Multi-year summary1
SEKm |
2016 |
2015 |
2014 |
2013 2) |
2012 2) |
2011 |
2010 |
2009 |
2008 |
2007 |
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INCOME STATEMENT |
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Net sales 3) |
117,314 |
115,316 |
104,054 |
92,873 |
89,229 |
81,337 |
82,731 |
109,358 |
110,449 |
105,913 |
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Operating profit 4) |
11,279 |
10,947 |
10,449 |
9,142 |
6,426 |
2,299 |
7,793 |
8,190 |
8,554 |
10,147 |
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Personal Care |
4,255 |
3,990 |
3,526 |
3,519 |
3,437 |
2,645 |
2,922 |
3,235 |
2,912 |
2,960 |
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Tissue |
8,155 |
7,217 |
6,652 |
5,724 |
4,778 |
3,150 |
3,041 |
3,946 |
2,375 |
1,724 |
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Packaging |
– |
– |
– |
– |
– |
– |
– |
413 |
1,493 |
2,651 |
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Forest products |
2,211 |
2,605 |
2,505 |
1,843 |
1,363 |
2,423 |
2,915 |
2,503 |
2,207 |
2,870 |
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Other operations 5) |
–3,342 |
–2,865 |
–2,234 |
–1,944 |
–3,152 |
–5,919 |
–1,085 |
–1,907 |
–433 |
–58 |
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Financial income 6) |
132 |
205 |
217 |
132 |
107 |
129 |
57 |
158 |
246 |
193 |
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Financial expenses |
–1,051 |
–1,160 |
–1,178 |
–1,193 |
–1,430 |
–1,454 |
–1,227 |
–1,802 |
–2,563 |
–2,103 |
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Profit before tax |
10,360 |
9,992 |
9,488 |
8,081 |
5,103 |
974 |
6,623 |
6,546 |
6,237 |
8,237 |
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Tax |
–4,348 |
–2,540 |
–2,420 |
–2,220 |
–364 |
–1,267 |
–1,755 |
–1,716 |
–639 |
–1,076 |
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Profit for the period from disposal group |
– |
– |
– |
– |
503 |
900 |
724 |
– |
– |
– |
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Profit for the period |
6,012 |
7,452 |
7,068 |
5,861 |
5,242 |
607 |
5,592 |
4,830 |
5,598 |
7,161 |
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BALANCE SHEET |
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Non-current assets (excl. financial receivables) |
122,837 |
109,839 |
112,345 |
106,356 |
96,516 |
83,428 |
105,655 |
111,745 |
113,866 |
104,150 |
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Receivables and inventories |
35,797 |
35,194 |
34,124 |
31,077 |
29,736 |
25,577 |
31,890 |
30,605 |
36,121 |
33,793 |
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Non-current assets held for sale |
156 |
120 |
60 |
32 |
1,937 |
3,379 |
93 |
105 |
102 |
55 |
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Financial receivables |
1,908 |
1,403 |
3,140 |
3,190 |
3,577 |
2,083 |
3,254 |
2,062 |
2,499 |
3,663 |
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Current financial assets |
568 |
774 |
1,252 |
536 |
401 |
292 |
220 |
194 |
642 |
366 |
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Cash and cash equivalents |
4,482 |
5,042 |
3,815 |
3,785 |
2,118 |
2,644 |
1,866 |
5,148 |
5,738 |
3,023 |
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Assets in disposal group held for sale |
– |
– |
– |
– |
– |
21,601 |
– |
– |
– |
– |
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Total assets |
165,748 |
152,372 |
154,736 |
144,976 |
134,285 |
139,004 |
142,978 |
149,859 |
158,968 |
145,050 |
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Equity |
73,142 |
70,401 |
67,622 |
63,271 |
59,706 |
60,752 |
67,255 |
67,156 |
66,450 |
63,590 |
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Non-controlling interests |
6,377 |
5,290 |
5,250 |
4,540 |
1,993 |
539 |
566 |
750 |
802 |
689 |
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Provisions |
17,320 |
13,847 |
15,295 |
13,079 |
14,027 |
12,651 |
13,908 |
13,351 |
13,292 |
14,199 |
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Interest-bearing debt |
36,717 |
34,980 |
39,692 |
39,305 |
35,204 |
37,834 |
37,297 |
44,766 |
52,886 |
42,323 |
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Operating and other non-interest bearing liabilities |
32,192 |
27,854 |
26,877 |
24,781 |
23,355 |
19,627 |
23,952 |
23,836 |
25,538 |
24,249 |
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Liabilities in disposal group held for sale |
– |
– |
– |
– |
– |
7,601 |
– |
– |
– |
– |
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Total liabilities and equity |
165,748 |
152,372 |
154,736 |
144,976 |
134,285 |
139,004 |
142,978 |
149,859 |
158,968 |
145,050 |
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Capital employed 7) |
111,980 |
108,549 |
105,409 |
95,349 |
87,059 |
83,374 |
84,664 |
112,264 |
105,955 |
96,368 |
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Net debt, incl. pension liabilities |
–35,361 |
–29,478 |
–35,947 |
–33,919 |
–33,063 |
–36,648 |
–34,406 |
–40,430 |
–47,002 |
–37,368 |
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CASH FLOW STATEMENT |
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Operating cash flow |
14,948 |
12,921 |
11,184 |
8,893 |
9,927 |
7,418 |
8,725 |
14,133 |
7,813 |
8,127 |
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Cash flow from current operations |
10,382 |
9,890 |
8,149 |
6,252 |
7,441 |
5,306 |
6,490 |
11,490 |
3,810 |
4,508 |
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Cash flow before dividend |
9 |
7,001 |
6,031 |
574 |
8,279 |
2,671 |
5,049 |
8,483 |
77 |
1,473 |
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Current capital expenditures |
–5,181 |
–4,162 |
–3,737 |
–3,489 |
–3,272 |
–3,250 |
–3,017 |
–4,037 |
–5,353 |
–5,165 |
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Strategic capital expenditures, non-current assets |
–4,264 |
–3,125 |
–1,816 |
–1,906 |
–1,971 |
–1,637 |
–2,254 |
–3,031 |
–3,109 |
–1,342 |
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Company acquisitions |
–6,598 |
–93 |
–508 |
–5,488 |
–14,873 |
–983 |
–484 |
–51 |
–1,764 |
–4,545 |
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Divestments |
489 |
329 |
206 |
1,716 |
17,682 |
–15 |
1,297 |
75 |
1,140 |
2,852 |
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KEY FIGURES 8) |
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Equity/assets ratio, % |
44 |
46 |
44 |
44 |
44 |
44 |
47 |
45 |
42 |
44 |
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Interest coverage, multiple |
12.3 |
11.5 |
10.9 |
8.6 |
4.9 |
1.7 |
6.7 |
5.0 |
3.7 |
5.3 |
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Debt payment capacity, incl. pension liabilities, % |
40 |
47 |
39 |
38 |
38 |
36 |
35 |
31 |
26 |
35 |
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Debt/equity ratio, incl. pension liabilities |
0.44 |
0.39 |
0.49 |
0.50 |
0.54 |
0.60 |
0.51 |
0.60 |
0.70 |
0.58 |
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Debt/equity ratio, excl. pension liabilities |
0.39 |
0.36 |
0.42 |
0.47 |
0.47 |
0.52 |
0.48 |
0.55 |
0.66 |
0.58 |
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Return on capital employed, % |
10 |
10 |
10 |
10 |
8 |
4 |
8 |
7 |
8 |
11 |
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Return on capital employed, excl. items affecting comparability, % |
13 |
12 |
11 |
11 |
10 |
9 |
9 |
9 |
8 |
10 |
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Return on equity, % |
8 |
10 |
10 |
9 |
9 |
1 |
8 |
7 |
9 |
12 |
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Operating margin, % |
10 |
9 |
10 |
10 |
7 |
3 |
9 |
7 |
8 |
10 |
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Operating margin, excl. items affecting comparability, % |
12 |
11 |
11 |
11 |
10 |
10 |
10 |
9 |
8 |
9 |
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Net margin, % 9) |
5 |
7 |
7 |
6 |
5 |
0 |
6 |
4 |
5 |
7 |
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Capital turnover rate, multiple |
1.05 |
1.06 |
0.99 |
0.97 |
1.02 |
0.98 |
0.98 |
0.97 |
1.04 |
1.10 |
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Operating cash flow per share, SEK |
14.78 |
14.08 |
11.60 |
8.90 |
10.59 |
7.55 |
9.24 |
16.36 |
5.42 |
6.42 |
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Earnings per share, SEK |
7.93 |
9.97 |
9.40 |
7.90 |
7.06 |
0.78 |
7.90 |
6.78 |
7.94 |
10.16 |
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Dividend per share, SEK 10) |
6.00 |
5.75 |
5.25 |
4.75 |
4.50 |
4.20 |
4.00 |
3.70 |
3.50 |
4.40 |