Quarterly report January – September 2018

Net sales 1)

Group net sales for January-September 2018 amounted to SEK 37,388 million (35,491), which was an increase of five percent. After adjustments for acquired and divested units net sales increased by four percent compared to the same period last year.

Operating profit 1)

Operating profit for January-September 2018 amounted to SEK 1,710 million compared to SEK 1,665 million for the same period last year.

Orders received 1)

Orders received for January-September 2018 amounted to SEK 40,636 million compared to SEK 35,960 million for the same period last year. Order backlog amounted to SEK 48,036 million compared to SEK 40,205 million at the end of 2017.

Group 1)

MSEK Jul-Sep
2018
Jul-Sep
2017
Jan-Sep
2018
Jan-Sep
2017
Oct-Sep
2017/2018
Jan-Dec
2017
Mkr Jul-sep
2018
Jul-sep
2017
Jan-sep
2018
Jan-sep
2017
Okt-sep
2017/2018
Jan-dec
2017
Net sales Nettoomsättning 12,445 11,595 37,388 35,491 51,878 49,981
Operating profit Rörelseresultat 743 714 1,710 1,665 2,463 2,418
Operating margin, % Rörelsemarginal, % 6.0 6.2 4.6 4.7 4.7 4.8
Pre-tax profit Resultat före skatt 750 705 1,679 1,633 2,504 2,458
Profit for the period Periodens resultat 604 585 1,394 1,387 2,074 2,067
Earnings per share, SEK Resultat per aktie, kr 2.05 1.98 4.73 4.70 7.04 7.01
Return on equity, % Räntabilitet på eget kapital, % 19.8 2) 20.1 2) 19.8 2) 20.1 2) 19.8 21.3
Net debt Nettoskuld 4,441 2,347 4,441 2,347 4,441 1,216
Equity/assets ratio, % Soliditet, % 29.4 30.4 29.4 30.4 29.4 32.2
Cash flow before financing Kassaflöde före finansiering -876 104 -1,970 787 -462 2,295
Number of employees at the end of the period Antal anställda vid periodens utgång 14,866 14,606 14,866 14,606 14,866 14,344

1) Recalculated taking IFRS 15 into account. 2) Calculated on rolling 12 months.

Financial goals 3)

Equity/assets ratio
* As of September 30 2018

Goal > 25%

The goal for the equity/assets ratio is at least 25 percent. On 30 September 2018 the equity/assets ratio was 29.4 percent compared to 32.2 percent at the end of last year.

3) Years 2010-2015 have not been recalculated taking IFRS 15 into account.

Return on equity
* Rolling 12 months as of September 30 2018

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 2017 the return on equity amounted to 21.3 percent.

Dividends

Goal > 50%

The goal for dividends is at least 50 percent of profit for the year. Dividend for 2017 of SEK 4.00 (3.60) per share corresponds to 58 percent (61) of profit for the year.