Quarterly report January – September 2019
Group net sales for January-September 2019 amounted to SEK 38,696 million (37,388), which was an increase of three percent. After adjustments for acquired and divested units net sales increased by four percent compared to the same period last year.
Operating profit for January-September 2019 amounted to SEK 1,813 million compared to SEK 1,710 million for the same period last year.
Orders received for January-September 2019 amounted to SEK 32,034 million compared to SEK 40,636 million for the same period last year. Order backlog amounted to SEK 43,821 million compared to SEK 45,819 million at the end of 2018.
Group
| MSEK | Jul-Sep 2019 | Jul-Sep 2018 | Jan-Sep 2019 | Jan-Sep 2018 | Oct-Sep 2018/2019 | Jan-Dec 2018 | |
| Mkr | Jul-sep 2019 | Jul-sep 2018 | Jan-sep 2019 | Jan-sep 2018 | Okt-sep 2018/2019 | Jan-dec 2018 | |
| Net sales | Nettoomsättning | 13,001 | 12,445 | 38,696 | 37,388 | 53,541 | 52,233 |
| Operating profit | Rörelseresultat | 727 | 743 | 1,813 | 1,710 | 2,676 | 2,573 |
| Operating margin, % | Rörelsemarginal, % | 5.6 | 6.0 | 4.7 | 4.6 | 5.0 | 4.9 |
| Pre-tax profit | Resultat före skatt | 706 | 750 | 1,786 | 1,679 | 2,625 | 2,518 |
| Profit for the period | Periodens resultat | 589 | 604 | 1,501 | 1,394 | 2,207 | 2,100 |
| Earnings per share, SEK | Resultat per aktie, kr | 2.00 | 2.05 | 5.09 | 4.73 | 7.48 | 7.12 |
| Return on equity, % | Räntabilitet på eget kapital, % | 19.2 1) | 19.8 1) | 19.2 1) | 19.8 1) | 19.2 | 19.6 |
| Net debt 2) | Nettoskuld 2) | 7,942 | 4,441 | 7,942 | 4,441 | 7,942 | 3,551 |
| Equity/assets ratio, % 3) | Soliditet, % 3) | 29.6 | 29.4 | 29.6 | 29.4 | 29.6 | 30.4 |
| Cash flow before financing | Kassaflöde före finansiering | -341 | -876 | -1,103 | -1,970 | -154 | -1,021 |
| Number of employees at the end of the period | Antal anställda vid utgången av perioden | 14,475 | 14,866 | 14,475 | 14,866 | 14,475 | 14,614 |
2) Excluding additional IFRS 16, Leases net debt was SEK 7,169 million per September 30, 2019.
3) Excluding additional IFRS 16, Leases the equity/assets ratio was 30.1 percent per September 30, 2019.
Financial goals 1)
Goal > 25%
The goal for the equity/assets ratio is at least 25 percent. On September 30, 2019 the equity/assets ratio was 29.6 percent compared to 30.4 percent at the end of last year. Excluding additional IFRS 16, Leases the equity/assets ratio was 30.1 percent per September 30, 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 (19.8). 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. Dividend for 2018 of SEK 4.20 (4.00) per share corresponds to 59 percent (58) of profit for the year.