Target fulfillment

In 2019, the target for the net debt / equity ratio was reached. Sales increased and the margin was good, but not in line with the financial target. The financial position remained strong. The Board withdrew the proposed dividend due to the uncertainty regarding the economic effects of the spread of the corona virus.

Outcome – growth

Sales increased by 5 percent. The acquisition of Bribus contributed about 2.5 per cent, while organic sales development remained unchanged. By region, organic growth was -1 percent in the Nordic countries, 1 percent in the UK and -4 percent in Central Europe. Exchange rate effects affected reported sales by approximately 2.5 percent.

Sales growth, %201420152016201720182019
Organic growth  2  6  4  2 -4  0
Acquisitions -1  4  4  -  3   3
Currency growth  6  7  -5 -1  5   3
Total growth  7  17  3  1  4   5

 

Outcome – profitability

The operating margin was 8.1% (8.2) excluding items affecting comparability. The operating margin for the Nordic region increased during the year, while the operating margin for the UK remained unchanged excluding items affecting comparability. The Central Europe region improved its operating margin thanks to a higher margin in Bribus acquired in 2018.

Operating margin, %201420152016201720182019
Nordic 12.8 13.3 14.3 14.8 12.5  13.1
UK   7.5   9.3   8.9   8.0   5.8    5.8
Central Europe   7.8   3.7   6.8   2.3   6.4    7.7
Group   8.5   9.7  10.3 10.1   8.2    8.1

 

Outcome – financing

Nobia's financial position is strong and the debt / equity ratio is within target. The debt / equity ratio* amounted to 31 per cent (32) on December 31, 2019. Net debt* amounted to SEK 1,344m (1,266). Including the effects of IFRS 16, the net debt / equity ratio was 89 per cent (32) and net debt was SEK 3,819m (1,266).

*Excl. IFRS 16 Leasing that was adopted in 2019

 

 201420152016201720182019
Net debt, SEK m 1,206   774  493   77  1,266  3,819
Debt/equity ratio, %     38    20   14    2    32    89
Debt/equity ratio, %
excl. IFRS 16 Leases that was adopted in 2019
    38    20   14   2   32    31

 

Outcome – dividend

Due to uncertainty about the effects of the Coronavirus spread during the beginning of 2020, the Board decided to withdraw the dividend proposal of SEK 4 per share for 2019. 

 201420152016201720182019
Dividend per share, SEK 1.75 2.50 3.00 7.00 4.00     -

Dividend of net

profit after tax, %

 n/a  51  111 116  90    -

 

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