| Total revenue |
229.8 |
330.0 |
365.7 |
354.5 |
513.8 |
| Cost of goods sold |
-111.5 |
-159.0 |
-163.4 |
-154.7 |
-200.5 |
| Gross profit |
118.3 |
171.0 |
202.3 |
199.7 |
313.3 |
| Operating expenses |
-65.4 |
-73.2 |
-119.4 |
-132.0 |
-170.7 |
| Depreciation/amortization and impairment losses |
-5.6 |
-7.5 |
-4.4 |
-4.3 |
-10.0 |
| Operating profit |
47.3 |
90.4 |
78.5 |
63.5 |
132.6 |
| Net financial items |
-0.5 |
-0.1 |
-5.1 |
0.7 |
1.5 |
| Profit/loss before tax |
46.9 |
90.3 |
73.5 |
64.2 |
134.1 |
| Income tax |
10.2 |
1.5 |
-11.2 |
-16.0 |
-32.5 |
| Profit/loss for the year |
57.1 |
91.8 |
62.3 |
48.2 |
101.6 |
| |
|
|
|
|
|
| Balance sheets, December 31 (SEK million) |
2015 |
2016 |
2017 |
2018 |
2019 |
| ASSETS |
|
|
|
|
|
| Non-current assets |
|
|
|
|
|
| Intangible assets |
16.9 |
17.5 |
27.7 |
49.7 |
85.6 |
| Tangible assets |
0.6 |
3.3 |
4.5 |
4.4 |
3.1 |
| Rights of use, leases |
|
|
|
|
25.3 |
| Financial assets |
30.1 |
35.7 |
27.4 |
17.3 |
4.1 |
| Total non-current assets |
47.6 |
56.5 |
59.6 |
71.4 |
118.0 |
| |
|
|
|
|
|
| Current assets |
|
|
|
|
|
| Inventories |
19.9 |
25.9 |
36.3 |
101.3 |
95.6 |
| Trade receivables |
35.9 |
39.4 |
121.1 |
104.6 |
111.0 |
| Other current receivables |
8.3 |
5.9 |
12.1 |
16.2 |
10.0 |
| Cash and cash equivalents |
29.4 |
133.2 |
113.2 |
62.2 |
145.1 |
| Total current assets |
93.4 |
204.4 |
282.6 |
284.3 |
361.7 |
| |
|
|
|
|
|
| TOTAL ASSETS |
141.0 |
260.9 |
342.2 |
355.7 |
479.7 |
| |
|
|
|
|
|
| SHAREHOLDERS’ EQUITY AND LIABILITIES |
|
|
|
|
|
| Shareholders’ equity |
105.6 |
209.5 |
259.9 |
292.0 |
366.0 |
| |
|
|
|
|
|
| Non-current liabilities |
|
|
|
|
|
| Lease liabilities |
- |
- |
- |
- |
22.0 |
| Deferred tax liabilities |
- |
- |
- |
- |
6.5 |
| Total non-current liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
28.5 |
| |
|
|
|
|
|
| Current liabilities |
|
|
|
|
|
| Accounts payable - trade |
15.8 |
26.0 |
49.7 |
39.6 |
29.8 |
| Lease liabilities |
- |
- |
- |
- |
3.9 |
| Other current liabilities |
19.6 |
25.4 |
32.7 |
24.1 |
51.5 |
| Total current liabilities |
35.4 |
51.4 |
82.3 |
63.7 |
85.2 |
| |
|
|
|
|
|
| TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES |
141.0 |
260.9 |
342.2 |
355.7 |
479.7 |
| |
|
|
|
|
|
| Cash flow statement, January-December (SEK million) |
2015 |
2016 |
2017 |
2018 |
2019 |
| Profit/loss before tax |
46.9 |
90.3 |
73.5 |
64.2 |
134.1 |
| Adjustments for non-cash items |
4.6 |
13.2 |
7.3 |
2.0 |
8.7 |
| Income tax paid |
-2.7 |
-5.1 |
-2.7 |
-4.8 |
-2.8 |
| Cash flow from operating activities before changes in working capital |
48.8 |
98.4 |
78.1 |
61.4 |
140.0 |
| Cash flow from changes in working capital |
-18.9 |
7.5 |
-67.2 |
-64.3 |
18.4 |
| Cash flow from operating activities |
29.9 |
105.8 |
10.9 |
-3.0 |
158.4 |
| |
|
|
|
|
|
| Cash flow from investing activities |
-4.7 |
-10.5 |
-15.0 |
-25.1 |
-40.8 |
| |
|
|
|
|
|
| Cash flow from financing activities |
-23.1 |
6.2 |
-18.3 |
-26.5 |
-34.2 |
| |
|
|
|
|
|
| CASH FLOW FOR THE YEAR |
2.1 |
101.5 |
-22.4 |
-54.6 |
83.4 |
| |
|
|
|
|
|
| Key figures |
2015 |
2016 |
2017 |
2018 |
2019 |
| Margins |
|
|
|
|
|
| Gross margin, % |
51.5 |
51.8 |
55.3 |
56.4 |
61.0 |
| Operating margin, % |
20.6 |
27.4 |
21.5 |
17.9 |
25.8 |
| Profit margin, % |
24.8 |
27.8 |
17.0 |
13.6 |
19.8 |
| Equity ratio, % |
74.9 |
80.3 |
75.9 |
82.1 |
76.3 |
| |
|
|
|
|
|
| Other |
|
|
|
|
|
| Number of employees at close of year |
40 |
52 |
73 |
82 |
101 |
| |
|
|
|
|
|
| The Invisio share |
|
|
|
|
|
| Number of shares at close of period, thousands |
42.240 |
43.449 |
44.098 |
44.098 |
44.098 |
| Earnings per share, SEK |
1.35 |
2.14 |
1.42 |
1.09 |
2.30 |
| Earnings per share after dilution, SEK |
1.30 |
2.08 |
1.41 |
1.09 |
2.30 |
| Equity per share, SEK |
2.50 |
4.82 |
5.89 |
6.62 |
8.30 |
| Shareholders' equity per share after dilution, SEK |
2.39 |
4.75 |
5.89 |
6.62 |
8.28 |
| Share price at close of period, SEK |
75.75 |
63.75 |
79.25 |
56.90 |
101.80 |
