The Group in summary
| Income statement summary (in SEK millions unless stated otherwise) | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Net sales | 10019 | 9529 | 9513 | 8844 | 6719 |
| Other operating income | 100 | 95 | 131 | 124 | 112 |
| Operating costs | -8639 | -8054 | -7803 | -7213 | -5597 |
| Result before amortizations. depreciations and write-downs | 1480 | 1570 | 1840 | 1754 | 1233 |
| Amortizations. depreciations and write-downs | -339 | -308 | -263 | -249 | -227 |
| Operating result | 1141 | 1262 | 1577 | 1505 | 1006 |
| Net financial items | -108 | -129 | -138 | -55 | -43 |
| Result before tax | 1033 | 1133 | 1439 | 1450 | 963 |
| Tax expense | 250 | -253 | -320 | -281 | -203 |
| Result for the year | 783 | 880 | 1119 | 1169 | 760 |
| Balance Sheet in Brief | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Trademarks | 562 | 642 | 604 | 589 | 531 |
| Other Fixed Assets | 3 732 | 3 166 | 2 688 | 2 681 | 2 346 |
| Inventory | 5 642 | 5 124 | 5 347 | 5 298 | 2 938 |
| Accounts Receivables | 1 684 | 1 597 | 1 475 | 1 664 | 1 360 |
| Other Current Assets | 738 | 261 | 252 | 293 | 159 |
| Cash and Cash equivalents | 526 | 546 | 373 | 419 | 328 |
| Total Assets | 12 883 | 11 326 | 10 739 | 10 944 | 7 661 |
| Equity Attributable to Shareholders | 6 824 | 7 216 | 6 459 | 4 567 | 3 845 |
| Equity attributable to non-controlling interest | 0 | 1 | 1 | 1 | 1 |
| Provisions | 190 | 202 | 208 | 190 | 165 |
| Interest-Bearing Liabilities | 3 608 | 2 350 | 2 386 | 2 749 | 1 397 |
| Non-Interest-Bearing Liabilities | 2 261 | 1 543 | 1 670 | 2 114 | 1 532 |
| Total Equity and Liabilities | 12 883 | 11 326 | 10 739 | 10 944 | 7 661 |
| Cash flows | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Cash flow before changes in working capital and investments | 1 146 | 1 108 | 1 363 | 1 383 | 993 |
| Changes in working capital | -493 | 170 | -399 | -1 743 | 214 |
| Cash flow before investments | 653 | 1 278 | 964 | -360 | 1 207 |
| Net investments | -938 | -297 | -221 | -522 | -114 |
| Cash flow after investments | -285 | 982 | 743 | -882 | 1 093 |
| Financial payments | 316 | -830 | -785 | 934 | -1 111 |
| Cash flow for the year | 526 | 546 | 373 | 52 | -18 |
| Financial Highlights (in million SEK unless stated otherwise | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Net Sales | 10 019 | 9 529 | 9 513 | 8 844 | 6 719 |
| Operating Result | 1 141 | 1 262 | 1 577 | 1 505 | 1 006 |
| Result for the year | 783 | 880 | 1 119 | 1 169 | 760 |
| Cash Flow from Operating Activities | 653 | 1 278 | 964 | -360 | 1 207 |
| Balance Sheet Total | 12 883 | 11 326 | 10 739 | 10 944 | 7 660 |
| Net Sales Growth (%) | 5.1 | 0.2 | 7.6 | 31.6 | 10.2 |
| Gross Profit Margin (%) | 49.0 | 49.4 | 50.3 | 49.5 | 48.1 |
| Operating Margin (%) | 11.4 | 13.2 | 16.6 | 17.0 | 15.0 |
| Equity Margin (%) | 53.0 | 63.7 | 60.2 | 53.8 | 59.6 |
| Net debt to equity ratio (%) | 25.0 | 25.0 | 31.4 | 39.5 | 23.4 |
| Net Debt in Relation to Working Capital (%) | 32.9 | 32.9 | 37.2 | 44.7 | 35.7 |
| Earnings per Share (%) | 5.9 | 6.6 | 8.4 | 8.8 | 5.7 |
| Dividend per share (%) | 3.5 | 3.5 | 3.5 | 3.25 | 2 |
| Number of employees (Average no) | 2 603 | 2 451 | 2 450 | 2 312 | 2 060 |
| Per Share Data (Stated in SEK Unless Otherwise Stated) | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Number of shares before and after dilution* | 132 687 086 | 132 687 086 | 132 687 086 | 132 687 086 | 132 687 086 |
| Earnings per share before and after dilution, SEK* | 5.9 | 6.6 | 8.4 | 8.8 | 5.7 |
| Equity per share before and after dilution, SEK* | 51.4 | 54.4 | 48.7 | 44.4 | 34.4 |
| Share price on 31 December, SEK* | 114.6 | 97.2 | 101.9 | 103.2 | 83.9 |
| P/E ratio 31 December | 19.4 | 14.6 | 12.1 | 11.7 | 14.6 |
| Dividend per share, SEK* | 3.5 | 3.5 | 3.5 | 3.3 | 2.0 |
| Dividend yield, % | 3.1 | 3.6 | 3.4 | 2.1 | 2.4 |
| Operating cash flow per share, SEK* | 7.3 | 9.6 | 7.3 | 2.7 | 9.1 |
| - | - | - | - | - | - |
| *Recalculated with regard to the 2:1 share split carried out i May 2023 | - | - | - | - | - |