Annual Report 2014
An eventful year characterized by several important initiatives
The rate of growth has been satisfactory in a stagnant market. Net sales in comparable currency increased by 7.5%, to SEK 4,249 (3,803) m.
Earnings per share following dilution amounted to SEK 6.80 (5.68). The Board of Directors proposes a dividend of SEK 4.50 (4.00) per share.
CEO’s comments
“During 2014, Duni has taken several important steps to strengthen growth, efficiency and attractiveness. We have made additional acquisitions and, through Goodfoodmood®, we have broadened and made clearer our overarching business.
All in all, I see major opportunities for continuing to build on the strong growth that Duni achieved in 2014.”
4 249
Net sales increased to SEK 4,249 (3,803) m
475
Operating income increased to SEK 475 (385) m
11,2
Operating margin increased to 11.2% (10.1%)
Key ratios, SEK m
| 2014 | 2013 | 2012 | 2011 | 2010 | |
| Net sales | 4 249 | 3 803 | 3 669 | 3 807 | 3 971 |
| Operating income* | 475 | 385 | 342 | 404 | 435 |
| EBITDA* | 596 | 503 | 454 | 510 | 537 |
| Income before tax | 437 | 350 | 204 | 358 | 418 |
| Net income for the year | 319 | 267 | 126 | 261 | 306 |
| Proposed dividend SEK/Share | 4,50 | 4,00 | 3,50 | 3,50 | 3,50 |
| Shareholders’ equity | 2 193 | 2 099 | 1 985 | 2 082 | 1 991 |
| Return on equity | 14,55 % | 12,72 % | 6,35 % | 12,54 % | 15,37 % |
| Number of employees | 2 092 | 1 902 | 1 875 | 1 888 | 1 914 |
*Operating income and EBITDA are adjusted for non-recurring items. Comparison figures for 2012 are translated in accordance with new accounting principles.