Financial Information

Financial reports
Financial calendar
8
Feb
8:30

Year-end report 2018

2019 Feb 08
26
Apr
8:30

Interim report Q1 2019

2019 Apr 26
26
Apr
13:00

AGM 2019

2019 Apr 26
15
Jul
13:00

Interim report Q2 2019

2019 Jul 15
23
Oct
8:30

Interim report Q3 2019

2019 Oct 23
6
Feb
8:30

Year-end report 2019

2020 Feb 06
Financial review
NET SALES AND RESULT, SEK million 2017 2016 2015  2014 2013 2012 2011  2010  2009  2008
Net sales 2,733.5 2,426.2 2,205.6 2,030.7 1,972.9 1,931.2 1,927.7 1,698.4 1,385.3 1,308.3
Operating result before amortization of intangible assets 281.8 211.6 163.9 120.9 114.2 141.3 198.9 176.5 154.2 151.6
Income after financial items 266.7 191.8 116.0 82.5 86.5 107.1 165.4 146.2 131.8 133.9
Profit margin, % 9.8 7.9 5.3 4.1 4.3 5.5 8.9 8.6 9.5 10.2
Operating margin, % 10.3 8.7 7.4 6.0 5.8 7.3 10.7 10.4 11.1 11.6
Sales growth, % 12.7 10.0 8.6 2.9 2.2 3.4 10.0 22.6 5.9 33.2

 

CAPITAL STRUCTURE, SEK million 31 Dec 2017 31 Dec 2016 31 Dec 2015 31 Dec 2014
31 Dec 2013 31 Dec 2012 31 Dec 2011 31 Dec 2010 31 Dec 2009 31 Dec 2008
Intangible assets 921.4 915.7 898.5 952.9 975.2 943.3 952.3 960.9 746.0 724.7
Other fixed assets 51.8 53.6 52.8 42.7 39.1 40.9 41.1 42.0 30.0 32.1
Current assets 816.5 642.3 524.0 555.1 580.7 629.7 579.2 511.9 408.8 398.7
Assets in disposal groups 4.3 - - 15.3 - - - - - -
TOTAL ASSETS 1,794.0 1,611.6 1,475.3 1,566.0 1,595.0 1,613.9 1,572.6 1,514.8 1,184.8 1,173.5
Equity attributable to Parent Company's shareholders 938.7 835.0 738.9 786.7 780.4 849.0 808.8 713.2 558.0 447.2
Non-controlling interests 12.5 9.3 13.3 11.3 6.2 4.4 4.1 3.3 0.0 9.5
Total equity 951,2 844.3 752.2 798.0 786.6 853.4 812.9 716.5 558.0 456.7
Interest-bearing long-term liabilities 55.0 101.1 81.6 93.6 104.4 79.8 125.3 192.7 154.9 205.2
Other long-term liabilities 39.0 34.8 36.2 44.4 53.2 57.3 82.6 75.1 55.5 78.8
Interest-bearing current liabilities 95.2 62.7 138.9 178.7 209.9 167.1 104.3 111.0 61.5 64.7
Other current liabilities 652.4 568.7 466.4 436.4 440.9 456.3 447.5 419.5 354.9 368.1
Liabilities in disposal groups 1.2 - - 14.8 - - - - - -
TOTAL EQUITY AND LIABILITIES 1,794.0 1,611.6 1,475.3 1,566.0 1,595.0 1.613.9 1,572.6 1,514.8 1,184.8 1,173.5
Equity/assets ratio, % 53.0 52.4 51.0 51.0 49.3 52.9 51.7 47.3 47.1 38.9
Investments in goodwill and other fair value adjustments  7.3 - 10.7 5.0 74.5 13.9 18.3 271.5 0.4 350.0
Investments in machinery and equipment 13.4 4.8 12.7 8.2 4.5 8.2 7.9 4.3 2.9

3.3

Cash flow before investments 196.9 193.1 68.5 97.7 106.0 10.0 107.5 140.6 143.7 127.1
Net cash and cash equivalents -45.0 -119.0 -213.8 -180.9 -209.9 -145.7 -103.0 -141.9 -85.4 -154.8
Capital employed 1,102.6 1,008.1 972.7 1,085.2 1,100.9 1,100.3 1,042.5 1,020.2 774.4 726.5
 Acid test ratio, x 1.1 1.0 0.9 0.9 0.9 1.1 1.0 1.0 1.0 0.9
Net debt ratio, x 0.0 0.1 0.3 0.2 0.3 0.2 0.1 0.2 0.2 0.3

 

PROFITABILITY 2017 2016 2015  2014 2013 2012 2011 2010 2009 2008
Return on capital, % 16.2 13.2 9.0 6.3 6.0 7.6 11.4 11.5 12.0 14.9
Return on equity, % 22.5 18.1 11.9 7.5 6.6 9.7 15.6 16.3 18.5 24.5
Return on capital employed, % 26.2 20.5 13.2 9.3 8.8 11.3 17.1 17.2 18.8 24.6
EMPLOYEES 2017 2016 2015  2014 2013 2012 2011 2010 2009 2008
Average number of employees 1,864 1,737 1,769 1,737 1,681 1,646 1,539 1,376 1,123 1,041
Net sales per employee 1.5 1.4 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.3
Value added per employee 1.1 1.0 0.9 0.9 0.8 0.8 0.8 0.9 0.9 0.8
Result after financial items per employee 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Number of employees at year-end 2,065 1,867 1,802 1,788 1,833 1,739 1,670 1,470 1,117 11121
Knowit’s share

Knowit’s share has been listed on the Nordic Exchange in Stockholm since 1997, and was moved from the Small Cap list to the Mid Cap list in January 2018. Knowit’s market value increased by 75.3 percent during the year, on an exchange where the IT index increased by 9.2 percent. The share was traded on all trading days of the year.

Share capital
As of December 30 2017, Knowit’s share capital was SEK 19.1 million, distributed among 19,139,217 shares at a quota value of SEK 1 each. All shares carry the same number of votes and rights to dividends.

Market listing
The share price at the end of the fiscal year was SEK 155.50 (89.75) per share, corresponding to a total market capitalization of SEK 2,976.1 (1,697.5) million. During the year, the share price increased by 73.2 percent, which can be compared to an increase of 6.4 percent for the general index and an increase of 9.2 percent for the IT index. The highest price paid during the year was SEK 161.00 on October 31 2017, while the lowest price was SEK 88.00 on January 23-25 2017. During the fiscal year, 6.8 (10.4) million Knowit shares were traded on the Stockholm Stock Exchange, or an average of 27,190 (41,086) shares per trading session. The number of shares traded corresponds to 35.6 (54.9) percent of the total shares at year-end. The share was traded on all 251 trading days. The total number of shareholders as per December 31 2017 was 6,707 (5,875).

Dividend policy
The Board has adopted a dividend policy aimed at maintaining or increasing dividends each year.
The dividend shall reflect the Board’s view on the expected market development over the next few years.

Dividend
For fiscal 2017 the Board of Directors recommends a dividend of SEK 4.75 (3.75) per share.

Data per share
Development of share capital
Ownership distribution
AGM
Analysts

Daniel Thorsson
Analyst, ABG Sundal Collier
Tel: +46856628682

Erik Elander
Equity & Credit Research, Handelsbanken
Tel: +4687013141

Anton Wester
TMT sectors, Equity Research, Pareto Securities AB
Tel: +4684025266

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