Financial Information

Financial reports

Financial calendar

29
Apr
8:30

Interim report Q1 2021

2021 Apr 29
11
May
13:00

AGM 2021

2021 May 11
15
Jul
8:30

Interim report Q2 2021

2021 Jul 15
22
Oct
8:30

Interim report Q3 2021

2021 Oct 22
4
Feb
8:30

Year-end report 2021

2022 Feb 04

Financial review

NET SALES AND RESULT, SEK million 2019
 2018 2017 2016 2015  2014 2013 2012 2011  2010
Net sales 3,335.1 3,083.3 2,733.5 2,426.2 2,205.6 2,030.7 1,972.9 1,931.2 1,927.7 1,698.4
Operating profit before amortization of intangible assets (EBITA) 319.2 315.1 281.8 211.6 163.9 120.9 114.2 141.3 198.9 176.5
Profit after financial items 313.2 303.6 266.7 191.8 116.0 82.5 86.5 107.1 165.4 146.2
Profit margin, % 8.2 12.8 12.7 10.0 8.6 4.1 4.3 5.5 8.9 8.6
EBITA margin, % 9.6 10.2 10.3 8.7 7.4 6.0 5.8 7.3 10.7 10.4
Sales growth, % 9.4 9.8 9.8 7.9 5.3 2.9 2.2 3.4 10.0 22.6

 

CAPITAL STRUCTURE, SEK million 31 Dec 2019 31 Dec 2018 31 Dec 2017 31 Dec 2016 31 Dec 2015 31 Dec 2014
31 Dec 2013 31 Dec 2012 31 Dec 2011 31 Dec 2010
Intangible assets 983.4 963.0 921.4 915.7 898.5 952.9 975.2 943.3 952.3 960.9
Other fixed assets 245.9 51.0 51.8 53.6 52.8 42.7 39.1 40.9 41.1 42.0
Current assets 996.9 908.6 816.5 642.3 524.0 555.1 580.7 629.7 579.2 511.9
Assets in disposal groups - - 4.3 - - 15.3 - - - -
TOTAL ASSETS 2,226.2 1,922.6 1,794.0 1,611.6 1,475.3 1,566.0 1,595.0 1,613.9 1,572.6 1,514.8
Equity attributable to Parent Company's shareholders 1,225.1 1,091.4 938.7 835.0 738.9 786.7 780.4 849.0 808.8 713.2
Non-controlling interests 16.0 14.9 12.5 9.3 13.3 11.3 6.2 4.4 4.1 3.3
Total equity 1,241.1 1,106.3 951,2 844.3 752.2 798.0 786.6 853.4 812.9 716.5
Interest-bearing long-term liabilities 164.4 79.5 55.0 101.1 81.6 93.6 104.4 79.8 125.3 192.7
Other long-term liabilities 50.7 45.0 39.0 34.8 36.2 44.4 53.2 57.3 82.6 75.1
Interest-bearing current liabilities 105.8 26.8 95.2 62.7 138.9 178.7 209.9 167.1 104.3 111.0
Other current liabilities 664.2 665.0 652.4 568.7 466.4 436.4 440.9 456.3 447.5 419.5
Liabilities in disposal groups - - 1.2 - - 14.8 - - - -
TOTAL EQUITY AND LIABILITIES 2,226.2 1,922.6 1,794.0 1,611.6 1,475.3 1,566.0 1,595.0 1.613.9 1,572.6 1,514.8
Equity/assets ratio, % 55.7 57.5 53.0 52.4 51.0 51.0 49.3 52.9 51.7 47.3
Investments in goodwill and other fair value adjustments  8.0 6.1 7.3 - 10.7 5.0 74.5 13.9 18.3 271.5
Investments in machinery and equipment 7.9 6.1 13.4 4.8 12.7 8.2 4.5 8.2 7.9 4.3
Cash flow from operating activities 305.0 274.1 196.9 193.1 68.5 97.7 106.0 10.0 107.5 140.6
Net cash and cash equivalents 8.2 88.3 -45.0 -119.0 -213.8 -180.9 -209.9 -145.7 -103.0 -141.9
Capital employed 1,511.3 1,212.6 1,102.6 1,008.1 972.7 1,085.2 1,100.9 1,100.3 1,042.5 1,020.2
 Acid test ratio, x 1.3 1.3 1.1 1.0 0.9 0.9 0.9 1.1 1.0 1.0
Net debt ratio, x 0.0 -0.1 0.0 0.1 0.3 0.2 0.3 0.2 0.1 0.2

 

PROFITABILITY 2019
 2018 2017 2016 2015  2014 2013 2012 2011 2010
Return on capital, % 15.8 16.7 16.2 13.2 9.0 6.3 6.0 7.6 11.4 11.5
Return on equity, % 20.6 22.5 22.5 18.1 11.9 7.5 6.6 9.7 15.6 16.3
Return on capital employed, % 24.1 26.8 26.2 20.5 13.2 9.3 8.8 11.3 17.1 17.2
EMPLOYEES 2019
 2018 2017 2016 2015  2014 2013 2012 2011 2010
Average number of employees 2,213 2,032 1,864 1,737 1,769 1,737 1,681 1,646 1,539 1,376
Net sales per employee 1.5 1.5 1.5 1.4 1.2 1.2 1.2 1.2 1.2 1.2
Value added per employee 1.1 1.1 1.1 1.0 0.9 0.9 0.8 0.8 0.8 0.9
Result after financial items per employee 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Number of employees at year-end 2,337 2,260 2,065 1,867 1,802 1,788 1,833 1,739 1,670 1,470

Knowit’s share

Knowit’s share has been listed on the Nordic Exchange in Stockholm since 1997, and was moved from the Small Cap list to the Mid Cap list in January 2018. Knowit’s market value increased by 35.7 percent during the year, on an exchange where OMX Nasdaq Stockholm PI increased by 29.6 percent.

Share capital
As of December 30 2019, Knowit’s share capital was SEK 19.3 million, distributed across 19,253,760 shares at a quota value of SEK 1 each. All shares carry the same number of votes and the same rights to dividends.

Market listing
The share price at the end of the financial year was SEK 208.50 (153.60) per share, corresponding to a total market capitalization of SEK 4,014.4 (2,952.3) million. During the year, the share price increased by 35.7 percent, which can be compared with an increase of 29.6 percent for OMX Nasdaq Stockholm PI and an increase of 17.7 percent for OMX Nasdaq Stockholm Technology PI. The highest price paid during the year was SEK 224.00 on April 30 2019, while the lowest price was SEK 148.80 on January 3 2019. During the financial year, 9.7 (6.8) million Knowit shares were traded on the Stockholm Stock Exchange, or an average of 35,813 (27,294) shares per trading session. The number of shares traded corresponds to 50.2 (35.5) percent of the total shares at year-end.

The share was traded on 248 of the 249 trading days. The total number of shareholders as per December 30 2019 was 10,865 (8,466).

Dividend policy
The Board has adopted a dividend policy aimed at maintaining or increasing dividends each year. The dividend shall reflect the Board’s view on the expected market development over the next few years.

Dividend
The Board retracts its proposal for dividends of SEK 6.40 per share for fiscal 2019. The decision was made to prioritize the Company’s financial stability given the uncertain situation due to the covid-19 pandemic.

Data per share

Data per share 2019
 2018 2017 2016 2015  2014 2013 2012 2011 2010
No. of shares on balance sheet day,
000s, basic		 19,254 19,254 19,319 18,914 18,389 18,389 17,644 *) 17,644 17,275 17,075
No. of shares on balance sheet day,
000s, diluted		 19,254 19,254 19,319 18,914 18,389 18,389 17,644 *) 17,644 17,793 17,593
Average no. of shares,
000s, basic		 19,254 19,191 19,028 18,716 18,389 18,097 17,644 *) 17,463 17,204 16,717
Average no. of shares,
000s, diluted		 19,254 19,191 19,028 18,716 18,389 18,097 17,644 *) 17,463 17,346 16,834
Earnings per share, SEK,
basic		 12.06 11.62 10.22 7.39 4.58 2.83 2.86 4.47 6.81 6.15
Earnings per share, SEK,
diluted		 12.06 11.62 10.22 7.39 4.58 2.83 2.86 4.47 6.76 6.10
Equity per share, SEK,
basic		 63.63 56.68 49.05 44.15 40.18 42.79 44.23 48.12 46.82 41.77
Equity per share, SEK,
diluted		 63.63 56.68 49.05 44.15 40.18 42.79 44.23 48.12 46.90 42.00
Cash flow per share, SEK,
basic		 4.35 4.81 3.11 0.16 -4.54 -0.76 0.57 -1.49 -1.99 2.36
Cash flow per share, SEK,
diluted		 4.35 4.81 3.11 0.16 -4.54 -0.76 0.57 -1.49 -1.98 2.34
Dividend per share, SEK

0.00

5.80

 4.75 3.75 3.25 3.25 3.25 3.25 3.25 2.75
Share price, SEK 208.50 153.60 115.50 89.75 56.50 55.00 57.50 46.60 47.50 73.50
P/e ratio 17.3 13.2 15.2 12.1 12.3 19.4 20.1 10.4 7.0 12.0

*) Excluding repurchased shares, 49,000 in total

Development of share capital

 

Year Activity

Change in no. of shares

Total no. of shares

Quota value, SEK

Change in share capital, SEK million

Total share capital, SEK million

2010

 - - 14,922,971 1 - 14.9

2010

 New share issue 1) 1,345,050 16,268,021 1 1.3 16.2

2010  

 New share issue 2) 856,149 17,124,170 1 0.9 17.1
2011 New share issue 3) 199,999 17,324,169 1 0.2 17.3
2012 New share issue 4) 368,553 17,692,722 1 0.4 17.7
2014 New share issue 5) 745,044 18,437,766 1 0.7 18.4
2014 Withdrawal of  formerly repurchased shares -48,734 18,389,032 1 0.0 18.4
2016 Off-set issue 6) 525,092 18,914,124 1 0.5 18.9
2017 Off-set issue 7) 164,879 19,079,003 1 0.2 19.1
2017 Off-set issue 8) 60,214 19,139,217 1 0.0 19.1
2018 Off-set issue 9) 81,702 19,220,919 1 0.1 19.2
2018 Off-set issue 10) 32,841 19,253,760 1 0.1 19.3
2020 New share issue 11) 398,419 19,652,179 1 0.4 19.7

Notes
1) New share issue, payment for acquisition of shares in Know IT Objectnet AS
2) New share issue, payment of additional consideration in connection with acquisition
3) New share issue for acquisition of Endero Oy
4) New share issue for acquisition of Reaktor AS and subsidaries
5) Off-set issue in connection with acquisition of Reaktor AS and subsidiaries
6) Off-set issue in connection with acquisition of Knowit Amende AS and non-controlling interest shares in Knowit Experience Holding AS, Knowit Stavanger AS, Knowit Infra Syd AB and Knowit Infrastructure Göteborg AB
7) Off-set issue in connection with acquisition of Knowit Dataess AS and non-controlling interest shares in Knowit Quality Management Oslo AS and Knowit Experience eCommerce AB
8) Off-set issue in connection with acquisition of Require AB
9) Off-set issue aimed at the sellers of shares in Dataess AS, Norway and acquisition of non-controlling interest shares in Knowit Experience AS, Norway, and for redemption of synthetic options in Knowit Skåne AB
10) Off-set issue in connection with acquisition of All Rise Media AB
11) New share issue for acquisition of Creuna

Ownership distribution

AGM

Analysts

Daniel Thorsson
Analyst, ABG Sundal Collier
Phone: +46856628682

Erik Elander
Equity & Credit Research, Handelsbanken
Phone: +4687013141

Ramil Koria
Equity Research, SEB
Phone: +4685222 9674 Mobile: +46704329674

Stefan Wård
Co-Head of Equity Research, Pareto Securities AB
Phone: +4684025287

Press releases

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