Comments by the CEO
Corporate Governance Report
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DEVELOPMENT OF THE BUSINESS
During 2015 organic sales for the Group as a whole have remained unchanged. On our main market, Europe, we have seen some stabilisation in sales development. Meanwhile we have continued to focus on improving productivity, which has resulted in a better margin.
In 2015 we had an operating profi t before depreciation and amortisationof MSEK 428, with a margin of 7.1%. Our operating margin excluding items of a non-recurring nature was 6.6%, which is on a par with the previous year. Cash flow from operating activities was good during the year. Working capital increased, and the focus moving forward is to implement activities that lead to lower capital tied up in the business.
PROFITABLE GROWTH – OUR FUTURE
During the second half of 2015 we analysed and updated the Group’s strategy for the four product groups Safes & Vaults, Cash Management, Entrance Security and Electronic Security. Our focus in this work was on strategy implementation and our priorities. Above all we have reached a consensus on how to work better and use our resources more efficiently by product area and region to strengthen the Group’s customer focus, offering and value chain.