* Q4 2022: Solid performance
* Financial highlights Q4 2022
*
* 10% net sales increase
* 18% organic sales increase*
* 9.8% operating margin
* 10% adjusted operating margin*
*
*
* Full year 2023 indications
* Around 15% organic sales growth
* Around 1% negative FX effect on net sales
* Around 8.5-9.0% adjusted operating margin
* Around
* Key business developments in the fourth quarter of 2022
Profitability improved significantly, driven by successful execution of price increases, cost reductions and volume growth. Operating income improved by 32% and operating margin improved to 9.8% from 8.2% with adjusted operating margin* improving to 10.0%, despite continued adverse market conditions, including raw material cost increases, broad inflationary pressure and volatile LVP. Return on capital employed increased by 5.4pp to 24.3%.
Operating cash flow improved from
*For non-
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