Target fulfillment

In 2017, three of four financial goals were achieved. Net sales grew under good profitability. The financial position was strong and the shareholders got an extra dividend.

Outcome – growth

The target of an organic and acquired growth was not reached in 2017. The organic growth was 2 per cent and no acquisitions were made. The organic growth was positive in the Nordics and negative in the UK and in Central Europe. In 2015 and 2016 the organic and acquired growth was 10 and 8 per cent, respectively.

Sales growth, %20132014201520162017
Organic growth  0  2  6  4  2
Acquisitions -2 -1  4  4  -
Currency growth -3  6  7 -5 -1
Total growth -5  7 17  3  1

 

Outcome – profitability

The operating margin for 2017 was 10.1 per cent. The target of an operating margin above 10 per cent was thus achieved. Profitability in the Nordic region improved, while the UK region and the Central Europe region reported lower margins compared with the previous year. 

Operating margin, %20132014201520162017
Nordic 12.6 12.8 13.3 14.3 14.8
UK   6.0   7.5   9.3   8.9   8.0
Central Europe  -1.7   7.8   3.7   6.8   2.3
Group   5.9   8.5   9.7 10.3 10.1

 

Outcome – financing

The debt/equity ratio was 2 per cent at the end of 2017, meaning that the target of a debt/equity ratio below 100 per cent was reached by a wide margin. The net debt has decreased substantially and Nobia's financial position is still very strong during 2018.

 

 20132014201520162017
Net debt, SEK m 1,176 1,206 774 493  77
Debt/equity ratio, %     37     38   20   14    2

 

Outcome – dividend

The dividend for 2017 consisted partly of an ordinary dividend of SEK 3.50 per share, and partly of an extra dividend of SEK 3.50 per share. The ordinary dividend corresponded to 58 per cent of net profit for the year and is thus in line with the dividend target of 40-60 per cent. The total dividend of SEK 7 per share corresponded to 116 per cent.

 

 20132014201520162017
Dividend per share, SEK 1.00 1.75 2.50 3.00 7.00

Dividend of net

profit after tax, %

48 n/a 51 111 116

 

image description

Related information