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Key ratio definitions

Some financial measures are not defined in IFRS but are so-called alternative key ratios. The purpose is to provide additional information that facilitates a better and more specific comparison of performance from year to year. See the bridges further down. Duni Group defines its key ratios as follows.

Number of employees

The number of active full-time employees at end of period.

Return on equity

Net income as a percentage of shareholders’ equity.

Return on capital employed

Operating EBIT as a percentage of capital employed.

Gross margin

Gross profit as a percentage of net sales.

EBIT

Earnings before interest and taxes.

EBIT margin

EBIT as a percentage of net sales.

EBITA

Earnings before interest, taxes and amortization.

EBITA margin

EBITA as a percentage of sales.

EBITDA

Earnings before interest, taxes, depreciation and amortization (including impairment).

EBITDA margin

EBITDA as a percentage of net sales.

Cost of goods sold

Cost of goods sold, including production and logistics costs.

Operating EBITDA

EBITDA less restructuring costs and fair value allocations.

Operating EBITDA margin

Operating EBITDA as a percentage of net sales.

Operating profits

EBIT adjusted for restructuring costs, fair value allocations and amortization of intangible assets identified in connection with acquisitions.

Operating margin

Operating income as a percentage of net sales.

Organic growth

Sales growth adjusted for currencies and acquisitions. Acquired companies are included in organic growth when they have comparable quarters. For 2018 and previous years, organic growth has been calculated when acquired companies have been a part of the Group for eight quarters.

P/E ratio

Current share price as a percentage of earnings per share.

Interest-bearing net debt

Interest-bearing liabilities and pensions less cash and cash equivalents and interest-bearing receivables.

Net debt/equity ratio

Interest-bearing net debt as a percentage of total equity.

Capital employed

Non-interest bearing fixed and current assets, excluding deferred tax assets, less non-interest bearing liabilities.

Currency adjusted

Figures adjusted for the effects of exchange rate differences related to consolidation. 2021 figures calculated at 2020 exchange rates. Effects of restatement of balance sheet items are not included.

Earnings per share

Net income divided by the average number of shares.

Earnings per share adjusted for goodwill impairment

Net income, excluding goodwill impairment, divided by the average number of shares.

Bridge between operating income and EBIT

SEK m 2021 2020
MSEK 2021 2020
Operating income exkluding the new leases standard Operativt resultat exklusive ny leasingstandard 274 144
Effects of new leases standard as of January 1st, 2019 Effekter av ny leasingstandard från 1 januari 2019 5 5
Operating income Operativt resultat 279 149
Restructuring costs Omstruktureringskostnader -10 -48
Amortization of intangible assets identified in connection with business acquisitions Avskrivningar på immateriella tillgångar identifierade i samband med rörelseförvärv -96 -64
Gains on recalculated pension terms Vinst vid omräknade pensionsvillkor 33
EBIT Redovisat rörelseresultat (EBIT) 173 70

Bridge between Operating EBITDA, EBITDA and EBIT

SEK m 2021 2020
MSEK 2021 2020
Operating EBITDA exkluding the new leases standard Operativt EBIDTA exklusive ny leasingstandard 420 305
Effects of new leases standard as of January 1. 2019 Effekter av ny leasingstandard från 1 januari 2019 67 70
Operating EBITDA Operativt EBITDA 487 374
Restructuring costs Omstruktureringskostnader -10 -48
Gains on recalculated pension terms Vinst vid omräknade pensionsvillkor 33
EBITDA EBITDA 476 359
Amortization of intangible assets identified in connection with business acquisitions Avskrivningar på immateriella tillgångar identifierade i samband med rörelseförvärv -96 -64
Amortization of right-of-use assets Avskrivningar på nyttjanderättstillgångar -62 -65
Amortization/depreciation included in EBIT Avskrivningar som ingår i rörelseresultatet -146 -160
EBIT Redovisat rörelseresultat (EBIT) 173 70

Bridge between reported net sales and organic growth

SEK m 2021 2020
MSEK 2021 2020
Reported net sales Rapporterad nettoomsättning 5,061 4,501
Currency effect1) Valutaeffekt1) 86 65
Currency-adjusted net sales Valutajusterad nettoomsättning 5,148 4,567
Deductions for acquisitions Avdrag för förvärv -59
Net sales for organic growth Nettoomsättning för organisk tillväxt 5,148 4,508
Organic growth Organisk tillväxt 14.4 % -18.7 %
1) Reported net sales for 2021 recalculated at 2020 exchange rates.