EX-12.1 5 d707362dex121.htm EX-12.1

EX-12.1

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(amounts in millions of SEK)

Year		2013				2014				2015				2016				2017
Pre-tax profit before profit or loss for all associated/ JV companies (equity investees)			17228				15867				19910				3995				-39354
Fixed charges:
Interest expense			1412				1376				1428				1355				1027
Interest part of leases/ rentals (note 1/3 rule)			839				887				1150				1237				1398
Total fixed charges			2251				2263				2578				2592				2425
Dividends from all associated/ JV companies			128				249				92				84				77
Pre-tax profit before profit or loss for all associated/ JV companies (equity investees) plus fixed charges plus dividends received			19607				18379				22580				6671				-36852
Ratio of earnings to fixed charges			8.7				8.1				8.8				2.6				—