CONSOLIDATED INCOME STATEMENT, CONDENSED

3 months Rolling 12 months
SEKm 30 Jun 2021 30 Jun 2020 30 Jun 2021 31 Mar 2021
Net sales 3,279 2,805 11,810 11,336
Cost of sales -2,275 -1,959 -8,179 -7,863
Gross profit 1,004 846 3,631 3,473
Selling expenses -501 -447 -1,897 -1,843
Administrative expenses -175 -150 -662 -637
Other operating income and expenses 4 -6 6 -4
Operating profit 332 243 1,078 989
- as % of net sales 10.1 8.7 9.1 8.7
Financial income and expenses -14 -10 -56 -52
Profit after financial items 318 233 1,022 937
- as % of net sales 9.7 8.3 8.7 8.3
Income tax expense -68 -49 -227 -208
Profit for the period 250 184 795 729
Profit for the period attributable to:
Equity holders of the Parent Company 243 179 770 706
Non-controlling interests 7 5 25 23
Earnings per share before dilution, SEK 0.90 0.65 2.85 2.60
Earnings per share after dilution, SEK 0.90 0.65 2.85 2.60
Average number of shares after repurchases, ’000s 269,291 268,789 269,176 269,051
Number of shares at end of the period, ’000s 269,343 269,022 269,343 269,275
The number of shares has been restated to take the share split (4:1) completed in September 2020
into account, and has been used in all calculations of key figures for SEK per share.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME, CONDENSED

3 months Rolling 12 months
SEKm 30 Jun 2021 30 Jun 2020 30 Jun 2021 31 Mar 2021
Profit for the period 250 184 795 729
Components that will be reclassified to profit for the year
Cash flow hedges -2 -1 -4 -3
Foreign currency translation differences for the period -74 -158 -58 -142
Components that will not be reclassified to profit for the year
Actuarial effects of the net pension obligation - - 15 15
Other comprehensive income -76 -159 -47 -130
Total comprehensive income 174 25 748 599
Total comprehensive income attributable to:
Equity holders of the Parent Company 168 23 725 580
Non-controlling interests 6 2 23 19

CONSOLIDATED BALANCE SHEET, CONDENSED

SEKm 30 Jun 2021 30 Jun 2020 31 Mar 2021
Goodwill 2,845 2,442 2,727
Other intangible non-current assets 1,827 1,673 1,769
Property, plant and equipment 957 900 1,008
Other non-current assets 59 61 60
Total non-current assets 5,688 5,076 5,564
Inventories 1,878 1,765 1,661
Current receivables 2,351 2,020 2,161
Cash and cash equivalents 524 453 420
Total current assets 4,753 4,238 4,242
Total assets 10,441 9,314 9,806
Total equity 3,627 3,150 3,450
Interest-bearing provisions 336 328 336
Non-interest-bearing provisions 398 371 388
Non-current interest-bearing liabilities 2,228 1,972 2,056
Non-current non-interest-bearing liabilities 8 4 9
Total non-current liabilities 2,970 2,675 2,789
Non-interest-bearing provisions 54 52 56
Current interest-bearing liabilities 1,173 1,336 1,162
Current non-interest-bearing liabilities 2,617 2,101 2,349
Total current liabilities 3,844 3,489 3,567
Total equity and liabilities 10,441 9,314 9,806

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY, CONDENSED

SEKm 30 Jun 2021 30 Jun 2020 31 Mar 2021
Opening balance 3,450 3,076 3,076
Exercised, issued and repurchased options 4 17 25
Dividend, ordinary - - -269
Dividend, non-controlling interests -1 - -4
Change non-controlling interests - 130 158
Option debt, acquisition - -98 -135
Total comprehensive income 174 25 599
Closing balance 3,627 3,150 3,450

CONSOLIDATED CASH FLOW STATEMENT, CONDENSED

3 months Rolling 12 months
SEKm 30 Jun 2021 30 Jun 2020 30 Jun 2021 31 Mar 2021
Profit after financial items 318 233 1,022 937
Adjustment for items not included in cash flow 131 129 553 551
Income tax paid -77 -60 -337 -320
Changes in working capital -164 22 149 335
Cash flow from operating activities 208 324 1,387 1,503
Net investments in non-current assets -11 -15 -75 -79
Acquisitions and disposals -261 -730 -750 -1,219
Cash flow from investing activities -272 -745 -825 -1,298
Dividend paid to shareholders - - -269 -269
Repurchase of own shares/change of options 4 17 12 25
Other financing activities 178 513 -229 106
Cash flow from financing activities 182 530 -486 -138
Cash flow for the period 118 109 76 67
Cash and cash equivalents at beginning of period 420 363 453 363
Exchange differences on cash and cash equivalents -14 -19 -5 -10
Cash and cash equivalents at end of period 524 453 524 420

FAIR VALUES ON FINANCIAL INSTRUMENTS

30 Jun 2021 31 Mar 2021
SEKm Carrying amount Level 2 Level 3 Carrying amount Level 2 Level 3
Derivatives - fair value, hedge instruments 0 0 - 2 2 -
Derivatives - fair value through profit 4 4 - 2 2 -
Total financial assets at fair value per level 4 4 - 4 4 -
Derivatives - fair value, hedge instruments 6 6 - 3 3 -
Derivatives - fair value through profit 6 6 - 4 4 -
Contingent considerations - fair value through profit 264 - 264 267 - 267
Total financial liabilities at fair value per level 276 12 264 274 7 267
The fair value and carrying amount are recognised in the balance sheet as shown in the table above.
For quoted securities, the fair value is determined on the basis of the asset’s quoted price in an active market, level 1.
As at the reporting date the Group had no items in this category.
For currency contracts and embedded derivatives, the fair value is determined on the basis of observable market data, level 2.
For contingent considerations, a cash-flow-based valuation is performed, which is not based on observable market data, level 3.
For the Group’s other financial assets and liabilities, fair value is estimated to be the same as the carrying amount.
Contingent considerations 30 Jun 2021 31 Mar 2021
Opening balance 267 151
Acquisitions during the year 53 170
Reversed through profit or loss 4 9
Consideration paid -60 -64
Interest expenses 2 9
Exchange differences -2 -8
Closing balance 264 267

KEY FINANCIAL INDICATORS

12 months ending
30 Jun 2021 31 Mar 2021 30 Jun 2020 31 Mar 2020 31 Mar 2019
Net sales, SEKm 11,810 11,336 11,606 11,735 10,148
EBITDA, SEKm 1,601 1,501 1,557 1,579 1,137
EBITA, SEKm 1,347 1,251 1,329 1,364 1,085
EBITA-margin, % 11.4 11.0 11.5 11.6 10.7
Operating profit, SEKm 1,078 989 1,112 1,161 910
Operating margin, % 9.1 8.7 9.6 9.9 9.0
Profit after financial items, SEKm 1,022 937 1,052 1,105 865
Profit for the period, SEKm 795 729 831 873 672
Working capital 2,395 2,416 2,448 2,415 2,029
Return on working capital (P/WC), % 56 52 54 56 53
Return on equity, % 24 23 29 32 29
Return on capital employed, % 16 15 19 21 21
Equity ratio, % 35 35 34 36 36
Net debt, incl pensions, SEKm 3,213 3,134 3,183 2,585 1,960
Net debt, incl pensions / equity ratio, multiple 0.9 0.9 1.0 0.8 0.8
Net debt, incl pensions / EBITDA, multiple 2.0 2.1 2.0 1.6 1.7
Net debt excl. pensions, SEKm 2,877 2,798 2,855 2,253 1,700
Net debt, excl pensions / equity ratio, multiple 0.8 0.8 0.9 0.7 0.7
Interest coverage ratio, multiple 17.4 15.8 18.7 20.5 22.1
Average number of employees 3,109 3,068 2,959 2,913 2,590
Number of employees at end of the period 3,230 3,133 3,022 2,981 2,759

KEY FINANCIAL INDICATORS PER SHARE

12 months ending
SEK 30 Jun 2021 31 Mar 2021 30 Jun 2020 31 Mar 2020 31 Mar 2019
Earnings per share before dilution 2.85 2.60 3.00 3.20 2.45
Earnings per share after dilution 2.85 2.60 3.00 3.20 2.45
Cash flow from operating activities per share 5.15 5.60 4.40 4.15 1.95
Shareholders’ equity per share 12.60 11.95 11.00 11.25 9.20
Share price at the end of the period 142.00 130.00 93.60 61.13 48.25
Average number of shares after repurchases, ’000s 269,176 269,051 268,578 268,493 268,187
Average number of shares adjusted for repurchases and dilution, ’000s 270,192 269,969 269,213 269,200 268,755
Number of shares outstanding at end of the period, ’000s 269,343 269,275 269,022 268,594 268,228
The number of shares has been restated to take the share split (4:1) completed in September 2020
into account, and has been used in all calculations of key figures for SEK per share.
For definitions of key financial indicators, see page 17-19.

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