Alternative performance measures
The Group uses a number of alternative performance measures in its report. The alternative performance measures that BE Group considers significant are the following:
Underlying operating result (uEBIT)
| (SEK M) | (MSEK) | 2021 | 2020 |
| Operating result | Rörelseresultat | 621 | 39 |
| Reversal of inventory gains (-)/losses (+) | Återläggning lagervinster (-)/förluster (+) | -92 | 17 |
| Adjustment for items affecting comparability | Justering för jämförelsestörande poster | – | 40 |
| Group | Koncernen | 529 | 96 |
Working capital
| (SEK M) | (MSEK) | 2021 | 2020 |
| Inventories | Varulager | 1,033 | 501 |
| Accounts receivables | Kundfordringar | 653 | 376 |
| Other receivables | Övriga rörelsefordringar | 39 | 42 |
| Deduction accounts payables | Avdrag leverantörsskulder | -641 | -414 |
| Deduction other current liabilities | Avdrag övriga kortfristiga skulder | -229 | -162 |
| Rounding | Avrundning | 1 | – |
| Group | Koncernen | 856 | 343 |
Average working capital is an average for each period based on quarterly data.
Net debt excl. IFRS 16
| (SEK M) | (MSEK) | 2021 | 2020 |
| Non-current interest-bearing liabilities and leasing liabilities | Långfristiga räntebärande skulder och leasingskulder | 681 | 778 |
| Current interest-bearing liabilities and leasing liabilities | Kortfristiga räntebärande skulder och leasingskulder | 95 | 85 |
| Deduction leasing liabilities | Avdrag leasingskulder | -481 | -541 |
| Deduction financial assets | Avdrag finansiella anläggningstillgångar | 0 | 0 |
| Deduction cash and equivalents | Avdrag likvida medel | -54 | -166 |
| Rounding | Avrundning | – | – |
| Group | Koncernen | 241 | 156 |
Net debt/equity ratio excl. IFRS 16 is calculated as net debt excl. IFRS 16 divided by equity.
Capital employed excl. IFRS 16
| (SEK M) | (MSEK) | 2021 | 2020 |
| Equity excl. IFRS 16 | Eget kapital exkl. IFRS 16 | 1,420 | 912 |
| Non-current interest bearing liabilities and leasing liabilities | Långfristiga räntebärande skulder och leasingskulder | 681 | 778 |
| Current interest bearing liabilities and leasing liabilities | Kortfristiga räntebärande skulder och leasingskulder | 95 | 85 |
| Deduction leasing liabilities | Avdrag leasingskulder | -481 | -541 |
| Rounding | Avrundning | 1 | – |
| Group | Koncernen | 1,716 | 1,234 |
Average capital employed excl. IFRS 16 is an average for each period based on quarterly data.