Contents Nobia 2017 1 The year in figures 2 Nobia in brief 4 CEO’s comments 6 Value creation 8 Trends 11 Strategy 12 Digital solutions 14 Targets and outcome Operations 16 Business overview 18 Nordic region 20 UK region 22 Central Europe region Sustainability 24 A more sustainable life in the kitchen 26 Strategy that looks to the future 28 Our sustainability initiatives 31 Governance 32 Solutions for current and future needs 33 Sustainabile choice of materials 34 Reduced climate impact 36 Responsible sourcing 37 Our employees 39 Business ethics and transparency Board of Director's Report 40 Financial overview 46 Risks and risk management Financial statements 50 Consolidated income statement, consolidated statement of comprehensive income and comments 54 Consolidated balance sheet and comments 56 Change in consolidated shareholders’ equity 57 Consolidated cash-flow statement and comments 58 Parent Company income statement, balance sheet and cash-flow statement 60 Notes 90 Reconciliation of alternative performance measures 92 Board of Directors’ assurance 93 Audit report Corporate governance and the Nobia share 96 Corporate Governance Report 102 Board of Directors 104 Group management 106 The Nobia share and shareholders 108 Five-year overview 109 Definitions – Key figures 111 Summary – Sustainability indicators 113 Annual General Meeting The audited annual report and consolidated financial statement can be found on pages 40–92.The Corporate Governance Report that has been audited by the auditors can be found on pages 96–101.The Sustainability Report that has been reviewed by the auditors can be found on pages 24–39. The kitchen on the front cover is Marbodal Viken. 2017 Net sales 12,744 SEK million Operating cash flow 706 SEK million Sales per region, % Nordic, 51 UK, 45 Central Europe, 4 Net sales SEK m 15,000 10,000 5,000 0 2013 2014 2015 2016 2017 Operating profit 1,286 SEK million Return on operating capital 31.5 per cent Sales per product, % Kitchen furnishings, such as cabinets and worktops, 73 Other kitchen equip- ment, installation and service, 21 Joinery products, 5 Bathrooms, 1 Operating profit and operating margin SEK m % 1,500 15 1,000 10 500 5 0 0 2013 2014 2015 2016 2017
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