Alfa Laval 2023 – Consolidated financial position

Consolidated financial position

Consolidated financial position
ASSETS
SEK millions	Note	2023	2022
Non-current assets
Intangible assets	17, 18
Patents and unpatented know-how		2,376	2,633
Trademarks		1,438	1,978
Licenses, renting rights and similar rights		113	18
Internally generated intangible assets		626	530
Goodwill		25,069	26,258
		29,622	31,417
Property, plant and equipment	17, 19
Real estate		3,339	3,611
Machinery and other technical installations		2,734	2,423
Equipment, tools and installations		1,150	1,058
Construction in progress and advances to suppliers concerning property, plant and equipment		2,090	1,089
Right-of-use assets		2,456	2,529
		11,769	10,710
Other non-current assets
Other long-term securities	13, 14, 20	542	475
Pension assets	27	239	201
Derivative assets	13, 14, 15	167	95
Deferred tax assets	16	1,720	1,895
		2,668	2,666

Total non-current assets		44,059	44,793

Current assets
Inventories	21	14,950	14,775

Assets held for sale	19	59	100

Current receivables
Accounts receivable	13, 22, 36	10,282	9,717
Current tax assets		811	763
Other receivables	13, 23	5,372	5,338
Prepaid costs and accrued income	13, 24	578	495
Derivative assets	13, 14, 15	314	605
		17,357	16,918
Current deposits
Other current deposits	13, 25	728	311

Cash and cash equivalents	13, 26	5,135	4,352

Total current assets		38,229	36,456

TOTAL ASSETS		82,288	81,249

Consolidated financial position, continued
EQUITY AND LIABILITIES
SEK millions	Note	2023	2022
Equity
Attributable to owners of the parent
Share capital		1,117	1,117
Other contributed capital		2,770	2,770
Other reserves		-1,910	196
Retained earnings		35,056	31,299
		37,033	35,382

Attributable to non-controlling interests	12	345	322

Total equity		37,378	35,704

Non-current liabilities
Liabilities to credit institutions etc	13, 29	9,829	13,362
Lease liabilities	13, 35	1,473	1,549
Provisions for pensions and similar commitments	27	1,090	1,192
Provision for deferred tax	16	2,372	2,293
Other provisions	28	337	450
Derivative liabilities	13, 14, 15	53	140
Total non-current liabilities		15,154	18,986

Current liabilities

Other current liabilities
Liabilities to credit institutions etc	13, 29	3,444	1,700
Advances from customers		7,975	6,634
Accounts payable	13	4,871	4,891
Notes payable	13	334	423
Current tax liabilities		989	893
Lease liabilities	13, 35	1,128	1,122
Other liabilities	13, 30	6,096	5,269
Other provisions	28	1,757	2,164
Accrued costs and prepaid income	13, 31	2,636	2,770
Derivative liabilities	13, 14, 15	526	693
Total current liabilities		29,756	26,559

Total liabilities		44,910	45,545

TOTAL EQUITY AND LIABILITIES		82,288	81,249

Comments on the consolidated financial position

For comments on the individual lines in the statement on financial position, reference is made to Notes 12 to 36. For comments on the operating segments, see Note 1.

Capital employed

The average capital employed including goodwill and step-up values amounted to SEK 48,753 (43,060) million during the year.

Return on capital employed

The return on average capital employed including goodwill and step-up values amounted to 21.0 (17.3) percent during the year.

Capital turnover rate

The capital turnover rate calculated on the average capital employed including goodwill and step-up values amounted to 1.3 (1.2) times for the year.

Return on equity

Net income in relation to the average equity was 17.6 (13.5) percent during the year.

Solidity

The solidity, that is the equity in relation to total assets, was 45.4 (43.9) percent at the end of the year.

Net debt

The net debt was SEK 10,011 (13,070) million at the end of the year.

Net debt to EBITDA

Net debt in relation to EBITDA was 0.85 (1.47) times at the end of December.

Debt ratio

The debt ratio, that is the net debt in relation to equity, was 0.27 (0.37) times at the end of December.