Group summary


	3 months		Rolling 12 months
SEKm	31 Mar 2024	31 Mar 2023	31 Mar 2024	31 Mar 2023
Net sales	5,091	5,267	20,019	18,714
Cost of sales	-3,426	-3,665	-13,672	-13,091
Gross profit	1,665	1,602	6,347	5,623
Selling expenses	-763	-702	-2,932	-2,593
Administrative expenses	-255	-270	-979	-922
Other operating income and expenses	2	30	-10	59
Operating profit	649	660	2,426	2,167
- as % of net sales	12.7	12.5	12.1	11.6
Financial income and expenses	-70	-49	-243	-162
Profit after financial items	579	611	2,183	2,005
- as % of net sales	11.4	11.6	10.9	10.7
Income tax expense	-128	-150	-492	-451
Profit for the period	451	461	1,691	1,554

Profit for the period attributable to:
Equity holders of the Parent Company	433	442	1,632	1,495
Non-controlling interests	18	19	59	59

Earnings per share before dilution, SEK	1.60	1.65	6.05	5.55
Earnings per share after dilution, SEK	1.60	1.65	6.05	5.55

Average number of shares after repurchases, ’000s	269,741	269,565	269,634	269,557
Number of shares at end of the period, ’000s	269,779	269,565	269,779	269,565


	3 months		Rolling 12 months
SEKm	31 Mar 2024	31 Mar 2023	31 Mar 2024	31 Mar 2023
Profit for the period	451	461	1,691	1,554
Components that will be reclassified to profit for the year
Cash flow hedges	4	-1	-3	1
Foreign currency translation differences for the period	242	10	184	312
Components that will not be reclassified to profit for the year
Actuarial effects of the net pension obligation	6	38	-18	82
Other comprehensive income	252	47	163	395
Total comprehensive income	703	508	1,854	1,949

Total comprehensive income attributable to:
Equity holders of the Parent Company	677	489	1,790	1,882
Non-controlling interests	26	19	64	67


SEKm	31 Mar 2024	31 Mar 2023
Goodwill	4,716	3,935
Other intangible non-current assets	2,750	2,377
Property, plant and equipment	1,325	1,179
Other non-current assets	74	80
Total non-current assets	8,865	7,571
Inventories	3,125	3,326
Current receivables	3,869	3,768
Cash and cash equivalents	798	606
Total current assets	7,792	7,700
Total assets	16,657	15,271
Total equity	6,478	5,573
Interest-bearing provisions	241	218
Non-interest-bearing provisions	767	633
Non-current interest-bearing liabilities	3,892	3,617
Non-current non-interest-bearing liabilities	25	18
Total non-current liabilities	4,925	4,486
Non-interest-bearing provisions	109	87
Current interest-bearing liabilities	1,333	1,096
Current non-interest-bearing liabilities	3,812	4,029
Total current liabilities	5,254	5,212
Total equity and liabilities	16,657	15,271


SEKm	31 Mar 2024	31 Mar 2023
Opening balance	5,573	4,259
Exercised, issued and repurchased options	9	-17
Repurchase of treasury shares	-	-31
Dividend, ordinary	-674	-485
Dividend, non-controlling interests	-48	-34
Change, non-controlling interests	93	28
Option debt, acquisition	-329	-96
Total comprehensive income	1,854	1,949
Closing balance	6,478	5,573


	3 months		Rolling 12 months
SEKm	31 Mar 2024	31 Mar 2023	31 Mar 2024	31 Mar 2023
Profit after financial items	579	611	2,183	2,005
Adjustment for items not included in cash flow	212	185	842	707
Income tax paid	-210	-139	-522	-474
Changes in working capital	100	154	72	-327
Cash flow from operating activities	681	811	2,575	1,911
Net investments in non-current assets	-56	-88	-179	-183
Acquisitions and disposals	-182	-69	-1,303	-1,204
Cash flow from investing activities	-238	-157	-1,482	-1,387
Dividend paid to shareholders	-	-	-674	-485
Repurchase of own shares/change of options	-4	-	9	-48
Other financing activities	-531	-637	-257	162
Cash flow from financing activities	-535	-637	-922	-371
Cash flow for the period	-92	17	171	153
Cash and cash equivalents at beginning of period	859	587	606	437
Exchange differences on cash and cash equivalents	31	2	21	16
Cash and cash equivalents at end of period	798	606	798	606


	31 Mar 2024			31 Mar 2023
SEKm	Carrying amount	Level 2	Level 3	Carrying amount	Level 2	Level 3
Derivatives - fair value, hedge instruments	-	-	-	9	9	-
Derivatives - fair value through profit	7	7	-	9	9	-
Total financial assets at fair value per level	7	7	-	18	18	-

Derivatives - fair value, hedge instruments	-	-	-	3	3	-
Derivatives - fair value through profit	20	20	-	38	38	-
Contingent considerations - fair value through profit	360	-	360	295	-	295
Total financial liabilities at fair value per level	380	20	360	336	41	295

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 of 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 2024		31 Mar 2023
Opening balance	295			349
Acquisitions during the year	251			150
Adjustments through profit or loss	-15			-40
Consideration paid	-200			-192
Interest expenses	15			11
Exchange differences	14			17
Closing balance	360			295


	12 months ending
	31 Mar 2024	31 Mar 2023	31 Mar 2022	31 Mar 2021
Net sales, SEKm	20,019	18,714	14,038	11,336
EBITDA, SEKm	3,245	2,872	2,077	1,501
EBITA, SEKm	2,860	2,540	1,803	1,251
EBITA-margin, %	14.3	13.6	12.8	11.0
Operating profit, SEKm	2,426	2,167	1,501	989
Operating margin, %	12.1	11.6	10.7	8.7
Profit after financial items, SEKm	2,183	2,005	1,433	937
Profit for the period, SEKm	1,691	1,554	1,117	729
x
Working capital	4,219	3,855	2,618	2,416
Return on working capital (P/WC), %	68	66	69	52
Return on equity, %	28	32	30	23
Return on capital employed, %	22	22	20	15
Equity ratio, %	39	36	34	35
x
Financial debt, SEKm	4,668	4,325	4,061	3,134
Debt / equity ratio, multiple	0.7	0.8	1.0	0.9
Financial debt / EBITDA, multiple	1.4	1.5	2.0	2.1
Net debt excl. pensions, SEKm	4,427	4,107	3,747	2,798
Net debt, excl. pensions / equity ratio, multiple	0.7	0.7	0.9	0.8
Interest coverage ratio, multiple	8.7	13.7	22.4	15.8
x
Average number of employees	4,109	3,781	3,317	3,068
Number of employees at end of the period	4,175	3,911	3,556	3,133


	12 months ending
SEK	31 Mar 2024	31 Mar 2023	31 Mar 2022	31 Mar 2021
Earnings per share before dilution	6.05	5.55	4.00	2.60
Earnings per share after dilution	6.05	5.55	3.95	2.60
Cash flow from operating activities per share	9.55	7.10	4.15	5.60
Shareholders’ equity per share	22.15	19.25	14.60	11.95
Share price at the end of the period	243.80	192.30	182.00	130.00
Average number of shares after repurchases, ’000s	269,634	269,557	269,400	269,051
Average number of shares adjusted for repurchases and dilution, ’000s	269,761	269,723	270,346	269,969
Number of shares outstanding at end of the period, ’000s	269,779	269,565	269,528	269,275

For definitions of key financial indicators, see page 21-23.