Group summary


	3 months		Rolling 12 months
SEKm	31 Mar 2023	31 Mar 2022	31 Mar 2023	31 Mar 2022
Net sales	5,267	3,916	18,714	14,038
Cost of sales	-3,665	-2,707	-13,091	-9,717
Gross profit	1,602	1,209	5,623	4,321
Selling expenses	-702	-596	-2,593	-2,124
Administrative expenses	-270	-200	-922	-753
Other operating income and expenses	30	23	59	57
Operating profit	660	436	2,167	1,501
- as % of net sales	12.5	11.1	11.6	10.7
Financial income and expenses	-49	-22	-162	-68
Profit after financial items	611	414	2,005	1,433
- as % of net sales	11.6	10.6	10.7	10.2
Income tax expense	-150	-89	-451	-316
Profit for the period	461	325	1,554	1,117

Profit for the period attributable to:
Equity holders of the Parent Company	442	313	1,495	1,074
Non-controlling interests	19	12	59	43

Earnings per share before dilution, SEK	1.65	1.20	5.55	4.00
Earnings per share after dilution, SEK	1.65	1.15	5.55	3.95

Average number of shares after repurchases, ’000s	269,565	269,511	269,557	269,400
Number of shares at end of the period, ’000s	269,565	269,528	269,565	269,528


	3 months		Rolling 12 months
SEKm	31 Mar 2023	31 Mar 2022	31 Mar 2023	31 Mar 2022
Profit for the period	461	325	1,554	1,117
Components that will be reclassified to profit for the year
Cash flow hedges	-1	0	1	2
Foreign currency translation differences for the period	10	64	312	99
Components that will not be reclassified to profit for the year
Actuarial effects of the net pension obligation	38	23	82	18
Other comprehensive income	47	87	395	119
Total comprehensive income	508	412	1,949	1,236

Total comprehensive income attributable to:
Equity holders of the Parent Company	489	398	1,882	1,190
Non-controlling interests	19	14	67	46


SEKm	31 Mar 2023	31 Mar 2022
Goodwill	3,935	3,306
Other intangible non-current assets	2,377	2,062
Property, plant and equipment	1,179	1,057
Other non-current assets	80	65
Total non-current assets	7,571	6,490
Inventories	3,326	2,569
Current receivables	3,768	2,931
Cash and cash equivalents	606	437
Total current assets	7,700	5,937
Total assets	15,271	12,427
Total equity	5,573	4,259
Interest-bearing provisions	218	314
Non-interest-bearing provisions	633	500
Non-current interest-bearing liabilities	3,617	2,136
Non-current non-interest-bearing liabilities	18	9
Total non-current liabilities	4,486	2,959
Non-interest-bearing provisions	87	72
Current interest-bearing liabilities	1,096	2,048
Current non-interest-bearing liabilities	4,029	3,089
Total current liabilities	5,212	5,209
Total equity and liabilities	15,271	12,427


SEKm	31 Mar 2023	31 Mar 2022
Opening balance	4,259	3,450
Exercised, issued and repurchased options	-17	10
Repurchase of treasury shares	-31	-
Dividend, ordinary	-485	-323
Dividend, non-controlling interests	-34	-15
Change, non-controlling interests	28	58
Option debt, acquisition	-96	-157
Total comprehensive income	1,949	1,236
Closing balance	5,573	4,259


	3 months		Rolling 12 months
SEKm	31 Mar 2023	31 Mar 2022	31 Mar 2023	31 Mar 2022
Profit after financial items	611	414	2,005	1,433
Adjustment for items not included in cash flow	185	174	707	594
Income tax paid	-139	-102	-474	-416
Changes in working capital	154	-170	-327	-490
Cash flow from operating activities	811	316	1,911	1,121
Net investments in non-current assets	-88	-51	-183	-116
Acquisitions and disposals	-69	-428	-1,204	-1,139
Cash flow from investing activities	-157	-479	-1,387	-1,255
Dividend paid to shareholders	-	-	-485	-323
Repurchase of own shares/change of options	-	7	-48	10
Other financing activities	-637	106	162	460
Cash flow from financing activities	-637	113	-371	147
Cash flow for the period	17	-50	153	13
Cash and cash equivalents at beginning of period	587	478	437	420
Exchange differences on cash and cash equivalents	2	9	16	4
Cash and cash equivalents at end of period	606	437	606	437


	31 Mar 2023			31 Mar 2022
SEKm	Carrying amount	Level 2	Level 3	Carrying amount	Level 2	Level 3
Derivatives - fair value, hedge instruments	9	9	-	6	6	-
Derivatives - fair value through profit	9	9	-	4	4	-
Total financial assets at fair value per level	18	18	-	10	10	-

Derivatives - fair value, hedge instruments	3	3	-	3	3	-
Derivatives - fair value through profit	38	38	-	12	12	-
Contingent considerations - fair value through profit	295	-	295	349	-	349
Total financial liabilities at fair value per level	336	41	295	364	15	349

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 2023		31 Mar 2022
Opening balance	349			267
Acquisitions during the year	150			170
Reversed through profit or loss	-40			-8
Consideration paid	-192			-96
Interest expenses	11			12
Exchange differences	17			4
Closing balance	295			349


	12 months ending
	31 Mar 2023	31 Mar 2022	31 Mar 2021	31 Mar 2020
Net sales, SEKm	18,714	14,038	11,336	11,735
EBITDA, SEKm	2,872	2,077	1,501	1,579
EBITA, SEKm	2,540	1,803	1,251	1,364
EBITA-margin, %	13.6	12.8	11.0	11.6
Operating profit, SEKm	2,167	1,501	989	1,161
Operating margin, %	11.6	10.7	8.7	9.9
Profit after financial items, SEKm	2,005	1,433	937	1,105
Profit for the period, SEKm	1,554	1,117	729	873
x
Working capital	3,855	2,618	2,416	2,415
Return on working capital (P/WC), %	66	69	52	56
Return on equity, %	32	30	23	32
Return on capital employed, %	22	20	15	21
Equity ratio, %	36	34	35	36
x
Financial debt, SEKm	4,325	4,061	3,134	2,585
Debt / equity ratio, multiple	0.8	1.0	0.9	0.8
Financial debt / EBITDA, multiple	1.5	2.0	2.1	1.6
Net debt excl. pensions, SEKm	4,107	3,747	2,798	2,253
Net debt, excl pensions / equity ratio, multiple	0.7	0.9	0.8	0.7
Interest coverage ratio, multiple	13.7	22.4	15.8	20.5
x
Average number of employees	3,781	3,317	3,068	2,913
Number of employees at end of the period	3,911	3,556	3,133	2,981


	12 months ending
SEK	31 Mar 2023	31 Mar 2022	31 Mar 2021	31 Mar 2020
Earnings per share before dilution	5.55	4.00	2.60	3.20
Earnings per share after dilution	5.55	3.95	2.60	3.20
Cash flow from operating activities per share	7.10	4.15	5.60	4.15
Shareholders’ equity per share	19.25	14.60	11.95	11.25
Share price at the end of the period	192.30	182.00	130.00	61.13
Average number of shares after repurchases, ’000s	269,557	269,400	269,051	268,493
Average number of shares adjusted for repurchases and dilution, ’000s	269,723	270,346	269,969	269,200
Number of shares outstanding at end of the period, ’000s	269,565	269,528	269,275	268,594

For definitions of key financial indicators, see page 22-24.