EARNINGS TREND

SEKm 2023:3 2023:2 2023:1 2022:4 2212 2112
Net sales 37,092 37,078 36,352 36,629 131,320 101,466
Gross profit 10,683 10,454 10,359 9,935 32,026 29,144
Adjusted gross profit1 11,670 10,809 10,321 10,237 33,925 29,290
Adjusted operating 5,147 4,617 4,281 4,112 12,047 11,451
profit before
amortization of
acquisition- related
intangible assets
(EBITA)1
Operating profit before 3,497 4,131 4,368 3,818 9,876 11,822
amortization of
acquisition-related
intangible assets
(EBITA)
Amortization of -277 -279 -283 -288 -1,111 -844
acquisition-related
intangible
assets
Adjusted operating 4,870 4,338 3,998 3,824 10,936 10,607
profit1
Items affecting -1,967 -519 87 -305 -2,445 371
comparability
Operating profit 2,903 3,819 4,085 3,519 8,491 10,978
Financial items -644 -588 -625 -561 -1,320 -567
Profit before tax 2,259 3,231 3,460 2,958 7,171 10,411
Adjusted profit before 4,226 3,750 3,373 3,263 9,616 10,040
tax1
Income taxes -696 -786 -809 -736 -2,006 -2,398
Profit for the period 1,563 2,445 2,651 2,222 5,165 8,013
from continuing
operations
Profit for the period 88 106 52 24 899 1,797
from discontinued
operations
Profit for the period, 1,651 2,551 2,703 2,246 6,064 9,810
total operations
Earnings per share 2.20 3.46 3.75 3.14 7.28 10.96
before and after
dilution,
continuing operation,
SEK
Adjusted earnings per 4.83 4.26 3.93 3.75 11.60 11.18
share before and after
dilution, continuing
operation, SEK2
Earnings per share 2.26 3.53 3.79 3.15 7.93 12.27
before and after
dilution,
total operations, SEK
1Excluding items
affecting comparability.
2Excluding items
affecting comparability
and
amortization of
acquisition-related
intangible
assets.

NET SALES BY BUSINESS AREA

SEKm 2023:3 2023:2 2023:1 2022:4 2212 2112
Health & Medical 7,158 6,905 6,665 6,589 24,708 21,255
Consumer Goods 19,729 20,056 20,257 20,454 72,241 55,821
Professional Hygiene 10,184 10,123 9,422 9,617 34,393 24,392
Other 21 -6 8 -31 -22 -2
Total 37,092 37,078 36,352 36,629 131,320 101,466

ORGANIC SALES GROWTH BY BUSINESS AREA

(%) 2023:3 2023:2 2023:1 2022:4 2212 2112
Health & Medical 5.8 8.0 10.6 4.5 7.2 5.5
Consumer Goods -0.4 5.7 14.8 18.4 17.6 0.2
Professional Hygiene 5.7 11.7 22.6 20.7 25.4 5.8
Total 2.4 7.7 15.9 16.0 17.3 2.6

SALES GROWTH, INCLUDING ORGANIC SALES GROWTH AND

ACQUISITIONS BY BUSINESS AREA

(%) 2023:3 2023:2 2023:1 2022:4 2212 2112
Health & Medical 5.8 8.0 10.6 6.4 9.6 6.6
Consumer Goods 1.1 8.7 17.2 21.1 20.0 1.6
Professional Hygiene 5.7 11.7 22.9 21.3 27.7 7.7
Total 3.3 9.3 17.4 18.0 19.7 4.0

ADJUSTED EBITA BY BUSINESS AREA

SEKm 2023:3 2023:2 2023:1 2022:4 2212 2112
Health & Medical 1,188 947 777 719 2,904 3,800
Consumer Goods 2,395 2,417 2,400 2,293 6,354 5,767
Professional Hygiene 1,887 1,582 1,288 1,405 3,843 2,673
Other -323 -329 -184 -305 -1,054 -789
Total 5,147 4,617 4,281 4,112 12,047 11,451

ADJUSTED OPERATING PROFIT BY BUSINESS AREA

SEKm 2023:3 2023:2 2023:1 2022:4 2212 2112
Health & Medical 979 737 560 499 2,058 3,082
Consumer Goods 2,332 2,356 2,338 2,231 6,109 5,650
Professional Hygiene 1,881 1,577 1,282 1,400 3,823 2,663
Other -322 -332 -182 -306 -1,054 -788
Total adjusted operating profit1 4,870 4,338 3,998 3,824 10,936 10,607
Financial items -644 -588 -625 -561 -1,320 -567
Profit before tax1 4,226 3,750 3,373 3,263 9,616 10,040
Income taxes -995 -941 -803 -815 -2,206 -2,474
Net profit for the period2 3,231 2,809 2,570 2,448 7,410 7,566

1Excluding items affecting -1,967 -519 87 -305 -2,445 371
comparability before tax
amounting to:
2Excluding items affecting -1,668 -364 81 -226 -2,245 447
comparability after tax
amounting to:

ADJUSTED EBITA MARGIN BY BUSINESS AREA

(%) 2023:3 2023:2 2023:1 2022:4 2212 2112
Health & Medical 16.6 13.7 11.7 10.9 11.8 17.9
Consumer Goods 12.1 12.1 11.8 11.2 8.8 10.3
Professional Hygiene 18.5 15.6 13.7 14.6 11.2 11.0
Total 13.9 12.5 11.8 11.2 9.2 11.3

ADJUSTED GROSS MARGIN BY BUSINESS AREA

(%) 2023:3 2023:2 2023:1 2022:4 2212 2112
Health & Medical 42.0 39.0 37.8 36.3 37.4 42.7
Consumer Goods 28.3 26.3 26.3 25.7 23.0 25.7
Professional Hygiene 30.2 28.1 26.3 26.8 23.4 24.0
Total 31.5 29.2 28.4 27.9 25.8 28.9

ADJUSTED RETURN ON CAPITAL EMPLOYED BY BUSINESS AREA

(%) 2023:3 2023:2 2023:1 2022:4 2212 2112
Health & Medical 13.3 10.7 9.1 8.3 8.7 12.8
Consumer Goods 17.2 17.6 18.2 16.7 12.8 14.2
Professional Hygiene 28.0 22.7 18.6 19.3 14.0 11.7
Total 17.2 15.8 15.2 13.9 10.9 12.4

OPERATING CASH FLOW BY BUSINESS AREA

SEKm 2023:3 2023:2 2023:1 2022:4 2212 2112
Health & Medical 1,676 323 270 818 2,396 3,834
Consumer Goods 2,235 1,732 1,760 1,043 3,567 5,152
Professional Hygiene 2,370 1,782 951 1,344 3,219 2,311
Other -227 -990 -111 -585 -1,503 -1,552
Total 6,054 2,847 2,870 2,620 7,679 9,745

NET SALES BY CATEGORY

(%) 2212
Health & Medical 19
of which
  Incontinence Products Health Care 11
  Medical Solutions 8
Consumer Goods 55
of which
  Incontinence Products Retail 7
  Feminine Care 8
  Baby Care 5
  Consumer Tissue 35
Professional Hygiene 26

NET SALES PER REGION

(%) 2212
Europe 62
Latin America 16
North America 16
Asia 2
Other 4