2018 in summary
- Net sales increased by five percent and amounted to SEK 52,233 million (49,981). A favorable construction and civil engineering market has positively affected the business areas in 2018.
- Operating profit increased by six percent to SEK 2,573 million (2,418) and operating margin improved to 4.9 percent (4.8).
- Construction and Civil Engineering, which perform contract work, had stable margin levels during the year while Industry improved profitability, primarily as a result of higher volumes in the construction and civil engineering market. In Project Development lower activity in Housing Development Sweden, mainly in Stockholm, has largely been countered by better profit contributions from wholly owned or partially owned companies in Property Development.
- Orders received increased by four percent to SEK 51,087 million (48,999). The increase is related to business areas Construction and Civil Engineering.
- Order backlog per 31 December 2018 was a record high SEK 45,819 million (40,205) with a broad range of products and well spread geographically.
- Cash flow before financing amounted to SEK -1 021 million (2,295).
- Net debt amounted to SEK 3,551 million (1,216).
- Cash flow and net debt have been affected by an increase in tied up working capital through in part ongoing housing projects in Norway and Finland and more investments in project and development property. In addition, we have continued to invest in machines and developing operations and investment property.
- Equity/assets ratio amounted to 30.4 percent (32.2).
- Return on equity amounted to 19.6 percent (21.3).
- The Board proposes a dividend increased to SEK 4.20 per share (4.00), which corresponds to 59 percent (58) of profit for the year.
Financial summary
| 2018 | 2017 | 2016 | Financial goals | ||
| 2018 | 2017 | 2016 | Finansiella mål | ||
| Net sales, MSEK | Nettoomsättning, Mkr | 52,233 | 49,981 | 46,054 | |
| Operating profit, MSEK | Rörelseresultat, Mkr | 2,573 | 2,418 | 2,044 | |
| Operating margin, % | Rörelsemarginal, % | 4.9 | 4.8 | 4.4 | |
| Pre-tax profit, MSEK | Resultat före skatt, Mkr | 2,518 | 2,458 | 1,996 | |
| Profit for the year, MSEK | Årets resultat, Mkr | 2,100 | 2,067 | 1,685 | |
| Profit per share, SEK | Resultat per aktie, kr | 7.12 | 7.01 | 5.71 | |
| Dividend per share, SEK 1) | Utdelning per aktie, kr 1) | 4.20 | 4.00 | 3.60 | > 50% |
| Return on equity, % | Räntabilitet på eget kapital,% | 19.6 | 21.3 | 19.6 | > 20% |
| Equity/assets ratio, % | Soliditet, % | 30.4 | 32.2 | 29.8 | > 25% |
| Cash flow before financing, MSEK | Kassaflöde före finansiering, Mkr | -1,021 | 2,295 | 2,651 | |
| Net debt, MSEK | Nettoskuld, Mkr | 3,551 | 1,216 | 1,862 | |
| Orders received, MSEK 2) | Orderingång, Mkr 2) | 51,087 | 48,999 | 41,445 | |
| Order backlog on 31 December, MSEK 2) | Orderstock per 31 december, Mkr 2) | 45,819 | 40,205 | 33,572 | |
| Number of employees on 31 December | Antal anställda per 31 december | 14,614 | 14,344 | 13,869 |
1) Board of Directors’ proposal to the AGM for 2018
2) As of 2017 orders received and order backlog also include part of business area Industry
2) As of 2017 orders received and order backlog also include part of business area Industry
Financial goals
Return on equity
Goal>20%
Equity/assets ratio
Goal>25%
Dividends
Goal>50% of the profit for the year
* Not recalculated taking IFRS 15 into account, ** Board of Directors’ proposal for 2018