Projected Income Statement: NOTE AB

Forecast Balance Sheet: NOTE AB

Fiscal Period: December 2020 2021 2023 2024 2025 2026 2027
Net Debt 1 - - - 219 530 1,339 1,125
Change - - - - 142.01% 157.5% -15.98%
Announcement Date 6/18/21 A 1/28/22 A 3/22/24 A 1/27/25 A 1/26/26 A - -
1SEK in Million
Estimates

Cash Flow Forecast: NOTE AB

Fiscal Period: December 2025 2026 2027
CAPEX 1 146.5 137.5 131
Change - 4.17% -4.73%
Free Cash Flow (FCF) 1 362.4 197.8 306
Change - -42.58% 54.7%
Announcement Date 1/26/26 A - -
1SEK in Million
Estimates

Forecast Financial Ratios: NOTE AB

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027

Profitability

        
EBITDA Margin (%) - - - - 12.15% 13.21% 13.11% 13.88%
EBIT Margin (%) - - - - 9.02% 9.99% 9.72% 10.38%
EBT Margin (%) - - - - 7.95% 9.23% 7.7% 9.14%
Net margin (%) - - - - 6.36% 7.37% 6.22% 7.36%
FCF margin (%) - - - - - 9.5% 4.27% 5.77%
FCF / Net Income (%) - - - - - 128.98% 68.62% 78.36%

Profitability

        
ROA - - - - - - - -
ROE - - - - 18.1% 17.1% 15.9% 18.2%

Financial Health

        
Leverage (Debt/EBITDA) - - - - 0.46x 1.05x 2.2x 1.53x
Debt / Free cash flow - - - - - 1.46x 6.77x 3.67x

Capital Intensity

        
CAPEX / Current Assets (%) - - - - - 3.84% 2.97% 2.47%
CAPEX / EBITDA (%) - - - - - 29.07% 22.64% 17.79%
CAPEX / FCF (%) - - - - - 40.43% 69.51% 42.81%

Items per share

        
Cash flow per share 1 - - - - - - - -
Change - - - - - - - -
Dividend per Share 1 - - - - - 4.64 2.69 1.75
Change - - - - - - -42.02% -34.94%
Book Value Per Share 1 - - - - 57.5 57.7 67.66 78.98
Change - - - - - 0.35% 14.97% 16.73%
EPS 1 4.05 6.72 - 11.04 8.61 9.89 10.09 13.68
Change - 65.93% - - -22.01% 14.87% 5.64% 35.58%
Nbr of stocks (in thousands) 28,373 28,584 - 28,984 28,984 28,549 28,549 28,549
Announcement Date 6/18/21 A 1/28/22 A - 3/22/24 A 1/27/25 A 1/26/26 A - -
1SEK
Estimates
2025 2026 *
P/E 18.4x 14.6x
PBR 3.15x 2.18x
EV / Sales 1.5x 1.2x
Yield 3.15% 1.82%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
-
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
2
Last Close Price
147.40SEK
Average target price
197.00SEK
Spread / Average Target
+33.65%

Quarterly revenue - Rate of surprise