Key figures

Multi-year overview (Key figures for the Group as a whole)

2018 2019 2020 2021 2022 2023 2024
Net sales, MSEK 1 000.9* 1 064.0* 818.3 827.6 937.4 958.5 870.9
Gross profit, MSEK 354.8* 372.0* 256.4 290.5 318.8 327.9 281.4
Gross margin, % 35.4* 35.0* 31.3 35.1 34.0 34.2 32.3
Operating profit/loss, MSEK 44.8 75.6 -7.7 39.4 41.4 20.9 -88.5
Operating margin, % 4.5* 7.1* -0.9 4.8 4.4 2.2 -10.2
Profit/loss after financial items, MSEK 35.4 71.6 -15.7 36.8 35.2 7.3 -99.8
Net margin, % 3.5* 6.7* -1.9 4.4 3.8 0.8 -11.5
Total capital, MSEK 829.1 935.4 798.2 839.5 922.8 899.8 793.0
Capital employed, MSEK 604.8 702.0 582.5 630.1 690.3 702.2 609.0
Operating capital, MSEK 582.0 677.1 565.4 595.7 638.9 651.9 560.2
Equity, MSEK 456.0 498.3 472.9 509.3 539.8 519.6 420.2
Return on total capital, % 5.8 9.5 -0.3 5.4 5.5 3.5 -11.5
Return on capital employed, % 7.9 12.8 -0.4 7.3 7.4 4.6 -11.3
Return on operating capital, % 7.5 12.0 -1.2 6.8 6.7 3.2 -14.6
Return on equity, % 5.1 11.4 -2.3 5.7 5.0 0.5 -19.1
Debt/equity ratio, ratio 0.32 0.38 0.23 0.24 0.28 0.35 0.45
Share of risk-bearing capital, % 57.7 55.7 61.7 63.0 60.7 59.5 54.2
Interest coverage ratio, ratio 3.7 6.9 -0.2 5.97 3.59 1.30 -2.9
Equity/assets ratio, % 55.1 53.3 59.2 60.7 58.5 57.7 53.0
Cash flow from operating activities, MSEK 90.4 68.3 118.9 36.6 31.5 30.1 42.9
Investments in tangible fixed assets, MSEK 22.8 16.7 6.9 9.8 11.9 23.2 17.1
Average number of employees, people 414 391 352 321 312 300 281

* Sales commission to agents and royalties to designers were previously reported as a reduction in net sales. To provide a more accurate picture, commission on sales is now classified under cost of goods sold and royalties to designers are classified under cost of sales. In accordance with IAS 1, comparative information has been recalculated.

Reconciliation of non-IFRS key figures

2018 2019 2020 2021 2022 2023 2024 Jan-Mar 2025
Gross margin
Gross profit, MSEK 354.8* 372.0* 256.4 290.5 318.8 327.9 281.4 75.0
Net sales, MSEK 1000.9* 1064.0* 818.3 827.6 937.4 958.5 870.9 210.1
Gross margin, % 35.4* 35.0* 31.3 35.1 34.0 34.2 32.3 35.7
Operating margin
Operating profit/loss, MSEK 44.8 75.6 -7.7 39.4 41.4 20.9 -88.5 -0.2
Net sales, MSEK 1000.9* 1064.0* 818.3 827.6 937.4 958.5 870.9 210.1
Operating margin, % 4.5* 7.1* -0.9 4.8 4.4 2.2 -10.2 -0.1
Net margin
Profit/loss after financial items, MSEK 35.4 71.6 -15.7 36.8 35.2 7.3 -99.8 0.2
Net sales, MSEK 1000.9* 1064.0* 818.3 827.6 937.4 958.5 870.9 210.1
Net margin, % 3.5* 6.7* -1.9 4.4 3.8 0.8 -11.5 0.1
Return on total capital
Profit/loss after financial items, MSEK 35.4 71.6 -15.7 36.8 35.3 7.3 -99.8 -
Financial expenses, MSEK -13.3 -12.0 -13.1 -7.4 -13.6 -24.6 -25.9 -
Average total capital, MSEK 845 878 867 819 881 911.3 846.4 -
Return on total capital, % 5.8 9.5 -0.3 5.4 5.5 3.5 -11.5 -
Return on capital employed
Profit/loss after financial items (restated full year), MSEK 35.4 71.6 -15.7 36.8 35.2 7.3 -99.8 0.9
Financial expenses (restated full year), MSEK -13.3 -12.0 -13.1 -7.4 -13.6 -24.6 -25.9 -15.0
Average capital employed, MSEK 620 655 642 606 660 696.3 655.6 645.6
Return on capital employed, % 7.9 12.8 -0.4 7.3 7.4 4.6 -11.3 2.5
Return on operating capital
Operating profit/loss, MSEK 44.8 75.6 -7.7 39.4 41.4 20.9 -88.5 -
Average operating capital, MSEK 600 630 621 581 617 645 617.0 -
Return on operating capital, % 7.5 12.0 -1.2 6.8 6.7 3.2 -14.6 -
Return on equity
Profit/loss for the year (restated full year), MSEK 22.7 55 -11.1 27.6 26.1 2.8 -89.7 0.2
Average equity, MSEK 445 483 486 491 525 530 493.2 461.3
Return on equity, % 5.1 11.4 -2.3 5.7 5.0 0.5 -19.1 0.0
Debt/equity ratio
Interest-bearing liabilities, MSEK 150 189 110 120.7 150.7 182.6 188.7 174.5
Equity, MSEK 456 498 473 509.3 539.9 519.6 420.2 402.3
Debt/equity ratio, ggr 0.32 0.38 0.23 0.24 0.28 0.35 0.45 0.43
Share of risk-bearing capital
Equity, MSEK 456 498 473 509.3 539.8 519.6 420.2 -
Deferred tax, MSEK 21.5 22.3 19.4 19.6 19.9 15.9 9.5 -
Balance sheet total, MSEK 829 935 798 839.5 922.8 899.8 793.0 -
Share of risk-bearing capital, % 57.7 55.7 61.7 63.0 60.7 59.5 54.2 -
Interest coverage ratio
Profit/loss after financial items, MSEK 35.4 71.6 -15.7 36.8 35.3 7.3 -99.8 -
Financial expenses, MSEK -13.3 -12.0 -13.1 -7.4 -13.6 -24.6 -95.9 -
Interest coverage ratio, Ratio 3.7 6.9 -0.20 5.97 3.59 1.30 -2.85 -
Items affecting comparability
Library Interiors, MSEK - - -0.4 0 - - -0.9 0.0
Office Interiors, MSEK - - -28.8 -0.9 - -3.8 -89.3 -1.1
Group-wide functions, MSEK - - -2 0 - -5.2 -2.4 0.0
Adjusted operating profit, MSEK - - 23.5 40.3 - 29.9 4.1 0.9
Adjusted operating margin
Adjusted operating profit, MSEK - - 23.5 40.3 - 29.9 4.1 0.9
Net sales, MSEK - - 818.3 827.6 - 958.5 870.9 210.1
Adjusted operating margin, % - - 2.9 4.9 - 3.1 0.5 0.4
Net debt
Liquid Assets, MSEK - - - 34.4 51.6 50.3 48.7 34.7
Interest-bearing Liabilities, MSEK - - - 61.2 94.5 135.5 144.8 135.1
Interest-bearing Liabilities, IFRS 16, MSEK - - - 59.6 56.2 47.1 43.9 39.4
Net Debt, MSEK - - - 86.4 99.1 132.3 140.0 139.8