Financial position and cash flow

The equity ratio at the end of the interim period was 44 percent (43). Equity per share amounted to SEK 48.86 (44.67) and return on equity at the end of the interim period was 11 percent (11). Return on working capital (P/WC) was 63 percent (62).

The Group’s net interest-bearing debt at the end of the interim period amounted to SEK 4,746 million (4,048), including pension liabilities of SEK 57 million (58), lease liabilities of SEK 571 million (504), contingent considerations corresponding to SEK 225 million (124) and provisions corresponding to SEK 27 million (29). Outstanding bank borrowings at the end of the interim period amounted to SEK 4,343 million (4,146), and were classified as current due to the remaining maturity. Subsequent to the end of the interim period, the company refinanced its existing bank facilities with a three-year term and two one-year extension options.

Available liquidity, consisting of cash and bank balances, together with granted but unutilised credit facilities, amounted in total to SEK 1,450 million (1,447) at the end of the interim period.

The net debt/equity ratio was 0.8, compared with 0.7 at the beginning of the year.

Cash flow from operating activities amounted to SEK 236 million (145) during the quarter and to SEK 505 million (504) during the interim period. The increase during the quarter was primarily attributable to lower working capital tied up compared with the previous year. In total, the change in working capital during the quarter amounted to SEK -58 million (-143). During the interim period, payments for company acquisitions totalled SEK 377 million (164) and paid contingent considerations related to company acquisitions from previous years amounted to SEK 23 million (51). Net investments in non-current assets amounted to SEK 205 million (180), primarily related to investments in instruments placed with customers. A dividend of SEK 182 million (91) was paid to the Parent Company’s shareholders.