Group summary


	3 months		Rolling 12 months
SEKm	31 Mar 2022	31 Mar 2021	31 Mar 2022	31 Mar 2021
Net sales	3,916	2,927	14,038	11,336
Cost of sales	-2,707	-2,016	-9,717	-7,863
Gross profit	1,209	911	4,321	3,473
Selling expenses	-596	-497	-2,124	-1,843
Administrative expenses	-200	-162	-753	-637
Other operating income and expenses	23	14	57	-4
Operating profit	436	266	1,501	989
- as % of net sales	11.1	9.1	10.7	8.7
Financial income and expenses	-22	-15	-68	-52
Profit after financial items	414	251	1,433	937
- as % of net sales	10.6	8.6	10.2	8.3
Income tax expense	-89	-61	-316	-208
Profit for the period	325	190	1,117	729

Profit for the period attributable to:
Equity holders of the Parent Company	313	183	1,074	706
Non-controlling interests	12	7	43	23

Earnings per share before dilution, SEK	1.20	0.65	4.00	2.60
Earnings per share after dilution, SEK	1.15	0.65	3.95	2.60

Average number of shares after repurchases, ’000s	269,511	269,234	269,400	269,051
Number of shares after repurchases at end of the period, ’000s	269,528	269,275	269,528	269,275


	3 months		Rolling 12 months
SEKm	31 Mar 2022	31 Mar 2021	31 Mar 2022	31 Mar 2021
Profit for the period	325	190	1,117	729
Items that may be reclassified to profit or loss
Cash flow hedges	0	3	2	-3
Foreign currency translation differences for the period	64	147	99	-142
Items that will not be reclassified to profit or loss
Actuarial effects of the net pension obligation	23	39	18	15
Other comprehensive income	87	189	119	-130
Total comprehensive income	412	379	1,236	599

Total comprehensive income attributable to:
Equity holders of the Parent Company	398	369	1,190	580
Non-controlling interests	14	10	46	19


SEKm	31 Mar 2022	31 Mar 2021
Goodwill	3,306	2,727
Other intangible non-current assets	2,062	1,769
Property, plant and equipment	1,057	1,008
Other non-current assets	65	60
Total non-current assets	6,490	5,564
Inventories	2,569	1,661
Current receivables	2,931	2,161
Cash and cash equivalents	437	420
Total current assets	5,937	4,242
Total assets	12,427	9,806
Total equity	4,259	3,450
Interest-bearing provisions	314	336
Non-interest-bearing provisions	500	388
Non-current interest-bearing liabilities	2,136	2,056
Non-current non-interest-bearing liabilities	9	9
Total non-current liabilities	2,959	2,789
Non-interest-bearing provisions	72	56
Current interest-bearing liabilities	2,048	1,162
Current non-interest-bearing liabilities	3,089	2,349
Total current liabilities	5,209	3,567
Total equity and liabilities	12,427	9,806


SEKm	31 Mar 2022	31 Mar 2021
Opening balance	3,450	3,076
Exercised, issued and repurchased options	10	25
Repurchase of treasury shares	-	-
Dividend, ordinary	-323	-269
Dividend, non-controlling interests	-15	-4
Change non-controlling interests	58	158
Option debt, acquisition	-157	-135
Total comprehensive income	1,236	599
Closing balance	4,259	3,450


	3 months		Rolling 12 months
SEKm	31 Mar 2022	31 Mar 2021	31 Mar 2022	31 Mar 2021
Profit after financial items	414	251	1,433	937
Adjustment for items not included in cash flow	174	151	594	551
Income tax paid	-102	-81	-416	-320
Changes in working capital	-170	132	-490	335
Cash flow from operating activities	316	453	1,121	1,503
Net investments in non-current assets	-51	-34	-116	-79
Acquisitions and disposals	-428	-165	-1,139	-1,219
Cash flow from investing activities	-479	-199	-1,255	-1,298
Dividend paid to shareholders	-	-	-323	-269
Repurchase of own shares/change of options	7	5	10	25
Other financing activities	106	-328	460	106
Cash flow from financing activities	113	-323	147	-138
Cash flow for the period	-50	-69	13	67
Cash and cash equivalents at beginning of period	478	454	420	363
Exchange differences on cash and cash equivalents	9	35	4	-10
Cash and cash equivalents at end of period	437	420	437	420


	31 Mar 2022			31 Mar 2021
SEKm	Carrying amount	Level 2	Level 3	Carrying amount	Level 2	Level 3
Derivatives - fair value, hedge instruments	6	6	-	2	2	-
Derivatives - fair value through profit	4	4	-	2	2	-
Total financial assets at fair value per level	10	10	-	4	4	-

Derivatives - fair value, hedge instruments	3	3	-	3	3	-
Derivatives - fair value through profit	12	12	-	4	4	-
Contingent considerations - fair value through profit	349	-	349	267	-	267
Total financial liabilities at fair value per level	364	15	349	274	7	267

The fair value and carrying amount are recognised in the balance sheet as shown in the table above. For quoted securities, the fair value is determined on the basis of the asset’s quoted price in an active market, level 1. As at the reporting date the Group had no items in this category. For currency contracts and embedded derivatives, the fair value is determined on the basis of observable market data, level 2. For contingent considerations, a cash-flow-based valuation is performed, which is not based on observable market data, level 3. For the Group’s other financial assets and liabilities, fair value is estimated to be the same as the carrying amount.

Contingent considerations	31 Mar 2022		31 Mar 2021
Opening balance		267		151
Acquisitions during the year		170		170
Reversed through profit or loss		-8		9
Consideration paid		-96		-64
Interest expenses		12		9
Exchange differences		4		-8
Closing balance		349		267


	12 months ending
	31 Mar 2022	31 Mar 2021	31 Mar 2020	31 Mar 2019
Net sales, SEKm	14,038	11,336	11,735	10,148
EBITDA, SEKm	2,077	1,501	1,579	1,137
EBITA, SEKm	1,803	1,251	1,364	1,085
EBITA-margin, %	12.8	11.0	11.6	10.7
Operating profit, SEKm	1,501	989	1,161	910
Operating margin, %	10.7	8.7	9.9	9.0
Profit after financial items, SEKm	1,433	937	1,105	865
Profit for the period, SEKm	1,117	729	873	672

Working capital	2,618	2,416	2,415	2,029
Return on working capital (P/WC), %	69	52	56	53
Return on equity, %	30	23	32	29
Return on capital employed, %	20	15	21	21
Equity ratio, %	34	35	36	36

Financial net debt, SEKm	4,061	3,134	2,585	1,960
Debt / equity ratio, multiple	1.0	0.9	0.8	0.8
Financial net debt / EBITDA, multiple	2.0	2.1	1.6	1.7
Net debt excl. pensions, SEKm	3,747	2,798	2,253	1,700
Net debt, excl pensions / equity ratio, multiple	0.9	0.8	0.7	0.7
Interest coverage ratio, multiple	22.4	15.8	20.5	22.1

Average number of employees	3,317	3,068	2,913	2,590
Number of employees at end of the period	3,556	3,133	2,981	2,759


	12 months ending
SEK	31 Mar 2022	31 Mar 2021	31 Mar 2020	31 Mar 2019
Earnings per share before dilution	4.00	2.60	3.20	2.45
Earnings per share after dilution	3.95	2.60	3.20	2.45
Cash flow from operating activities per share	4.15	5.60	4.15	1.95
Shareholders’ equity per share	14.60	11.95	11.25	9.20
Share price at the end of the period	182.00	130.00	61.13	48.25
Average number of shares after repurchases, ’000s	269,400	269,051	268,493	268,187
Average number of shares adjusted for repurchases and dilution, ’000s	270,346	269,969	269,200	268,755
Number of shares outstanding at end of the period, ’000s	269,528	269,275	268,594	268,228

For definitions of key financial indicators, see page 23-25.

YEAR-END REPORT 2021/2022