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Financial highlights
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| SEK million | 2008 | 2007 | 2006 | 2005 | 2004 | | Income statement items | | Net sales | 208,930 | 187,780 | 179,821 | 153,222 | 131,972 | | Operating income | 16,252 | 30,646 | 35,828 | 33,084 | 26,706 | | Financial net | 974 | 83 | 165 | 251 | –540 | | Net income | 11,667 | 22 135 | 26,436 | 24,460 | 17,836 | | | | Year-end position | | Total assets | 285,684 | 245,117 | 214,940 | 209,336 | 186,186 | | Working capital | 99,951 | 86,327 | 82,926 | 86,184 | 69,268 | | Capital employed | 182,439 | 168,456 | 142,447 | 133,332 | 115,144 | | Net cash | 34,651 | 24,312 | 40,728 | 50,645 | 42,911 | | Property, plant and equipment | 9,995 | 9,304 | 7,881 | 6,966 | 5,845 | | Stockholders’ equity | 140,823 | 134,112 | 120,113 | 101,622 | 80,445 | | Minority interests | 1,261 | 940 | 782 | 850 | 1,057 | | Interest-bearing liabilities and post-employment benefits | 40,354 | 33,404 | 21,552 | 30,860 | 33,643 | | | | Other information | | Earnings, per share, basic, SEK | 3.54 | 6.87 | 8.27 | 7.67 | 5.54 | | Earnings, per share, diluted, SEK | 3.52 | 6.84 | 8.23 | 7.64 | 5.54 | | Cash dividends per share, SEK | 1.85 *1 | 2.50 | 2.50 | 2.25 | 1.25 | | Stockholders’ equity per share, SEK | 44.21 | 42.17 | 37.82 | 32.03 | 25.40 | | Number of shares outstanding (in millions) | | – at end of period, basic | 3,185 | 3,180 | 3,176 | 3,173 | 3,167 | | – average, basic | 3,183 | 3,178 | 3,174 | 3,169 | 3,166 | | – average, diluted | 3,202 | 3,193 | 3,189 | 3,181 | 3,179 | | Additions to property, plant and equipment | 4,133 | 4,319 | 3,189 | 3,365 | 2,452 | | Depreciation of property, plant and equipment | 3,108 | 3,121 | 3,007 | 2,804 | 2,434 | | Acquisitions/capitalization of intangible assets | 1,287 | 29,838 | 18,319 | 2,250 | 1,950 | | Amortization of intangible assets | 5,006 | 5,433 | 4,237 | 3,269 | 4,452 | | Research and development expenses | 33,584 | 28,842 | 27,533 | 24,059 | 23,421 | | – as percentage of net sales | 16.1% | 15.4% | 15.3% | 15.7% | 17.7% | | | | Ratios | | Operating margin | 7.8% | 16.3% | 19.9% | 21.8% | 20.2% | | Operating margin excluding Sony Ericsson | 8.0% | 12.5% | 16.7% | 20.1% | 18.6% | | EBITDA margin | 11.9% | 20.8% | 24.1% | 25.4% | 25.5% | | Cash conversion | 92% | 66% | 57% | 47% | 80% | | Return on equity | 8.2% | 17.2% | 23.7% | 26.7% | 24.2% | | Return on capital employed | 11.3% | 20.9% | 27.4% | 28.7% | 26.4% | | Equity ratio | 49.7% | 55.1% | 56.2% | 49.0% | 43.8% | | Capital turnover | 1.2 | 1.2 | 1.3 | 1.2 | 1.2 | | Inventory turnover | 5.4 | 5.2 | 5.2 | 5.1 | 5.7 | | Trade receivables turnover | 3.1 | 3.4 | 3.9 | 4.1 | 4.1 | | Payment readiness, SEK million | 84,917 | 64,678 | 67,454 | 78,647 | 81,447 | | – as percentage of net sales | 40.6% | 34.4% | 37.5% | 51.3% | 61.7% | | | | Statistical data, year-end | | Number of employees | 78,740 | 74,011 | 63,781 | 56,055 | 50,534 | | – of which in Sweden | 20,155 | 19,781 | 19,094 | 21,178 | 21,296 | | Export sales from Sweden, SEK million | 109,254 | 102,486 | 98,694 | 93,879 | 86,510 |
1) F or 2008, as proposed by the Board of Directors.
For definitions of the financial terms used, see Financial Terminology.
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