INCOME STATEMENT 2016 2015 2014 2013 2012
Sales 436,607 397,825 160,580 62,467 41,000
Operating expenses -459,848 -349,122 -126,027 -73,123 -82,492
Operating profit/loss -23,241 48,703 34,553 -10,656 -41,492
Financial items -6,724 -1,422 517 133 121
Profit/loss before tax -29,965 47,281 35,070 -10,523 -41,371
Income tax 5,581 -6,352 -7,776 0 -1,776
Profit/loss for the period -24,384 40,929 27,294 -10,523 -43,147
           
BALANCE SHEETS 2016 2015 2014 2013 2012
Non-current assets 449,635 462,413 42,798 49,265 39,394
Current assets  159,848 313,144 135,323 95,347 69,723
Total assets  609,483 775,557 178,121 144,612 109,117
Shareholders' equity  386,623 387,352 141,264 113,970 97,452
Non-current liabilities 116,025 147,366 2,221 0 0
Current liabilities 106,835 240,839 34,636 30,642 11,665
Total equity and liabilities  609,483 775,557 178,121 144,612 109,117
           
DATA PER SHARE  2016 2015 2014 2013 2012
Earnings per share 30/12, SEK -0.04 0.07 0.05 -0.02 -0.09
Equity per share, SEK  0.59 0.59 0.26 0.20 0.20
Dividend per share, SEK 0 0 0 0 0
Share price 30/12, SEK 1.41 3.61 0.81 1.06 0.49
P/E ratio  Neg 51.6 16.2 Neg Neg
Number of shares at end of period before full
conversion 1), thousand 
657,155 657,155 541,234 541,234 479,837
Number of shares at end of period after full
conversion 1), thousand
657,155 657,155 541,234 541,234 543,816
Average number of shares during the period
before full conversion 1), thousand
657,155 589,826 541,234 505,680 400,434


1) In order to facilitate comparison over the years, the number of shares at the end of each period has been adjusted to take into consideration the split and bonus issues.

KEY FIGURES & RATIOS 2016 2015 2014 2013 2012
Adjusted equity (SEK) 386,623 387,352 141,264 113,970 97,452
Capital employed 485,797 602,017 141,264 113,970 97,452
Interest-bearing liabilities 99,174 214,665 0 0 0
Return on equity, % Neg 15.5 21.3 Neg Neg
Return on capital employed, % Neg 14.3 24.8 Neg Neg
Adjusted EBITDA 29,446 75,651 35,419 -10,419 -36,917
Operating margin, %  Neg 12.2 21.6 Neg Neg
Net margin, % Neg 10.3 21.5 Neg Neg
Rate of asset turnover, multiple  0.87 1.07 1.10 0.59 0.39
Equity/assets ratio, % 63.4 49.9 79 79 89
Proportion of risk-bearing capital, % 63.4 49.9 79 79 89
Cash flow for the year -39,130 -4,324 31 290 36 767 -5 391
Investments in property, plant and equipment -16,184 10,798 1,674 21 30
Investments in intangible fixed assets -2,428 0 550 0 0
Average number of employees  151 202 40 32 32

 

Definitions of key figures & ratios

Equity and capital

Adjusted equity Reported shareholders' equity plus untaxed reserves after deduction for deferred tax at the current rate of tax.
Capital employed Total assets less non-interest-bearing liabilities including deferred tax liabilities in untaxed reserves.


Profitability

Return on equity Net profit as a percentage of average adjusted equity.
Return on capital employed Profit after net financial items plus financial costs as a percentage of average capital employed.
Operating margin Profit after depreciation as a percentage of the year's invoicing.
Net margin Net profit as a percentage of the year's invoicing.


Sundry

Rate of asset turnover The year's invoicing divided by average capital employed.
Equity/assets ratio Adjusted equity as a percentage of total assets.
Risk-bearing capital Adjusted equity plus deferred tax liabilities in untaxed reserves as a percentage of total assets.
Net dept: Short term dept + long term dept - cash and cash equivalents.

 

APM - Adjusted Performance Measurement 
Adjusted EBITDA (Earnings before interest, taxes, depreciation and amortisation)

On July 31st 2015 a large acquisition was made, generating considerable amounts of amortisation of intangible assets compared to previous years. Due to this, we believe that, in order to assist in understanding the operational business and growth, it is useful to consider EBITDA when comparing with previous years and other companies.

The adjusted EBITDA figures concern the EBITDA adjusted for the effects of the transformation program as a one of cost and the effects of the release of the contingent liability. 

FIVE YEAR SUMMARY PARENT COMPANY 2016 2015 2014 2013 2012
Sales 118,749 190,284 160,580 62,467 41,000
Profit/loss before tax -17,207 38,543 35,070 -10,523 -41,371
Total assets 496,907 569,848 178,121 144,612 109,117
Average number of employees 35 40 40 32 32