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Publicly owned enterprises 2017

Increased results for publicly owned enterprises

Statistical news from Statistics Sweden 2018-12-07 9.30

In 2017, municipality-owned, county council-owned and state-owned enterprises increased their net profit, compared with 2016.

Increase was largest among state-owned enterprises

State-owned enterprises’ net profit increased from SEK 9.3 billion in 2016 to SEK 36.7 billion in 2017.

The balance sheet total for state-owned enterprises amounted to SEK 1 950 billion, which was an increase of SEK 47 billion compared with 2016.

Return on equity increased by 5 percentage points, to 9.2 percent, in 2017. This was due to an increase in profit after financial items compared with the previous year. The equity ratio increased by 1 percentage point, to 25.0 percent.

Reported earnings increased for municipality-owned companies

Net profit for municipality-owned enterprises increased by SEK 4.5 billion compared with 2016. Reported net profit in 2017 was SEK 18.7 billion.

The balance sheet total for municipality-owned enterprises amounted to SEK 1 466 billion in 2017, an increase of SEK 127 billion. On the debt side, equity, provisions and short-term liabilities increased, while long-term liabilities decreased. On the asset side, both tangible assets and financial assets increased.

Return on equity increased to 7.7 percent in 2017, compared with 7.2 percent in 2016. The equity ratio increased from 21.9 percent in 2016 to 23.4 percent in 2017.

County council-owned enterprises’ earnings also increased

Net profit for county council-owned enterprises increased by SEK 69 million compared with the previous year. The net profit in 2017 was SEK 152 million.

The balance sheet total amounted to SEK 94 billion, which is an increase of SEK 4 billion compared with 2016. On the debt side, short-term liabilities increased the most. On the asset side, the largest increase was in tangible assets.

Return on equity decreased from 4.1 percent in 2016 to 1.1 percent in 2017. This was due to a decrease in profit after financial items compared with the previous year. The equity ratio decreased from 17 percent to 16.3 percent, as liabilities increased and adjusted equity remained essentially unchanged.

Definitions and explanations

Return on equity is calculated by dividing the profit after financial items with adjusted equity. Equity is equal to adjusted equity divided by total assets. Adjusted equity is equal to equity plus 72 percent of untaxed reserves.

Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.

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Statistics Sweden, Public Finance and Microsimulations Unit

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