The company said net earnings last year were EUR 393m ($537m), against EUR 344m in 2012.
Revenue dipped to EUR 4.65bn from EUR 4.72bn, however.
CEO Bjorn Rosengren said performance was impacted by the continued uncertainty in the global economy.
"Due to unfavorable exchange rates and some delayed deliveries, the net sales development was slightly weaker than expected. However, profitability remained resilient despite the lower level of sales," he added.
But
