Financial facts.

Financial objectives

Revenue growth including acquisitions of at least 10 per cent per year.
EBITA margin of at least 10 per cent.

In addition, the Board adopted a dividend policy and guideline for financial position:

Approximately half of profit after tax over time is to be distributed to shareholders.
Based on the premise of a strong balance sheet and financial flexibility, the net debt/EBITDA ratio should not exceed approximately 1.5x.

Key figures five-year summary

Key figures	2016	2017	2018	2019	2020
Sales (mSEK)	1,755.9	1,762.4	1,842.2	1,858.2	1,627.0
Organic growth (%)	4.8	0.4	2.2	0.5	-12.7
Operating margin (%)	5.3	5.4	6.5	7.6	8.0
Return on shareholders’ equity (%)	12.0	13.4	16.9	18.1	15.2
Return on capital employed (%)	21.9	14.1	21.4	19.4	15.9
Equity/asset ratio (%)	44.5	61.2	60.6	55.2	59.9
Debt/equity ratio (mutliple)	0.2	–	–	–	–
Number of employees at end of year	2,044	2,076	2,119	2,262	1,821

2016 figures refer to continuing operations after the divestment of Business Area Engineering Services Germany.

Definitions

Capital employed	The balance sheet total minus non interest-bearing provisions and liabilities.
Cash flow per share	Cash flow from current activities divided by the weighted average number of outstanding shares over the year adjusted for the dilution effect on potential shares.
EPS before dilution	Profit/loss after tax attributable to the parent company’s owners divided by the average number of outstanding ordinary shares excluding shares held as own shares by the parent company.
EPS after dilution	Profit/loss after tax attributable to the parent company’s owners divided by the average number of outstanding shares adjusted for the dilution effect of potential shares.
EBITA margin	Operating profit before amortisation as a percentage of revenue.
EBITDA margin	Operating profit before depreciation and amortisation as a percentage of revenue.
Equity/assets ratio	Shareholders’ equity as a percentage of the balance sheet total.
Net cash/ net debt	Cash and cash equivalents and interest-bearing receivables with deductions for interest-bearing provisions and liabilities, excluding lease liabilities.
Organic growth	Year-on-year increase in income adjusted for currency effects, acquisitions and divestments.
Operating margin (EBIT)	Operating profit as a percentage of operating income.
Operating margin before depreciation	Operating profit before depreciation as a percentage of operating income.
Profit margin	Profit before tax as a percentage of operating income.
Return on shareholders’ equity	Profit for the period after tax divided by the average shareholders’ equity.
Return on capital employed	Profit before tax plus financial costs divided by the average capital employed.
Shareholders equity per share after dilution	Shareholders’ equity divided by the number of shares at end of the year adjusted for the dilution effect on potential shares.
Shareholders equity per share before dilution	Shareholders’ equity divided by the number of shares at end of the year excluding shares held as own shares by the parent company.

Analysts

Following financial institutions regularly monitor Semcon:

Research house	Analyst
Danske Bank	Fredrik Lithell	fredrik.lithell@danskebank.se
ABG Sundal Collier Introduce	Stefan Knutsson	stefan.knutsson@abgsc.se

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Kristina Ekeblad
Investor Relations Manager
+46 (0)704 130 926
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Björn Strömberg
CFO
+46 (0)31 721 03 05
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Financial facts.

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Key figures five-year summary

Definitions

Analysts

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