Annual Report 2009


The Annual Report 2009 is available as an online version, a pdf and printed copies for order.

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Extract from the CEO statement

A challenging year with very good results

Although the general economic climate in 2009 was the most challenging in the Group’s history, I can proudly report that we succeeded in strengthening our market position and maintained high earnings and margins. Cash flow reached an all-time high and our financial position was robust. This was the result of strong measures at all levels in the Group. Meanwhile investments in product development and market presence continued at a high level. As a result of this we finished the year as an even stronger andmore efficient company. Acquisition activity was resumed in the latter part of the year and a total of eight acquisitions were completed. 

Johan Molin, President and CEO

Key figures and events

  • Sales increased by 0 percent to SEK 34,963*** (34,829***).
  • Operating income (EBIT) amounted to SEK 5,413* M (5,526*).
  • Earnings per share after full dilution amounted to SEK 9.22* (9.21*).
  • Dividend per share, SEK 3,60**.
  • Operating cash flow**** increased substantially to SEK 6,843 M (4,769).
  • The two successful restructuring programs launched in 2006 and 2008 were followed by a new program launched in Q4 2009. This program entails the closure of 11 production units and the conversion of four units to final assembly at a total cost of SEK 930 M. These programs secure continued efficiencies in the Group.
  • Substantial investments were made in product development, which will make a positive contribution to sales.
  • Eight companies were acquired during the year, bringing in annual sales of around SEK 1,175 M.

*Excluding items affecting comparability. **As proposed by the Board of Directors. ***Figures for 2008 and 2009 are affected by reclassification. ****Excluding payments related to restructuring.