Five-year review

MSEK	2019 ¹⁾	2018	2017	2016	2015 ²⁾

Income statement items, segment reporting
Net sales	55,349	52,233	49,981	46,054	44,376
Operating profit	2,610	2,573	2,418	2,044	1,009
Pre-tax items	2,579	2,518	2,458	1,996	906
Profit for the year	2,138	2,100	2,067	1,685	798
Income statement items, IFRS
Net sales	53,303	52,233	49,981	46,054	44,376
Operating profit	3,285	2,573	2,418	2,044	1,009
Pre-tax items	3,227	2,518	2,458	1,996	906
Profit for the year	2,656	2,100	2,067	1,685	798
Balance sheet items, segment reporting
Fixed assets	12,261	11,317	11,226	9,901	9,323
Current assets	26,101	25,999	20,899	21,448	18,718
Total assets	38,362	37,316	32,125	31,349	28,041

Shareholders' equity	12,479	11,348	10,332	9,340	8,076
Long-term liabilities	4,428	6,294	3,614	3,864	4,505
Current liabilities	21,455	19,674	18,179	18,145	15,460
Total shareholders' equity and liabilities	38,362	37,316	32,125	31,349	28,041

Balance sheet items, IFRS
Fixed assets	13,087	11,317	11,226	9,901	9,323
Current assets	30,601	25,999	20,899	21,448	18,718
Total assets	43,688	37,316	32,125	31,349	28,041

Shareholders' equity	11,559	11,348	10,332	9,340	8,076
Long-term liabilities	5,215	6,294	3,614	3,864	4,505
Current liabilities	26,914	19,674	18,179	18,145	15,460
Total shareholders' equity and liabilities	43,688	37,316	32,125	31,349	28,041
Key ratios, segment reporting
Operating margin, percent	4.7	4.9	4.8	4.4	2.3
Shareholders' equity, average during the year	11,944	10,371	9,705	8,579	8,088
Shareholders' equity, attributable to owners of the parent, average during the year	11,942	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	21,617	18,360	14,074	14,362	14,476
Capital employed, average during the year	21,421	16,761	13,972	14,122	14,224
Return on capital employed, percent	12.8	15.9	18.7	15.9	8.2
Equity/assets ratio, percent	32.5	30.4	32.2	29.8	28.8
Net debt	7,535	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	18.7	21.6	21.8	12.9	5.5
Key ratios, IFRS
Operating margin, percent	5.8	4.9	4.8	4.4	2.3
Shareholders' equity, average during the year	10,940	10,371	9,705	8,579	8,088
Shareholders' equity, attributable to owners of the parent, average during the year	10,938	10,730	9,704	8,579	8,088
Return on equity, percent	24.3	19.6	21.3	19.6	9.9
Capital employed, at year-end	26,336	18,360	14,074	14,362	14,476
Capital employed, average during the year	25,905	16,761	13,972	14,122	14,224
Return on capital employed, percent	13.2	15.9	18.7	15.9	8.2
Equity/assets ratio, percent	26.5	30.4	32.2	29.8	28.8
Net debt	13,174	3,551	1,216	1,862	3,118
Debt/equity ratio, multiple	1.1	0.3	0.1	0.2	0.4
Interest coverage ratio, multiple	19.6	21.6	21.8	12.9	5.5
Capital expenditures
Goodwill	8	23	61	40	-17
Other intangible assets	127	98	113	34	5
Investment properties	-70	-262	265	-	-
Buildings and land	439	-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, segment reporting	-267	2,103	702	324	291
Project and development properties, IFRS	-244	2,103	702	324	291
Orders ^{3, 4)}
Orders received	44,130	51,087	48,999	41,445	37,812
Order backlog	42,494	45,819	40,205	33,572	26,991
Personnel
Number 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⁾ As of the fiscal year 2020 Peab consolidates projects with Swedish tenant-owned associations until the point in time the homebuyers take possession of their condominiums. The difference consists primarily of the disparities in accounting principles for our own developed housing projects where income and expenses are recognized over time in segment reporting and at certain point in time, when homebuyers take possession of their homes, in reporting according to IFRS. Comparable figures for 2019 have been translated. For more information see peab.com/ifrs.
²⁾ Not recalculated according to IFRS 15.
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.