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Definitions and Alternative Performance Measures

The Annual Report includes financial key ratios that are based on the IFRS rules. In addition to these, there are other Alternative Performance Measures (APMs) that are used by the Company and other interests to describe the Group’s operations and which cannot be discerned or derived from the financial statements. These APMs are to be regarded as a complement to the financial reporting presented in accordance with IFRS. It should be noted that the APMs defined below may differ somewhat from other companies’ definitions of the same terms. For further reconciliation of the APMs, see file below.

Market value of equities portfolio

The value of the equities portfolio based on share prices on the balance sheet date.

Dividend yield

Dividend per share in relation to the share price on the balance sheet date.

Net debt

Financial liabilities and provision for pensions less cash and cash equivalents and financial receivables.

Earnings per share

Net income for the year divided by the total number of shares outstanding.

Debt-equities ratio

Net debt in relation to the market value of the equities portfolio.

Equity ratio

Shareholders’ equity as a share of total assets.

Net asset value

The market value of the equities portfolio less net debt.

Net asset value including reinvested dividend

To calculate the development of net asset value before dividends paid out, the dividends paid out by the Company are reversed and recalculated to take into account the performance of the equities portfolio. This gives a measure of how net asset value would have developed if Industrivärden had not paid any dividend.

Total return, shareholding

Change in value of a shareholding included calculated reinvested dividend. Reported only for the current reporting period.

Total return, shares

Change in the share price taking into account reinvested dividends. The total return is compared against the return index (SIXRX), which indicates the price development  including reinvested dividends for stocks listed on the Stockholm Stock Exchange.

Total return, Sandvik and Alleima

The total return for Sandvik and Alleima has been calculated as the respective companies’ share of the original company Sandvik’s total return before the split (based on the share of value at the time of the split), and thereafter based on the
value development for the respective companies. The split was carried out on August 26, 2022, and the first day of trading in Alleima shares was August 31, 2022.

Change in value of shares

For shares held at both the start and end of the year, the change in market value consists of the difference in value between these two points in time. For shares sold during the year, the change in market value consists of the difference between the sales price of the shares and their value at the start of the year. For shares acquired during the year, the change in market value consists of the difference between the cost of the shares and their value at the end of the year.


Alternative Performance Measures

Last update: Jun 13, 2023