The latest statistical report from Statistics Sweden (SCB) highlights a positive trend in the profitability of the country’s business sector during the first quarter of 2023.
According to the data compiled by SCB, the total operating profit (before depreciation and amortization) in the business sector increased by 6.1 percent compared to the same period last year. Notably, operating income saw a growth of 11.7 percent, while operating costs (excluding personnel expenses) rose by 13.3 percent. Personnel costs also experienced a moderate increase of 7.9 percent.
However, despite these gains, the operating margin, which represents the percentage of revenue remaining after covering expenses like depreciation, interest, tax, and profit, decreased during the first quarter when compared to the corresponding period in the previous year.
Sebastian Rask, a statistician at SCB, explained the findings, stating, “Although the operating margin has declined as a proportion of income, the operating profit in kronor has increased. This growth can be attributed to higher income levels and a relatively slower increase in personnel costs.”
The report provides an overview of the operating profit in the business sector for different quarters. It shows that operating income for the first quarter of 2023 reached SEK 2.854 billion, marking an 11.7 percent increase compared to the previous year. The operating costs, excluding depreciation, amortization, and personnel expenses, amounted to SEK 2.112 billion, reflecting a growth of 13.3 percent. Meanwhile, personnel expenses rose to SEK 479 billion, a 7.9 percent increase.
SCB conducts this survey as a comprehensive analysis of companies included in the target population. The data is collected through an electronic questionnaire distributed to around 400 large and influential companies. For other companies, information from VAT and employer declarations is utilized. The survey provides valuable insights into the operating profit of Sweden’s business sector, enabling a better understanding of the performance and trends in various segments of the economy.
As SCB continues to refine and expand its statistical methodology, the full report for the first quarter of 2023, titled “Ekonomisk statistik på kvartal” (Economic Statistics for the Quarter), is expected to be published on the official SCB website (scb.se/NV0124).