This is Duni
CEO’s comments
“In a challenging world around us, we have received confirmation that Duni is on the right track, with both a strong organization and offering.”
THE YEAR IN BRIEF
A new strategy and
key acquisitions
BioPak Pty Ltd. in Australia was acquired and consolidated into New Markets. The company’s environmentally sound disposable packaging will be crucial for Duni’s continuing expansion in Asia and Oceania.
Marielle Noble was appointed Customer Experience Director as a part of the new strategy’s increased customer focus.
Magnus Carlson succeeded Thomas Lööb as Corporate Development Director.
The acquisition of Biopac UK Ltd. in the UK strengthens Meal Service and Duni’s sustainable disposable packaging offering in Europe.
Three major initiatives to improve margins were launched to improve income and meet the challenge posed by high pulp prices.
The investment in increased production capacity for the crucial airlaid material has been completed. This material is used for product groups including Dunilin® and Dunisoft®.
A new strategy was launched as a platform for growth, aiming to make Duni even more customer-focused and sustainable.
Duni is expanding its already broad spectrum of plastic-free and sustainable alternatives under its ecoecho® brand.
In order to strengthen Duni’s diversity efforts, the company initiated a collaboration with Mitt Liv, a social enterprise that strives to achieve an inclusive society.
Operating margin
8.7%
The operating margin was 8.7 (11.1) percent
Net sales
SEK 4,927 m
Net sales increased to SEK 4,927 m (4,441)
Operating income
SEK 430 m
Operating income was SEK 430 m (491)
Distribution
SEK 5.00
The Board of Directors proposes a dividend of SEK 5.00 (5.00) per share
KEY RATIOS, SEK M 1), 2)
| 2018 | 2017 | 2016 | 2015 | 2014 | |
| Net sales | 4,927 | 4,441 | 4,271 | 4,200 | 3,870 |
| Operating income*, SEK m | 430 | 491 | 502 | 528 | 452 |
| Operating EBITDA* | 583 | 630 | 632 | 656 | 572 |
| EBIT | 351 | 456 | 463 | 493 | 433 |
| EBITDA | 546 | 629 | 622 | 622 | 556 |
| Net income before tax | 328 | 439 | 441 | 459 | 414 |
| Net income for the year | 249 | 334 | 334 | 346 | 302 |
| Proposed dividend, SEK/Share | 5.00 | 5.00 | 5.00 | 5.00 | 4.50 |
| Equity | 2,616 | 2,594 | 2,486 | 2,345 | 2,193 |
| Return on equity, % | 9.5 | 12.9 | 13.4 | 14.8 | 13.8 |
| Return on capital employed, % | 10.6 | 14.4 | 15.8 | 18.6 | 15.4 |
| Number of employees | 2,477 | 2,362 | 2,279 | 2,082 | 2,092 |
* Operating income and operating EBITDA are alternative key ratios that Duni uses to guide its operations. It relates to EBIT less amortization of intangible assets identified at acquisition, restructuring costs and fair value allocations.
1) Relates to continuing operations for 2015 and back in time. The discontinued hygiene products business has been recalculated and, in accordance with IFRS, is reported on a line after the net income for the period for continuing operations.
2) Key ratios for 2016 and onwards include non-controlling interests.