Group summary


	3 months		9 months		Rolling 12 months
SEKm	31 Dec 2023	31 Dec 2022	31 Dec 2023	31 Dec 2022	31 Dec 2023	31 Mar 2023
Net sales	4,960	4,653	14,928	13,447	20,195	18,714
Cost of sales	-3,389	-3,238	-10,246	-9,426	-13,911	-13,091
Gross profit	1,571	1,415	4,682	4,021	6,284	5,623
Selling expenses	-757	-671	-2,169	-1,891	-2,871	-2,593
Administrative expenses	-240	-233	-724	-652	-994	-922
Other operating income and expenses	-10	25	-12	29	18	59
Operating profit	564	536	1,777	1,507	2,437	2,167
- as % of net sales	11.4	11.5	11.9	11.2	12.1	11.6
Financial income and expenses	-48	-44	-173	-113	-222	-162
Profit after financial items	516	492	1,604	1,394	2,215	2,005
- as % of net sales	10.4	10.6	10.7	10.4	11.0	10.7
Income tax expense	-115	-105	-364	-301	-514	-451
Profit for the period	401	387	1,240	1,093	1,701	1,554

Profit for the period attributable to:
Equity holders of the Parent Company	387	374	1,199	1,053	1,641	1,495
Non-controlling interests	14	13	41	40	60	59

Earnings per share before dilution, SEK	1.45	1.40	4.45	3.90	6.10	5.55
Earnings per share after dilution, SEK	1.45	1.40	4.45	3.90	6.10	5.55

Average number of shares after repurchases, ’000s	269,662	269,521	269,598	269,554	269,590	269,557
Number of shares at end of the period, ’000s	269,737	269,565	269,737	269,565	269,737	269,565


	3 months		9 months		Rolling 12 months
SEKm	31 Dec 2023	31 Dec 2022	31 Dec 2023	31 Dec 2022	31 Dec 2023	31 Mar 2023
Profit for the period	401	387	1,240	1,093	1,701	1,554
Components that will be reclassified to profit for the year
Cash flow hedges	-7	13	-7	2	-8	1
Foreign currency translation differences for the period	-273	105	-58	302	-48	312
Components that will not be reclassified to profit for the year
Actuarial effects of the net pension obligation	-40	-32	-24	44	14	82
Other comprehensive income	-320	86	-89	348	-42	395
Total comprehensive income	81	473	1,151	1,441	1,659	1,949

Total comprehensive income attributable to:
Equity holders of the Parent Company	76	456	1,113	1,393	1,602	1,882
Non-controlling interests	5	17	38	48	57	67


SEKm	31 Dec 2023	31 Dec 2022	31 Mar 2023
Goodwill	4,544	3,900	3,935
Other intangible non-current assets	2,709	2,378	2,377
Property, plant and equipment	1,276	1,130	1,179
Other non-current assets	64	69	80
Total non-current assets	8,593	7,477	7,571
Inventories	3,262	3,385	3,326
Current receivables	3,354	3,409	3,768
Cash and cash equivalents	859	587	606
Total current assets	7,475	7,381	7,700
Total assets	16,068	14,858	15,271
Total equity	6,059	5,148	5,573
Interest-bearing provisions	249	264	218
Non-interest-bearing provisions	724	582	633
Non-current interest-bearing liabilities	3,766	3,648	3,617
Non-current non-interest-bearing liabilities	20	9	18
Total non-current liabilities	4,759	4,503	4,486
Non-interest-bearing provisions	100	73	87
Current interest-bearing liabilities	1,636	1,525	1,096
Current non-interest-bearing liabilities	3,514	3,609	4,029
Total current liabilities	5,250	5,207	5,212
Total equity and liabilities	16,068	14,858	15,271


SEKm	31 Dec 2023	31 Dec 2022	31 Mar 2023
Opening balance	5,573	4,259	4,259
Exercised, issued and repurchased options	13	-17	-17
Repurchase of treasury shares	-	-31	-31
Dividend, ordinary	-674	-485	-485
Dividend, non-controlling interests	-48	-34	-34
Change, non-controlling interests	73	28	28
Option debt, acquisition	-29	-13	-96
Total comprehensive income	1,151	1,441	1,949
Closing balance	6,059	5,148	5,573


	3 months		9 months		Rolling 12 months
SEKm	31 Dec 2023	31 Dec 2022	31 Dec 2023	31 Dec 2022	31 Dec 2023	31 Mar 2023
Profit after financial items	516	492	1,604	1,394	2,215	2,005
Adjustment for items not included in cash flow	197	156	630	522	815	707
Income tax paid	-119	-122	-312	-335	-451	-474
Changes in working capital	150	50	-28	-481	126	-327
Cash flow from operating activities	744	576	1,894	1,100	2,705	1,911
Net investments in non-current assets	-54	-33	-123	-95	-211	-183
Acquisitions and disposals	-404	-153	-1,121	-1,135	-1,190	-1,204
Cash flow from investing activities	-458	-186	-1,244	-1,230	-1,401	-1,387
Dividend paid to shareholders	-	-	-674	-485	-674	-485
Repurchase of own shares/change of options	44	30	13	-48	13	-48
Other financing activities	-310	-409	274	799	-363	162
Cash flow from financing activities	-266	-379	-387	266	-1,024	-371
Cash flow for the period	20	11	263	136	280	153
Cash and cash equivalents at beginning of period	867	572	606	437	587	437
Exchange differences on cash and cash equivalents	-28	4	-10	14	-8	16
Cash and cash equivalents at end of period	859	587	859	587	859	606


	31 Dec 2023			31 Mar 2023
SEKm	Carrying amount	Level 2	Level 3	Carrying amount	Level 2	Level 3
Derivatives - fair value, hedge instruments	3	3	-	9	9	-
Derivatives - fair value through profit	10	10	-	9	9	-
Total financial assets at fair value per level	13	13	-	18	18	-

Derivatives - fair value, hedge instruments	9	9	-	3	3	-
Derivatives - fair value through profit	20	20	-	38	38	-
Contingent considerations - fair value through profit	393	-	393	295	-	295
Total financial liabilities at fair value per level	422	29	393	336	41	295

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 of 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	31 Dec 2023		31 Mar 2023
Opening balance	295			349
Acquisitions during the year	241			150
Adjustments through profit or loss	5			-40
Consideration paid	-162			-192
Interest expenses	12			11
Exchange differences	2			17
Closing balance	393			295


	12 months ending
	31 Dec 2023	31 Mar 2023	31 Dec 2022	31 Mar 2022	31 Mar 2021
Net sales, SEKm	20,195	18,714	17,363	14,038	11,336
EBITDA, SEKm	3,227	2,872	2,616	2,077	1,501
EBITA, SEKm	2,855	2,540	2,299	1,803	1,251
EBITA-margin, %	14.1	13.6	13.2	12.8	11.0
Operating profit, SEKm	2,437	2,167	1,943	1,501	989
Operating margin, %	12.1	11.6	11.2	10.7	8.7
Profit after financial items, SEKm	2,215	2,005	1,808	1,433	937
Profit for the period, SEKm	1,701	1,554	1,418	1,117	729
x
Working capital	4,215	3,855	3,543	2,618	2,416
Return on working capital (P/WC), %	68	66	65	69	52
Return on equity, %	29	32	31	30	23
Return on capital employed, %	22	22	21	20	15
Equity ratio, %	38	36	35	34	35
x
Financial debt, SEKm	4,792	4,325	4,850	4,061	3,134
Debt / equity ratio, multiple	0.8	0.8	0.9	1.0	0.9
Financial debt / EBITDA, multiple	1.5	1.5	1.9	2.0	2.1
Net debt excl. pensions, SEKm	4,543	4,107	4,586	3,747	2,798
Net debt, excl. pensions / equity ratio, multiple	0.7	0.7	0.9	0.9	0.8
Interest coverage ratio, multiple	9.3	13.7	15.8	22.4	15.8
x
Average number of employees	4,041	3,781	3,663	3,317	3,068
Number of employees at end of the period	4,146	3,911	3,861	3,556	3,133


	12 months ending
SEK	31 Dec 2023	31 Mar 2023	31 Dec 2022	31 Mar 2022	31 Mar 2021
Earnings per share before dilution	6.10	5.55	5.10	4.00	2.60
Earnings per share after dilution	6.10	5.55	5.05	3.95	2.60
Cash flow from operating activities per share	10.05	7.10	5.25	4.15	5.60
Shareholders’ equity per share	20.75	19.25	17.70	14.60	11.95
Share price at the end of the period	221.40	192.30	148.70	182.00	130.00
Average number of shares after repurchases, ’000s	269,590	269,557	269,543	269,400	269,051
Average number of shares adjusted for repurchases and dilution, ’000s	269,713	269,723	269,698	270,346	269,969
Number of shares outstanding at end of the period, ’000s	269,737	269,565	269,565	269,528	269,275

For definitions of key financial indicators, see page 18-20.