Comments on the consolidated balance sheet
For comments on the individual lines in the balance sheet, reference is made to Notes 11 to 34. For comments on the segments, see Note 1.
Capital employed
The capital employed including goodwill and step-up values amounted to SEK 11,144 (9,289) million at the end of the year.
Return on capital employed
The return on capital employed including goodwill and step-up values amounted to 53.8 (54.2) percent during 2008.
Capital turnover rate
The capital turnover rate calculated on the average capital employed including goodwill and step-up values amounted to 2.5 (2.7) times for the year.
Return on equity capital
The net income for the year in relation to equity capital was 42.8 (44.1) percent.
Solidity
The solidity, that is the equity capital in relation to total assets, was 36.1 (34.2) percent at the end of the year.
Net debt
The net debt was SEK 2,074 (2,397) million at the end of the year.
Net debt to EBITDA
Net debt in relation to EBITDA was 0.3 (0.5) times at the end of December.
Debt ratio
The debt ratio, that is the net debt in relation to equity capital, was 0.20 (0.30) times at the end of December.
Changes in consolidated equity capital
Attributable to:   Equity holders of the parent   Minority Total
    Other          
  Share contributed Other Retained      
Amounts in SEK millions capital capital reserves earnings Subtotal    
As of December 31, 2005 1 117 2 770 -146 1 938 5 679 132 5 811
2006              
Result items booked directly to equity              
Cash flow hedges - - 228 - 228 - 228
Translation difference - - -246 - -246 -23 -269
Deferred tax - - -65 - -65 - -65
Net of items booked directly against equity - - -83 - -83 -23 -106
Net income              
Net income for 2006 - - - 1,687 1,687 38 1,725
Sum of income and costs - - -83 1 687 1 604 15 1,619
Transactions with shareholders              
Dividends to owners of parent company - - - -570 -570 - -570
Dividends to minority owner in subsidiary - - - - - -29 -29
As of December 31, 2006 1,117 2,770 -229 3,055 6,713 118 6,831
2007              
Result items booked directly to equity              
Cash flow hedges - - -26 - -26 - -26
Translation difference - - 155 - 155 13 168
Deferred tax - - 6 - 6 - 6
Net of items booked directly against equity - - 135 - 135 13 148
Net income              
Net income for 2007 - - - 3,137 3,137 43 3,180
Sum of income and costs - - 135 3,137 3,272 56 3,328
Transactions with shareholders              
Repurchase of shares - - - -1,497 -1,497 - -1,497
Increase of ownership in Alfa Laval (India) Ltd - - - 56 56 -56 -
Dividends to owners of parent company - - - -698 -698 - -698
Dividends to minority owner in subsidiary - - - - - -27 -27
As of December 31, 2007 1,117 2,770 -94 4,053 7,846 91 7,937
2008              
Result items booked directly to equity              
Cash flow hedges - - -580 - -580 - -580
Translation difference - - 839 - 839 11 850
Deferred tax - - 228 - 228 - 228
Net of items booked directly against equity - - 487 - 487 11 498
Net income              
Net income for 2008 - - - 3,774 3,774 33 3,807
Sum of income and costs - - 487 3,774 4,261 44 4,305
Transactions with shareholders              
Repurchase of shares - - - -766 -766 - -766
Cancellation of repurchased shares -43 - - 43 - - -
Bonus issue of shares 43 - - -43 - - -
Dividends to owners of parent company - - - -963 -963 - -963
Dividends to minority owner in subsidiary - - - - - -20 -20
As of December 31, 2008 1,117 2,770 393 6,098 10,378 115 10,493