Five-year review

MSEK	2018	2017	2016	2015 1)	2014 1)

Income statement items
Net sales	52,233	49,981	46,054	44,376	43,630
Operating profit	2,573	2,418	2,044	1,009	1,752
Pre-tax items	2,518	2,458	1,996	906	1,230
Profit for the year	2,100	2,067	1,685	798	1,027
Balance sheet items
Fixed assets	11,317	11,226	9,901	9,323	9,284
Current assets	25,999	20,899	21,448	18,718	19,101
Total assets	37,316	32,125	31,349	28,041	28,385

Shareholders' equity	11,348	10,332	9,340	8,076	7,997
Long-term liabilities	6,294	3,614	3,864	4,505	4,719
Current liabilities	19,674	18,179	18,145	15,460	15,669
Total shareholders' equity and liabilities	37,316	32,125	31,349	28,041	28,385
Key ratios
Operating margin, percent	4.9	4.8	4.4	2.3	4.0
Shareholders' equity, average during the year	10,371	9,705	8,579	8,088	7,832
Return on equity, percent	19.6	21.3	19.6	9.9	13.1
Capital employed, at year-end	18,360	14,074	14,362	14,476	14,762
Capital employed, average during the year	16,761	13,972	14,122	14,224	15,482
Return on capital employed, percent	15.9	18.7	15.9	8.2	12.1
Equity/assets ratio, percent	30.4	32.2	29.8	28.8	28.2
Net debt	3,551	1,216	1,862	3,118	3,886
Debt/equity ratio, multiple	0.3	0.1	0.2	0.4	0.5
Interest coverage ratio, multiple	21.6	21.8	12.9	5.5	4.8
Capital expenditures
Goodwill	23	61	40	-17	26
Other intangible assets	98	113	34	5	-2
Investment properties	-262	265	-	-	-
Buildings and land	-31	181	200	-94	36
Machinery and equipment	1,193	1,292	1,175	627	532
Shares and participations	169	-563	303	-210	-263
Project and development properties	2,103	702	324	291	-99
Orders
Orders received 2)	51,087	48,999	41,445	37,812	31,690
Order backlog 2)	45,819	40,205	33,572	26,991	24,922
Personnel
Numer of employees, at year-end	14,614	14,344	13,869	13,300	13,213
Average number of employees	14,661	14,578	13,712	13,036	13,176

1) Not recalculated according to IFRS 15.
2) As of 2017 certain sections of Industry’s orders received and order backlog are presented.