Cash flow Hanza AB

Equities

HANZA

SE0005878543

Electronic Equipment & Parts

Market Closed - Nasdaq Stockholm Other stock markets 12:00:00 2026-05-08 pm EDT			5-day change	1st Jan Change
177.20 ^SEK	-1.12%		+30.10%	+39.31%

May. 08	Hanza CEO divests SEK 2.6 million of co's shares	RE
May. 06	Pareto Securities raises Hanza price target to SEK 189 (172), reiterates Buy	FW

09.AZKc74Z9UQf2x9SsCgiMinmiZvqj5YZ-_J0aqLyG1Ds.MMr2ns08E0C3t-P1eE_G0jjXP5XXv7NKl6pXnv38t1xz8aWesxRnSYKJhQ

Published financial data: HANZA AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	2.52B	3.55B	4.14B	4.85B	6.02B
Total Revenues	2.52B	3.55B	4.14B	4.85B	6.02B
Cost of Goods Sold, Total	1.37B	2.02B	2.3B	2.8B	3.33B
Gross Profit	1.15B	1.53B	1.84B	2.05B	2.69B
Selling General & Admin Expenses, Total	931M	1.23B	1.39B	1.66B	2.07B
Depreciation & Amortization - (IS)	105M	103M	120M	166M	242M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	17M	26M	35M
Other Operating Expenses	-11M	-4M	-9M	-6M	1M
Other Operating Expenses, Total	1.02B	1.33B	1.52B	1.85B	2.35B
Operating Income	124M	198M	326M	199M	344M
Interest Expense, Total	-20M	-32M	-66M	-95M	-81M
Interest And Investment Income	-	-	1M	4M	6M
Net Interest Expenses	-20M	-32M	-65M	-91M	-75M
Currency Exchange Gains (Loss)	-3.7M	-9M	3M	-3M	16M
Other Non Operating Income (Expenses)	-7.2M	-9M	-18M	-25M	-57M
EBT, Excl. Unusual Items	93.5M	148M	246M	80M	228M
Gain (Loss) On Sale Of Investments	-300K	-	-	-	-
Gain (Loss) On Sale Of Assets	3.5M	2M	2M	3M	2M
Asset Writedown	-	-19M	-	-11M	-
Insurance Settlements	-	-	-	-	-
Other Unusual Items	3M	12M	-1M	53M	53M
EBT, Incl. Unusual Items	99.7M	143M	247M	125M	283M
Income Tax Expense	19.5M	22M	33M	14M	37M
Earnings From Continuing Operations	80.2M	121M	214M	111M	246M
Net Income to Company	80.2M	121M	214M	111M	246M
Net Income - (IS)	80.2M	121M	214M	111M	246M
Net Income to Common Incl Extra Items	80.2M	121M	214M	111M	246M
Net Income to Common Excl. Extra Items	80.2M	121M	214M	111M	246M
Per Share Items
Net EPS - Basic	2.27	3.34	5.35	2.54	5.4
Basic EPS - Continuing Operations	2.27	3.34	5.35	2.54	5.4
Basic Weighted Average Shares Outstanding	35.4M	36.26M	39.99M	43.64M	45.57M
Net EPS - Diluted	2.25	3.3	5.31	2.54	5.38
Diluted EPS - Continuing Operations	2.25	3.3	5.31	2.54	5.38
Diluted Weighted Average Shares Outstanding	35.59M	36.73M	40.34M	43.8M	45.72M
Normalized Basic EPS	1.65	2.55	3.84	1.15	3.13
Normalized Diluted EPS	1.64	2.52	3.81	1.14	3.12
Dividend Per Share	0.5	0.75	1.2	0.8	1.5
Payout Ratio	11.1	14.88	13.55	46.85	15.04
Supplemental Items
EBITDA	189M	276M	420M	321M	514M
EBITA	140M	216M	343M	225M	379M
EBIT	124M	198M	326M	199M	344M
EBITDAR	199M	284M	426M	336M	529M
Effective Tax Rate - (Ratio)	19.56	15.38	13.36	11.2	13.07
Total Current Taxes	15.3M	15M	30M	30M	35M
Total Deferred Taxes	4.2M	7M	3M	-16M	2M
Normalized Net Income	58.44M	92.5M	154M	50M	142M
Interest on Long-Term Debt	3.3M	3M	5M	10M	22M
Non-Cash Pension Expense	3.5M	-	3M	2M	-
Supplemental Operating Expense Items
Net Rental Expense, Total	9.8M	8M	6M	15M	15M
Imputed Operating Lease Interest Expense	2.83M	3.05M	4.57M	13.44M	6.25M
Imputed Operating Lease Depreciation	6.97M	4.95M	1.43M	1.56M	8.75M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	45.8M	137M	340M	276M	490M
Total Cash And Short Term Investments	45.8M	137M	340M	276M	490M
Accounts Receivable, Total	107M	151M	175M	213M	399M
Other Receivables	41.2M	73M	64M	90M	120M
Total Receivables	148M	224M	239M	303M	519M
Inventory	668M	941M	938M	1.15B	1.31B
Prepaid Expenses	7.1M	9M	11M	12M	35M
Other Current Assets, Total	1.1M	4M	14M	8M	-
Total Current Assets	870M	1.32B	1.54B	1.75B	2.36B
Gross Property Plant And Equipment	985M	1.18B	1.43B	1.81B	2.62B
Accumulated Depreciation	-390M	-447M	-529M	-622M	-751M
Net Property Plant And Equipment	594M	731M	900M	1.19B	1.87B
Long-term Investments	-	-	-	-	-
Goodwill	362M	388M	387M	529M	798M
Other Intangibles, Total	103M	90M	77M	135M	249M
Deferred Tax Assets Long-Term	22.2M	17M	23M	37M	38M
Total Assets	1.95B	2.54B	2.93B	3.64B	5.31B
Liabilities
Accounts Payable, Total	373M	487M	450M	590M	726M
Accrued Expenses, Total	122M	154M	163M	208M	277M
Short-term Borrowings	122M	130M	110M	6M	47M
Current Portion of Long-Term Debt	107M	177M	86M	161M	60M
Current Portion of Leases	41.8M	41M	53M	73M	98M
Current Income Taxes Payable	16.8M	24M	21M	32M	44M
Other Current Liabilities	51.7M	131M	102M	139M	144M
Total Current Liabilities	835M	1.14B	985M	1.21B	1.4B
Long-Term Debt	245M	223M	326M	601M	1.42B
Long-Term Leases	132M	125M	114M	166M	475M
Pension & Other Post Retirement Benefits	109M	102M	102M	102M	88M
Deferred Tax Liability Non Current	44.2M	49M	57M	79M	113M
Total Liabilities	1.37B	1.64B	1.58B	2.16B	3.49B
Common Stock, Total	3.6M	4M	4M	4M	4M
Additional Paid In Capital	467M	610M	881M	924M	1.12B
Retained Earnings	87.1M	204M	384M	443M	652M
Comprehensive Income and Other	27.5M	80M	76M	109M	34M
Total Common Equity	586M	898M	1.34B	1.48B	1.81B
Total Equity	586M	898M	1.34B	1.48B	1.81B
Total Liabilities And Equity	1.95B	2.54B	2.93B	3.64B	5.31B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	35.78M	39.28M	43.66M	45.96M	62.8M
ECS Total Common Shares Outstanding	35.78M	39.28M	43.19M	43.66M	45.96M
Book Value / Share	16.36	22.86	31.14	33.9	39.47
Tangible Book Value	121M	420M	881M	816M	767M
Tangible Book Value Per Share	3.39	10.69	20.4	18.69	16.69
Total Debt	649M	696M	689M	1.01B	2.1B
Net Debt	603M	559M	349M	731M	1.61B
Debt Equivalent of Unfunded Proj. Benefit Obligation	109M	-	102M	102M	-
Debt Equivalent Oper. Leases	78.4M	64M	48M	120M	120M
Account Code - Inventory Valuation	3	5	5	5	5
Inventories - Raw Materials, Total	474M	667M	692M	840M	900M
Inventories - Work In Process, Total	128M	193M	170M	181M	226M
Inventories - Finished Goods, Total	61.5M	77M	74M	116M	178M
Inventories - Others	-	-	-	-	-
Buildings, Total	188M	254M	332M	392M	597M
Machinery, Total	602M	694M	808M	1.01B	1.31B
Full Time Employees	2K	2.11K	2.18K	2.59K	3.43K
Accumulated Allowance for Doubtful Accounts (Supple)	900K	2M	1M	1M	7M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	80.2M	121M	214M	111M	246M
Depreciation & Amortization - CF	88.7M	104M	120M	165M	242M
Amortization of Goodwill and Intangible Assets - (CF)	15.9M	18M	17M	26M	35M
Depreciation & Amortization, Total	105M	122M	137M	191M	277M
(Gain) Loss From Sale Of Asset	-3.5M	-2M	-2M	-	-
Asset Writedown & Restructuring Costs	-	0	-	12M	-
Other Operating Activities, Total	12.2M	-7M	30M	-71M	-56M
Change In Accounts Receivable	3.3M	-37M	-23M	140M	91M
Change In Inventories	-244M	-231M	4M	227M	18M
Change In Accounts Payable	141M	96M	-39M	-6M	20M
Change in Other Net Operating Assets	32.8M	83M	-44M	-35M	-79M
Cash from Operations	126M	145M	277M	569M	517M
Capital Expenditure	-139M	-179M	-295M	-264M	-200M
Sale of Property, Plant, and Equipment	3.8M	4M	5M	2M	5M
Cash Acquisitions	-48.4M	-8M	-2M	-367M	-370M
Sale (Purchase) of Intangible assets	-2.1M	-1M	-3M	-3M	-2M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-186M	-184M	-295M	-632M	-567M
Long-Term Debt Issued, Total	174M	263M	517M	563M	1.81B
Total Debt Issued	174M	263M	517M	563M	1.81B
Long-Term Debt Repaid, Total	-186M	-268M	-541M	-562M	-1.5B
Total Debt Repaid	-186M	-268M	-541M	-562M	-1.5B
Issuance of Common Stock	-	143M	270M	39M	-
Common Dividends Paid	-8.9M	-18M	-29M	-52M	-37M
Common & Preferred Stock Dividends Paid	-8.9M	-18M	-29M	-52M	-37M
Other Financing Activities, Total	-	-	-	-	-6M
Cash from Financing	-21.5M	120M	217M	-12M	272M
Foreign Exchange Rate Adjustments	5.7M	10M	4M	11M	-8M
Net Change in Cash	-75.4M	91M	203M	-64M	214M
Supplemental Items
Cash Interest Paid	20M	31M	64M	95M	95M
Cash Income Tax Paid (Refund)	8.5M	22M	17M	50M	36M
Levered Free Cash Flow	-93.65M	-76.25M	-82.5M	-50M	69.38M
Unlevered Free Cash Flow	-81.15M	-56.25M	-41.25M	9.38M	120M
Change In Net Working Capital	122M	122M	84M	39M	170M
Net Debt Issued / Repaid	-12.6M	-5M	-24M	1M	315M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	4.62	5.51	7.45	3.79	4.81
Return on Total Capital	7.16	8.75	11.23	5.5	6.72
Return On Equity %	15.13	16.31	19.08	7.86	14.94
Return on Common Equity	15.13	16.31	19.08	7.86	14.94
Margin Analysis
Gross Profit Margin %	45.69	43.14	44.46	42.24	44.7
SG&A Margin	37.02	34.77	33.5	34.3	34.37
EBITDA Margin %	7.51	7.78	10.14	6.62	8.53
EBITA Margin %	5.58	6.09	8.28	4.64	6.29
EBIT Margin %	4.95	5.58	7.87	4.1	5.71
Income From Continuing Operations Margin %	3.19	3.41	5.17	2.29	4.08
Net Income Margin %	3.19	3.41	5.17	2.29	4.08
Net Avail. For Common Margin %	3.19	3.41	5.17	2.29	4.08
Normalized Net Income Margin	2.32	2.61	3.71	1.03	2.37
Levered Free Cash Flow Margin	-3.72	-2.15	-1.99	-1.03	1.15
Unlevered Free Cash Flow Margin	-3.23	-1.58	-1	0.19	1.99
Asset Turnover
Asset Turnover	1.49	1.58	1.51	1.48	1.35
Fixed Assets Turnover	5.02	5.36	5.08	4.65	3.95
Receivables Turnover (Average Receivables)	27.43	27.62	25.42	25.01	19.69
Inventory Turnover (Average Inventory)	2.7	2.51	2.45	2.68	2.71
Short Term Liquidity
Current Ratio	1.04	1.15	1.57	1.45	1.69
Quick Ratio	0.23	0.32	0.59	0.48	0.72
Operating Cash Flow to Current Liabilities	0.15	0.13	0.28	0.47	0.37
Days Sales Outstanding (Average Receivables)	13.31	13.22	14.36	14.64	18.54
Days Outstanding Inventory (Average Inventory)	135.38	145.6	149.03	136.43	134.9
Average Days Payable Outstanding	61.92	68.54	74.41	63.12	68.76
Cash Conversion Cycle (Average Days)	86.77	90.28	88.98	87.95	84.68
Long Term Solvency
Total Debt/Equity	110.78	77.51	51.23	68.04	115.82
Total Debt / Total Capital	52.56	43.66	33.87	40.49	53.67
LT Debt/Equity	64.46	38.75	32.71	51.82	104.52
Long-Term Debt / Total Capital	30.58	21.83	21.63	30.84	48.43
Total Liabilities / Total Assets	69.99	64.66	54.08	59.31	65.82
EBIT / Interest Expense	6.22	6.19	4.94	2.09	4.25
EBITDA / Interest Expense	11.45	10	7.02	4.11	7.67
(EBITDA - Capex) / Interest Expense	4.5	4.41	2.55	1.33	5.2
Total Debt / EBITDA	2.83	2.18	1.49	2.58	3.38
Net Debt / EBITDA	2.63	1.75	0.75	1.87	2.59
Total Debt / (EBITDA - Capex)	7.21	4.94	4.1	7.99	4.99
Net Debt / (EBITDA - Capex)	6.7	3.96	2.08	5.8	3.83
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	16.72	41.11	16.74	17.09	24.2
Gross Profit, 1 Yr. Growth %	20.34	33.25	20.31	11.24	31.43
EBITDA, 1 Yr. Growth %	97.9	35.29	62.16	-23.57	60.12
EBITA, 1 Yr. Growth %	179.48	39.35	72.36	-34.4	68.44
EBIT, 1 Yr. Growth %	240.82	42.45	80.11	-38.96	72.86
Earnings From Cont. Operations, 1 Yr. Growth %	-5.83K	51.25	76.86	-48.13	121.62
Net Income, 1 Yr. Growth %	-5.83K	51.25	76.86	-48.13	121.62
Normalized Net Income, 1 Yr. Growth %	597.76	35.78	87.79	-67.48	185
Diluted EPS Before Extra, 1 Yr. Growth %	-5.56K	46.67	60.91	-52.17	111.81
Accounts Receivable, 1 Yr. Growth %	38.8	42.45	15.89	21.71	87.32
Inventory, 1 Yr. Growth %	93.88	40.66	-0.32	22.71	13.99
Net Property, Plant and Equip., 1 Yr. Growth %	45.93	23.06	23.12	31.78	57.34
Total Assets, 1 Yr. Growth %	37.98	30.24	15.27	24.17	45.92
Tangible Book Value, 1 Yr. Growth %	53.03	247.11	109.76	-7.38	-6
Common Equity, 1 Yr. Growth %	23.29	53.24	49.78	10.04	22.57
Cash From Operations, 1 Yr. Growth %	-30.64	15.08	91.03	105.42	-9.14
Capital Expenditures, 1 Yr. Growth %	146.45	28.78	64.8	-10.51	-24.24
Levered Free Cash Flow, 1 Yr. Growth %	-174.22	-8.38	-5.04	-39.39	-238.75
Unlevered Free Cash Flow, 1 Yr. Growth %	-159.18	-20.47	-38.32	-122.73	1.18K
Dividend Per Share, 1 Yr. Growth %	100	50	60	-33.33	87.5
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	10.29	28.33	28.35	16.91	20.59
Gross Profit, 2 Yr. CAGR %	10.18	26.62	26.61	15.69	20.91
EBITDA, 2 Yr. CAGR %	29.72	70.09	43.49	11.33	10.63
EBITA, 2 Yr. CAGR %	43.22	107.43	48.76	6.33	5.12
EBIT, 2 Yr. CAGR %	47.34	132.91	53.14	4.85	2.72
Earnings From Cont. Operations, 2 Yr. CAGR %	84.34	829.67	63.55	-4.22	7.22
Net Income, 2 Yr. CAGR %	84.34	829.67	63.55	-4.22	7.22
Normalized Net Income, 2 Yr. CAGR %	67.31	232.34	50.23	-21.85	-3.73
Diluted EPS Before Extra, 2 Yr. CAGR %	75.56	794.97	53.62	-12.27	0.66
Accounts Receivable, 2 Yr. CAGR %	-6.56	40.22	28.49	18.77	51
Inventory, 2 Yr. CAGR %	25.58	65.2	18.41	10.6	18.27
Net Property, Plant and Equip., 2 Yr. CAGR %	18.66	33.95	23.09	27.37	43.99
Total Assets, 2 Yr. CAGR %	13.01	34.04	22.53	19.64	34.61
Tangible Book Value, 2 Yr. CAGR %	21.72	130.28	169.83	39.39	-6.69
Common Equity, 2 Yr. CAGR %	8.46	37.51	51.5	28.38	16.13
Cash From Operations, 2 Yr. CAGR %	1.67	-10.69	48.27	98.09	36.62
Capital Expenditures, 2 Yr. CAGR %	69.64	78.15	45.68	21.44	-17.66
Levered Free Cash Flow, 2 Yr. CAGR %	22.59	-22.26	-0.44	-24.14	-8.3
Unlevered Free Cash Flow, 2 Yr. CAGR %	26.53	-35.95	-23.63	-62.56	70.56
Dividend Per Share, 2 Yr. CAGR %	-	73.21	54.92	3.28	11.8
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.58	19.73	24.35	24.48	19.29
Gross Profit, 3 Yr. CAGR %	12.6	17.38	24.48	21.27	20.71
EBITDA, 3 Yr. CAGR %	18.84	34.99	63.9	16.31	25.67
EBITA, 3 Yr. CAGR %	32.29	46.71	89.76	13.23	23.95
EBIT, 3 Yr. CAGR %	32.56	51.18	107.48	12.71	23.87
Earnings From Cont. Operations, 3 Yr. CAGR %	56.81	72.43	434.68	11.54	26.68
Net Income, 3 Yr. CAGR %	56.81	72.43	434.68	11.54	26.68
Normalized Net Income, 3 Yr. CAGR %	48.42	64.25	163.8	-9.8	20.29
Diluted EPS Before Extra, 3 Yr. CAGR %	44.87	65.35	405.13	4.12	17.69
Accounts Receivable, 3 Yr. CAGR %	8.35	7.34	31.59	26.19	38.25
Inventory, 3 Yr. CAGR %	32.05	30.45	39.6	19.83	11.72
Net Property, Plant and Equip., 3 Yr. CAGR %	30.16	20.08	30.24	25.92	36.67
Total Assets, 3 Yr. CAGR %	21.2	18.48	27.47	23.07	27.82
Tangible Book Value, 3 Yr. CAGR %	14.8	72.52	123.23	88.93	22.23
Common Equity, 3 Yr. CAGR %	12.57	21.74	41.48	36.18	26.41
Cash From Operations, 3 Yr. CAGR %	3.57	5.93	15.07	65.29	52.77
Capital Expenditures, 3 Yr. CAGR %	47.18	54.75	73.59	23.84	3.77
Levered Free Cash Flow, 3 Yr. CAGR %	39.82	6.96	-13.21	-15.62	-7.22
Unlevered Free Cash Flow, 3 Yr. CAGR %	23.51	3.53	-32.99	-49.01	21.52
Dividend Per Share, 3 Yr. CAGR %	25.99	-	68.69	16.96	25.99
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	14.01	20.45	18	18.6	22.83
Gross Profit, 5 Yr. CAGR %	14.36	20.9	18.01	16.7	23.04
EBITDA, 5 Yr. CAGR %	25.27	34.12	30.14	23.4	40.05
EBITA, 5 Yr. CAGR %	59.95	60.15	41.44	26.89	49.83
EBIT, 5 Yr. CAGR %	55.46	57.86	43.59	28.27	56.62
Earnings From Cont. Operations, 5 Yr. CAGR %	111.39	49.14	59.39	36.3	181.17
Net Income, 5 Yr. CAGR %	111.39	49.14	59.39	36.3	181.17
Normalized Net Income, 5 Yr. CAGR %	57.33	96.13	53.78	19.09	76.26
Diluted EPS Before Extra, 5 Yr. CAGR %	90.37	35.05	48.31	28.32	164.96
Accounts Receivable, 5 Yr. CAGR %	13.26	25.04	15.87	11.77	39.03
Inventory, 5 Yr. CAGR %	22.38	28.3	26.44	22.11	30.64
Net Property, Plant and Equip., 5 Yr. CAGR %	19.54	28.85	27.26	22.95	35.57
Total Assets, 5 Yr. CAGR %	20.89	26.98	21.72	18.94	30.28
Tangible Book Value, 5 Yr. CAGR %	-0.33	21.61	61.54	58.41	57.48
Common Equity, 5 Yr. CAGR %	16.85	23.76	26.79	24.35	30.74
Cash From Operations, 5 Yr. CAGR %	24.83	15.03	19.54	36.07	23.25
Capital Expenditures, 5 Yr. CAGR %	37.58	76.67	46.58	40.45	28.81
Levered Free Cash Flow, 5 Yr. CAGR %	43.14	10.53	19.21	-4.31	-11.28
Unlevered Free Cash Flow, 5 Yr. CAGR %	26.59	1.11	-0.86	-28.65	-2.63
Dividend Per Share, 5 Yr. CAGR %	-	-	36.85	-	43.1