financial development
Net sales and profit
Net sales in the Addtech Group increased by 12 percent during the financial year to SEK 8,022 million (7,178). The organic growth amounted to 5 percent and acquired growth amounted to 8 percent and divestments affected with -2 percent. Exchange rate changes had a positive effect of 1 percent on net sales, corresponding to SEK 46 million.
Operating profit increased during the financial year by 16 percent to SEK 701 million (604) and the operating margin amounted to 8.7 percent (8.4). Net financial items were SEK -36 million (-24) and profit after financial items increased by 15 percent to SEK 665 million (580). Profit after tax for the financial year rose by 17 percent to SEK 526 million (450) and the effective tax rate was 21 percent (22). Earnings per share before dilution for the financial year amounted to SEK 7.70 (6.60).
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Dynamisk graf: Net sales and EBITA margin
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Dynamisk graf: EBITA 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 28 percent (28), and return on capital employed was 22 percent (23). Return on working capital P/WC (EBITA in relation to working capital) amounted to 53 percent (53).
At the end of the financial year the equity ratio stood at 39 percent (39). Equity per share, excluding non-controlling interest, totalled SEK 31.10 (25.45). The Group's net debt at the end of the year amounted to SEK 1,176 million (801), excluding pension liabilities of SEK 229 million (210). The net debt/equity ratio, calculated on the basis of net debt excluding provisions for pensions, amounted to 0.6 (0.5).
Cash and cash equivalents, consisting of cash and bank balances together with approved but non-utilised credit facilities, amounted to SEK 573 million (818) at 31 March 2018.
Cash flow from operating activities amounted to SEK 539 million (551) during the financial year. Company acquisitions and disposals including settlement of contingent consideration regarding acquisitions implemented in previous years amounted to SEK 477 million (335). Investments in non-current assets totalled SEK 54 million (68) and disposal of non-current assets amounted to SEK 7 million (5). Dividend from associated company amounted to SEK 4 million (3). Repurchase of treasury shares amounted to SEK 31 million (40) and repurchase of call options amounted to SEK 5 million (6). Exercised and issued call options totalled SEK 36 million (18). Dividends paid to the shareholders of the Parent Company totalled SEK 235 million (218), corresponding to SEK 3.50 (3.25) per share.