Financial position and cash flow

At the end of the financial period, the equity ratio stood at 39 percent (38). Equity per share totalled SEK 40.75 (40.76) and the return on equity at the end of the financial year was 4 percent (10). Return on working capital, P/WC (EBITA in relation to working capital) amounted to 50 percent (61). The lower return on working capital is due to a a slightly lower result and relatively higher working capital

The group's interest-bearing net debt decreased during the quarter by SEK 408 m and amounted to SEK 5,192 m (5,410), including pension liabilities of SEK 64 m (60), leasing liabilities of SEK 498 m (351) and contingent considerations corresponding to SEK 87 m (266). Outstanding bank loans at the end of the financial year amounted to SEK 4,698 m (4,968), whereof short-term bank loans amounted to SEK 2,212 m (2,432). The credit facility of EUR 98.2 m due in January 2024 has been extended by 12 months.

The group has a good margin in the covenants applicable under the banking agreements, which stipulate an interest coverage ratio of at least 4.0 times and an equity ratio exceeding 25 percent. As of the end of the financial year, the interest coverage ratio amounted to 5.7 times, as defined in the bank agreements.

The net debt/equity ratio totalled 1.0 compared to 1.1 at the beginning of the financial year. The intention is to reduce debt through self-generated cash flow.

Cash and cash equivalents, consisting of cash and bank balances, together with approved but non-utilised credit facilities, totalled SEK 1,013 m (890) on December 31, 2023. 

The cash flow from operating activities during the fourth quarter amounted to SEK 448 m (351), which reflects normal seasonal patterns as well as a reduction in inventory and an increase in accounts payable. The cash flow from current operations during the financial year amounted to SEK 773 m (909), mainly attributable to a lower result after financial items. Paid out contingent consideration related to  acquisitions of companies in previous years amounted to SEK 16 m (818). Net investments in non-current assets during the financial year amounted to SEK 286 m (268) and are mainly attributable to investments in instruments for rental to customers. Repurchase of treasury shares amounted to SEK 0 m (60). Exercised, issued and repurchased call options amounted to SEK 9 m (33). A dividend of SEK 146 m (243) has been paid to the parent company´s shareholders.


Dynamisk graf: Profitability P/WC (%)
Dynamisk graf: Profit growth (%)
Latest updated: 2/1/2024 9:51:13 AM by