Key Ratios
Q1 2011 | Q2 2011 | Q3 2011 | Q4 2011 | Q1 2012 | Q2 2012 | Q3 2012 | Q4 2012 | Q1 2013 | Q2 2013 | Q3 2013 | Q4 2013 | Q1 2014 | Q2 2014 | Q3 2014 | Q4 2014 | Q1 2015 | Q2 2015 | Q3 2015 | Q4 2015 | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 | Q1 2019 | Q2 2019 | Q3 2019 | Q4 2019 | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | |
Earnings measurement | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total net sales | 122,165 | 179,977 | 171,410 | 185,657 | 134,844 | 205,712 | 170,269 | 169,204 | 140,341 | 203,132 | 196,898 | 188,155 | 141,705 | 230,585 | 196,408 | 171,973 | 147,966 | 224,909 | 160,364 | 184,651 | 162,836 | 240,141 | 180,576 | 226,620 | 161,544 | 248,590 | 198,420 | 246,893 | 165,631 | 262,105 | 197,632 | |||||||||||||||||||||
Currency effects, net sales | -1,660 | -760 | 3,271 | 1,589 | 3,860 | -675 | -739 | 3,198 | 3,926 | 10,069 | 6,953 | 6,865 | 4,502 | 4,136 | 5,629 | 3,393 | 807 | -5,480 | -6,588 | -7,845 | -7,365 | -2,321 | -444 | 4,946 | 5,621 | 9,475 | 11,334 | 8,509 | 7,080 | 11,494 | 4,504 | |||||||||||||||||||||
Net sales excl. currency effects | 123,825 | 180,737 | 168,139 | 184,068 | 130,928 | 206,387 | 171,008 | 166,006 | 136,415 | 193,063 | 189,945 | 185,907 | 137,203 | 226,450 | 190,778 | 168,579 | 153,076 | 230,389 | 166,952 | 192,496 | 170,201 | 242,462 | 181,020 | 221,674 | 155,923 | 239,115 | 187,085 | 238,384 | 158,551 | 250,611 | 193,128 | |||||||||||||||||||||
Total store sales | 13,387 | 23,080 | 24,543 | 28,220 | 32,021 | 40,080 | 40,264 | 26,398 | 31,899 | 35,888 | 37,791 | 23,759 | 30,276 | 38,022 | 41,478 | 20,895 | 22,264 | 49,839 | 30,063 | 11,704 | 12,547 | 40,203 | 27,764 | 16,654 | 23,816 | 29,243 | 29,465 | 19,817 | 23,796 | 29,643 | 29,643 | |||||||||||||||||||||
Non comparable store sales | 1,943 | 4,392 | 4,465 | 15,513 | 19,310 | 21,711 | 19,782 | 2,136 | 2,240 | 1,160 | 654 | 122 | 0 | 3,597 | 5,864 | 2,335 | 4,455 | 17,007 | 8,119 | 1,501 | -7,851 | 9,841 | 1,867 | 1,277 | 933 | 4,343 | 1,762 | 149 | -518 | 2,422 | 2,422 | |||||||||||||||||||||
Comparable store sales | 11,443 | 18,688 | 20,078 | 12,706 | 12,711 | 18,369 | 20,481 | 24,262 | 29,659 | 31,653 | 37,228 | 23,637 | 30,276 | 34,425 | 48,193 | 18,560 | 17,809 | 32,832 | 21,943 | 10,203 | 20,398 | 30,362 | 25,897 | 15,377 | 22,882 | 24,900 | 27,703 | 19,668 | 24,314 | 27,221 | 27,221 | |||||||||||||||||||||
Comparable store growth, % | -9.7% | -1.8% | 10.0% | -12.7% | -0.1% | -9.2% | -12.8% | -10.5% | 0.3% | -5.7% | -0.8% | -1.4% | 0.4% | 3.3% | 1.1% | -17.0% | -38.2% | -5.2% | -37.7% | -40.0% | 22.1% | 1.8% | 18.9% | 59.2% | 10.8% | -10.7% | 24.4% | 40.7% | 21.4% | 16.1% | 16.1% | |||||||||||||||||||||
Net profit for the period | 20,660 | 6,458 | 24,072 | 48,960 | 9,321 | 984 | 25,055 | 11,884 | 6,007 | 3,415 | 15,527 | -11,043 | 15,631 | 2,216 | 24,043 | 5,906 | 14,865 | -2,274 | 21,713 | 7,340 | 6,535 | -2,202 | 24,680 | 17,884 | 5,020 | -3,342 | 24,647 | 11,047 | 14,859 | 1,474 | 28,954 | 14,601 | 16,879 | -2,261 | 27,006 | -2,677 | 10,633 | -18,820 | 25,761 | 1,258 | 21,313 | 13,542 | 40,101 | 11,075 | 23,132 | 262 | 22,190 | 5,290 | 24,785 | 4,189 | 32,043 | 14,951 |
Margin measurements | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross profit margin, % | 50.0% | 54.9% | 49.8% | 52.5% | 48.5% | 51.4% | 50.9% | 51.9% | 50.1% | 52.1% | 51.8% | 52.1% | 52.8% | 52.5% | 52.4% | 54.1% | 53.6% | 53.0% | 51.9% | 51.8% | 50.0% | 53.5% | 50.4% | 48.0% | 48.9% | 52.1% | 56.3% | 58.3% | 57.1% | 59.9% | 57.6% | 55.5% | 56.8% | 55.4% | 52.5% | 50.8% | 54.1% | 49.1% | 50.4% | 56.6% | 53.3% | 56.3% | 54.4% | 53.1% | 50.0% | 54.5% | 48.2% | 52.1% | 52.2% | 55.6% | 52.6% | 56.8% |
Gross profit margin excl. currency effects, % | 53.4% | 50.4% | 49.9% | 50.1% | 53.5% | 54.7% | 55.4% | 53.3% | 58.1% | 58.9% | 57.6% | 60.0% | 57.9% | 54.3% | 52.8% | 55.3% | 52.0% | 49.7% | 53.1% | 49.8% | 52.2% | 54.0% | 54.2% | 52.7% | 59.6% | 54.5% | 56.6% | 54.4% | 56.7% | 52.5% | 56.2% | |||||||||||||||||||||
Operating margin, % | 18.9% | 8.1% | 21.0% | 11.3% | 10.4% | 4.7% | 21.2% | 10.9% | 7.1% | 0.8% | 14.7% | neg | 13.3% | 0.5% | 20.0% | 2.6% | 9.8% | neg | 17.2% | 9.5% | 8.8% | 0.2% | 15.9% | 12.5% | 3.6% | -0.2% | 15.6% | 9.9% | 8.9% | 2.1% | 18.2% | 8.1% | 9.9% | -1.2% | 14.3% | 0.7% | 4.2% | -9.1% | 14.9% | 4.0% | 12.1% | 11.8% | 21.8% | 5.5% | 12.9% | 3.2% | 12.3% | 3.9% | 12.7% | 4.9% | 15.6% | 10.2% |
Profit margin, % | 18.7% | 8.9% | 20.8% | 12.0% | 9.0% | 3.7% | 20.1% | 13.7% | 5.4% | 4.2% | 14.2% | neg | 14.0% | 4.1% | 20.7% | 4.1% | 13.6% | neg | 15.4% | 7.8% | 6.1% | 0.0% | 15.8% | 14.8% | 3.6% | -1.5% | 15.1% | 9.2% | 11.3% | 2.3% | 17.5% | 8.2% | 9.6% | -2.0% | 14.8% | -1.3% | 7.7% | -15.4% | 14.7% | -3.6% | 14.0% | 11.1% | 21.2% | 6.7% | 12.9% | 2.7% | 12.3% | 3.2% | 12.4% | 3.3% | 15.5% | 10.7% |
Capital structure | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity / assets ratio, % | 72.0% | 68.3% | 70.2% | 72.1% | 72.8% | 46.9% | 48.3% | 49.6% | 50.0% | 44.8% | 46.3% | 45.5% | 48.4% | 44.3% | 49.4% | 46.7% | 49.7% | 46.2% | 48.8% | 50.3% | 53.6% | 48.5% | 50.9% | 53.7% | 53.1% | 45.7% | 47.3% | 51.3% | 55.7% | 45.3% | 47.9% | 47.7% | 41.1% | 35.2% | 38.1% | 46.9% | 46.8% | 39.4% | 47.8% | 51.8% | 54.3% | 50.1% | 53.1% | 53.4% | 60.9% | 53.3% | 52.3% | 54.0% | 61.9% | 53.5% | 55.4% | 59.6% |
Equity per share, SEK | 17.83 | 12.88 | 13.83 | 15.78 | 16.17 | 12.19 | 13.22 | 13.69 | 13.95 | 11.02 | 11.65 | 11.16 | 11.77 | 10.27 | 11.52 | 11.36 | 11.79 | 10.29 | 11.21 | 11.56 | 11.93 | 9.81 | 10.84 | 11.5 | 11.73 | 9.70 | 10.60 | 11.03 | 11.58 | 9.59 | 10.69 | 11.20 | 11.86 | 9.68 | 10.7 | 10.53 | 10.95 | 10.33 | 11.37 | 11.57 | 12.25 | 11.28 | 12.92 | 13.29 | 14.22 | 11.79 | 12.64 | 12.92 | 13.97 | 12.39 | 13.53 | 13.95 |
Investments in intangible assets | 3,793 | 2,932 | 3,378 | 2,007 | 89 | 965 | 1,155 | 470 | 247 | 119 | 328 | 839 | 106 | 28 | 4 | 1,294 | 136 | 0 | 0 | 165 | 61 | 9 | -4 | 0 | 368 | 1,658 | 2,070 | 30 | 1,155 | 1,275 | 2,823 | 2,011 | 1,940 | 630 | 435 | 840 | 337 | 1,685 | 154 | 1,298 | 2,306 | 570 | 1,259 | 693 | 265 | 0 | 0 | 0 | 0 | 679 | 465 | 948 |
Investments in tangible assets | 3,257 | 2,430 | 2,288 | 5,350 | 892 | 647 | 583 | 1,721 | 1,257 | 1,438 | 1,380 | 4,013 | 474 | 179 | 136 | 561 | 192 | 427 | 792 | 3,335 | 590 | 861 | 2,230 | 128 | 625 | 2,196 | 3,012 | 2,830 | 1,915 | 474 | 3,435 | 662 | 940 | 1,489 | 1,936 | 4,367 | 906 | 781 | 350 | 3,453 | 1,255 | 2,386 | 631 | 1,408 | 1,780 | 2,483 | 1,560 | 2,235 | 2,690 | 1,983 | 2,404 | 1,973 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6,585 | 0 | 0 | 0 | 0 | 0 | 0 | 1,410 | 0 | 0 | |||||||||||||||||||||||||||||||||||
Depreciation for the period | -5,232 | -4,572 | -4,938 | -2,424 | -1,776 | -1,583 | -1,567 | -1,512 | -1,557 | -1,596 | -1,945 | -1,819 | -1,927 | -1,921 | -1,870 | -3,159 | -1,861 | -1,706 | -1,519 | -1,506 | -1,625 | -1,738 | -1,817 | -1,617 | -2,264 | -2,222 | -2,542 | -2,877 | -2,081 | -2,431 | -2,163 | -2,202 | -12,801 | -12,912 | -12,451 | -19,063 | -11,979 | -11,993 | -8,695 | -8,179 | -8,536 | -8,703 | -9,451 | -8,814 | -8,766 | -8,835 | -8,531 | -8,609 | -8,623 | -8,182 | -8,106 | -8,104 |
Returns | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Return on capital employed, % | 21.0% | 29.5% | 23.3% | 19.5% | 15.6% | 15.6% | 15.5% | 15.9% | 12.6% | 14.8% | 12.5% | 7.0% | 8.1% | 10.5% | 11.8% | 14.8% | 13.5% | 14.8% | 13.5% | 14.8% | 12.0% | 14.8% | 13.8% | 14.3% | 16.0% | 16.0% | 15.9% | 14.0% | 16.0% | 17.9% | 17.9% | 18.4% | 16.6% | 16.7% | 15.7% | 12.0% | 8.7% | 5.7% | 5.3% | 4.8% | 8.8% | 17.8% | 21.2% | 24.4% | 23.9% | 24.8% | 17.4% | 17.1% | 16.7% | 21.1% | 18.7% | 25.2% |
Return on average equity, % | 18.2% | 24.5% | 19.8% | 25.6% | 22.0% | 28.1% | 26.4% | 14.3% | 13.0% | 17.6% | 13.8% | 6.9% | 4.0% | 11.4% | 12.1% | 17.2% | 16.4% | 17.0% | 14.4% | 15.6% | 12.3% | 14.1% | 13.4% | 16.3% | 15.0% | 16.2% | 15.8% | 13.1% | 16.2% | 21.4% | 21.1% | 21.5% | 21.0% | 24.0% | 20.9% | 14.3% | 11.4% | 6.4% | 5.4% | 6.8% | 10.1% | 22.8% | 25.0% | 27.5% | 26.4% | 25.7% | 17.6% | 15.4% | 14.8% | 18.6% | 20.2% | 22.5% |
Per share data | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings per share, SEK | 0.89 | 0.33 | 1.05 | 1.92 | 0.44 | 0.10 | 1.11 | 0.45 | 0.30 | 0.23 | 0.74 | -0.40 | 0.62 | 0.15 | 1.00 | 0.18 | 0.61 | -0.04 | 0.88 | 0.34 | 0.28 | -0.09 | 0.95 | 0.74 | 0.18 | -0.11 | 0.98 | 0.43 | 0.60 | 0.06 | 1.15 | 0.58 | 0.67 | -0.09 | 1.07 | -0.11 | 0.42 | -0.75 | 1.02 | 0.05 | 0.85 | 0.54 | 1.59 | 0.44 | 0.92 | 0.01 | 0.88 | 0.21 | 0.99 | 0.17 | 1.27 | 0.59 |
Earnings per share after full dilution, SEK | 0.88 | 0.33 | 1.05 | 1.92 | 0.44 | 0.10 | 1.11 | 0.45 | 0.30 | 0.23 | 0.74 | -0.40 | 0.62 | 0.15 | 1.00 | 0.18 | 0.61 | -0.04 | 0.84 | 0.29 | 0.28 | -0.08 | 0.95 | 0.74 | 0.18 | -0.11 | 0.98 | 0.43 | 0.60 | 0.06 | 1.15 | 0.58 | 0.67 | -0.09 | 1.07 | -0.11 | 0.42 | -0.75 | 1.02 | 0.05 | 0.85 | 0.54 | 1.59 | 0.44 | 0.92 | 0.01 | 0.88 | 0.21 | 0.99 | 0.17 | 1.27 | 0.59 |
Number of shares | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 |
Weighted average number of shares | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 |
Effect dilution | 330,473 | 176,751 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 456,000 | 456,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Weighted average number of shares after full dilution | 25,478,857 | 25,325,135 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,604,384 | 25,604,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 | 25,148,384 |
Other | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Average number of employees | 100 | 105 | 119 | 131 | 124 | 141 | 160 | 212 | 213 | 211 | 211 | 212 | 211 | 211 | 212 | 213 | 208 | 205 | 198 | 192 | 185 | 179 | 169 | 162 | 158 | 157 | 154 | 147 | 147 | 150 | 152 | 151 |
Analysis in Swedish from Erik Penser Bank: