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Five-year reviewFive-year review 2007-2003SKr million except where otherwise stated 2007 2006 2005 2004 2003Profit and loss accountNet turnover 1,078.8 1,035.0 991.2 940.3 650.2Operating profit, Industrial Operations 43.0 38.6 51.0 61.0 99.91 1)Profit/loss, Management of Securities -8.4 108.8 142.0 45.3 79.2Net interest and other central costs -52.4 -22.7 -26.5 -21.0 -21.5Profit/loss before tax -17.7 124.7 166.5 85.3 157.5Profit/loss after tax -24.6 116.3 162.9 75.6 143.7Balance sheetBalance sheet total 1,276.9 1,378.1 1,275.5 1,032.8 819.2Equity as stated in balance sheet 472.6 830.1 768.3 658.2 547.4Net debt 216.0 239.7 255.8 201.2 140.2Cash flow analysisCash flow from continuing operations 11.7 54.7 62.6 93.4 19.0Cash flow from investment activities 155.2 -5.8 -53.9 -95.1 1.6Cash flow from financing activities -198.0 -10.0 63.0 -20.4 -28.7Cash flow for the year -31.1 38.9 71.7 -22.1 -7.9Key ratios, GroupEquity ratio, % 37.0 60.2 60.2 63.7 66.8Return on equity, % -3.8 14.6 23.1 28.0 31.8Key ratios, Industrial OperationsOperating margin 4.0 3.7 5.1 6.5 9.5 2)EBITA 57.0 54.3 62.8 78.0 61.6EBITA, % 5.3 5.3 6.3 8.3 9.5Return on capital employed, % - - - 14.3 20.9Return on operative capital, % 6.8 6.9 9.6 - -Operative capital, average 628.4 561.0 532.7 - -Fixed capital expenditure 77.8 41.4 61.7 107.4 20.3Per share dataEarnings after tax, SKr/share -4.85 28.20 37.70 16.45 34.05Cash flow, SKr/share -7.40 9.20 17.00 -5.25 -1.90Dividend, SKr/share 6:- 3) 11:- 11:- 10:- 10:-Total dividend 25.3 46.4 46.4 42.2 42.2Direct yield, % 4.7 5.0 5.3 5.7 6.7Total yield, % -3 10 25 23 73PersonnelNumber of employees 638 611 602 559 360Wages, salaries and other benefits 230.9 209.7 202.9 182.5 129.8Value added per employee, SKr thousand 528 493 529 518 603Net turnover per employee, SKr thousand 1,691 1,694 1,647 1,682 1,8061) Including capital gains on divestment of subsidiary.2) Excluding capital gains on divestment of subsidiary.3) Proposed dividend for 2007 SKr 6 per share.See page 81 for definitions.80