Group performance in the quarter

Net sales in the quarter increased by 11 percent to SEK 2,818m (2,544). Organic growth, excluding exchange rate effects, was 9 percent and the acquired growth was 1 percent. Exchange rate effects positively impacted net sales by 1 percent in the quarter, corresponding to SEK 12m.

EBITA increased by 24 percent to SEK 346m (278) and the EBITA-margin was 12.3 percent (10.9). The previous financial year, EBITA was affected by revalued contingent considerations of SEK 46m and one-off costs of SEK -27m. The EBITA-margin excluding these amounted to 10.2 percent in the previous year. Exchange rate fluctuations positively impacted EBITA by SEK 2m. 

Net financial items amounted to SEK -79m (-57) and profit after financial items amounted to SEK 150m (2). Net financial items primarily include interest expenses related to financing of previous acquisitions and exchange rate fluctuations. Interest expenses amounted to SEK -70m (-77) and exchange rate loss to SEK -1m (+16). The profit after tax for the quarter was SEK 94m (-41) and the effective tax rate was 38 percent. The high effective tax rate is attributable to the effect of non-deductible interest. 

Group performance in the financial year

Net sales in the financial year increased by 6 percent to SEK 10,286m (9,685). Organic growth, excluding exchange rate effects, was 5 percent and acquired growth amounted to 1 percent. Exchange rate fluctuations had a marginally negative impact on net sales during the financial year, corresponding to SEK 10m.

EBITA increased by 2 percent to SEK 1,159m (1,135) and the EBITA-margin amounted to 11.3 percent (11.7). EBITA includes a revalued contingent consideration of SEK 4m (147) and one-off costs of SEK -10m (-27). Excluding these EBITA increased by 14 percent and the EBITA-margin amounted to 11.3 percent (10.5). Exchange rate fluctuations had a marginally negative impact on EBITA, corresponding to SEK 1m.

Net financial items amounted to SEK -316m (-246) and profit after financial items was SEK 405m (339). Net financial items mainly include interest costs related to financing of previous acquisitions and exchange rate fluctuations. Interest costs amounted to SEK -300m (-276) and exchange rate gains to SEK 0m (30). The profit after tax for the financial year was SEK 254m (192) and the effective tax rate was 37 percent (43). The high effective tax rate is attributable to the effect of non-deductible interest.

The geopolitical situation in Ukraine and the Middle East has not had any significant financial impact on the financial reports, but it cannot be ruled out that this will happen in the future. We are closely monitoring market developments regarding inflation, raw material, component, freight, and energy costs, as well as interest rate trends.