Quarterly report January – March 2019
Group net sales for the first quarter 2019 amounted to SEK 11,359 million (11,490), which was a decrease of one percent. Even after adjustments for acquired and divested units net sales decreased by one percent compared to the same period last year.
Operating profit for the first quarter 2019 amounted to SEK 265 million compared to SEK 290 million for the same period last year.
Orders received for the first quarter 2019 amounted to SEK 11,868 million compared to SEK 12,906 million for the same period last year. Order backlog amounted to SEK 47,532 million compared to SEK 45,819 million at the end of 2018.
Group
| MSEK | Jan-Mar 2019 | Jan-Mar 2018 | Apr-Mar 2018/2019 | Jan-Dec 2018 | |
| Mkr | Jan-mar 2019 | Jan-mar 2018 | Apr-mar 2018/2019 | Jan-dec 2018 | |
| Net sales | Nettoomsättning | 11,359 | 11,490 | 52,102 | 52,233 |
| Operating profit | Rörelseresultat | 265 | 290 | 2,548 | 2,573 |
| Operating margin, % | Rörelsemarginal, % | 2.3 | 2.5 | 4.9 | 4.9 |
| Pre-tax profit | Resultat före skatt | 269 | 256 | 2,531 | 2,518 |
| Profit for the period | Periodens resultat | 224 | 218 | 2,106 | 2,100 |
| Earnings per share, SEK | Resultat per aktie, kr | 0.76 | 0.74 | 7.14 | 7.12 |
| Return on equity, % | Räntabilitet på eget kapital, % | 19.2 1) | 20.1 1) | 19.2 | 19.6 |
| Net debt 2) | Nettoskuld 2) | 4,349 | 1,709 | 4,349 | 3,551 |
| Equity/assets ratio, % 3) | Soliditet, % 3) | 31.5 | 33.4 | 31.5 | 30.4 |
| Cash flow before financing | Kassaflöde före finansiering | 559 | -390 | -72 | -1,021 |
| Number of employees at the end of the period | Antal anställda vid utgången av perioden | 14,280 | 14,357 | 14,280 | 14,614 |
2) Excluding additional IFRS 16, Leases net debt was SEK 3,534 million per 31 March 2019.
3) Excluding additional IFRS 16, Leases the equity/assets ratio was 32.2 percent per 31 March 2019.
Financial goals 1)
Goal > 25%
The goal for the equity/assets ratio is at least 25 percent. On 31 March 2019 the equity/assets ratio was 31.5 percent compared to 30.4 percent at the end of last year. Excluding additional IFRS 16, Leases the equity/assets ratio was 32.2 percent per 31 March 2019.
1) Years 2011-2015 have not been recalculated taking IFRS 15 into account.
Goal > 20%
The goal for return on equity is a yield of at least 20 percent. The return on equity calculated on a rolling 12 months period was 19.2 percent (20.1). For full year 2018 the return on equity amounted to 19.6 percent.
Goal > 50%
The goal for dividends is at least 50 percent of profit for the year. The Board’s proposal for a dividend in 2018 of SEK 4.20 (4.00) per share corresponds to 59 percent (58) of profit for the year.