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Financial summary

SEK Million 2016 2015 2014 2013 2012
Continuing operations        
Net sales 4,271 4,200 3,870 3,349 3,268
Gross profit 1,231 1,241 1,134 983 946
Operating income 502 528 452 369 355
EBITDA 632 656 572 473 454
EBIT 463 490 433 352 243
Net income 334 346 302 254 137
Whereof non-controlling interests 2 - - - -
Key ratios          
Sales growth %, organic and currency adjusted 1.2% 1.3% 3.9% 1.7% -2.2%
Gross margin % 28.8% 29.6% 29.3% 29.4% 28.9%
Operating margin % 11.8% 12.6% 11.7% 11.0% 10.9%
EBITDA margin % 14.8% 15.6% 14.8% 14.1% 13.9%
Value per share (SEK)          
Earnings per share, before and after dilution 7.06 7.37 6.42 2.63 5.54
Dividend 5,003) 5.00 4.50 4.00 3.50
Market price at closing day 125.00 141.50 116.00 83.25 59.00
TOTAL          
Equity 2,486 2,345 2,193 2,099 1,985
Total assets 4,487 4,178 4,328 3,695 3,531
Net debt 757 584 888 491 555
Cash flow from operating activities 446 623 533 4634) 4294)
Cash flow after investments 146 462 49 3254) 3174)
Dividend, % of net income 71% 67% 66% 70% 133%
Number of emplyees 2,234 2,082 2,092 1,902 1,875
Key ratios          
Net debt/equity ratio 31% 25% 41% 23% 32%
Net debt/EBITDA1) 2) 1.20 .89 1.55 1.04 1.22
Return on equity 13% 15% 14% 12% 7%
Return on capital employed %1) 2) 16% 19% 15% 15% 15%
Return on capital employed, without goodwill %1) 2) 31% 38% 31% 32% 29%
     
1) Calculated based on operating income.          
2) Calculated based on last twelwe month.          
3) Proposed dividend.          
4) Not recalculated for continuing operations          

Definitions

If you seek guidance on the meaning of words or acronyms shown on this site, please click on the link. It provides a guide clarifying the terms and abbreviations that are the subject of frequently asked questions. 

DEFINITIONS

Capital employed
Non-interest bearing fixed assets and current assets, excluding deferred tax assets, less non-interest bearing liabilities.

Continuing operations
Duni excluding hygiene operations, which were discontinued in early 2015. These operations were deducted from the comparative years and are instead reported under discontinued operations on a line after net income for continuing operations.

Cost of goods sold
Cost of goods sold including production and logistic costs.

Currency adjusted
Figures adjusted for changes in exchange rates related to consolidation. Figures for 2017 are calculated at exchange rates for 2016. Effects of translation of balance sheet items are not included.

Earnings per share
Net income divided by the average number of shares.

EBIT
Reported operating income.

EBIT margin
EBIT as a percentage of net sales.

EBITA
Operating income before amortization of intangible assets.

EBITDA
Operating income before depreciation and impairment of fixed assets.

EBITDA margin
EBITDA as a percentage of net sales.

Gross margin
Gross profit as a percentage of net sales.

HoReCa
Abbreviation for hotels, restaurants and catering.

Net interest-bearing debt
Interest-bearing liabilities and pensions less cash and cash equivalents and interest-bearing receivables.

Number of employees
The number of active full-time employees at end of period.

Operating income
Operating income adjusted for restructuring costs, fair value allocations and amortization of intangible assets identified in connection with business acquisitions.

Organic growth
Acquired companies are included in organic growth when they have been a part of the Duni Group for eight quarters.

Private label
Products marketed under customer’s own label.

Return on capital employed
Operating income as a percentage of capital employed.

Return on shareholders’ equity
Net income as a percentage of shareholders’ equity.

Source reference
HoReCa statistics refer to the European Commission website, Key Indicators for the Euro Area. DEHOGA refers to HoReCa statistics for Germany on DEHOGA Zahlenspiegel.

 

 

Accounting principles

Since January 1, 2005, Duni applies International Financial Reporting Standards (IFRS) as adopted by the European Union. For transition effects see notes 45 and 46 in the Annual Report of 30 June 2007.

ACCOUNTING PRINCIPLES

Since January 1, 2005, Duni applies International Financial Reporting Standards (IFRS) as adopted by the European Union. For transition effects see notes 45 and 46 in the Annual Report of 30 June 2007.

This interim reports are prepared in accordance with IAS 34, Interim Reporting. The consolidated financial statements are prepared in accordance with IFRS as adopted by the EU and with the related reference to Chapter 9 of the Annual Accounts Act. The parent company’s financial statements are prepared in accordance with RFR 2, Reporting for Legal Entities, and the Annual Accounts Act. The accounting principles can be further read in note 2 in the latest published Annual Report and if any new accounting standards are applied in continuing year they are described in the latest interim report.