	3 months		6 months		Rolling 12 months
SEKm	30 Sep 2017	30 Sep 2016	30 Sep 2017	30 Sep 2016	30 Sep 2017	31 Mar 2017
Net sales	1,892	1,658	3,871	3,418	7,631	7,178
Cost of sales	-1,309	-1,138	-2,667	-2,339	-5,267	-4,939
Gross profit	583	520	1,204	1,079	2,364	2,239
Selling expenses	-300	-279	-636	-592	-1,285	-1,241
Administrative expenses	-100	-91	-210	-195	-447	-432
Other operating income and expenses	-2	6	4	17	25	38
Operating profit	181	156	362	309	657	604
- as % of net sales	9.6	9.4	9.4	9.0	8.6	8.4
Financial income and expenses	-8	-1	-12	-9	-27	-24
Profit after financial items	173	155	350	300	630	580
- as % of net sales	9.1	9.3	9.0	8.8	8.3	8.1
Income tax expense	-38	-34	-72	-66	-136	-130
Profit for the period	135	121	278	234	494	450
Profit for the period attributable to:
Equity holders of the Parent Company	132	121	272	231	481	440
Non-controlling interests	3	0	6	3	13	10
Earnings per share before dilution, SEK	1.95	1.80	4.05	3.45	7.20	6.60
Earnings per share after dilution, SEK	1.95	1.80	4.05	3.45	7.15	6.55
Average number of shares after repurchases, ’000s	67,006	66,907	66,966	66,932	66,841	66,824
Number of shares at end of the period, ’000s	66,863	66,670	66,863	66,670	66,863	66,824

	3 months		6 months		Rolling 12 months
SEKm	30 Sep 2017	30 Sep 2016	30 Sep 2017	30 Sep 2016	30 Sep 2017	31 Mar 2017
Profit for the period	135	121	278	234	494	450
Components that will be reclassified to profit for the year
Cash flow hedges	-1	1	-1	1	-1	1
Foreign currency translation differences for the period	10	40	-10	76	-34	52
Components that will not be reclassified to profit for the year
Actuarial effects of the net pension obligation	-	-	-	-	-10	-10
Other comprehensive income	9	41	-11	77	-45	43
Total comprehensive income	144	162	267	311	449	493
Total comprehensive income attributable to:
Equity holders of the Parent Company	142	161	262	307	437	482
Non-controlling interests	2	1	5	4	12	11

SEKm	30 Sep 2017	30 Sep 2016	31 Mar 2017
Goodwill	1,201	949	1,101
Other intangible non-current assets	831	686	791
Property, plant and equipment	186	177	190
Financial non-current assets	30	31	27
Total non-current assets	2,248	1,843	2,109
Inventories	1,020	942	942
Current receivables	1,421	1,180	1,286
Cash and cash equivalents	166	128	178
Total current assets	2,607	2,250	2,406
Total assets	4,855	4,093	4,515
Total equity	1,759	1,545	1,741
Interest-bearing provisions	218	201	210
Non-interest-bearing provisions	282	248	278
Non-current interest-bearing liabilities	256	35	69
Non-current non-interest-bearing liabilities	13	0	18
Total non-current liabilities	769	484	575
Non-interest-bearing provisions	49	13	26
Current interest-bearing liabilities	1,045	926	910
Current non-interest-bearing liabilities	1,233	1,125	1,263
Total current liabilities	2,327	2,064	2,199
Total equity and liabilities	4,855	4,093	4,515

SEKm	30 Sep 2017	30 Sep 2016	31 Mar 2017
Opening balance	1,741	1,514	1,514
Exercised, issued and repurchased options	21	-6	12
Repurchase of treasury shares	-31	-40	-40
Dividend, ordinary	-235	-218	-218
Dividend, non-controlling interests	-4	-4	-8
Change non-controlling interests	-	2	2
Option debt, acquisition	-	-9	-9
Distribution of AddLife	-	-5	-5
Total comprehensive income	267	311	493
Closing balance	1,759	1,545	1,741

	3 months		6 months		Rolling 12 months
SEKm	30 Sep 2017	30 Sep 2016	30 Sep 2017	30 Sep 2016	30 Sep 2017	31 Mar 2017
Profit after financial items	173	155	350	300	630	580
Adjustment for items not included in cash flow	50	21	83	70	147	134
Income tax paid	-39	-15	-67	-44	-146	-123
Changes in working capital	-133	-51	-230	-112	-158	-40
Cash flow from operating activities	51	110	136	214	473	551
Net investments in non-current assets	-7	-16	-12	-22	-50	-60
Acquisitions and disposals	32	-15	-140	-90	-385	-335
Cash flow from investing activities	25	-31	-152	-112	-435	-395
Dividend paid to shareholders	-235	-218	-235	-218	-235	-218
Repurchase of own shares/ change of options	-28	-40	-10	-46	8	-28
Other financing activities	180	121	256	142	234	120
Cash flow from financing activities	-83	-137	11	-122	7	-126
Cash flow for the period	-7	-58	-5	-20	45	30
Cash and cash equivalents at beginning of period	173	184	178	140	128	140
Exchange differences on cash and cash equivalents	0	2	-7	8	-7	8
Cash and cash equivalents at end of period	166	128	166	128	166	178

	30 Sep 2017			31 Mar 2017
SEKm	Carrying amount	Level 2	Level 3	Carrying amount	Level 2	Level 3
Derivatives used in hedge accounting	1	1	-	1	1	-
Derivatives held for trading purposes	1	1	-	2	2	-
Total financial assets at fair value per level	2	2	-	3	3	-

Derivatives used in hedge accounting	2	2	-	0	0	-
Derivatives held for trading purposes	2	2	-	1	1	-
Contingent considerations	146	-	146	105	-	105
Total financial liabilities at fair value per level	150	4	146	106	1	105
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 Sep 2017		31 Mar 2017
Opening balance	105			55
Acquisitions during the year	58			86
Reversed through profit or loss	-2			-12
Consideration paid	-17			-27
Interest expenses	3			3
Exchange differences	-1			0
Closing balance	146			105

	12 months ending
	30 Sep 2017	31 Mar 2017	30 Sep 2016	31 Mar 2016	31 Mar 2015
Net sales, SEKm	7,631	7,178	6,619	6,155	5,719
EBITDA, SEKm	822	755	657	570	542
EBITA, SEKm	780	715	621	536	510
EBITA margin, %	10.2	10.0	9.4	8.7	8.9
Operating profit, SEKm	657	604	518	443	431
Operating margin, %	8.6	8.4	7.8	7.2	7.5
Profit after financial items, SEKm	630	580	495	423	408
Profit for the period, SEKm	494	450	390	333	321

Working capital	1,469	1,362	1,293	1,208	1,084
Return on working capital (P/WC), %	53	53	48	44	47
Return on equity, %	29	28	24	20	28
Return on capital employed, %	23	23	18	16	23
Equity ratio, %	36	39	38	40	40

Net debt, incl pensions, SEKm	1,353	1,011	1,034	822	828
Net debt, incl pensions / equity ratio, multiple	0.8	0.6	0.7	0.6	0.6
Net debt, incl pensions / EBITDA, multiple	1.6	1.3	1.6	1.4	1.2
Net debt excl. pensions, SEKm	1,135	801	833	623	510
Net debt, excl pensions / equity ratio, multiple	0.6	0.5	0.5	0.4	0.3
Interest coverage ratio, multiple	23.9	23.9	21.5	20.3	21.9

Average number of employees*	2,201	2,133	2,096	2,386	2,224
Number of employees at end of the period	2,262	2,176	2,128	2,076	2,286

* Average number of employees includes discontinued operations in the period 31 March 2016, and previous periods.

	12 months ending
SEK	30 Sep 2017	31 Mar 2017	30 Sep 2016	31 Mar 2016	31 Mar 2015
Earnings per share before dilution	7.20	6.60	5.70	4.85	4.70
Earnings per share after dilution	7.15	6.55	5.75	4.85	4.70
Cash flow from operating activities per share	7.10	8.25	8.20	7.10	8.40
Shareholders’ equity per share	25.70	25.45	22.60	22.10	22.60
Share price at the end of the period	163.50	148.50	134.25	112.00	115.75
Average number of shares after repurchases, ’000s	66,841	66,824	66,864	66,703	66,288
Average number of shares adjusted for repurchases and dilution, ’000s	67,055	67,008	67,071	66,809	66,615
Number of shares outstanding at end of the period, ’000s	66,863	66,824	66,670	66,958	66,456

** All figures regarding the balance sheet refer to continuing from 31 March 2016 without retroactivity for earlier periods.

Latest updated: 10/26/2017 8:30:44 AM by charlotte.becker@oxp.se