Finansiella data

Consolidated income statement

SEKm	2022	2021	2020	2019	2018	2017	2016	2015
Net sales	156.173	121.867	121.752	128.975	118.500	109.265	101.238	98.519
Cost of goods sold	-117.046	-86.628	-82.132	-90.876	-85.058	-76.899	-72.438	-71.898
Items affecting comparability - cost of goods sold	-1.899	-146	-181	-243	-1.437	-509	-532	-267
Gross profit	37.228	35.093	39.439	37.856	32.005	31.857	28.268	26.354
Sales, general and administration	-26.107	-21.617	-22.088	-22.319	-20.570	-19.130	-16.965	-16.216
Items affecting comparability - sales, general and administration ¹⁾	-272	517	122	-470	62	-346	-2.113	-25
Share of profits of associates and joint ventures	38	58	94	60	63	169	157	198
Operating profit before amortization of acquisition-related intangible assets (EBITA)	10.887	14.051	17.567	15.127	11.560	12.550	9.347	10.311
Amortization of acquisition-related intangible assets	-1.116	-852	-809	-778	-732	-560	-159	-133
Items affecting comparability - acquisition-related intangible assets	-292	-	-	-	-69	-85	-180	-494
Operating profit	9.479	13.199	16.758	14.349	10.759	11.905	9.008	9.684
Financial income ²⁾	173	102	108	106	91	158	202	312
Financial expenses	-1.543	-764	-1.066	-1.415	-1.248	-1.340	-1.037	-1.140
Profit before tax	8.109	12.537	15.800	13.040	9.602	10.723	8.173	8.856
Income taxes	-2.045	-2.727	-4.053	-2.828	-1.050	-1.938	-3.931	-2.278
Profit for the period	6.064	9.810	11.747	10.212	8.552	8.785	4.242	6.578

Earnings attributable to:
Owners of the Parent company	5.567	8.620	10.228	9.216	7.886	8.116	3.800	6.129
Non-controlling interests	497	1.190	1.519	996	666	669	442	449

Earnings per share - owners of the Parent company
Earnings per share before and after dilution effects, SEK ³⁾	7,93	12,27	14,56	13,12	11,23	11,56	5,41	8,73
Dividend per share, SEK	7,25	7,00	6,75	6,25	5,75	5,75
Average number of shares before and after dilution, million ³⁾	702,30	702,30	702,30	702,30	702,30	702,30	702,30	702,30

By operating segment (SEKm)
Net Sales
Health & Medical ⁴⁾	25.239	21.685	21.170	22.075
Consumer Goods ⁴⁾	94.841	74.040	75.146	76.169
Professional Hygiene	36.114	26.143	25.418	30.731
Other	-21	-1	18	-
Total	156.173	121.867	121.752	128.975	118.500	109.265	101.238	98.519

Adjusted EBITA ⁵⁾
Health & Medical ⁴⁾	2.903	3.821	3.668	3.734
Consumer Goods ⁴⁾	7.211	7.938	11.538	8.333
Professional Hygiene	3.998	2.710	3.317	4.463
Other	-1.054	-789	-897	-690	-591	-620	-577	-737
Total Adjusted EBITA ⁵⁾	13.058	13.680	17.626	15.840	12.935	13.405	11.992	10.603

1) 2015 Includes the sale of securities, SEK 970m.
2) 2015 excludes the sale of securities, SEK 970m.
3) Indicative earnings per share on the assumption that the number of issued shares in Essity as of December 31, 2016 and 2015 corresponded to the number of issued shares in Essity on December 31, 2018 (702.3 million).
4) Essity has decided on new business areas which, as of January 1, 2022, consist of Health & Medical, Consumer Goods and Professional Hygiene. Comparative figures for the new Health & Medical and Consumer Goods business areas have been restated from 2019.
5) Excluding items affecting comparability.

Last updated: 2/23/2022 10:59 AM

Consolidated balance sheet

SEKm	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
ASSETS
Non-current assets
Goodwill	44.786	37.803	32.324	34.581	33.553	31.697	19.253	15.412
Other intangible assets	25.346	21.806	18.574	21.182	21.475	21.424	7.665	7.351
Property, plant and equipment	62.898	58.918	53.631	56.900	51.673	48.482	47.494	42.402
Participations in associates and joint ventures	291	239	847	865	777	1.062	1.096	1.041
Shares and participations	6	7	7	8	29	32	32	33
Surplus in funded pension plans	1.965	1.439	2.817	2.841	1.117	1.148	335	35
Non-current receivables, Group companies	-	-	-	-	-	-	-	39
Non-current financial receivables, Group companies	-	-	-	-	-	-	3	3
Non-current financial assets	123	412	738	694	634	552	714	728
Deferred tax assets	2.545	2.012	1.823	2.539	2.158	2.232	1.457	1.056
Other non-current assets	1.620	1.411	768	704	705	469	241	149
Total non-current assets	139.580	124.047	111.529	120.314	112.121	107.098	78.290	68.249

Current assets
Inventories	28.888	19.339	16.383	15.764	15.234	13.739	10.944	11.229
Trade receivables	25.990	19.871	17.825	19.864	18.687	17.607	15.843	14.808
Current tax assets	1.152	952	760	745	2.126	769	740	868
Current receivables, Group companies	-	-	-	-	-	-	57	166
Current financial receivables, Group companies	-	-	-	-	-	-	1.433	12.207
Other current receivables	5.761	5.787	2.173	2.113	2.599	2.549	2.333	2.100
Current financial assets	4.941	1.150	993	525	422	1.105	244	776
Non-current assets held for sale	-	-	-	42	69	42	156	120
Cash and cash equivalents	4.288	3.904	4.982	2.928	3.008	4.107	4.244	4.828
Total current assets	71.020	51.003	43.116	41.981	42.145	39.918	35.994	47.102
Total assets	210.600	175.050	154.645	162.295	154.266	147.016	114.284	115.351

EQUITY AND LIABILITIES
Equity
Owners of the Parent company
Share capital	2.350	2.350	2.350	2.350	2.350	2.350	-	-
Reserves	11.477	6.416	581	6.284	5.003	3.154	4.061	1.501
Retained earnings	53.519	51.108	51.421	45.491	39.788	36.785	29.143	41.485
Equity attributable to owners of the Parent company	67.346	59.874	54.352	54.125	47.141	42.289	33.204	42.986
Non-controlling interests	9.218	8.633	8.990	8.676	7.758	7.281	6.376	5.289
Total equity	76.564	68.507	63.342	62.801	54.899	49.570	39.580	48.275

Non-current liabilities
Non-current financial liabilities	58.242	47.443	38.202	43.079	43.500	47.637	31.299	21.463
Non-current liabilities, Group companies	-	-	-	-	-	-	48	-
Provisions for pensions	2.671	4.149	5.328	5.866	5.258	4.541	5.273	2.919
Deferred tax liabilities	8.718	7.574	6.150	6.545	7.272	7.090	3.872	3.756
Other non-current provisions	491	396	445	541	1.694	1.481	1.407	886
Other non-current liabilities	1.196	86	105	183	71	79	72	146
Total non-current liabilities	71.318	59.648	50.230	56.214	57.795	60.828	41.971	29.170

Current liabilities
Current financial liabilities	13.273	10.746	8.688	8.983	10.827	7.201	5.089	12.402
Current liabilities, Group companies	-	-	-	-	-	-	259	341
Current financial liabilities, Group companies	-	-	-	-	-	-	485	852
Trade payables	25.644	18.030	14.791	15.802	15.911	14.748	12.972	11.869
Current tax liabilities	1.589	1.576	2.301	2.432	570	553	915	808
Current provisions	1.217	736	748	1.065	1.472	1.547	1.409	889
Other current liabilities	20.995	15.807	14.545	14.998	12.792	12.569	11.604	10.745
Total current liabilities	62.718	46.895	41.073	43.280	41.572	36.618	32.733	37.906
Total liabilities	134.036	106.543	91.303	99.494	99.367	97.446	74.704	67.076
Total equity and liabilities	210.600	175.050	154.645	162.295	154.266	147.016	114.284	115.351

Contingent liabilities and pledged assets, see Note G3 in the Annual and Sustainability Report 2021

Capital employed	139.433	123.940	106.030	113.741	109.303	102.037	74.753	67.333
Net debt	62.869	55.433	42.688	50.940	54.404	52.467	35.173	19.058

Last updated: 2/23/2022 10:59 AM

Consolidated operating cash flow statement

SEKm	2022	2021	2020	2019	2018	2017	2016	2015
Net sales	156.173	121.867	121.752	128.975	118.500	109.265	101.238	98.519
Operating expenses	-135.820	-101.885	-97.555	-106.416	-100.165	-90.867	-84.498	-83.483
Operating surplus	20.353	19.982	24.197	22.559	18.335	18.398	16.740	15.036
Adjustment for non-cash items	621	489	456	373	235	67	19	15
Operating cash surplus	20.974	20.471	24.653	22.932	18.570	18.465	16.759	15.051
Change in
Inventories	-7.380	-1.047	-2.207	-194	-1.017	-1.703	1.059	-1.407
Operating receivables	-3.817	-2.084	53	-1.949	-344	1.522	-298	-1.029
Operating liabilities	7.513	2.287	1.344	2.502	390	-559	835	1.919
Change in working capital	-3.684	-844	-810	359	-971	-740	1.596	-517
Investments in non-current assets, net	-6.875	-7.304	-6.439	-5.707	-6.781	-6.012	-6.255	-5.472
Restructuring costs, etc.	-701	-725	-977	-1.494	-918	-1.091	-1.102	-801
Operating cash flow before investments in operating assets through leases	9.714	11.598	16.427	16.090	9.900	10.622	10.998	8.261
Investments in operating assets through leases	-547	-480	-409	-451	0	0	0	0
Operating cash flow	9.167	11.118	16.018	15.639	9.900	10.622	10.998	8.261

Financial items	-1.370	-662	-958	-1.309	-1.157	-1.182	-835	-828
Income taxes paid	-2.426	-3.634	-3.917	-1.130	-2.466	-2.971	-3.782	-2.194
Other	9	72	32	8	86	175	149	132
Cash flow from current operations	5.380	6.894	11.175	13.208	6.363	6.644	6.530	5.371
Acquisitions of Group companies and other operations	-4.955	-11.813	-747	-143	-694	-26.045	-6.540	-92
Divestments of Group companies and other operations	-	13	367	220	68	29	369	49
Cash flow from acquisitions and divestments	-4.955	-11.800	-380	77	-626	-26.016	-6.171	-43
Cash flow before transactions with shareholders	425	-4.906	10.795	13.285	5.737	-19.372	359	5.328

Private placement to non-controlling interests	35	25	64	4	5	28	435	0
Dividend to non-controlling interests	-396	-571	-423	-336	-397	-285	-190	-216
Dividend	-4.916	-4.741	-4.390	-4.038	-4.038	-	-	-
Transactions with shareholders	-	-	-	-	-	838	-14.571	-2.225
Net cash flow	-4.852	-10.193	6.046	8.915	1.307	-18.791	-13.967	2.887


Net debt, January 1	-55.433	-42.688	-50.940	-54.404	-52.467	-35.173	-19.058	-25.066
Changed opening balance for net debt due to IFRS 16 Leases	-	-	-	-3.786	-	-	-	-
Net cash flow	-4.852	-10.193	6.046	8.915	1.307	-18.791	-13.967	2.887
Remeasurements to equity	2.281	-147	-199	488	-1.041	1.061	-1.570	1.281
Investments in non-operating assets through leases	-562	-385	-399	-434	-	-	-	-
Translation differences	-4.303	-2.020	2.804	-1.719	-2.203	436	-578	1.840
Net debt, December 31	-62.869	-55.433	-42.688	-50.940	-54.404	-52.467	-35.173	-19.058




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Last updated: 2/23/2022 10:59 AM

Multi-year summary

SEKm	2022	2021	2020	2019	2018	2017	2016	2015
INCOME STATEMENT
Net sales	156.173	121.867	121.752	128.975	118.500	109.265	101.238	98.519
Adjusted EBITA	13.058	13.680	17.626	15.840	12.935	13.405	11.992	10.603
Health & Medical ¹⁾	2.903	3.821	3.668	3.734
Consumer Goods ¹⁾	7.211	7.938	11.538	8.333
Professional Hygiene	3.998	2.710	3.317	4.463
Other operations	-1.054	-789	-897	-690	-591	-620	-577	-737
Items affecting comparability	-2.171	371	-59	-713	-1.375	-855	-2.645	-292
EBITA²⁾	10.887	14.051	17.567	15.127	11.560	12.550	9.347	10.311
Amortizations of acquisition-related intangible assets	-1.116	-852	-809	-778	-732	-560	-159	-133
Items affecting comparability	-292	-	-	-	-69	-85	-180	-494
Operating profit	9.479	13.199	16.758	14.349	10.759	11.905	9.008	9.684
Financial income³⁾	173	102	108	106	91	158	202	312
Financial expenses	-1.543	-764	-1.066	-1.415	-1.248	-1.340	-1.037	-1.140
Profit before tax	8.109	12.537	15.800	13.040	9.602	10.723	8.173	8.856
Income taxes	-2.045	-2.727	-4.053	-2.828	-1.050	-1.938	-3.931	-2.278
Profit for the period	6.064	9.810	11.747	10.212	8.552	8.785	4.242	6.578

BALANCE SHEET
Non-current assets (excluding financial receivables)	137.492	122.196	107.974	116.779	110.370	105.398	77.238	67.483
Receivables and inventories	61.791	45.949	37.141	38.486	38.646	34.664	29.917	29.171
Non-current assets held for sale	-	-	-	42	69	42	156	120
Financial receivables	2.088	1.851	3.555	3.535	1.751	1.700	1.052	766
Current financial assets	4.941	1.150	993	525	422	1.105	1.677	12.983
Cash and cash equivalents	4.288	3.904	4.982	2.928	3.008	4.107	4.244	4.828
Total assets	210.600	175.050	154.645	162.295	154.266	147.016	114.284	115.351

Equity	67.346	59.874	54.352	54.125	47.141	42.289	33.204	42.986
Non-controlling interests	9.218	8.633	8.990	8.676	7.758	7.281	6.376	5.289
Provisions	13.097	12.855	12.671	14.017	15.696	14.659	11.961	8.450
Interest-bearing debt	71.515	58.189	46.890	52.062	54.327	54.838	36.873	34.717
Operating and other non-interest bearing liabilities	49.424	35.499	31.742	33.415	29.344	27.949	25.870	23.909
Total equity and liabilities	210.600	175.050	154.645	162.295	154.266	147.016	114.284	115.351

Average capital employed ⁴⁾	135.046	114.163	112.473	114.663	107.575	90.167	73.145	70.115
Net debt, including pension provisions	62.869	55.433	42.688	50.940	54.404	52.467	35.173	19.058

OPERATING CASH FLOW STATEMENT
Operating cash flow	9.167	11.118	16.018	15.639	9.900	10.622	10.998	8.261
Cash flow from current operations	5.380	6.894	11.175	13.208	6.363	6.644	6.530	5.371
Cash flow before transactions with shareholders	425	-4.906	10.795	13.285	5.737	-19.372	359	5.328
Investments in non-current assets, net	-6.875	-7.304	-6.439	-5.707	-6.781	-6.012	-6.255	-5.472
Acquisitions of Group companies and other operations	-4.955	-11.813	-747	-143	-694	-26.045	-6.540	-92
Divestments of Group companies and other operations	-	13	367	220	68	29	369	49
Net cash flow	-4.852	-10.193	6.046	8.915	1.307	-18.791	-13.967	2.887

1) Essity has decided on new business areas which, as of January 1, 2022, consist of Health & Medical, Consumer Goods and Professional Hygiene. Comparative figures for the new Health & Medical and Consumer Goods business areas have been restated from 2019.
2) 2015 includes the sale of securities, SEK 970m.
³⁾ 2015 does not include the sale of securities, SEK 970m.³⁾
⁴⁾ Calculation of average capital employed is based on five measurements.⁴⁾

Last updated: 2/23/2022 10:59 AM

Key figures

	2022	2021	2020	2019	2018	2017	2016	2015
	SEK	SEK	SEK	SEK	SEK	SEK	SEK	SEK
Equity/assets ratio, %	32	34	35	33	31	29	29	37
Interest coverage ratio	6,9	19,9	17,5	11,0	9,3	10,1	10,8	11,7
Debt payment capacity, including pension liabilities, %	26	29	46	38	25	26	29	65
Debt/equity ratio, including pension liabilities	0,82	0,81	0,67	0,81	0,99	1,06	0,89	0,39
Debt/equity ratio, excluding pension liabilities	0,81	0,77	0,63	0,76	0,92	0,99	0,76	0,34
Return on capital employed, %	8,1	12,3	15,6	13,2	10,8	13,9	12,8	13,8
Adjusted return on capital employed, %	9,7	12,0	15,7	13,8	12,0	14,9	16,4	15,1
Return on equity, %	8,1	15,0	18,2	17,4	16,1	19,8	9,3	13,9
EBITA margin, %	7,0	11,5	14,4	11,7	9,8	11,5	9,2	10,5
Adjusted EBITA margin, %	8,4	11,2	14,5	12,3	10,9	12,3	11,8	10,8
Operating margin, %	6,1	10,8	13,8	11,1	9,1	10,9	8,9	9,8
Adjusted operating margin, %	7,6	10,5	13,8	11,7	10,3	11,8	11,7	10,6
Net margin, %	3,9	8,1	9,7	7,9	7,2	8,0	4,2	6,7
Capital turnover rate	1,16	1,07	1,08	1,12	1,10	1,21	1,38	1,41
Cash flow from current operations per share, SEK	7,66	9,82	15,91	18,81	9,06	9,46	9,30	7,65
Earnings per share, SEK	7,92	12,27	14,56	13,12	11,23	11,56	5,41	8,73
Dividend per share, SEK	7,25	7,00	6,75	6,25	5,75	5,75

Last updated: 2/23/2022 10:59 AM

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Finansiella data

Consolidated income statement

Consolidated balance sheet

Consolidated operating cash flow statement

Multi-year summary

Key figures