Ten Year Overview

Statement of income 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
Net sales, SEK M 2966,0 6638.3 2900.5 233.6 95.4 10.3 68.6 60.9 38.5 27.5
Gross profit/loss, SEK M 988.9 3165.3 1,255.3 71.6 39.2 -5.7 -37.0 20.4 6.0 -1.0
Gross margin, % 33 48 43 31 41 -55 -46 33 16 -17
Operating profit/loss, SEK M 154.6 2578.5 912.9 -145.2 -34.0 -38.7 2.7 1.6 -24.7 -24.1
Operating margin, % 5 39 31 -62 -36 -375 5 3 -64 -88
Profit/loss for the period, SEK M 120.3 2034.7 798.3 -144.0 -32.9 -38.1 3.4 2.0 -24.6 -23.3
Profit margin, % 4 31 28.0 -62.0 -35.0 -375.0 5.0 3.3 -64.0 -85.0
Depreciation and amortization, SEK M -79.4 -48.6 -43,4 -32.1 -12.6 -10.8 -4.9 -6.4 -4.1 -3.5
Impairment, SEK M -29,5 -5,9
EBITDA, SEK M 234 2627.1 956.3 -83.6 -21.4 -27.9 8.2 8.3 -14.7 -20.8
Employees at period end 415 306 150 104 48 19 19 19 13 13
Statement of income Net sales, SEK M
2017 2966,0
2016 6638.3
2015 2900.5
2014 233.6
2013 95.4
2012 10.3
2011 68.6
2010 60.9
2009 38.5
2008 27.5
Statement of income Gross profit/loss, SEK M
2017 988.9
2016 3165.3
2015 1,255.3
2014 71.6
2013 39.2
2012 -5.7
2011 -37.0
2010 20.4
2009 6.0
2008 -1.0
Statement of income Gross margin, %
2017 33
2016 48
2015 43
2014 31
2013 41
2012 -55
2011 -46
2010 33
2009 16
2008 -17
Statement of income Operating profit/loss, SEK M
2017 154.6
2016 2578.5
2015 912.9
2014 -145.2
2013 -34.0
2012 -38.7
2011 2.7
2010 1.6
2009 -24.7
2008 -24.1
Statement of income Operating margin, %
2017 5
2016 39
2015 31
2014 -62
2013 -36
2012 -375
2011 5
2010 3
2009 -64
2008 -88
Statement of income Profit/loss for the period, SEK M
2017 120.3
2016 2034.7
2015 798.3
2014 -144.0
2013 -32.9
2012 -38.1
2011 3.4
2010 2.0
2009 -24.6
2008 -23.3
Statement of income Profit margin, %
2017 4
2016 31
2015 28.0
2014 -62.0
2013 -35.0
2012 -375.0
2011 5.0
2010 3.3
2009 -64.0
2008 -85.0
Statement of income Depreciation and amortization, SEK M
2017 -79.4
2016 -48.6
2015 -43,4
2014 -32.1
2013 -12.6
2012 -10.8
2011 -4.9
2010 -6.4
2009 -4.1
2008 -3.5
Statement of income Impairment, SEK M
2017
2016
2015
2014 -29,5
2013
2012
2011
2010
2009 -5,9
Statement of income EBITDA, SEK M
2017 234
2016 2627.1
2015 956.3
2014 -83.6
2013 -21.4
2012 -27.9
2011 8.2
2010 8.3
2009 -14.7
2008 -20.8
Statement of income Employees at period end
2017 415
2016 306
2015 150
2014 104
2013 48
2012 19
2011 19
2010 19
2009 13
2008 13

Financial position

Balance sheet 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
Intangible fixed assets, SEK M 1188.3 71.4 49.7 69.8 54.3 29.1 28.2 22.9 12.3 20.8
Tangible fixed assets, SEK M 46.6 29.2 20.6 18.8 5.4 4.8 4.2 3.7 0.3 0.3
Financial fixed assets, SEK M 1 0,9
Inventories, SEK M 646.1 672.7 153.0 98.8 19.9 11.4 4.3 7.9 9.1 15.4
Accounts receivable, SEK M 437.5 1132.1 617.9 115.8 31.1 6.2 53 17.2 9.7 8.4
Other receivables + Prepaid expenses, SEK M 313.1 435,4 36.6 19.5 10.1 3.1 3.2 3.8 2.3 1.4
Cash and cash equivalents + Current investments, SEK M 920.2 1162,2 1031.3 101.9 211.7 60.6 23 30.8 50.1 22.7
Shareholders’ equity, SEK M 2330.8 2226,1 1146.8 301.1 289.7 101.9 106.3 78 74.3 58.1
Deferred tax liability, SEK M 189.8 136,3 1,2
Non-current liabilities, SEK M 221.9 0,2 0,4 0,7
Current liabilities, SEK M 809.3 1140,6 763.2 123.3 42.3 12.7 9.3 8.3 9.5 10.9
Working capital, SEK M 1507.6 2261.8 1075.6 212.7 230.5 68.6 74.2 51.4 61.7 37
Balance-sheet total, SEK M 3551.8 3503 1910.1 424.6 332.5 115.3 116.8 86.3 83.8 69
Inventory turnover rate, days 120 43 29 132 94 181 74 103 154 211
Average credit period, days 95 47 46 113 99 1035 184 80 85 81
Return on capital employed, % 7 117 126 -48 -12 -44 3 2.6 -33 -40
Return on shareholders’ equity, % 5 121 110 -48 -12 -44 3 2.6 -132 -160
Return on capital employed, % 5 75 78 -34 -10 -38 3 2.3 -117 -135
Equity/asset ratio, % 66 64 60 71 87 87 91 90 89 84
Balance sheet Intangible fixed assets, SEK M
2017 1188.3
2016 71.4
2015 49.7
2014 69.8
2013 54.3
2012 29.1
2011 28.2
2010 22.9
2009 12.3
2008 20.8
Balance sheet Tangible fixed assets, SEK M
2017 46.6
2016 29.2
2015 20.6
2014 18.8
2013 5.4
2012 4.8
2011 4.2
2010 3.7
2009 0.3
2008 0.3
Balance sheet Financial fixed assets, SEK M
2017
2016
2015 1
2014
2013
2012
2011 0,9
2010
2009
2008
Balance sheet Inventories, SEK M
2017 646.1
2016 672.7
2015 153.0
2014 98.8
2013 19.9
2012 11.4
2011 4.3
2010 7.9
2009 9.1
2008 15.4
Balance sheet Accounts receivable, SEK M
2017 437.5
2016 1132.1
2015 617.9
2014 115.8
2013 31.1
2012 6.2
2011 53
2010 17.2
2009 9.7
2008 8.4
Balance sheet Other receivables + Prepaid expenses, SEK M
2017 313.1
2016 435,4
2015 36.6
2014 19.5
2013 10.1
2012 3.1
2011 3.2
2010 3.8
2009 2.3
2008 1.4
Balance sheet Cash and cash equivalents + Current investments, SEK M
2017 920.2
2016 1162,2
2015 1031.3
2014 101.9
2013 211.7
2012 60.6
2011 23
2010 30.8
2009 50.1
2008 22.7
Balance sheet Shareholders’ equity, SEK M
2017 2330.8
2016 2226,1
2015 1146.8
2014 301.1
2013 289.7
2012 101.9
2011 106.3
2010 78
2009 74.3
2008 58.1
Balance sheet Deferred tax liability, SEK M
2017 189.8
2016 136,3
2015
2014
2013
2012
2011 1,2
2010
2009
2008
Balance sheet Non-current liabilities, SEK M
2017 221.9
2016
2015
2014 0,2
2013 0,4
2012 0,7
2011
2010
2009
2008
Balance sheet Current liabilities, SEK M
2017 809.3
2016 1140,6
2015 763.2
2014 123.3
2013 42.3
2012 12.7
2011 9.3
2010 8.3
2009 9.5
2008 10.9
Balance sheet Working capital, SEK M
2017 1507.6
2016 2261.8
2015 1075.6
2014 212.7
2013 230.5
2012 68.6
2011 74.2
2010 51.4
2009 61.7
2008 37
Balance sheet Balance-sheet total, SEK M
2017 3551.8
2016 3503
2015 1910.1
2014 424.6
2013 332.5
2012 115.3
2011 116.8
2010 86.3
2009 83.8
2008 69
Balance sheet Inventory turnover rate, days
2017 120
2016 43
2015 29
2014 132
2013 94
2012 181
2011 74
2010 103
2009 154
2008 211
Balance sheet Average credit period, days
2017 95
2016 47
2015 46
2014 113
2013 99
2012 1035
2011 184
2010 80
2009 85
2008 81
Balance sheet Return on capital employed, %
2017 7
2016 117
2015 126
2014 -48
2013 -12
2012 -44
2011 3
2010 2.6
2009 -33
2008 -40
Balance sheet Return on shareholders’ equity, %
2017 5
2016 121
2015 110
2014 -48
2013 -12
2012 -44
2011 3
2010 2.6
2009 -132
2008 -160
Balance sheet Return on capital employed, %
2017 5
2016 75
2015 78
2014 -34
2013 -10
2012 -38
2011 3
2010 2.3
2009 -117
2008 -135
Balance sheet Equity/asset ratio, %
2017 66
2016 64
2015 60
2014 71
2013 87
2012 87
2011 91
2010 90
2009 89
2008 84

Cash flow 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
Cash flow from operating activities, SEK M 376.9 1130,3 910,4 -174.2 -28.8 14.5 -22.2 -0.6 -11.3 -17.1
Cash flow from investing activities, SEK M -1071 -78,3 -26 -90.6 -38.3 -11.4 -11.7 -20.4 -1.5 -7.8
Cash flow from financing activities, SEK M 481.7 -955,7 47.4 155 220.5 34.5 24.9 1.8 40.3 13.7
Cash flow for the period, SEK M 212.4 96.3 931.8 -109.8 151.1 37.6 -7.8 -19.3 27.5 -11.2
Cash flow Cash flow from operating activities, SEK M
2017 376.9
2016 1130,3
2015 910,4
2014 -174.2
2013 -28.8
2012 14.5
2011 -22.2
2010 -0.6
2009 -11.3
2008 -17.1
Cash flow Cash flow from investing activities, SEK M
2017 -1071
2016 -78,3
2015 -26
2014 -90.6
2013 -38.3
2012 -11.4
2011 -11.7
2010 -20.4
2009 -1.5
2008 -7.8
Cash flow Cash flow from financing activities, SEK M
2017 481.7
2016 -955,7
2015 47.4
2014 155
2013 220.5
2012 34.5
2011 24.9
2010 1.8
2009 40.3
2008 13.7
Cash flow Cash flow for the period, SEK M
2017 212.4
2016 96.3
2015 931.8
2014 -109.8
2013 151.1
2012 37.6
2011 -7.8
2010 -19.3
2009 27.5
2008 -11.2

Shares 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
Earnings per share, Kr 0.38 6.40 2.53 -0,49 -0,12 -0,17 0,02 0,01 -0,22 -0,24
Earnings per share after full dilution, SEK 0.38 6.33 2,48 -0,49 -0,12 -0,17 0,02 0,01 -0,22 -0,24
Cash and cash equivalents + investment at the end of the period/share, SEK 2.93 3.71 3,26 0,35 0,83 0,17 0,11 0,16 0,25 0,37
Equity per share, SEK 7.42 7.11 3,63 1,03 1,06 0,47 0,49 0,39 0,65 0,61
Equity per share, after full conversion, SEK 7.42 7.09 3,57 0,97 1,04 0,47 0,5 0,39 0,65 0,61
Cash flow from operations per average number of shares, SEK 1.2 3.56 2,86 -0,61 -0,11 0,14 -0,1 0 -0,1 -0,18
Shares at end of period, thousands 313 967 313 097 316 196 292 106 270 806 239 041 218 048 198 348 198 348 60 764
Average share during the period, thousands 313 967 317 727 315 349 287 574 254 470 228 841 216 943 210 719 89 283 101 419
Shares after dilution, average, thousands 313 967 321 409 321 372 310 306 276 441 230 362 216 943 210 719 89 283 101 419
Dividend per share, SEK 0 0 0 0 0 0 0 0 0 0
Share price at period end, SEK 15.81 62,85 118,2 7 10,9 2,5 1,9 1,8 0,7 0,5
Market capitalization at period end, SEK M 4 964 19 690 37 374 2 033 2 938 559 406 355 131 56
Shares Earnings per share, Kr
2017 0.38
2016 6.40
2015 2.53
2014 -0,49
2013 -0,12
2012 -0,17
2011 0,02
2010 0,01
2009 -0,22
2008 -0,24
Shares Earnings per share after full dilution, SEK
2017 0.38
2016 6.33
2015 2,48
2014 -0,49
2013 -0,12
2012 -0,17
2011 0,02
2010 0,01
2009 -0,22
2008 -0,24
Shares Cash and cash equivalents + investment at the end of the period/share, SEK
2017 2.93
2016 3.71
2015 3,26
2014 0,35
2013 0,83
2012 0,17
2011 0,11
2010 0,16
2009 0,25
2008 0,37
Shares Equity per share, SEK
2017 7.42
2016 7.11
2015 3,63
2014 1,03
2013 1,06
2012 0,47
2011 0,49
2010 0,39
2009 0,65
2008 0,61
Shares Equity per share, after full conversion, SEK
2017 7.42
2016 7.09
2015 3,57
2014 0,97
2013 1,04
2012 0,47
2011 0,5
2010 0,39
2009 0,65
2008 0,61
Shares Cash flow from operations per average number of shares, SEK
2017 1.2
2016 3.56
2015 2,86
2014 -0,61
2013 -0,11
2012 0,14
2011 -0,1
2009 -0,1
2008 -0,18
Shares Shares at end of period, thousands
2017 313 967
2016 313 097
2015 316 196
2014 292 106
2013 270 806
2012 239 041
2011 218 048
2010 198 348
2009 198 348
2008 60 764
Shares Average share during the period, thousands
2017 313 967
2016 317 727
2015 315 349
2014 287 574
2013 254 470
2012 228 841
2011 216 943
2010 210 719
2009 89 283
2008 101 419
Shares Shares after dilution, average, thousands
2017 313 967
2016 321 409
2015 321 372
2014 310 306
2013 276 441
2012 230 362
2011 216 943
2010 210 719
2009 89 283
2008 101 419
Shares Dividend per share, SEK
Shares Share price at period end, SEK
2017 15.81
2016 62,85
2015 118,2
2014 7
2013 10,9
2012 2,5
2011 1,9
2010 1,8
2009 0,7
2008 0,5
Shares Market capitalization at period end, SEK M
2017 4 964
2016 19 690
2015 37 374
2014 2 033
2013 2 938
2012 559
2011 406
2010 355
2009 131
2008 56

 

Definitions

Average credit period.
Average value of Accounts receivable over the period in relation to net sales, multiplied by 360 days.

Average number of shares 
Average number of shares during the period.

Average number of shares after dilution
Average number of shares plus an increase by the average number of shares that could be issued as a result of current remuneration and personnel programs.

Average number of shares at the end of the period
Number of shares less Treasury shares at the end of the period.

Cash flow from operating activities/share
Cash flow from operating activities after changes in working capital/average number of shares before and after dilution.

Cost of goods sold
Cost for materials, production expenses and amortization according to plan of capitalized development expenditure.

Earnings per share for the period
Profit/loss for the period/number of shares outstanding at period end.

Earnings per share after dilution
Earnings per share plus adjustment for the number of shares and the paid exercise price resulting from current remuneration and personnel programs.  Earnings per share after dilution can never exceed earnings per share before dilution.

EBITDA
Earnings Before Interest Taxes Depreciation and Amortization. Operating profit before financial income/expense, taxes, depreciation/amortization and impairment losses.

Equity/assets ratio
Shareholders’ equity divided by total assets.

Gross margin
Gross profit as a percentage of net sales.

Gross profit
Revenues less cost of goods sold.Inventory turnover rate, days.

Average value of inventory
Inventory over the period in relation to cost of goods sold, multiplied by 360 days.

Net margin
Profit for the period as a percentage of revenues.

Number of shares outstanding at period end
Number of shares less bought back shares held in treasury.

Operating margin
Operating profit as a percentage of revenues.

Operating profit
Operating profit before financial income/expenses and tax.

Profit for the period
Profit after financial income/expenses and tax.

Return on equity
Profit for the period in relation to average equity for the period.

Average equity 
Shareholders’ equity at the start of the period plus shareholders’ equity at the end of the period divided by two.

Revenue increase
This shows the increase in revenues compared with the corresponding year-earlier period shown as a percentage.

Shareholders’ equity per share
Shareholders’ equity attributable to the Parent Company’s shareholders divided by the number of shares outstanding, before dilution, at period-end.

Shareholders’ equity per share after dilution
See “Shareholders’ equity per share” plus adjustment for the number of shares and the paid exercise price resulting from current remuneration and personnel programs.

Working capital
Current assets less current non-interest-bearing provisions and liabilities.