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FINANCIALS

Svensk version

KPIs 2012 2013 2014 2015 2016 2017 LTM1/ 2018 Q1 2018
Net Sales 8.3 31.8 41.0 61.8 104.6 129.3 127.9 31.1 31.1
Sales growth % -28.5% 284.5% 29.0% 51.0% 69.4% 24.0% 12.4% -4.2% -4.2
Gross margin % 18.8% 79.7% 84.4% 84.6% 84.4% 87.0% 85.3% 82.1% 82.1
Operating result -86.0 -48.1 -39.3 -53.9 -88.7 -99.3 -99.5 -33.1 -33.1
Net result -86.5 -47.8 -51.1 -59.6 -110.2 -128.9 -126.1 -33.8 -33.8
                   
Equity at period end 43.2 4.6 -43.5 20.3 34.3 450.8 416.8 416.8 416.8
Net debt at period end -48.4 -2.6 48.4 -6.0 -31.8 -434.7 -397.2 -397.2 -397.2
Cash at period end 48.4 27.7 18.4 68.9 141.5 533.4 397.2 397.2 397.2
                   
Earnings per share -8.69 -5.79 -30.30 -2.53 -4.26 -3.24 -2.83 -0.67 -0.67
                   
1/ LTM refers to Latest Twelve Months (February 2017-March 2018)    
Profit & Loss statement (SEKm) 2012 2013 2014 2015 2016 2017 Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1 2018
Net Sales 8275 31814 40961 61755 104599 129301 32454 37131 32677 27039 31085
Cost of Sales -6717 -6448 -6374 -9507 -16312 -16871 -3621 -4748 -3989 -4513 -5562
Gross profit 1558 25366 34587 52248 88287 112430 28833 32383 28688 22526 25523
Gross margin 18.8% 79.7% 84.4% 84.6% 84.4% 87.0% 88.8% 88.0% 87.7% 83.3% 82.1%
                       
Selling expenses -29308 -28219 -37420 -56161 -79766 -92858 -24771 -22231 -24368 -21488 -27645
R&D expenses -21221 -16286 -17020 -18999 -38233 -60636 -9368 -18686 -12834 -19748 -14838
Administration expenses -35650 -28430 -23508 -31696 -60671 -57478 -21690 -9160 -11149 -15479 -16531
Other operating income 2110 1510 5039 3293 7349 7349 825 1338 1007 2112 2931
Other operating expenses -3529 -1995 -981 -2591 -5711 5711 -1261 -2004 -1457 -1303 -2570
Operating result -86040 -48054 -30303 -53906 -88745 -99285 -27432 -18360 -20113 -33380 -33130
                       
Net financial items 568 340 -11770 -5509 -20820 -28577 -3654 -5181 -2373 -17.369 -497
Result after financial items -85472 -47714 -42073 -59415 -109565 -127862 -31086 -23541 -22486 -50749 -33627
                       
Income tax -1055 -53 8 -140 -625 -1007 -2 -3 -401 -601 -151
                       
Net result -86527 -47767 -51065 -59555 -110190 -128869 -31088 -23544 -22887 -51350 -33778
Balance sheet (SEKm) 31-Dec-12 31-Dec-13 31-Dec-14 31-Dec-15 31-Dec-16 31-Dec-17 31-Mar-18
ASSETS              
Intangible assets 5660 5487 5091 4934 4469 5244 5155
Tangible fixed assets 686 434 382 588 442 3099 3014
Financial fixed assets 336 305 283 370 180 248 218
Total fixed assets 6682 6226 5756 5892 5091 8591 8387
               
Inventories 6138 6544 9295 15032 14489 22079 21988
Trade receivables 3277 6146 9005 17260 20242 20678 26153
Other operating receivables 2540 3470 3179 4568 7486 11969 9010
Cash and cash equivalents 48386 27658 18386 68881 141501 533367 397179
Total current assets 60341 43818 39865 105741 183718 588093 454330
               
TOTAL ASSETS 67023 50044 45621 111633 188809 596684 462717
               
EQUITY AND LIABILITIES              
Equity 43166 4582 -43516 20328 34304 450786 416759
               
Non-current borrowings - 25128 62593 - 84599 - -
Provisions - - - - 164 173 173
               
Current borrowings - - 4203 62887 25103 98620 -
Trade payables 3101 3075 3815 4698 11811 11553 7956
Other operating liabilities 20756 17259 18526 23720 32828 35552 37829
Total current liabilities 23857 20334 26544 91305 69742 145725 45785
               
TOTAL EQUITY AND LIABILITIES 67023 50044 45621 111633 188809 596684 462717
Cash Flow (SEKm) 2012 2013 2014 2015 2016 2017 2018 Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1 2018
Operating loss -86040 -48054 -39303 -53906 -88745 -99285 -33130 -27432 -18360 -20113 -33380 -33130
Non-cash adjustments 22978 9306 424 4878 17593 16707 1077 4578 4052 3553 4524 1077
Interests received 665 315 1 1 4 3         3  
Interests paid -97 -384 -4675 -6303 -11644 -11740 -854 -3171 -3055 -2809 -2705 -854
Other paid financial costs         -9868   558         558
Income tax paid -50 -45 -62 -49 -109 -737 -15 -45 -494 13 -211 -15
Net Operating CF before changes in WC -62544 -38862 -43615 -55379 -92769 -95052 -32364 -26070 -17857 -19356 -31769 -32364
                         
Changes in working capital 10530 -6585 -2308 -9913 10836 -12482 -3914 -6040 3939 -16461 6080 -3914
Net Operating CF -52014 -45447 -45923 -65292 -81933 -107534 -36278 -32110 -13918 -35817 -25689 -36278
                         
Net CF from investing activities -1357 -866 -640 -932 -1374 -4688 -144 -596 -315 -2415 -1362 -144
Net CF from financing activities 68744 25537 34996 116421 155125 504833 -100146 -5029 469459 47860 -7457 -100146
CF for the period 15373 -20776 -11567 50197 71818 391611 -136568 -37735 455226 9628 -34508 -135568
                         
Cash at the beginning of the period 33111 48386 27658 18386 68881 141501 533367 141501 103292 558288 567637 533367
Net foreign exchange difference -98 48 2295 298 802 -745 380 -474 -230 -279 238 380
Cash at the end of the period 48386 27658 18386 68881 141501 532369 397179 103292 558288 567637 533367 398179
Segment information North America          
(SEKm) 2016 Q1-2017 Q2-2017 Q3-2017 Q4 2017 Q1 2018
Net Sales 68868 20502 23473 21600 12552 15932
Operating costs -46348 -11704 -16501 -15044 -16070 -2464
Contribution 22520 8798 6972 6556 -3518 -1964
Other operating items            
Operating result 22520 8798 6972 6556 -3518 -1964
Net financial items            
Result before taxes 22520 8798 6972 6556 -3518 -1964
             
Segment information Europe and Rest of World          
(SEKm) 2016 Q1-2017 Q2-2017 Q3-2017 Q4 2017 Q1 2018
Net Sales 35731 11952 13658 11077 14487 15153
Operating costs -47929 -13937 -16477 -14646 -13715 -3098
Contribution -12198 -1985 -2819 -3569 772 -826
Other operating items            
Operating result -12198 -1985 -2819 -3569 772 -826
Net financial items            
Result before taxes -12198 -2942 -2819 -3569 772 -826
             
Segment information Others          
(SEKm) 2016 Q1-2017 Q2-2017 Q3-2017 Q4 2017 Q1 2018
Net Sales            
Operating costs -40034          
Contribution -40034          
Other operating items -59033 -34245 -22513 -23100 -30634 -30340
Operating result -99067 -34245 -22513 -23100 -30634 30340
Net financial items -20820 -3654 -5181 -2373 -17369 -497
Result before taxes -119987 -37899 -27694 -25473 -48003 -30837
             
TOTAL            
(SEKm) 2016 Q1-2017 Q2-2017 Q3-2017 Q4 2017 Q1 2018
Net Sales 104599 32454 37131 32677 27039 31085
Operating costs -134311 -25641 -32978 -29690 -29785 -5562
Contribution -29721 6813 4153 2987 -2746 -2790
Other operating items -59003   -22513 -23100 -30634 -30340
Operating result -88745 -27432 -18360 -20113 -33380 -33130
Net financial items -20820 -3654 -5181 -2373 -17369 -497
Result before taxes -109665 -32043 -23541 -22486 -50749 -33627
             
The segments are North America (“NA”) and Europe & RoW (“EURW”). Others include Eliminations and others, where the main part relates to Head office functions.
Contribution per segment is calculated as Total revenues minus costs that are directly attributable to the segment. Such costs are directly related Cost of sales, Selling expenses and R&D expenses There is no allocation to segments for Groups assets or liabilities as the control of these is only done at the total Group level by management and the Board.
  2014 2015 2016 2017 LTM1/
Net Sales (SEKm) 41.0 61.8 104.6 129.3 127.9
Sales growth 29% 51% 69% 24% 12%
Gross margin 84.4% 84.6% 84.4% 87.0% 109.1%
Operating result -39.3 -53.9 -88.7 -99.3 -99.5
           
1/ LTM refers to Latest Twelve Months (Febuary 2017-March 2018)

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