Balance Sheet MilDef Group AB

Equities

MILDEF

SE0016074249

Aerospace & Defense

Market Closed - Nasdaq Stockholm Other stock markets 20:00:00 23/01/2026 +03			5-day change	1st Jan Change
136.50 ^SEK	+1.87%		-8.88%	+13.94%

01-22	DNB Carnegie Lowers Target Price for Mildef	FW
01-20	Millennium International Management Becomes New Public Short Seller in Mildef	FW

6464abf7eac508392ed2bb8afac4fe5f._yHf2ZevVnAXxMjLaebFa65T5gV1ET0nKBeuTeeZW7s.tEKb7uSWBhQjvrq8ANOVOOo8tTctU1BmSVb8eIz8F8-IQJ6O0NwBG22WjQ

Published financial data: MILDEF GROUP AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	398M	470M	739M	1.15B	1.2B
Total Revenues	398M	470M	739M	1.15B	1.2B
Cost of Goods Sold, Total	216M	260M	386M	595M	612M
Gross Profit	182M	210M	352M	556M	589M
Selling General & Admin Expenses, Total	92.36M	173M	274M	369M	385M
R&D Expenses	33.09M	40.4M	49M	80.7M	84M
Other Operating Expenses	-157K	100K	-	1M	-
Other Operating Expenses, Total	125M	214M	322M	450M	469M
Operating Income	56.76M	-3.4M	29.8M	106M	120M
Interest Expense, Total	-1.65M	-4.8M	-7.8M	-28.2M	-24.5M
Interest And Investment Income	127K	100K	800K	7.9M	8.5M
Net Interest Expenses	-1.53M	-4.7M	-7M	-20.3M	-16M
Currency Exchange Gains (Loss)	124K	600K	-800K	3.8M	-5.9M
Other Non Operating Income (Expenses)	-	2.6M	-2.8M	-800K	-200K
EBT, Excl. Unusual Items	55.36M	-4.9M	19.2M	88.6M	98.3M
Restructuring Charges	-	-	-	-	-310M
Merger & Related Restructuring Charges	-	-400K	-	-	-10.8M
EBT, Incl. Unusual Items	55.36M	-5.3M	19.2M	88.6M	-222M
Income Tax Expense	12.83M	-4.6M	5M	19.6M	-2.2M
Earnings From Continuing Operations	42.53M	-700K	14.2M	69M	-220M
Net Income to Company	42.53M	-700K	14.2M	69M	-220M
Net Income - (IS)	42.53M	-700K	14.2M	69M	-220M
Net Income to Common Incl Extra Items	42.53M	-700K	14.2M	69M	-220M
Net Income to Common Excl. Extra Items	42.53M	-700K	14.2M	69M	-220M
Per Share Items
Net EPS - Basic	1.83	-0.03	0.38	1.73	-5.43
Basic EPS - Continuing Operations	1.83	-0.03	0.38	1.73	-5.43
Basic Weighted Average Shares Outstanding	23.24M	26.24M	37.4M	39.86M	40.6M
Net EPS - Diluted	1.83	-0.03	0.37	1.71	-5.43
Diluted EPS - Continuing Operations	1.83	-0.03	0.37	1.71	-5.43
Diluted Weighted Average Shares Outstanding	23.24M	26.24M	37.84M	40.3M	40.6M
Normalized Basic EPS	1.49	-0.12	0.32	1.39	1.51
Normalized Diluted EPS	1.49	-0.12	0.32	1.37	1.51
Dividend Per Share	0.75	0.75	-	0.5	0.5
Payout Ratio	20.49	-2.49K	192.25	-	-9.03
Supplemental Items
EBITDA	61.9M	6.4M	42.2M	123M	183M
EBITA	61.08M	3.5M	38.2M	118M	177M
EBIT	56.76M	-3.4M	29.8M	106M	120M
EBITDAR	63.25M	8.7M	45.3M	124M	183M
Effective Tax Rate - (Ratio)	23.17	86.79	26.04	22.12	0.99
Total Current Taxes	10.48M	2.2M	9M	15.6M	12.7M
Total Deferred Taxes	2.35M	-6.8M	-3.4M	2.9M	-15.1M
Normalized Net Income	34.6M	-3.06M	12M	55.38M	61.44M
Interest on Long-Term Debt	383K	1.6M	1.9M	3.8M	3.6M
Supplemental Operating Expense Items
Selling and Marketing Expenses	56.4M	114M	206M	283M	279M
General and Administrative Expenses	35.96M	58.6M	67.2M	85.9M	106M
Research And Development Expense From Footnotes	33.73M	41.1M	52M	94.1M	142M
Net Rental Expense, Total	1.35M	2.3M	3.1M	400K	300K
Imputed Operating Lease Interest Expense	257K	1.05M	928K	265K	200K
Imputed Operating Lease Depreciation	1.09M	1.25M	2.17M	135K	99.93K

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	46.84M	169M	59.9M	81.5M	530M
Total Cash And Short Term Investments	46.84M	169M	59.9M	81.5M	530M
Accounts Receivable, Total	165M	146M	274M	327M	352M
Other Receivables	6.53M	26.3M	41.9M	37.4M	52.4M
Total Receivables	172M	172M	316M	364M	404M
Inventory	57.32M	85.8M	236M	290M	234M
Prepaid Expenses	2.71M	4.2M	8.3M	9.9M	12.9M
Other Current Assets, Total	-	100K	1M	3M	600K
Total Current Assets	279M	432M	622M	749M	1.18B
Gross Property Plant And Equipment	83.18M	96M	138M	180M	182M
Accumulated Depreciation	-10.17M	-21.7M	-35.3M	-58.4M	-92M
Net Property Plant And Equipment	73.01M	74.3M	102M	122M	90.4M
Goodwill	-	201M	467M	462M	-
Other Intangibles, Total	2.66M	84.5M	132M	115M	379M
Deferred Tax Assets Long-Term	4.98M	5.6M	14.3M	9.5M	19.2M
Deferred Charges Long-Term	8.11M	10.7M	56.2M	68.5M	12.7M
Other Long-Term Assets, Total	352K	200K	300K	300K	300K
Total Assets	368M	808M	1.39B	1.53B	1.68B
Liabilities
Accounts Payable, Total	62.83M	39.5M	105M	114M	85.6M
Accrued Expenses, Total	24.38M	23.9M	38.5M	47.3M	37.7M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	-	9.7M	53.1M	131M	31.4M
Current Portion of Leases	7.9M	8.6M	16.2M	27.1M	25.8M
Current Income Taxes Payable	3.71M	5.4M	11.2M	9.2M	28.8M
Unearned Revenue Current, Total	2.28M	1.6M	38.9M	57.4M	103M
Other Current Liabilities	66.03M	44M	62.5M	53.3M	81.4M
Total Current Liabilities	167M	133M	326M	440M	394M
Long-Term Debt	-	31.7M	175M	132M	102M
Long-Term Leases	58.79M	52.1M	70.6M	76.4M	60.7M
Deferred Tax Liability Non Current	9.41M	23.5M	35.1M	32.6M	24.8M
Other Non Current Liabilities	-	-	-	-100K	100K
Total Liabilities	235M	240M	606M	681M	582M
Common Stock, Total	5.81M	9.1M	10M	10M	11.4M
Additional Paid In Capital	58.07M	507M	729M	729M	1.22B
Retained Earnings	70.78M	52.7M	39.6M	109M	-132M
Comprehensive Income and Other	-2.06M	-600K	9M	-3.3M	-800K
Total Common Equity	133M	568M	788M	845M	1.1B
Total Equity	133M	568M	788M	845M	1.1B
Total Liabilities And Equity	368M	808M	1.39B	1.53B	1.68B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	23.24M	36.39M	39.86M	39.86M	45.57M
ECS Total Common Shares Outstanding	23.24M	36.39M	39.86M	39.86M	45.57M
Book Value / Share	5.71	15.61	19.77	21.19	24.17
Tangible Book Value	130M	282M	189M	268M	723M
Tangible Book Value Per Share	5.59	7.76	4.74	6.72	15.86
Total Debt	66.7M	102M	315M	367M	220M
Net Debt	19.86M	-67.1M	255M	286M	-310M
Debt Equivalent Oper. Leases	10.8M	18.4M	24.8M	3.2M	2.4M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Work In Process, Total	230K	700K	4.5M	2.5M	12.5M
Inventories - Finished Goods, Total	53.75M	95.3M	248M	300M	243M
Inventories - Others	3.34M	5M	200K	8.6M	3.2M
Machinery, Total	8.75M	15.9M	20.5M	28.8M	29.4M
Full Time Employees	119	188	291	309	327
Order Backlog	446M	732M	1.16B	-	2.06B

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	42.53M	-700K	14.2M	69M	-220M
Depreciation & Amortization - CF	5.68M	12.5M	15.1M	27.7M	41.5M
Amortization of Goodwill and Intangible Assets - (CF)	4.31M	6.9M	8.4M	12.6M	56.3M
Depreciation & Amortization, Total	9.99M	19.4M	23.5M	40.3M	97.8M
Amortization of Deferred Charges, Total - (CF)	1.6M	4.2M	7.3M	19.6M	64.2M
(Gain) Loss From Sale Of Asset	5K	-	-	2.3M	-5.9M
Asset Writedown & Restructuring Costs	-	-	-	-	141M
Other Operating Activities, Total	-2.05M	-13.4M	1.6M	13.4M	58.7M
Change In Accounts Receivable	-35.3M	6.1M	-59.2M	-62.1M	-10.1M
Change In Inventories	-11.3M	-28.6M	-98.2M	-55.8M	-100K
Change In Accounts Payable	56.19M	-	-	-	-
Change in Other Net Operating Assets	-	-42.5M	34M	27.8M	18.7M
Cash from Operations	61.68M	-55.5M	-76.8M	54.5M	144M
Capital Expenditure	-5.39M	-10.8M	-4.8M	-13.9M	-10.7M
Cash Acquisitions	-	-171M	-303M	-23.1M	-12.8M
Sale (Purchase) of Intangible assets	-3.54M	-5.6M	-13.2M	-31.9M	-9.8M
Other Investing Activities, Total	323K	400K	-200K	-	-
Cash from Investing	-8.61M	-187M	-321M	-68.9M	-33.3M
Short Term Debt Issued, Total	-	30M	-	-	-
Long-Term Debt Issued, Total	-	-	200M	89.9M	-
Total Debt Issued	-	30M	200M	89.9M	-
Short Term Debt Repaid, Total	-746K	-30M	-	-	-
Long-Term Debt Repaid, Total	-4.89M	-9M	-30.2M	-51.4M	-140M
Total Debt Repaid	-5.64M	-39M	-30.2M	-51.4M	-140M
Issuance of Common Stock	-	389M	143M	-	495M
Common Dividends Paid	-8.71M	-17.4M	-27.3M	-	-19.9M
Common & Preferred Stock Dividends Paid	-8.71M	-17.4M	-27.3M	-	-19.9M
Cash from Financing	-14.35M	363M	286M	38.5M	335M
Foreign Exchange Rate Adjustments	-958K	2.1M	3.1M	-2.6M	2.7M
Miscellaneous Cash Flow Adjustments	-	100K	-	100K	-
Net Change in Cash	37.75M	122M	-109M	21.6M	449M
Supplemental Items
Cash Interest Paid	1.65M	5.2M	7.2M	35.6M	37.2M
Cash Income Tax Paid (Refund)	18.89M	8.2M	7.6M	12.6M	22.1M
Levered Free Cash Flow	42.54M	-73.42M	-131M	-17.74M	272M
Unlevered Free Cash Flow	43.57M	-70.42M	-126M	-112K	288M
Change In Net Working Capital	-5.44M	75.5M	158M	80.4M	-70.9M
Net Debt Issued / Repaid	-5.64M	-9M	170M	38.5M	-140M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	10.86	-0.36	1.69	4.53	4.69
Return on Total Capital	19.03	-0.49	2.1	5.72	5.94
Return On Equity %	36.36	-0.2	2.09	8.45	-22.64
Return on Common Equity	36.36	-0.2	2.09	8.45	-22.64
Margin Analysis
Gross Profit Margin %	45.69	44.74	47.69	48.32	49.05
SG&A Margin	23.18	36.84	37.02	32.02	32.03
EBITDA Margin %	15.53	1.36	5.71	10.72	15.21
EBITA Margin %	15.33	0.75	5.17	10.29	14.71
EBIT Margin %	14.25	-0.72	4.03	9.2	10.03
Income From Continuing Operations Margin %	10.67	-0.15	1.92	5.99	-18.34
Net Income Margin %	10.67	-0.15	1.92	5.99	-18.34
Net Avail. For Common Margin %	10.67	-0.15	1.92	5.99	-18.34
Normalized Net Income Margin	8.68	-0.65	1.62	4.81	5.12
Levered Free Cash Flow Margin	10.68	-15.64	-17.72	-1.54	22.68
Unlevered Free Cash Flow Margin	10.93	-15	-17.06	-0.01	23.95
Asset Turnover
Asset Turnover	1.22	0.8	0.67	0.79	0.75
Fixed Assets Turnover	5.45	6.37	8.37	10.27	11.31
Receivables Turnover (Average Receivables)	2.73	3.02	3.52	3.83	3.54
Inventory Turnover (Average Inventory)	4.16	3.63	2.4	2.26	2.33
Short Term Liquidity
Current Ratio	1.67	3.25	1.91	1.7	3
Quick Ratio	1.31	2.57	1.15	1.01	2.37
Operating Cash Flow to Current Liabilities	0.37	-0.42	-0.24	0.12	0.37
Days Sales Outstanding (Average Receivables)	134.01	121.06	103.8	95.24	103.35
Days Outstanding Inventory (Average Inventory)	88	100.57	152.19	161.55	156.92
Average Days Payable Outstanding	85.8	64.8	49.12	61.64	65.7
Cash Conversion Cycle (Average Days)	136.21	156.82	206.86	195.15	194.57
Long Term Solvency
Total Debt/Equity	50.3	17.97	39.94	43.5	20.01
Total Debt / Total Capital	33.47	15.23	28.54	30.31	16.67
LT Debt/Equity	44.34	14.75	31.15	24.73	14.81
Long-Term Debt / Total Capital	29.5	12.5	22.26	17.24	12.34
Total Liabilities / Total Assets	63.96	29.7	43.48	44.64	34.57
EBIT / Interest Expense	34.32	-0.71	3.82	3.76	4.91
EBITDA / Interest Expense	40.36	3.33	6.83	5.18	8.91
(EBITDA - Capex) / Interest Expense	37.1	1.08	6.22	4.69	8.47
Total Debt / EBITDA	1	6.38	5.9	2.51	1.01
Net Debt / EBITDA	0.3	-4.19	4.78	1.96	-1.42
Total Debt / (EBITDA - Capex)	1.09	19.63	6.49	2.78	1.06
Net Debt / (EBITDA - Capex)	0.32	-12.9	5.25	2.16	-1.49
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	19.3	17.84	57.33	55.83	4.31
Gross Profit, 1 Yr. Growth %	45.86	15.38	67.68	57.91	5.9
EBITDA, 1 Yr. Growth %	102.52	-89.66	549.23	192.42	47.97
EBITA, 1 Yr. Growth %	105.5	-94.27	961.11	210.21	49.11
EBIT, 1 Yr. Growth %	128.27	-105.99	-976.47	255.37	13.69
Earnings From Cont. Operations, 1 Yr. Growth %	123.81	-101.65	-2.13K	385.92	-419.28
Net Income, 1 Yr. Growth %	123.81	-101.65	-2.13K	385.92	-419.28
Normalized Net Income, 1 Yr. Growth %	120.7	-108.86	-491.84	361.46	10.95
Diluted EPS Before Extra, 1 Yr. Growth %	123.81	-101.64	-1.33K	362.16	-417.32
Accounts Receivable, 1 Yr. Growth %	30.92	-11.67	87.61	19.19	7.59
Inventory, 1 Yr. Growth %	22.65	50	175.64	22.71	-19.23
Net Property, Plant and Equip., 1 Yr. Growth %	-0.43	1.64	37.68	19.26	-25.9
Total Assets, 1 Yr. Growth %	29.01	119.74	72.47	9.46	10.36
Tangible Book Value, 1 Yr. Growth %	39	117.64	-33.17	41.9	169.8
Common Equity, 1 Yr. Growth %	30.86	328.83	38.67	7.2	30.44
Cash From Operations, 1 Yr. Growth %	-878.25	-189.95	38.38	-170.96	164.95
Capital Expenditures, 1 Yr. Growth %	336.76	100	-55.56	189.58	-23.02
Levered Free Cash Flow, 1 Yr. Growth %	-	-271.61	78.59	-86.45	-1.64K
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-260.84	79.27	-99.91	-256K
Dividend Per Share, 1 Yr. Growth %	100	0	-	-	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	18.58	36.16	56.58	27.49
Gross Profit, 2 Yr. CAGR %	-	29.74	39.09	62.72	29.31
EBITDA, 2 Yr. CAGR %	-	-54.24	-17.43	335.71	108.01
EBITA, 2 Yr. CAGR %	-	-65.68	-20.93	473.73	115.07
EBIT, 2 Yr. CAGR %	-	-63.02	-27.57	458.1	101
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-80.81	-42.2	892.83	293.88
Net Income, 2 Yr. CAGR %	-	-80.81	-42.2	892.83	293.88
Normalized Net Income, 2 Yr. CAGR %	-	-55.8	-41.08	325.22	126.27
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-80.85	-55.02	655	282.96
Accounts Receivable, 2 Yr. CAGR %	-	7.53	28.73	49.54	13.24
Inventory, 2 Yr. CAGR %	-	35.49	103.34	83.91	-0.44
Net Property, Plant and Equip., 2 Yr. CAGR %	-	0.66	18.3	28.14	-6
Total Assets, 2 Yr. CAGR %	-	68.34	94.67	37.4	9.9
Tangible Book Value, 2 Yr. CAGR %	-	73.84	20.6	-2.62	95.66
Common Equity, 2 Yr. CAGR %	-	136.8	143.85	21.92	18.25
Cash From Operations, 2 Yr. CAGR %	-	164.63	11.57	-0.9	37.12
Capital Expenditures, 2 Yr. CAGR %	-	195.72	-5.72	13.45	49.3
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	74.94	-50.82	44.21
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	69.68	-96	51.05
Dividend Per Share, 2 Yr. CAGR %	-	41.42	-	-18.35	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	30.3	42.43	36.75
Gross Profit, 3 Yr. CAGR %	-	-	41.32	45.1	41.01
EBITDA, 3 Yr. CAGR %	-	-	11.35	25.86	203.99
EBITA, 3 Yr. CAGR %	-	-	8.73	24.71	266.14
EBIT, 3 Yr. CAGR %	-	-	6.22	23.08	228.38
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-9.26	17.53	580.2
Net Income, 3 Yr. CAGR %	-	-	-9.26	17.53	580.2
Normalized Net Income, 3 Yr. CAGR %	-	-	-8.53	17.01	171.72
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-23.23	-2.22	465.54
Accounts Receivable, 3 Yr. CAGR %	-	-	29.45	25.47	34
Inventory, 3 Yr. CAGR %	-	-	71.68	71.83	39.79
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	11.74	18.62	6.76
Total Assets, 3 Yr. CAGR %	-	-	69.71	60.68	27.72
Tangible Book Value, 3 Yr. CAGR %	-	-	26.41	27.32	36.77
Common Equity, 3 Yr. CAGR %	-	-	98.11	85.42	24.7
Cash From Operations, 3 Yr. CAGR %	-	-	113.2	-4.05	37.54
Capital Expenditures, 3 Yr. CAGR %	-	-	57.23	37.05	-0.31
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-25.44	54.86
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-86.3	59.93
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-12.64	-12.64
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	29.17
Gross Profit, 5 Yr. CAGR %	-	-	-	-	36.39
EBITDA, 5 Yr. CAGR %	-	-	-	-	42.98
EBITA, 5 Yr. CAGR %	-	-	-	-	42.84
EBIT, 5 Yr. CAGR %	-	-	-	-	37.09
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-	63.24
Net Income, 5 Yr. CAGR %	-	-	-	-	63.24
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-	31.41
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	46
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	22.71
Inventory, 5 Yr. CAGR %	-	-	-	-	38.06
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	4.27
Total Assets, 5 Yr. CAGR %	-	-	-	-	42.63
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	50.54
Common Equity, 5 Yr. CAGR %	-	-	-	-	61.16
Cash From Operations, 5 Yr. CAGR %	-	-	-	-	78.7
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	54.01
Dividend Per Share, 5 Yr. CAGR %	-	-	-	-	5.92