New Wave Group Annual Report 2021 - EN | Page 65

NWG // FINANCIAL INFORMATION
Net sales
Net sales amounted to SEK 6,718.6 million , which was 10 % higher than the previous year ( SEK 6,098.9 million ). Exchange rate fluctuations had a negative impact on sales by SEK 166.6 million , which corresponds to 3 %
In the Group ' s two largest regions , the USA and Sweden , net sales increased by 23 %. The improvement took place in all segments for these two regions . Central Europe increased by 12 % and the Nordic region excluding Sweden increased by 21 % and also in these regions sales increased in all segments . Southern Europe decreased by 4 %, which is attributable to several major trading deliveries last year in the Corporate segment . However , the region increased in the Sports & Leisure segment . Other countries decreased by 26 %, which is related to trading operations in Asia in the Corporate segment , which decreased while Canada had an increase in net sales . Canada increased sales in both Corporate and Sports & Leisure .
Gross profit
The gross profit margin was higher than the previous year and amounted to 48.1 ( 43.2 )%. The higher margin is mainly related to the fact that last year had a high share of trading operations in the Corporate segment . This business has a lower percentage gross profit margin than the Group in general .
Five Year Summary
SEK million 2021 2020 2019 2018 2017
Net sales
6 718.6
6 098.8
6 903.5
6 290.6
5 597.3
Goods for resale
-3 489.3
-3 461.5
-3 701.0
-3 359.4
-3 018.1
Gross profit
3 229.3
2 637.3
3 202.4
2 931.2
2 579.2
Other operating income
111 . 5
146.2
77.9
74 . 8
51.2
External costs
-1 067.9
-975.7
-1 312.7
-1 336.4
-1 128.9
Personnel costs
-1 016.9
-982.6
-1 159.9
-1 063.0
-940.3
Amortizations , depreciations and write-downs
-227.3
-229.5
-233.1
-77.9
-65.3
Other operating costs
-21.7
-48.3
-39.6
-44.8
-25.2
Share of associated companies ’ result
-1.1
-1.4
-0.2
-1.1
-1.6
Operating result
1 005.9
545.9
535.0
482.8
469.1
Net financial items
-43.0
-64.9
-68.2
-40.9
-51.9
Result before tax
962.9
481.0
466.7
441.8
417.2
Tax expense
-202.9
-118. 0
-96.7
-81.8
-63.2
Result for the year
760.0
363.0
370.1
360.0
354.0
Gross profit margin , %
48.1
43.2
46.4
46.6
46.1
Operating margin , %
15.0
9.0
7.7
7.7
8.4
Equity ratio *, %
59.6
53.4
44.9
48.6
50.9
Net debt to equity ratio *, %
23.4
47.1
78.6
53.3
54.1
Net debt in relation to working capital *, %
35.7
59.5
77.1
57.0
57.4
Average number of employees
2 060
2 064
2 579
2 566
2 495
Total assets *, SEK million
7 660.6
7 216.7
8 394.3
7 061.4
5 953.1
* The key figures for 2019 and forward have been affected by accounting according to IFRS 16 .
ANNUAL REPORT // 065