Annual report 2008 - Munters

The share and shareholders
35
Key figures per share 1 2008 2007 2006 2005 2004
Earnings per share, SEK 2.21 4.49 4.40 3.39 2.74
Earnings per share after
dilution, SEK 2.21 4.49 4.40 3.39 2.73
Average no. of outstanding
shares, 000s 73,933 73,898 73,749 73,614 73,134
No. of outstanding shares
on closing date, 000s 73,933 73,933 73,785 73,743 73,134
Treasury stock, 000s 1,067 1,067 1,215 1,257 1,866
Cash flow from operations
per share, SEK 4.44 5.34 7.19 4.16 2.86
Operating cash flow per
share, SEK 2.39 2.56 5.08 2.46 1.66
Equity per share, SEK 4 17.28 16.16 20.33 19.42 15.65
Equity per share after
dilution, SEK 17.28 16.16 20.33 19.45 15.63
Dividend per share, SEK 0.00 2 2.50 2.25 1.83 1.33
Share price on closing
date, SEK 38.40 76.75 105.67 73.00 66.67
Market capitalization on
closing date, SEK M 3 2,880 5,756 7,925 5,475 5,000
P/E ratio, multiple 17.4 17.1 24.0 21.5 24.3
Return on equity, % 4 13.8 25.7 22.5 19.3 17.8
Treasury shares
No repurchases or sales of treasury stock took place during
the year. See also Note 19.
Incentives programs
Outstanding incentives programs are presented in Note 29.
Analysts who continually monitor Munters
The market analysts listed below monitor Munters continuously.
It should be noted that the opinions and forecasts
regarding Munters that they express are their own and thus not
Munters’ own or the opinions and forecasts of its management.
Company Analyst Telephone
Carnegie Agnieszka Kaziow +46 8 676 85 86
Danske Bank Carl Gustafsson +46 8 568 805 23
Enskilda Securities Anders Eriksson +46 8 522 296 39
Handelsbanken Capital Jon Hyltner +46 8 701 12 75
Kaupthing Bank Carl-Johan Blomqvist +46 8 791 48 55
Swedbank Capital
Markets & Securities Johan Dahl +46 8 585 937 04
1
Historical figures for the share were adjusted for the share split, redemption and
non-cash issue implemented in 2007.
2
According
to the Board of Directors’ proposal.
3
The market capitalization is based on all shares, including treasury stock.
4
Effective January 1, 2006, Munters accounting is in accordance with the changes
implemented in IAS 19, actuarial gains and losses are now recognized in equity.
Key figures were recalculated according to those changes.
Trend in 2008
80
70
60
50
© NASDAQ OMX
Trend since listing in 1997
120
100
80
60
© NASDAQ OMX
40
30
20
Jan Feb Mar Apr Maj Jun Jul Aug Sep Okt Nov Dec
4,000
3,000
2,000
1,000
0
40
20
15
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
Share OMX Stockholm_PI Total shares traded (000s)
Carnegie Small Cap Index
Share OMX Stockholm_PI Total shares traded (000s)
Carnegie Small Cap Index
Per share data
Equity
Liquidity
Dividend per share
SEK SEK % SEK M multiple %
6
30
30 18
1.2 60
5
25
25 15
1.0 50
6
4
20
20 12
0.8 40
5
3
15
15 9
0.6 30
4
2
10
10 6
0.4 20
3
1
5
5 3
0.2 10
2
0
0
0 0
0.0 0
1
04 05 06 07 08 04 05 06 07 08 04 05 06 07 08 04 05 06 07 08 0
Earnings
Operating cash flow
Dividend
Equity, SEK per share
Return on equity
(right-hand scale)
Average turnover per trading day
Turnover rate (right-hand scale)
Actual dividend
Target
Munters Annual Report 2008
04 05 06
6
30
18
1,2
6
60
5
25
15
1,0
5
50
4
20
12
0,8
4
40