Five-year review

MSEK	2020	2019	2018¹⁾	2017¹⁾	2016¹⁾

Income statement items, segment reporting
Net sales	57,417	55,349	52,233	49,981	46,054
Operating profit	3,541	2,610	2,573	2,418	2,044
Pre-tax items	3,433	2,579	2,518	2,458	1,996
Profit for the year	2,948	2,138	2,100	2,067	1,685
Income statement items, IFRS
Net sales	59,852	53,303	52,233	49,981	46,054
Operating profit	3,922	3,285	2,573	2,418	2,044
Pre-tax items	3,745	3,227	2,518	2,458	1,996
Profit for the year	3,181	2,656	2,100	2,067	1,685
Balance sheet items, segment reporting
Fixed assets	12,294	12,261	11,317	11,226	9,901
Current assets	23,310	26,101	25,999	20,899	21,448
Total assets	36,604	38,362	37,316	32,125	31,349

Shareholders' equity	13,251	12,479	11,348	10,332	9,340
Long-term liabilities	4,548	4,428	6,294	3,614	3,864
Current liabilities	18,805	21,455	19,674	18,179	18,145
Total shareholders' equity and liabilities	36,604	38,362	37,316	32,125	31,349

Balance sheet items, IFRS
Fixed assets	14,817	13,087	11,317	11,226	9,901
Current assets	27,347	30,601	25,999	20,899	21,448
Total assets	42,164	43,688	37,316	32,125	31,349

Shareholders' equity	12,443	11,559	11,348	10,332	9,340
Long-term liabilities	6,116	5,215	6,294	3,614	3,864
Current liabilities	23,605	26,914	19,674	18,179	18,145
Total shareholders' equity and liabilities	42,164	43,688	37,316	32,125	31,349
Key ratios, segment reporting
Operating margin, percent	6.2	4.7	4.9	4.8	4.4
Shareholders' equity, average during the year	12,772	11,944	10,371	9,705	8,579
Shareholders' equity, attributable to owners of the parent, average during the year	12,771	11,942	10,730	9,704	8,579
Return on equity, percent	23.1	17.9	19.6	21.3	19.6
Capital employed, at year-end	19,434	21,617	18,360	14,074	14,362
Capital employed, average during the year	20,709	21,421	16,761	13,972	14,122
Return on capital employed, percent	17.6	12.8	15.9	18.7	15.9
Equity/assets ratio, percent	36.2	32.5	30.4	32.2	29.8
Net debt	3,873	7,535	3,551	1,216	1,862
Debt/equity ratio, multiple	0.3	0.6	0.3	0.1	0.2
Interest coverage ratio, multiple	28.5	18.7	21.6	21.8	12.9
Key ratios, IFRS
Operating margin, percent	6.6	5.8	4.9	4.8	4.4
Shareholders' equity, average during the year	12,230	10,940	10,371	9,705	8,579
Shareholders' equity, attributable to owners of the parent, average during the year	12,229	10,938	10,730	9,704	8,579
Return on equity, percent	26.0	24.3	19.6	21.3	19.6
Capital employed, at year-end	24,435	26,336	18,360	14,074	14,362
Capital employed, average during the year	26,706	25,905	16,761	13,972	14,122
Return on capital employed, percent	15.0	13.2	15.9	18.7	15.9
Equity/assets ratio, percent	29.5	26.5	30.4	32.2	29.8
Net debt	9,682	13,174	3,551	1,216	1,862
Debt/equity ratio, multiple	0.8	1.1	0.3	0.1	0.2
Interest coverage ratio, multiple	20.2	19.6	21.6	21.8	12.9
Capital expenditures ²⁾
Goodwill	-145	8	23	61	40
Other intangible assets	74	127	98	113	34
Investment properties	2	-70	-262	265	-
Buildings and land	398	439	-31	181	200
Machinery and equipment	780	1,172	1,193	1,292	1,175
Shares and participations	-93	776	169	-563	303
Project and development properties, segment reporting	-1,917	-434	2,103	702	324
Project and development properties, IFRS	-2,842	-444	2,103	702	324
Orders ^{3, 4)}
Orders received	49,735	44,130	51,087	48,999	41,445
Order backlog	42,709	42,494	45,819	40,205	33,572
Personnel
Number of employees, at year-end	15,252	14,258	14,614	14,344	13,869
Average number of employees	15,166	14,309	14,661	14,578	13,712

¹⁾ Not translated according to the changed accounting principles for tenant-owner associations and IFRS 16, Leasing.
²⁾For 2020, the amounts are adjusted for the acquisition of paving and mineral aggregates business and the distribution of Annehem Fastigheter.
³⁾The order situation is based on segment reporting. Regarding our own developed housing projects, tenant-owned associations and housing companies are considered external customers.
⁴⁾ As of 2017 certain sections of Industry’s orders received and order backlog are presented.