Definitions and Alternative Performance Measures

The Annual Report includes key financial ratios that are based on IFRS rules, such as earnings per share. In addition the Company and other stakeholders use Alternative Performance Measures (APMs) to describe the Group’s operations that 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 Accounting Standards. It should be noted that the APMs defined below may differ somewhat from other companies’ definitions of the same terms. 

Market value of the 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 provisions for pensions less financial receivables and cash and cash equivalents.

Earnings per share

Net income for the year divided by the weighted average 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.

Total return shareholdings

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

Total return, shares

Change in the share price including reinvested dividends. Total return is compared against the total return of the Stockholm Stock Exchange (SIXRX), and the total return of the OMXS30 (OMXS30GI).

Change in value of shareholdings

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 payment received for the shares and their value at the start of the year. For shares purchased 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.