9	389.4	269.6	769.8	578.4	447.1	209.6	676.7	503.6	395.6	182.1	625.7	569.4	456.8	173.0	528.1	414.0	333.9	144.9	349.6	344.5	276.8	132.9	439.0	391.3	286.2	133.0	344.1	281.8	251.7	117.5	376.8	321.8	267.7	111.4
Adjustments for non-cash items	293.6	216.0	125.4	113.4	418.8	328.2	106.2	354.5	287.0	205.9	88.7	391.5	252.7	169.4	71.4	349.9	266.6	189.6	78.3	193.1	117.5	68.5	17.7	220.4	124.3	78.8	16.0	158.4	114.1	112.6	46.3	143.8	117.9	69.5	39.5	199.5	168.0	107.3	32.4
Financial items	-71.4	-52.6	-22.5	-77.7	-50.9	-29.6	-11.3	-27.6	-18.2	-11.7	-8.0	-27.5	-20.7	-14.3	-8.2	-38.3	-30.1	-20.7	-8.0	-32.3	-22.4	-14.0	-6.6	-23.9	-16.3	-9.6	-5.7	-22.4	-15.6	-11.3	-5.6	-18.9	-14.2	-9.7	-4.7	-20.7	-15.1	-10.1	-4.9
Income tax paid	-187.4	-114.8	-49.3	-214.5	-176.1	-103.9	-55.5	-147.4	-145.9	-82.3	-40.5	-182.7	-150.0	-104.5	-47.8	-149.8	-112.6	-81.3	-45.0	-152.9	-115.1	-71.9	-35.8	-147.4	-99.4	-42.5	-31.7	-128.7	-94.3	-70.8	-23.6	-138.8	-99.6	-45.9	-22.1	-121.5	-65.7	-27.9	-2.0
Cash flow from operating activities before changes in working capital	764.8	705.6	388.5	1,222.6	858.7	584.1	309.0	949.3	701.3	559.0	249.8	858.0	585.6	446.2	197.5	787.5	693.3	544.4	198.3	536.0	394.0	316.5	120.2	398.7	353.1	303.5	111.5	446.3	395.5	316.7	150.1	330.2	285.9	265.6	130.2	434.1	409.0	337.0	136.9
Changes in working capital	377.5	33.8	-81.8	-634.9	-441.7	-445.8	-373.8	-714.1	-434.5	-318.9	-91.2	135.9	179.0	73.9	37.9	56.8	110.8	-53.1	-29.4	-149.5	-43.0	-154.6	-45.1	-173.9	-113.1	-130.0	-37.7	18.2	94.5	-35.2	-36.0	-161.3	-77.0	-95.1	-81.5	-192.8	-154.8	-160.2	-49.0
Cash flow from operating activities	1,142.3	739.4	306.7	587.7	417.0	138.3	-64.8	235.2	266.8	240.1	158.6	993.9	764.6	520.1	235.4	844.3	804.1	491.3	168.9	386.5	351.0	161.9	75.1	224.8	240.0	173.5	73.8	464.5	490.0	281.5	114.1	168.9	208.9	170.5	48.7	241.3	254.2	176.8	87.9
Cash flow from investing activities	-274.8	-251.7	-167.0	318.6	-533.8	-500.0	-407.4	-515.9	-268.2	-223.8	-107.9	-448.3	-323.7	-170.5	-93.0	-235.4	-199.9	-162.6	-55.4	-515.4	-463.0	-206.0	-101.6	-481.9	-392.2	-279.4	-161.4	-281.3	-246.2	-158.7	-26.2	-212.1	-171.9	-126.0	-43.8	-297.0	-173.9	-147.0	-85.9
Cash flow from financing activities	-776.4	-433.2	-70.5	-959.5	69.3	315.5	429.9	274.9	-11.7	32.1	-24.6	-557.2	-443.7	-343.0	-181.2	-461.1	-529.1	-263.3	-67.7	161.8	161.7	268.6	56.1	218.8	114.7	79.2	129.4	-134.5	-215.8	-93.1	-37.6	53.5	0.7	25.3	28.6	110.2	-40.0	33.6	48.2
Cash flow for the period	91.1	54.5	69.2	-53.2	-47.5	-46.2	-42.3	-5.8	-13.1	48.4	26.1	-11.6	-2.8	6.6	-38.8	147.8	75.1	65.4	45.8	32.9	49.7	224.5	29.6	-38.3	-37.5	-26.7	41.8	48.7	28.0	29.7	50.3	10.3	37.7	69.8	33.5	54.5	40.3	63.4	50.2
Cash & cash equivalents at start of period	339.9	339.9	339.9	335.9	335.9	335.9	335.9	319.1	319.1	319.1	319.1	378.2	378.2	378.2	378.2	250.4	250.4	250.4	250.4	213.3	213.3	213.3	213.3	241.8	241.8	241.8	241.8	176.9	176.9	176.9	176.9	187.8	187.8	187.8	187.8	123.3	123.3	123.3	123.3
Translation differences in cash	-14.4	34.3	20.0	57.2	61.3	48.2	17.7	22.6	21.7	-6.1	2.8	-47.5	-51.4	-40.7	-31.5	-20.0	2.5	5.2	5.2	4.2	-6.8	-5.9	-8.6	9.8	-9.4	-6.8	-13.6	16.2	8.0	22.7	9.4	-21.2	-26.9	-15.3	-6.7	10.0	-4.8	2.0	5.5
Cash & cash equivalents held for sale					-15.3	-5.7				-2.1
Cash & cash equivalents at the end of period	416.6	428.7	429.1	339.9	334.4	332.2	311.3	335.9	327.7	359.3	348.0	319.1	324.0	344.1	307.9	378.2	328.0	321.0	301.4	250.4	256.2	431.9	234.3	213.3	194.9	208.3	270.0	241.8	212.9	229.3	236.6	176.9	198.6	242.3	214.6	187.8	158.8	188.7	179.0
Key ratios/Alternative performance measures
Number of employees
The number of employees at the end of the accounting period. New employees, appointments terminated, part-time employees and paid overtime are converted into full-time equivalents.
Number of employees	6,518	6,588	6,616	6,587
Return on equity
Profit after tax before non-controlling interest, for the trailing 12 months (TTM), divided by average equity excluding non-controlling interest.
Profit after tax before minority share, rolling 12 month				1,044.7
Average equity				4,620.9
Return on equity, %	19.9	24.2	21.4	22.6	13.3	12.2	16.1	15.1	15.0	14.9	14.8	13.0	9.4	9.2	11.0	12.6	15.5	15.4	13.5	11.9	9.6	9.7	8.9	9.3	10.2	10.8	11.4	12.6	12.9	11.6	10.6	9.8	9.9	11.4	13.0	15.1	27.4	27.2	26.8
Return on capital employed, %
Profit after financial income, for the trailing 12 months (TTM), divided by average capital employed.
Profit after financial income, rolling 12				1,479.0
Average capital employed				7,355.1
Return on capital employed, %	20.7	23.4	20.9	20.1	13.3	12.2	14.7	14.5	14.9	14.2	14.3	13.1	10.2	10.1	11.2	11.6	12.6	12.6	11.1	11.3	8.8	8.8	8.2	9.1	9.3	10.4	10.8	12.0	11.9	10.5	10.1	10.2	9.3	10.5	12.4	12.5	19.8	18.9	18.1
EBITDA
Operating profit before depreciation and amortization
Operating profit	730.0	657.0	334.9	1,401.4	666.9	389.4	269.6	769.8	578.4	447.1	209.6	676.7	503.6	395.6	182.1	625.8	569.5	456.9	173.0	528.0	413.9	333.8	144.9	349.7	344.5	276.8	132.9	439.0	391.3	286.2	133.0	344.1	281.9	251.8	117.5	376.9	321.8	267.7	111.4
Depreciation and amortization	319.5	217.1	104.7	568.3	472.9	376.7	103.2	408.3	273.8	181.0	90.0	399.9	275.1	186.5	89.1	395.6	264.9	174.4	85.4	233.2	170.4	112.8	55.6	204.5	149.8	97.6	48.8	186.6	137.6	89.8	44.0	178.2	131.9	88.6	44.0	171.0	124.8	81.7	39.9
EBITDA	1,049.5	874.1	439.6	1,969.7
Equity per share
Equity divided by the number of shares at the end of the period
Equity				5,265.6
Number of shares, thousand	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000
Equity per share, SEK				25.3
Cash conversion
Operating profit before depreciation and amortization, rolling 12 months (TTM)
Non-cash provisions in working capital, rolling 12 months (TTM)
Change in working capital, rolling 12 months (TTM)
Investments in machinery and equipment, rolling 12 months (TTM)
Total
Operating profit, rolling 12 months (TTM)
Cash conversion, %
Net indebtedness
Interest-bearing liabilities + provision pensions reduced by cash and cash equivalents and short-term investments
Interest-bearing liabilities				1,842.3
Provisions for pensions				24.7
Cash and cash equivalents and short-term investments				343.7
Net indebtedness				1,523.3
Operating cash flow per share
Cash flow for the period from operating activities divided by the average number of shares during the period.
Cash flow for the period from operating activities				587.7
Number of shares, thousand				208,000
Operating cash flow per share, SEK				2.8
Organic growth
Change in sales by comparable units, adjusted for acquisitions and foreign currency effects.
Net sales for comparable units				11,168.8
Net sales previous year				9,634.5
Organic growth, %				15.9
Profit per share
Profit for the period attributable to the Parent Company's shareholders divided by the average number of shares during the period.
Profit attributable to the Parent Company's shareholders				1,039.6
Number of shares, thousand				208,000
Profit per share, SEK				5.0
Operating margin
Operating profit divided by net sales.
Operating profit				0.0
Net sales	9,187.8	6,361.0	3,174.9	12,057.9	8,929.1	5,885.6	2,848.9	9,634.4	6,972.8	4,694.7	2,290.5	8,519.1	6,310.6	4,306.7	2,100.0	8,914.8	6,883.8	4,737.1	2,254.0	8,326.4	6,182.6	4,164.1	2,012.7	7,301.3	5,474.2	3,700.9	1,837.2	6,863.7	5,130.5	3,415.1	1,645.9	6,112.5	4,603.8	3,187.5	1,563.1	5,882.3	4,379.9	2,948.3	1,393.8
Operating margin, %	7.9	10.3	10.5	0.0	7.5	6.6	9.5	8.0	8.3	9.5	9.2	7.9	8.0	9.2	8.7	7.0	8.3	9.6	7.7	6.3	6.7	8.0	7.2	4.8	6.3	7.5	7.2	6.4	7.6	8.4	8.1	5.6	6.1	7.9	7.5	6.4	7.3	9.1	8.0
Operating profit (EBIT)
Earnings before financial items and tax				0.0
Equity/assets ratio
Adjusted equity divided by total assets
Adjusted equity				5,265.6
Total assets				9,633.1
Equity/assets ratio, %	57.8	55.6	56.8	54.7	46.5	43.8	44.0	45.5	47.2	45.7	48.4	47.9	47.7	46.3	44.7	43.4	44.0	41.1	41.1	41.7	41.3	39.7	42.2	42.5	43.9	43.2	44.0	44.6	45.5	43.9	45.0	43.9	43.6	42.8	44.9	44.4	46.4	44.1	48.3
Capital employed
Total assets less non interest-bearing liabilities
Total assets				9,633.1
Non interest-bearing liabilities				2,472.3
Capital employed				7,160.8
Growth
Growth is defined as the change in net sales, relative to net sales for the preceding period
Net sales				12,057.9
Net sales previous year				9,634.5
Growth, %	2.9	8.1	11.4	25.2	28.1	25.4	24.4	13.1	10.5	9.0	9.1	-4.4	-8.3	-9.1	-6.8	7.1	11.3	13.8	12.0	14.0	12.9	12.5	9.6	6.4	6.7	8.4	11.6	12.3	11.4	7.1	5.3	3.9	5.1	8.1	12.1	0.0	0.0	0.0	0.0
Profit margin
Profit after financial items divided by net sales
Profit after financial items	634.3	623.6	316.9	1,294.9	593.1	375.3	265.8	741.6	544.8	415.8	206.2	564.0	406.0	305.3	115.5	543.7	534.0	440.9	177.0	458.0	361.6	287.3	109.5	333.2	302.5	249.7	106.0	410.1	366.9	291.7	135.3	307.4	255.6	230.2	111.5	380.5	329.8	269.3	112.7
Net sales	9,187.8	6,361.0	3,174.9	12,057.9	8,929.1	5,885.6	2,848.9	9,634.4	6,972.8	4,694.7	2,290.5	8,519.1	6,310.6	4,306.7	2,100.0	8,914.8	6,883.8	4,737.1	2,254.0	8,326.4	6,182.6	4,164.1	2,012.7	7,301.3	5,474.2	3,700.9	1,837.2	6,863.7	5,130.5	3,415.1	1,645.9	6,112.5	4,603.8	3,187.5	1,563.1	5,882.3	4,379.9	2,948.3	1,393.8
Profit margin, %	6.9	9.8	10.0	10.7	6.6	6.4	9.3	7.7	7.8	8.9	9.0	6.6	6.4	7.1	5.5	6.1	7.8	9.3	7.9	5.5	5.8	6.9	5.4	4.6	5.5	6.7	5.8	6.0	7.2	8.5	8.2	5.0	5.6	7.2	7.1	6.5	7.5	9.1	8.1

SEK million	Until Jan 2024	Until Oct 2024	Until Jul 2024	Until Apr 2023	Until Jan 2023	Until Oct 2023	Until Jul 2023	Until Apr 2022	Until Jan 2022	Until Oct 2022	Until Jul 2022	Until Apr 2021	Until Jan 2021	Until Oct 2021	Until Jul 2021	Until Apr 2020	Until Jan 2020	Until Oct 2020	Until Jul 2020	Until Apr 2019	Until Jan 2019	Until Oct 2019	Until Jul 2019	Until Apr 2018	Until Jan 2018	Until Oct 2018	Until Jul 2018	Until Apr 2017	Until Jan 2017	Until Oct 2017	Until Jul 2017	Until Apr 2016	Until Jan 2016	Until Oct 2016	Until Jul 2016	Until Apr 2015	Until Jan 2015	Until Oct 2015	Until Jul 2015
Summary
Net sales	12,316.6	12,533.3	12,383.9	12,057.9	11,590.8	10,825.3	10,192.8	9,634.4	9,181.3	8,907.1	8,709.6	8,519.1	8,341.6	8,484.4	8,760.8	8,914.8	9,027.6	8,899.4	8,567.7	8,326.4	8,009.7	7,764.5	7,476.8	7,301.3	7,207.4	7,149.5	7,055.0	6,863.7	6,639.2	6,340.1	6,195.3	6,112.5	6,106.2	6,121.5	6,051.6	5,882.3	1,431.6	1,554.5	1,393.8
Growth, %	6.3	15.8	21.5	25.2	26.2	21.5	17.0	13.1	10.1	5.0	-0.6	-4.4	-7.6	-4.7	2.3	7.1	12.7	14.6	14.6	14.0	11.1	8.6	6.0	6.4	8.6	12.8	13.9	12.3	8.7	3.6	2.4	3.9
Operating profit	1,464.5	1,669.0	1,466.7	1,401.4	858.3	712.1	829.8	769.8	751.5	728.2	704.2	676.7	559.9	564.5	634.9	625.8	683.6	651.1	556.1	528.0	419.1	406.7	361.7	349.7	392.2	429.6	438.9	439.0	453.5	378.5	359.6	344.1	337.0	361.0	383.0	376.9	54.1	156.3	111.4
Operating margin, %	11.9	13.3	11.8	11.6	7.4	6.6	8.1	8.0	8.2	8.2	8.1	7.9	6.7	6.7	7.2	7.0	7.6	7.3	6.5	6.3	5.2	5.2	4.8	4.8	5.4	6.0	6.2	6.4	6.8	6.0	5.8	5.6	5.5	5.9	6.3	6.4	3.8	10.1	8.0
Profit after financial items	1,336.1	1,543.2	1,346.0	1,294.9	789.9	701.1	801.2	741.6	702.8	674.5	654.7	564.0	415.7	408.1	482.2	543.7	630.4	611.6	525.5	458.0	392.3	370.8	336.7	333.2	345.7	368.1	380.8	410.1	418.7	368.9	331.2	307.4	306.3	341.4	379.3	380.5	54.1	156.3	111.4
Profit margin, %	10.8	12.3	10.9	10.7	6.8	6.5	7.9	7.7	7.7	7.6	7.5	6.6	5.0	4.8	5.5	6.1	7.0	6.9	6.1	5.5	4.9	4.8	4.5	4.6	4.8	5.1	5.4	6.0	6.3	5.8	5.3	5.0	5.0	5.6	6.3	6.5	3.8	10.1	8.0
Earnings per share, SEK	5.19	6.10	5.13	5.00	2.70	2.38	2.91	2.62	2.51	2.37	2.31	1.95	1.39	1.36	1.61	1.83	2.22	2.13	1.81	1.55	1.23	1.22	1.10	1.11	1.19	1.24	1.31	1.43	1.42	1.23	1.08	0.99	1.42	2.20	4.03	5.95	0.84	2.24	2.31
Earnings per share after full dilution, SEK	5.19	6.10	5.13	5.00	2.70	2.38	2.91	2.62	2.51	2.37	2.31	1.95	1.39	1.36	1.61	1.83	2.22	2.13	1.81	1.55	1.23	1.22	1.10	1.11	1.19	1.24	1.31	1.43	1.42	1.23	1.08	0.99	1.42	2.20	4.03	5.95	0.84	2.24	2.31
Income statements
Net sales	12,316.6	12,533.3	12,383.9	12,057.9	11,590.8	10,825.3	10,192.8	9,634.4	9,181.3	8,907.1	8,709.6	8,519.1	8,341.6	8,484.4	8,760.8	8,914.8	9,027.6	8,899.4	8,567.7	8,326.4	8,009.7	7,764.5	7,476.8	7,301.3	7,207.4	7,149.5	7,055.0	6,863.7	6,639.2	6,340.1	6,195.3	6,112.5	6,106.2	6,121.5	6,051.6	5,882.3	1,431.6	1,554.5	1,393.8
Cost of goods sold	-8,110.0	-8,242.4	-8,161.5	-7,948.5	-7,645.0	-7,162.9	-6,684.7	-6,315.3	-5,982.6	-5,794.5	-5,659.8	-5,559.5	-5,467.5	-5,558.1	-5,737.7	-5,831.2	-5,943.0	-5,896.4	-5,722.8	-5,597.6	-5,393.5	-5,206.2	-5,018.7	-4,887.2	-4,797.4	-4,746.5	-4,660.0	-4,502.5	-4,350.4	-4,152.0	-4,056.3	-4,010.5	-4,014.4	-4,026.6	-3,962.3	-3,857.6	-950.8	-985.8	-922.2
Gross profit	4,206.6	4,290.9	4,222.4	4,109.4	3,945.8	3,662.4	3,508.1	3,319.1	3,198.7	3,112.6	3,049.8	2,959.6	2,874.1	2,926.3	3,023.1	3,083.6	3,084.6	3,003.0	2,844.9	2,728.8	2,616.2	2,558.3	2,458.1	2,414.1	2,410.0	2,403.0	2,395.0	2,361.2	2,288.8	2,188.1	2,139.0	2,102.0	2,091.8	2,094.9	2,089.3	2,024.7	480.8	568.7	471.6
Other operating income	742.2	751.4	752.4	704.8	244.5	292.5	258.9	233.4	206.3	159.2	146.9	196.2	220.4	207.2	217.6	168.5	142.3	145.2	156.0	169.5	162.0	162.2	128.3	116.8	120.1	125.3	127.0	119.6	109.6	87.5	83.6	80.3	93.4	101.1	86.1	92.7	25.1	5.8	24.7
Selling expenses	-2,570.9	-2,562.4	-2,522.5	-2,459.8	-2,377.4	-2,273.1	-2,164.4	-2,077.5	-1,991.4	-1,929.1	-1,887.0	-1,861.3	-1,884.4	-1,922.6	-1,968.6	-1,987.6	-1,979.3	-1,934.0	-1,874.3	-1,827.0	-1,790.5	-1,752.6	-1,695.4	-1,652.7	-1,630.1	-1,611.2	-1,591.7	-1,548.2	-1,481.4	-1,432.2	-1,408.0	-1,399.8	-1,423.6	-1,406.9	-1,383.8	-1,352.7	-335.9	-325.3	-303.6
Administrative expenses	-595.4	-605.7	-598.3	-575.4	-542.6	-501.3	-471.3	-437.6	-431.4	-424.1	-421.1	-427.8	-419.8	-427.1	-427.2	-424.5	-423.8	-416.4	-405.2	-389.2	-379.5	-373.6	-365.1	-360.6	-365.4	-361.8	-365.6	-365.2	-351.4	-343.8	-340.0	-337.1	-334.8	-332.4	-326.8	-313.9	-85.0	-77.3	-66.5
Other operating expenses	-381.0	-249.4	-431.3	-419.1	-463.7	-502.1	-301.5	-267.6	-230.7	-190.4	-184.4	-190.0	-230.4	-219.3	-210.0	-214.2	-140.2	-146.7	-165.3	-154.1	-189.1	-187.6	-164.2	-167.9	-142.4	-125.7	-125.8	-128.4	-112.1	-121.1	-115.0	-101.3	-89.8	-95.7	-81.8	-73.9	-30.9	-15.6	-14.8
Net profit on monetary items	63.0	44.2	44.0	41.5	51.7	33.7	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Operating profit	1,464.5	1,669.0	1,466.7	1,401.4	858.3	712.1	829.8	769.8	751.5	728.2	704.2	676.7	559.9	564.5	634.9	625.8	683.6	651.1	556.1	528.0	419.1	406.7	361.7	349.7	392.2	429.6	438.9	439.0	453.5	378.5	359.6	344.1	337.0	361.0	383.0	376.9	54.1	156.3	111.4
Net financial items	-128.4	-125.8	-120.7	-106.5	-68.4	-11.0	-28.6	-28.2	-48.7	-53.7	-49.5	-112.7	-144.2	-156.4	-152.7	-82.1	-53.2	-39.5	-30.6	-70.0	-26.8	-35.9	-25.0	-16.5	-46.5	-61.5	-58.1	-28.9	-34.8	-9.6	-28.4	-36.7	-30.7	-19.6	-3.7	3.6	6.4	0.3	1.3
Profit before tax	1,336.1	1,543.2	1,346.0	1,294.9	789.9	701.1	801.2	741.6	702.8	674.5	654.7	564.0	415.7	408.1	482.2	543.7	630.4	611.6	525.5	458.0	392.3	370.8	336.7	333.2	345.7	368.1	380.8	410.1	418.7	368.9	331.2	307.4	306.3	341.4	379.3	380.5	60.5	156.6	112.7
Tax	-253.3	-266.7	-276.1	-250.2	-223.6	-210.9	-196.6	-197.3	-181.1	-176.7	-169.3	-153.4	-123.3	-122.1	-143.3	-158.3	-165.0	-165.9	-147.8	-136.8	-137.7	-119.4	-110.2	-103.1	-98.4	-111.6	-110.5	-115.9	-125.5	-113.5	-105.3	-100.3	-97.7	-102.1	-109.1	-70.8	-16.8	-40.0	7.5
Profit for the period	1,082.8	1,276.5	1,069.9	1,044.7	566.3	490.2	604.6	544.3	521.7	497.8	485.4	410.6	292.4	286.0	338.9	385.4	465.4	445.7	377.7	321.2	254.6	251.4	226.5	230.1	247.3	256.5	270.3	294.2	293.2	255.4	225.9	207.1	208.6	239.3	270.2	309.7	43.7	116.6	120.2
Profit attributable to minority interests	3.5	8.0	2.8	5.1	4.2	-4.9	-0.7	0.3	0.2	5.4	5.8	4.4	2.6	2.2	2.3	3.8	3.2	1.8	1.3	-1.0	0.0	-0.5	-0.9	-0.4	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit attributable to Parent Company's shareholders	1,079.3	1,268.5	1,067.1	1,039.6	562.1	495.1	605.3	544.0	521.5	492.4	479.6	406.2	289.8	283.8	336.6	381.6	462.2	443.9	376.4	322.2	254.6	251.9	227.4	230.5	247.3	256.5	270.3	294.2	293.2	255.4	225.9	207.1	208.6	239.3	270.2	309.7
Basic earning per share, SEK	5.2	6.1	5.1	5.0	3.3	2.4	2.9	2.6	2.5	2.4	2.3	2.0	1.4	1.4	1.6	1.8	2.2	2.1	1.8	1.5	1.2	1.2	1.1	1.1	1.2	1.2	1.3	1.4	1.4	1.2	1.1	1.0	1.0	1.2	1.3	1.5	0.2	0.6	0.6
Diluted earnings per share, SEK	5.2	6.1	5.1	5.0	3.3	2.4	2.9	2.6	2.5	2.4	2.3	2.0	1.4	1.4	1.6	1.8	2.2	2.1	1.8	1.5	1.2	1.2	1.1	1.1	1.2	1.2	1.3	1.4	1.4	1.2	1.1	1.0	1.0	1.2	1.3	1.5	0.2	0.6	0.6
Average number of shares during period, basic (thousand)	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000
Average number of shares during period, diluted (thousand)	208,121	208,118	208,102	208,063	208,028	208,000	208,000	208,000	208,000	208,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000
Balance sheets
Non-current assets
Goodwill	981.9	1,027.6	1,002.6	988.6	945.1	924.3	972.7	888.9	802.5	761.9	765.3	735.6	767.6	766.9	774.1	819.9	873.0	874.3	856.4	846.8	847.3	753.9	737.7	759.1	724.4	728.0	708.9	691.4	676.4	723.6	645.7	621.8	624.8	642.2	619.7	613.7	589.2	586.1	553.4
Other intangible assets	275.9	295.4	292.6	291.3	289.7	296.1	310.9	216.1	191.4	195.1	209.7	210.7	223.7	214.9	225.3	247.7	238.6	252.7	252.6	265.1	238.6	208.1	190.0	216.9	185.1	200.3	204.9	193.3	196.1	192.7	188.4	189.3	194.4	205.5	221.8	225.8	231.0	241.7	249.7
Tangible non-current assets	2,568.9	2,740.9	2,577.2	2,526.0	2,491.7	2,476.7	2,516.4	2,325.6	2,334.6	2,238.9	2,164.8	2,118.1	2,024.1	1,979.9	1,949.6	1,988.1	2,065.0	2,109.2	2,087.5	1,769.4	1,745.3	1,732.6	1,730.0	1,722.2	1,601.4	1,538.4	1,462.3	1,413.4	1,377.8	1,395.2	1,306.5	1,273.6	1,284.2	1,294.1	1,291.6	1,288.3	1,226.3	1,189.3	1,141.8
Financial non-current assets	256.7	209.4	188.1	179.9	213.7	211.2	206.8	193.6	234.5	223.3	221.2	237.5	264.3	263.7	257.9	254.9	244.5	228.0	257.9	267.6	253.1	257.2	253.7	240.4	222.1	201.9	201.9	200.6	202.1	199.8	174.7	180.5	182.1	175.2	179.1	180.0	169.7	162.4	166.9
Total non-current assets	4,083.4	4,273.3	4,060.5	3,985.8	3,940.2	3,908.3	4,006.8	3,624.2	3,563.0	3,419.2	3,361.0	3,301.9	3,279.7	3,225.4	3,206.9	3,310.6	3,421.1	3,464.2	3,454.4	3,148.9	3,084.3	2,951.8	2,911.4	2,938.6	2,733.0	2,668.6	2,578.0	2,498.7	2,452.4	2,511.3	2,315.3	2,265.2	2,285.5	2,317.0	2,312.2	2,307.8	2,216.2	2,179.5	2,111.8
Current Assets
Inventories	2,146.0	2,411.7	2,477.4	2,459.2	2,490.4	2,527.5	2,543.9	2,224.9	1,968.9	1,744.9	1,634.7	1,436.9	1,357.5	1,378.1	1,430.9	1,571.5	1,489.2	1,544.9	1,544.7	1,509.4	1,473.4	1,437.7	1,414.1	1,399.4	1,241.4	1,181.5	1,138.9	1,170.4	1,132.3	1,150.1	1,132.8	1,105.1	1,049.4	1,030.5	1,030.4	1,029.2	980.6	965.1	930.0
Current receivables	2,604.9	2,962.5	2,879.4	2,848.2	2,526.7	2,610.5	2,613.1	2,287.4	2,009.2	2,031.8	1,896.7	1,897.6	1,757.8	1,953.3	1,821.8	1,839.6	1,919.3	2,201.7	1,958.1	1,902.1	1,746.6	1,897.6	1,663.1	1,644.2	1,439.9	1,582.2	1,473.8	1,450.3	1,283.8	1,499.8	1,387.1	1,255.2	1,204.9	1,323.5	1,256.8	1,165.4	1,084.5	1,224.6	1,014.3
Cash & cash equivalents	416.6	428.7	429.1	339.9	334.4	332.2	311.3	335.9	327.7	359.3	348.0	319.1	324.0	344.1	307.9	378.2	328.0	321.0	301.4	250.4	256.2	431.9	234.3	212.8	194.9	208.3	270.0	241.8	212.9	229.3	236.6	176.9	198.6	242.3	214.6	187.8	158.8	188.7	179.0
Total current assets	5,167.5	5,802.9	5,785.9	5,647.3	5,351.5	5,470.2	5,468.3	4,848.2	4,305.8	4,136.0	3,879.4	3,653.6	3,439.3	3,675.5	3,560.6	3,789.3	3,736.5	4,067.6	3,804.2	3,661.9	3,476.2	3,767.2	3,311.5	3,256.4	2,876.2	2,972.0	2,882.7	2,862.5	2,629.0	2,879.2	2,756.5	2,537.2	2,452.9	2,596.3	2,501.8	2,382.4	2,223.9	2,378.4	2,123.3
Assets held for sale					865.4	832.9	0.0	0.0	0.0	7.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total assets	9,250.9	10,076.2	9,846.4	9,633.1	10,157.1	10,211.4	9,475.1	8,472.4	7,868.8	7,562.2	7,240.4	6,955.5	6,719.0	6,900.9	6,767.5	7,099.9	7,157.6	7,531.8	7,258.6	6,810.8	6,560.5	6,719.0	6,222.9	6,195.0	5,609.2	5,640.6	5,460.7	5,361.2	5,081.4	5,390.5	5,071.8	4,802.4	4,738.4	4,913.3	4,814.0	4,690.2	4,440.1	4,557.9	4,235.1
Equity and liabilities
Equity	5,346.2	5,605.2	5,592.5	5,272.5	4,724.9	4,467.8	4,167.4	3,853.5	3,717.7	3,458.8	3,501.1	3,330.1	3,205.5	3,193.7	3,024.1	3,084.7	3,151.4	3,092.6	2,986.7	2,839.2	2,709.6	2,664.9	2,629.0	2,620.3	2,461.9	2,434.2	2,403.2	2,381.3	2,312.1	2,358.2	2,280.4	2,108.2	2,066.3	2,101.1	2,163.7	2,082.2	2,061.5	2,010.4	2,047.3
Non-interst-bearing long-term liabilities	205.8	317.1	252.7	258.5	314.0	299.9	329.4	275.7	269.7	272.7	256.3	259.9	259.1	263.2	257.8	271.9	300.4	296.9	277.8	288.6	260.8	268.9	269.0	275.5	230.1	232.7	224.3	259.1	235.2	242.0	222.0	238.7	252.3	252.6	242.1	261.0	216.8	211.2	197.1
Interest-bearing long-term liabilities	715.2	765.7	702.6	671.6	1,446.6	1,640.9	1,532.7	1,230.8	1,073.4	1,046.0	1,053.4	1,051.5	1,044.0	1,063.3	1,062.9	1,119.8	1,179.7	1,257.1	1,148.5	1,070.0	1,090.3	847.1	764.5	690.7	389.2	368.2	379.4	319.3	372.1	416.3	268.3	196.7	229.5	251.9	280.6	245.4	270.2	262.2	315.8
Interest-bearing current liabilities	761.8	1,099.4	1,140.2	1,170.7	1,408.5	1,378.0	1,317.0	1,148.0	1,029.1	975.2	747.6	735.6	803.2	883.7	998.4	1,154.0	1,048.1	1,251.4	1,348.7	1,175.9	1,117.3	1,468.7	1,212.6	1,283.2	1,394.8	1,391.3	1,304.1	1,236.1	1,086.0	1,231.7	1,258.1	1,309.0	1,245.9	1,262.8	1,154.5	1,140.3	976.4	1,027.8	818.5
Non-interest-bearing current liabilities	2,221.9	2,288.8	2,158.4	2,259.8	2,042.6	2,197.3	2,128.6	1,964.4	1,778.9	1,802.5	1,682.0	1,578.4	1,407.2	1,497.0	1,424.3	1,469.5	1,478.0	1,633.8	1,496.9	1,437.1	1,382.5	1,469.4	1,347.8	1,325.3	1,133.2	1,214.2	1,149.7	1,165.4	1,076.0	1,142.3	1,043.0	949.8	944.4	1,044.8	973.1	961.3	915.2	1,046.3	856.4
Liabilities attritutable to available-for-sale assets	0.0	0.0	0.0	0.0	220.5	227.5	0.0	0.0	0.0	7.0
Total equity and liabilities	9,250.9	10,076.2	9,846.4	9,633.1	10,157.1	10,211.4	9,475.1	8,472.4	7,868.8	7,562.2	7,240.4	6,955.5	6,719.0	6,900.9	6,767.5	7,099.9	7,157.6	7,531.8	7,258.6	6,810.8	6,560.5	6,719.0	6,222.9	6,195.0	5,609.2	5,640.6	5,460.7	5,361.2	5,081.4	5,390.5	5,071.8	4,802.4	4,738.4	4,913.2	4,814.0	4,690.2	4,440.1	4,557.9	4,235.1
Cash flow statements in summary
Operating profit	1,464.5	657.0	334.9	1,401.4	666.9	389.4	269.6	769.8	578.4	447.1	209.6	676.7	503.6	395.6	182.1	625.7	569.4	456.8	173.0	528.1	414.0	333.9	144.9	349.6	344.5	276.8	132.9	439.0	391.3	286.2	133.0	344.1	281.8	251.7	117.5	376.8	321.8	267.7	111.4
Adjustments for non-cash items	293.6	216.0	125.4	113.4	418.8	328.2	106.2	354.5	287.0	205.9	88.7	391.5	252.7	169.4	71.4	349.9	266.6	189.6	78.3	193.1	117.5	68.5	17.7	220.4	124.3	78.8	16.0	158.4	114.1	112.6	46.3	143.8	117.9	69.5	39.5	199.5	168.0	107.3	32.4
Financial items	-71.4	-52.6	-22.5	-77.7	-50.9	-29.6	-11.3	-27.6	-18.2	-11.7	-8.0	-27.5	-20.7	-14.3	-8.2	-38.3	-30.1	-20.7	-8.0	-32.3	-22.4	-14.0	-6.6	-23.9	-16.3	-9.6	-5.7	-22.4	-15.6	-11.3	-5.6	-18.9	-14.2	-9.7	-4.7	-20.7	-15.1	-10.1	-4.9
Income tax paid	-187.4	-114.8	-49.3	-214.5	-176.1	-103.9	-55.5	-147.4	-145.9	-82.3	-40.5	-182.7	-150.0	-104.5	-47.8	-149.8	-112.6	-81.3	-45.0	-152.9	-115.1	-71.9	-35.8	-147.4	-99.4	-42.5	-31.7	-128.7	-94.3	-70.8	-23.6	-138.8	-99.6	-45.9	-22.1	-121.5	-65.7	-27.9	-2.0
Cash flow from operating activities before changes in working capital	1,499.3	705.6	388.5	1,222.6	858.7	584.1	309.0	949.3	701.3	559.0	249.8	858.0	585.6	446.2	197.5	787.5	693.3	544.4	198.3	536.0	394.0	316.5	120.2	398.7	353.1	303.5	111.5	446.3	395.5	316.7	150.1	330.2	285.9	265.6	130.2	434.1	409.0	337.0	136.9
Changes in working capital	377.5	33.8	-81.8	-634.9	-441.7	-445.8	-373.8	-714.1	-434.5	-318.9	-91.2	135.9	179.0	73.9	37.9	56.8	110.8	-53.1	-29.4	-149.5	-43.0	-154.6	-45.1	-173.9	-113.1	-130.0	-37.7	18.2	94.5	-35.2	-36.0	-161.3	-77.0	-95.1	-81.5	-192.8	-154.8	-160.2	-49.0
Cash flow from operating activities	1,876.8	739.4	306.7	587.7	417.0	138.3	-64.8	235.2	266.8	240.1	158.6	993.9	764.6	520.1	235.4	844.3	804.1	491.3	168.9	386.5	351.0	161.9	75.1	224.8	240.0	173.5	73.8	464.5	490.0	281.5	114.1	168.9	208.9	170.5	48.7	241.3	254.2	176.8	87.9
Cash flow from investing activities	-274.8	-251.7	-167.0	318.6	-533.8	-500.0	-407.4	-515.9	-268.2	-223.8	-107.9	-448.3	-323.7	-170.5	-93.0	-235.4	-199.9	-162.6	-55.4	-515.4	-463.0	-206.0	-101.6	-481.9	-392.2	-279.4	-161.4	-281.3	-246.2	-158.7	-26.2	-212.1	-171.9	-126.0	-43.8	-297.0	-173.9	-147.0	-85.9
Cash flow from financing activities	-776.4	-433.2	-70.5	-959.5	69.3	315.5	429.9	274.9	-11.7	32.1	-24.6	-557.2	-443.7	-343.0	-181.2	-461.1	-529.1	-263.3	-67.7	161.8	161.7	268.6	56.1	218.8	114.7	79.2	129.4	-134.5	-215.8	-93.1	-37.6	53.5	0.7	25.3	28.6	110.2	-40.0	33.6	48.2
Cash flow for the period	825.6	54.5	69.2	-53.2	-47.5	-46.2	-42.3	-5.8	-13.1	48.4	26.1	-11.6	-2.8	6.6	-38.8	147.8	75.1	65.4	45.8	32.9	49.7	224.5	29.6	-38.3	-37.5	-26.7	41.8	48.7	28.0	29.7	50.3	10.3	37.7	69.8	33.5	54.5	40.3	63.4	50.2
Cash & cash equivalents at start of period	339.9	339.9	339.9	335.9	335.9	335.9	335.9	319.1	319.1	319.1	319.1	378.2	378.2	378.2	378.2	250.4	250.4	250.4	250.4	213.3	213.3	213.3	213.3	241.8	241.8	241.8	241.8	176.9	176.9	176.9	176.9	187.8	187.8	187.8	187.8	123.3	123.3	123.3	123.3
Translation differences in cash	-14.4	34.3	20.0	57.2	61.3	48.2	17.7	22.6	21.7	-6.1	2.8	-47.5	-51.4	-40.7	-31.5	-20.0	2.5	5.2	5.2	4.2	-6.8	-5.9	-8.6	9.8	-9.4	-6.8	-13.6	16.2	8.0	22.7	9.4	-21.2	-26.9	-15.3	-6.7	10.0	-4.8	2.0	5.5
Cash & cash equivalents held for sale					-15.3	-5.7				-2.1
Cash & cash equivalents at the end of period	1,151.1	428.7	429.1	339.9	334.4	332.2	311.3	335.9	327.7	359.3	348.0	319.1	324.0	344.1	307.9	378.2	328.0	321.0	301.4	250.4	256.2	431.9	234.3	213.3	194.9	208.3	270.0	241.8	212.9	229.3	236.6	176.9	198.6	242.3	214.6	187.8	158.8	188.7	179.0
Key ratios/Alternative performance measures
Number of employees
The number of employees at the end of the accounting period. New employees, appointments terminated, part-time employees and paid overtime are converted into full-time equivalents.
Number of employees	6,518	6,588	6,616	6,587
Return on equity
Profit after tax before non-controlling interest, for the trailing 12 months (TTM), divided by average equity excluding non-controlling interest.
Profit after tax before minority share, rolling 12 month		1,277.0	1,069.9	1,044.7
Average equity		5,284.0	4,991.5	4,620.9
Return on equity, %	19.9	24.2	21.4	22.6	13.3	12.2	16.1	15.1	15.0	14.9	14.8	13.0	9.4	9.2	11.0	12.6	15.5	15.4	13.5	11.9	9.6	9.7	8.9	9.3	10.2	10.8	11.4	12.6	12.9	11.6	10.6	9.8	9.9	11.4	13.0	15.1	27.4	27.2	26.8
Return on capital employed, %
Profit after financial income, for the trailing 12 months (TTM), divided by average capital employed.
Profit after financial income, rolling 12		1,744.0	1,559.4	1,479.0
Average capital employed		7,466.0	7,460.4	7,355.1
Return on capital employed, %	20.7	23.4	20.9	20.1	13.3	12.2	14.7	14.5	14.9	14.2	14.3	13.1	10.2	10.1	11.2	11.6	12.6	12.6	11.1	11.3	8.8	8.8	8.2	9.1	9.3	10.4	10.8	12.0	11.9	10.5	10.1	10.2	9.3	10.5	12.4	12.5	19.8	18.9	18.1
EBITDA
Operating profit before depreciation and amortization
Operating profit	1,464.5	1,669.0	1,466.7	1,401.4	858.3	712.1	829.8	769.8	751.5	728.2	704.2	676.7	559.9	564.5	634.9	625.8	683.6	651.1	556.1	528.0	419.1	406.7	361.7	349.7	392.2	429.6	438.9	439.0	453.5	378.5	359.6	344.1	337.0	361.0	383.0	376.9	54.1	156.3	111.4
Depreciation and amortization	319.5	408.7	569.8	568.3	472.9	376.7	103.2	408.3	273.8	181.0	90.0	399.9	275.1	186.5	89.1	395.6	264.9	174.4	85.4	233.2	170.4	112.8	55.6	204.5	149.8	97.6	48.8	186.6	137.6	89.8	44.0	178.2	131.9	88.6	44.0	171.0	124.8	81.7	39.9
EBITDA	1,784.0	2,077.6	2,036.4	1,969.7
Equity per share
Equity divided by the number of shares at the end of the period
Equity	5,346.2	5,599.0	5,586.7	5,265.6
Number of shares, thousand	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	208,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000	52,000
Equity per share, SEK	25.7	26.9	26.9	25.3
Cash conversion
Operating profit before depreciation and amortization, rolling 12 months (TTM)
Non-cash provisions in working capital, rolling 12 months (TTM)
Change in working capital, rolling 12 months (TTM)
Investments in machinery and equipment, rolling 12 months (TTM)
Total
Operating profit, rolling 12 months (TTM)
Cash conversion, %
Net indebtedness
Interest-bearing liabilities + provision pensions reduced by cash and cash equivalents and short-term investments
Interest-bearing liabilities	1,476.9	1,865.1	1,842.8	1,842.3
Provisions for pensions	24.0	25.8	25.3	24.7
Cash and cash equivalents and short-term investments	421.6	434.0	435.1	343.7
Net indebtedness	1,079.3	1,456.8	1,433.0	1,523.3
Operating cash flow per share
Cash flow for the period from operating activities divided by the average number of shares during the period.
Cash flow for the period from operating activities	1,142.2	739.4	306.7	587.7
Number of shares, thousand	208,000	208,000	208,000	208,000
Operating cash flow per share, SEK	5.5	3.6	1.5	2.8
Organic growth
Change in sales by comparable units, adjusted for acquisitions and foreign currency effects.
Net sales for comparable units	12,401.0	12,139.8	11,705.6	11,168.8
Net sales previous year	11,590.3	10,825.3	10,192.9	9,634.5
Organic growth, %	7.0	12.1	14.8	15.9
Profit per share
Profit for the period attributable to the Parent Company's shareholders divided by the average number of shares during the period.
Profit attributable to the Parent Company's shareholders	1,079.3	1,268.5	1,067.1	1,039.6
Number of shares, thousand	208,000	208,000	208,000	208,000
Profit per share, SEK	5.2	6.1	5.1	5.0
Operating margin
Operating profit divided by net sales.
Operating profit	1,464.5	1,669.0	1,466.7	1,401.4
Net sales	12,316.6	12,533.3	12,383.9	12,057.9	8,929.1	5,885.6	2,848.9	9,634.4	6,972.8	4,694.7	2,290.5	8,519.1	6,310.6	4,306.7	2,100.0	8,914.8	6,883.8	4,737.1	2,254.0	8,326.4	6,182.6	4,164.1	2,012.7	7,301.3	5,474.2	3,700.9	1,837.2	6,863.7	5,130.5	3,415.1	1,645.9	6,112.5	4,603.8	3,187.5	1,563.1	5,882.3	4,379.9	2,948.3	1,393.8
Operating margin, %	11.9	13.3	11.8	11.6	7.4	6.6	8.1	8.0	8.2	8.2	8.1	7.9	6.7	6.7	7.2	7.0	7.6	7.3	6.5	6.3	5.2	5.2	4.8	4.8	5.4	6.0	6.2	6.4	6.8	6.0	5.8	5.6	5.5	5.9	6.3	6.4	3.8	10.1	8.0
Operating profit (EBIT)
Earnings before financial items and tax	1,464.5	1,669.0	1,466.7	1,401.4
Equity/assets ratio
Adjusted equity divided by total assets
Adjusted equity	5,339.3	5,605.2	5,592.5	5,265.6
Total assets	9,250.9	10,076.2	9,846.4	9,633.1
Equity/assets ratio, %	57.8	55.6	56.8	54.7	46.5	43.8	44.0	45.5	47.2	45.7	48.4	47.9	47.7	46.3	44.7	43.4	44.0	41.1	41.1	41.7	41.3	39.7	42.2	42.5	43.9	43.2	44.0	44.6	45.5	43.9	45.0	43.9	43.6	42.8	44.9	44.4	46.4	44.1	48.3
Capital employed
Total assets less non interest-bearing liabilities
Total assets	9,250.9	10,076.2	9,846.4	9,633.1
Non interest-bearing liabilities	2,413.4	2,502.5	2,371.3	2,472.3
Capital employed	6,837.8	7,573.7	7,475.1	7,160.8
Growth
Growth is defined as the change in net sales, relative to net sales for the preceding period
Net sales	12,316.6	12,533.3	12,383.9	12,057.9
Net sales previous year	11,590.8	10,825.3	10,192.9	9,634.5
Growth, %	6.3	15.8	21.5	25.2	26.2	21.5	17.0	13.1	10.1	5.0	-0.6	-4.4	-7.6	-4.7	2.3	7.1	12.7	14.6	14.6	14.0	11.1	8.6	6.0	6.4	8.6	12.8	13.9	12.3	8.7	3.6	2.4	3.9	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit margin
Profit after financial items divided by net sales
Profit after financial items	1,336.1	1,543.2	1,346.0	1,294.9	789.9	701.1	801.2	741.6	702.8	674.5	654.7	564.0	415.7	408.1	482.2	543.7	630.4	611.6	525.5	458.0	392.3	370.8	336.7	333.2	345.7	368.1	380.8	410.1	418.7	368.9	331.2	307.4	306.3	341.4	379.3	380.5	54.1	156.3	111.4
Net sales	12,316.6	12,533.3	12,383.9	12,057.9	11,590.8	10,825.3	10,192.8	9,634.4	9,181.3	8,907.1	8,709.6	8,519.1	8,341.6	8,484.4	8,760.8	8,914.8	9,027.6	8,899.4	8,567.7	8,326.4	8,009.7	7,764.5	7,476.8	7,301.3	7,207.4	7,149.5	7,055.0	6,863.7	6,639.2	6,340.1	6,195.3	6,112.5	6,106.2	6,121.5	6,051.6	5,882.3	1,431.6	1,554.5	1,393.8
Profit margin, %	10.8	12.3	10.9	10.7	6.8	6.5	7.9	7.7	7.7	7.6	7.5	6.6	5.0	4.8	5.5	6.1	7.0	6.9	6.1	5.5	4.9	4.8	4.5	4.6	4.8	5.1	5.4	6.0	6.3	5.8	5.3	5.0	5.0	5.6	6.3	6.5	3.8	10.1	8.0

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