Group summary


	3 months		6 months		Rolling 12 months
SEKm	30 Sep 2023	30 Sep 2022	30 Sep 2023	30 Sep 2022	30 Sep 2023	31 Mar 2023
Net sales	4,879	4,418	9,968	8,794	19,888	18,714
Cost of sales	-3,339	-3,112	-6,857	-6,188	-13,760	-13,091
Gross profit	1,540	1,306	3,111	2,606	6,128	5,623
Selling expenses	-699	-607	-1,412	-1,220	-2,785	-2,593
Administrative expenses	-235	-204	-484	-419	-987	-922
Other operating income and expenses	12	-6	-2	4	53	59
Operating profit	618	489	1,213	971	2,409	2,167
- as % of net sales	12.7	11.1	12.2	11.0	12.1	11.6
Financial income and expenses	-39	-25	-125	-69	-218	-162
Profit after financial items	579	464	1,088	902	2,191	2,005
- as % of net sales	11.9	10.5	10.9	10.3	11.0	10.7
Income tax expense	-132	-102	-249	-196	-504	-451
Profit for the period	447	362	839	706	1,687	1,554

Profit for the period attributable to:
Equity holders of the Parent Company	434	350	812	679	1,628	1,495
Non-controlling interests	13	12	27	27	59	59

Earnings per share before dilution, SEK	1.60	1.30	3.00	2.50	6.05	5.55
Earnings per share after dilution, SEK	1.60	1.30	3.00	2.50	6.05	5.55

Average number of shares after repurchases, ’000s	269,566	269,590	269,566	269,571	269,554	269,557
Number of shares at end of the period, ’000s	269,566	269,426	269,566	269,426	269,566	269,565


	3 months		6 months		Rolling 12 months
SEKm	30 Sep 2023	30 Sep 2022	30 Sep 2023	30 Sep 2022	30 Sep 2023	31 Mar 2023
Profit for the period	447	362	839	706	1,687	1,554
Components that will be reclassified to profit for the year
Cash flow hedges	-4	-12	0	-11	12	1
Foreign currency translation differences for the period	-148	51	215	197	330	312
Components that will not be reclassified to profit for the year
Actuarial effects of the net pension obligation	16	21	16	76	22	82
Other comprehensive income	-136	60	231	262	364	395
Total comprehensive income	311	422	1,070	968	2,051	1,949

Total comprehensive income attributable to:
Equity holders of the Parent Company	303	409	1,037	937	1,982	1,882
Non-controlling interests	8	13	33	31	69	67


SEKm	30 Sep 2023	30 Sep 2022	31 Mar 2023
Goodwill	4,356	3,800	3,935
Other intangible non-current assets	2,578	2,381	2,377
Property, plant and equipment	1,275	1,151	1,179
Other non-current assets	79	77	80
Total non-current assets	8,288	7,409	7,571
Inventories	3,465	3,302	3,326
Current receivables	3,673	3,326	3,768
Cash and cash equivalents	867	572	606
Total current assets	8,005	7,200	7,700
Total assets	16,293	14,609	15,271
Total equity	5,900	4,650	5,573
Interest-bearing provisions	199	224	218
Non-interest-bearing provisions	702	588	633
Non-current interest-bearing liabilities	3,882	3,789	3,617
Non-current non-interest-bearing liabilities	20	9	18
Total non-current liabilities	4,803	4,610	4,486
Non-interest-bearing provisions	110	77	87
Current interest-bearing liabilities	1,699	1,794	1,096
Current non-interest-bearing liabilities	3,781	3,478	4,029
Total current liabilities	5,590	5,349	5,212
Total equity and liabilities	16,293	14,609	15,271


SEKm	30 Sep 2023	30 Sep 2022	31 Mar 2023
Opening balance	5,573	4,259	4,259
Exercised, issued and repurchased options	-31	-47	-17
Repurchase of treasury shares	-	-31	-31
Dividend, ordinary	-674	-485	-485
Dividend, non-controlling interests	-46	-29	-34
Change, non-controlling interests	37	28	28
Option debt, acquisition	-29	-13	-96
Total comprehensive income	1,070	968	1,949
Closing balance	5,900	4,650	5,573


	3 months		6 months		Rolling 12 months
SEKm	30 Sep 2023	30 Sep 2022	30 Sep 2023	30 Sep 2022	30 Sep 2023	31 Mar 2023
Profit after financial items	579	464	1,088	902	2,191	2,005
Adjustment for items not included in cash flow	160	182	433	366	774	707
Income tax paid	-137	-108	-193	-213	-454	-474
Changes in working capital	1	-295	-178	-531	26	-327
Cash flow from operating activities	603	243	1,150	524	2,537	1,911
Net investments in non-current assets	-38	-27	-69	-62	-190	-183
Acquisitions and disposals	-183	-204	-717	-982	-939	-1,204
Cash flow from investing activities	-221	-231	-786	-1,044	-1,129	-1,387
Dividend paid to shareholders	-674	-485	-674	-485	-674	-485
Repurchase of own shares/change of options	-30	-86	-31	-78	-1	-48
Other financing activities	328	597	584	1,208	-462	162
Cash flow from financing activities	-376	26	-121	645	-1,137	-371
Cash flow for the period	6	38	243	125	271	153
Cash and cash equivalents at beginning of period	879	540	606	437	572	437
Exchange differences on cash and cash equivalents	-18	-6	18	10	24	16
Cash and cash equivalents at end of period	867	572	867	572	867	606


	30 Sep 2023			31 Mar 2023
SEKm	Carrying amount	Level 2	Level 3	Carrying amount	Level 2	Level 3
Derivatives - fair value, hedge instruments	9	9	-	9	9	-
Derivatives - fair value through profit	10	10	-	9	9	-
Total financial assets at fair value per level	19	19	-	18	18	-

Derivatives - fair value, hedge instruments	3	3	-	3	3	-
Derivatives - fair value through profit	27	27	-	38	38	-
Contingent considerations - fair value through profit	331	-	331	295	-	295
Total financial liabilities at fair value per level	361	30	331	336	41	295

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 2023		31 Mar 2023
Opening balance	295			349
Acquisitions during the year	152			150
Reversed through profit or loss	0			-40
Consideration paid	-139			-192
Interest expenses	7			11
Exchange differences	16			17
Closing balance	331			295


	12 months ending
	30 Sep 2023	31 Mar 2023	30 Sep 2022	31 Mar 2022	31 Mar 2021
Net sales, SEKm	19,888	18,714	16,296	14,038	11,336
EBITDA, SEKm	3,171	2,872	2,428	2,077	1,501
EBITA, SEKm	2,811	2,540	2,128	1,803	1,251
EBITA-margin, %	14.1	13.6	13.1	12.8	11.0
Operating profit, SEKm	2,409	2,167	1,789	1,501	989
Operating margin, %	12.1	11.6	11.0	10.7	8.7
Profit after financial items, SEKm	2,191	2,005	1,680	1,433	937
Profit for the period, SEKm	1,687	1,554	1,310	1,117	729
x
Working capital	4,183	3,855	3,213	2,618	2,416
Return on working capital (P/WC), %	67	66	66	69	52
Return on equity, %	31	32	31	30	23
Return on capital employed, %	23	22	21	20	15
Equity ratio, %	36	36	32	34	35
x
Financial debt, SEKm	4,913	4,325	5,235	4,061	3,134
Debt / equity ratio, multiple	0.8	0.8	1.1	1.0	0.9
Financial debt / EBITDA, multiple	1.5	1.5	2.2	2.0	2.1
Net debt excl. pensions, SEKm	4,714	4,107	5,011	3,747	2,798
Net debt, excl. pensions / equity ratio, multiple	0.8	0.7	1.1	0.9	0.8
Interest coverage ratio, multiple	10.6	13.7	18.5	22.4	15.8
x
Average number of employees	3,966	3,781	3,553	3,317	3,068
Number of employees at end of the period	4,155	3,911	3,805	3,556	3,133


	12 months ending
SEK	30 Sep 2023	31 Mar 2023	30 Sep 2022	31 Mar 2022	31 Mar 2021
Earnings per share before dilution	6.05	5.55	4.65	4.00	2.60
Earnings per share after dilution	6.05	5.55	4.60	3.95	2.60
Cash flow from operating activities per share	9.40	7.10	4.50	4.15	5.60
Shareholders’ equity per share	20.35	19.25	15.95	14.60	11.95
Share price at the end of the period	175.20	192.30	147.40	182.00	130.00
Average number of shares after repurchases, ’000s	269,554	269,557	269,527	269,400	269,051
Average number of shares adjusted for repurchases and dilution, ’000s	269,667	269,723	269,819	270,346	269,969
Number of shares outstanding at end of the period, ’000s	269,566	269,565	269,426	269,528	269,275

For definitions of key financial indicators, see page 18-20.