	3 months		6 months		Rolling 12 months
SEKm	30 Sep 2018	30 Sep 2017	30 Sep 2018	30 Sep 2017	30 Sep 2018	31 Mar 2018
Net sales	2,338	1,892	4,733	3,871	8,884	8,022
Cost of sales	-1,615	-1,309	-3,265	-2,667	-6,120	-5,522
Gross profit	723	583	1,468	1,204	2,764	2,500
Selling expenses	-378	-300	-773	-636	-1,501	-1,364
Administrative expenses	-126	-100	-259	-210	-504	-455
Other operating income and expenses	7	-2	11	4	27	20
Operating profit	226	181	447	362	786	701
- as % of net sales	9.7	9.6	9.5	9.4	8.9	8.7
Financial income and expenses	-5	-8	-21	-12	-45	-36
Profit after financial items	221	173	426	350	741	665
- as % of net sales	9.5	9.1	9.0	9.0	8.4	8.3
Income tax expense	-47	-38	-90	-72	-157	-139
Profit for the period	174	135	336	278	584	526

Profit for the period attributable to:
Equity holders of the Parent Company	172	132	331	272	573	514
Non-controlling interests	2	3	5	6	11	12

Earnings per share before dilution, SEK	2.60	1.95	4.95	4.05	8.60	7.70
Earnings per share after dilution, SEK	2.55	1.95	4.90	4.05	8.50	7.65

Average number of shares after repurchases, ’000s	67,110	67,006	67,082	66,966	67,008	66,950
Number of shares at end of the period, ’000s	66,969	66,863	66,969	66,863	66,969	66,992

	3 months		6 months		Rolling 12 months
SEKm	30 Sep 2018	30 Sep 2017	30 Sep 2018	30 Sep 2017	30 Sep 2018	31 Mar 2018
Profit for the period	174	135	336	278	584	526
Items that may be reclassified to profit or loss
Cash flow hedges	-1	-1	-1	-1	0	0
Foreign currency translation differences for the period	-40	10	10	-10	135	115
Items that will not be reclassified to profit or loss
Actuarial effects of the net pension obligation	-18	-	-18	-	-25	-7
Other comprehensive income	-59	9	-9	-11	110	108
Total comprehensive income	115	144	327	267	694	634

Total comprehensive income attributable to:
Equity holders of the Parent Company	113	142	322	262	679	619
Non-controlling interests	2	2	5	5	15	15

SEKm	30 Sep 2018	30 Sep 2017	31 Mar 2018
Goodwill	1,736	1,201	1,456
Other intangible non-current assets	1,223	831	1,007
Property, plant and equipment	253	186	207
Financial non-current assets	47	30	32
Total non-current assets	3,259	2,248	2,702
Inventories	1,289	1,020	1,118
Current receivables	1,778	1,421	1,507
Cash and cash equivalents	246	166	192
Total current assets	3,313	2,607	2,817
Total assets	6,572	4,855	5,519
Total equity	2,150	1,759	2,131
Interest-bearing provisions	252	218	229
Non-interest-bearing provisions	361	282	322
Non-current interest-bearing liabilities	762	256	411
Non-current non-interest-bearing liabilities	11	13	11
Total non-current liabilities	1,386	769	973
Non-interest-bearing provisions	26	49	31
Current interest-bearing liabilities	1,437	1,045	958
Current non-interest-bearing liabilities	1,573	1,233	1,426
Total current liabilities	3,036	2,327	2,415
Total equity and liabilities	6,572	4,855	5,519

SEKm	30 Sep 2018	30 Sep 2017	31 Mar 2018
Opening balance	2,131	1,741	1,741
Exercised, issued and repurchased options	7	21	31
Repurchase of treasury shares	-38	-31	-31
Dividend, ordinary	-269	-235	-235
Dividend, non-controlling interests	-6	-4	-9
Förändring innehav utan bestämmande inflytande	-2	-	-
Total comprehensive income	327	267	634
Closing balance	2,150	1,759	2,131

	3 months		6 months		Rolling 12 months
SEKm	30 Sep 2018	30 Sep 2017	30 Sep 2018	30 Sep 2017	30 Sep 2018	31 Mar 2018
Profit after financial items	221	173	426	350	741	665
Adjustment for items not included in cash flow	25	50	94	83	170	159
Income tax paid	-59	-39	-86	-67	-188	-169
Changes in working capital	-94	-133	-289	-230	-175	-116
Cash flow from operating activities	93	51	145	136	548	539
Net investments in non-current assets	-11	-7	-21	-12	-52	-43
Acquisitions and disposals	-360	32	-500	-140	-837	-477
Cash flow from investing activities	-371	25	-521	-152	-889	-520
Dividend paid to shareholders	-269	-235	-269	-235	-269	-235
Repurchase of own shares/change of options	-38	-28	-31	-10	-21	0
Other financing activities	616	180	728	256	695	223
Cash flow from financing activities	309	-83	428	11	405	-12
Cash flow for the period	31	-7	52	-5	64	7
Cash and cash equivalents at beginning of period	223	173	192	178	166	178
Exchange differences on cash and cash equivalents	-8	0	2	-7	16	7
Cash and cash equivalents at end of period	246	166	246	166	246	192

	30 Sep 2018			31 Mar 2018
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	1	1	-	2	2	-
Total financial assets at fair value per level	1	1	-	4	4	-

Derivatives - fair value, hedge instruments	1	1	-	0	0	-
Derivatives - fair value through profit	3	3	-	5	5	-
Contingent considerations - fair value through profit	248	-	248	215	-	215
Total financial liabilities at fair value per level	252	4	248	220	5	215

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 2018		31 Mar 2018
Opening balance	215			105
Acquisitions during the year	70			152
Reversed through profit or loss	-2			-9
Consideration paid	-41			-49
Interest expenses	5			8
Exchange differences	1			8
Closing balance	248			215

	12 months ending
	30 Sep 2018	31 Mar 2018	30 Sep 2017	31 Mar 2017	31 Mar 2016
Net sales, SEKm	8,884	8,022	7,631	7,178	6,155
EBITDA, SEKm	988	881	822	755	570
EBITA, SEKm	941	838	780	715	536
EBITA-margin, SEKm	10.6	10.5	10.2	10.0	8.7
Operating profit, SEKm	786	701	657	604	443
Operating margin, %	8.9	8.7	8.6	8.4	7.2
Profit after financial items, SEKm	741	665	630	580	423
Profit for the period, SEKm	584	526	494	450	333

Working capital	1,791	1,591	1,469	1,362	1,208
Return on working capital (P/WC), %	53	53	53	53	44
Return on equity, %	29	28	29	28	20
Return on capital employed, %	21	22	23	23	16
Equity ratio, %	33	39	36	39	40

Net debt, incl pensions, SEKm	2,205	1,405	1,353	1,011	822
Net debt, incl pensions / equity ratio, multiple	1.0	0.7	0.8	0.6	0.6
Net debt, incl pensions / EBITDA, multiple	2.2	1.6	1.6	1.3	1.4
Net debt excl. pensions, SEKm	1,953	1,176	1,135	801	623
Net debt, excl pensions / equity ratio, multiple	0.9	0.6	0.6	0.5	0.4
Interest coverage ratio, multiple	21.6	22.7	23.9	23.9	20.3

Average number of employees*	2,407	2,283	2,201	2,133	2,386
Number of employees at end of the period	2,654	2,358	2,262	2,176	2,076

* Average number of employees includes discontinued operations in the period 31 March 2016.

	12 months ending
SEK	30 Sep 2018	31 Mar 2018	30 Sep 2017	31 Mar 2017	31 Mar 2016
Earnings per share before dilution	8.60	7.70	7.20	6.60	4.85
Earnings per share after dilution	8.50	7.65	7.15	6.55	4.85
Cash flow from operating activities per share	8.20	8.05	7.10	8.25	7.10
Shareholders’ equity per share	31.40	31.10	25.70	25.45	22.10
Share price at the end of the period	189.60	168.00	163.50	148.50	112.00
Average number of shares after repurchases, ’000s	67,008	66,950	66,841	66,824	66,703
Average number of shares adjusted for repurchases and dilution, ’000s	67,176	67,178	67,055	67,008	66,809
Number of shares outstanding at end of the period, ’000s	66,969	66,992	66,863	66,824	66,958

Latest updated: 10/24/2018 3:14:21 PM by eva.skoglund@addtech.com