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.”

Read more here

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4 249

Net sales increased to SEK 4,249 (3,803) m

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475

Operating income increased to SEK 475 (385) m

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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.

Net sales/Operating income, SEK m
Net sales per business area
Net sales per geographic region