financial development
Net sales and profit
Net sales in the Addtech Group rose by 8 percent during the financial year to SEK 6,155 million (5,719). The organic growth increased marginally and acquired growth totalled 8 percent. Exchange rate changes had a marginally negative effect on net sales, corresponding to SEK 20 million, and a marginally positive effect on operating profit, corresponding to SEK 3 million. Operating profit increased during the financial year by 3 percent to SEK 443 million (431) and the operating margin stood at 7.2 percent (7.5). Net financial items were SEK -20 million (-21) and profit after financial items increased by 3 percent to SEK 423 million (410). Profit after tax for the financial year rose by 4 percent to SEK 333 million (321) and the effective tax rate was 21 percent (22). EPS before and after dilution for the financial year amounted to SEK 4.85 (4.70).
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Dynamisk graf: Net sales and operating margin
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Dynamisk graf: Operating profit and return on working capital (P/WC)
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Profitability, financial position and cash flow
The return on equity at the end of the financial year was 20 percent (28), and return on capital employed was 16 percent (23). Return on working capital P/WC (operating profit in relation to working capital) amounted to 38 percent (44).
At the end of the financial year the equity ratio stood at 40 percent (40). Equity per share, excluding non-controlling interest, totalled SEK 22.10 (22.60). The Group's net debt at the end of the year stood at SEK 623 million (510), excluding pension liabilities of SEK 199 million (318). The net debt/equity ratio, calculated on the basis of net debt excluding provisions for pensions, totalled 0.4 (0.3).
Cash and cash equivalents, consisting of cash and bank balances together with approved but non-utilised credit facilities, totalled SEK 754 million (676) at 31 March 2016.
Cash flow from operating activities reached SEK 474 million (557) during the financial year. Company acquisitions and disposals including settlement of additional purchase consideration regarding acquisitions implemented in previous years amounted to SEK 623 million (268). Investments in non-current assets totalled SEK 90 million (61) and disposal of non-current assets totalled SEK 24 million (6). Dividend for the year totalled SEK 217 million (200), the repurchase of treasury shares amounted to SEK 45 million (35) and exercised and issued call options totalled SEK 61 million (41).