Half-year report January – June 2019

Net sales

Group net sales for the first half-year 2019 amounted to SEK 25,695 million (24,943), which was an increase of three percent. Even after adjustments for acquired and divested units net sales increased by three percent compared to the same period last year.

Operating profit

Operating profit for the first half-year 2019 amounted to SEK 1,086 million compared to SEK 967 million for the same period last year.

Orders received

Orders received for the first half-year 2019 amounted to SEK 22,685 million compared to SEK 29,163 million for the same period last year. Order backlog amounted to SEK 45,873 million compared to SEK 45,819 million at the end of 2018.

Group

1) Calculated on rolling 12 months.
2) Excluding additional IFRS 16, Leases net debt was SEK 6,414 million per June 30, 2019.
3) Excluding additional IFRS 16, Leases the equity/assets ratio was 28.1 percent per June 30, 2019.

Financial goals 1)

Equity/assets ratio
* As of June 30, 2019

Goal > 25%

The goal for the equity/assets ratio is at least 25 percent. On June 30, 2019 the equity/assets ratio was 27.6 percent compared to 30.4 percent at the end of last yearExcluding additional IFRS 16, Leases the equity/assets ratio was 28.1 percent per June 30, 2019.

1) Years 2011-2015 have not been recalculated taking IFRS 15 into account.

Return on equity
* Rolling 12 months as of June 30, 2019

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 19.8 percent (20.1). For full year 2018 the return on equity amounted to 19.6 percent.

Dividends

Goal > 50%

The goal for dividends is at least 50 percent of profit for the year. Dividend for 2018 of SEK 4.20 (4.00) per share corresponds to 59 percent (58) of profit for the year.