Year-end report January – December 2019
Group net sales for 2019 amounted to SEK 54,008 million (52,233), which was an increase of three percent. Even after adjustments for acquired and divested units net sales increased by three percent compared to the last year.
Operating profit for 2019 amounted to SEK 2,568 million compared to SEK 2,573 million for the last year.
Orders received for 2019 amounted to SEK 44,130 million compared to SEK 51,087 million for the last year. Order backlog amounted to SEK 42,494 million compared to SEK 45,819 million at the end of 2018.
Group
| MSEK | Oct-Dec 2019 | Oct-Dec 2018 | Jan-Dec 2019 | Jan-Dec 2018 | |
| Mkr | Okt-dec 2019 | Okt-dec 2018 | Jan-dec 2019 | Jan-dec 2018 | |
| Net sales | Nettoomsättning | 15,312 | 14,845 | 54,008 | 52,233 |
| Operating profit | Rörelseresultat | 755 | 863 | 2,568 | 2,573 |
| Operating margin, % | Rörelsemarginal, % | 4.9 | 5.8 | 4.8 | 4.9 |
| Pre-tax profit | Resultat före skatt | 724 | 839 | 2,510 | 2,518 |
| Profit for the period | Periodens resultat | 591 | 706 | 2,092 | 2,100 |
| Earnings per share, SEK | Resultat per aktie, kr | 2.00 | 2.39 | 7.09 | 7.12 |
| Return on equity, % | Räntabilitet på eget kapital, % | 17.9 1) | 19.6 1) | 17.9 | 19.6 |
| Net debt 2) | Nettoskuld 2) | 7,507 | 3,551 | 7,507 | 3,551 |
| Equity/assets ratio, % 3) | Soliditet, % 3) | 31.7 | 30.4 | 31.7 | 30.4 |
| Cash flow before financing | Kassaflöde före finansiering | 552 | 949 | -551 | -1,021 |
| Number of employees at the end of the period | Antal anställda vid utgången av perioden | 14,258 | 14,614 | 14,258 | 14,614 |
2) Excluding additional IFRS 16, Leases net debt was SEK 6,743 million per December 31, 2019.
3) Excluding additional IFRS 16, Leases the equity/assets ratio was 32.3 percent per December 31, 2019.
Financial goals 1)
Goal > 25%
The goal for the equity/assets ratio is at least 25 percent. On December 31, 2019 the equity/assets ratio was 31.7 percent compared to 30.4 percent at the end of last year. Excluding additional IFRS 16, Leases the equity/assets ratio was 32.3 percent per December 31, 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 was 17.9 percent (19.6).
Goal > 50%
The goal for dividends is at least 50 percent of profit for the year. The Board’s proposal for a dividend for 2019 of SEK 4.20 (4.20) per share corresponds to 59 percent (59) of profit for the year. In addition, the Board has proposed an extra distribution of a real estate company. Fore more information see page 18.