Five-year review

MSEK	2019	2018	2017	2016	2015 1)

Income statement items
Net sales	54,008	52,233	49,981	46,054	44,376
Operating profit	2,568	2,573	2,418	2,044	1,009
Pre-tax items	2,510	2,518	2,458	1,996	906
Profit for the year	2,092	2,100	2,067	1,685	798
Balance sheet items
Fixed assets	12,889	11,317	11,226	9,901	9,323
Current assets	25,840	25,999	20,899	21,448	18,718
Total assets	38,729	37,316	32,125	31,349	28,041

Shareholders' equity	12,266	11,348	10,332	9,340	8,076
Long-term liabilities	6,779	6,294	3,614	3,864	4,505
Current liabilities	19,684	19,674	18,179	18,145	15,460
Total shareholders' equity and liabilities	38,729	37,316	32,125	31,349	28,041
Key ratios
Operating margin, percent	4.8	4.9	4.8	4.4	2.3
Shareholders' equity, average during the year	11,703	10,371	9,705	8,579	8,088
Shareholders' equity, attributable to owners of the parent, average during the year	11,701	10,730	9,704	8,579	8,088
Return on equity, percent	17.9	19.6	21.3	19.6	9.9
Capital employed, at year-end 2)	21,376	18,360	14,074	14,362	14,476
Capital employed, average during the year 2)	20,633	16,761	13,972	14,122	14,224
Return on capital employed, percent	13.1	15.9	18.7	15.9	8.2
Equity/assets ratio, percent 3)	31.7	30.4	32.2	29.8	28.8
Net debt 4)	7,507	3,551	1,216	1,862	3,118
Debt/equity ratio, multiple	0.6	0.3	0.1	0.2	0.4
Interest coverage ratio, multiple	15.5	21.6	21.8	12.9	5.5
Capital expenditures
Goodwill	8	23	61	40	-17
Other intangible assets	126	98	113	34	5
Investment properties	-70	-262	265	-	-
Buildings and land	440	-31	181	200	-94
Machinery and equipment	1,172	1,193	1,292	1,175	627
Shares and participations	1,164	169	-563	303	-210
Project and development properties	1,549	2,103	702	324	291
Orders
Orders received 5)	44,130	51,087	48,999	41,445	37,812
Order backlog 5)	42,494	45,819	40,205	33,572	26,991
Personnel
Numer of employees, at year-end	14,258	14,614	14,344	13,869	13,300
Average number of employees	14,309	14,661	14,578	13,712	13,036

1) Not recalculated according to IFRS 15.
2) Excluding additional IFRS 16, Leases the capital employed was SEK 20,615 million per December 31 2019.
3) Excluding additional IFRS 16, Leases the equity/assets ratio was 32.3 percent per December 31 2019.
4) Excluding additional IFRS 16, Leases net debt was SEK 6,743 million per December 31 2019.
5) As of 2017 certain sections of Industry’s orders received and order backlog are presented.