High growth and significantly improved profitability
- Total revenue for the quarter amounted to
SEK 886(669) million, an increase of 32.5%*.
- Organic growth was 6.7%. Adjusted for currency effects, organic growth was 5.1%.
- EBITA amounted to
SEK 61(15 million. This corresponds to an increase of 318 (-) percent.
- The EBITA margin amounts to
SEK6.9(2.2) percent. This corresponds to an increase of 4.7 percentage points. With these results, the financial objective of an EBITA margin of at least 8% has been achieved, based on the last 12-month period.
- Cash flow from operating activities amounted to
SEK 78(37) million.
- Basic earnings per share were
- Diluted earnings per share were
* 30.6%, excluding currency effects.
The Group got off to a good start this year. Sales are up sharply, as are earnings, which are driven by improvements in our existing companies as well as the performance of profitable new companies that have joined the Group. An important part of the Group’s efforts is to put in place the right preconditions for the success of our businesses and entrepreneurs. I am proud to report that our strategy is bearing fruit.
Strong growth with improved margin
We continue to grow strongly and total revenue increased by 32.5% for
Basic earnings per share were
Our improved profitability in the first quarter means that we now have a trailing 12-month EBITA margin of 8.2 (5.5)% and have thus met our financial target of an EBITA margin of at least 8.0. %. The debt ratio (measured in net debt/EBITDA pro forma RTM) is 2.3 (2.9) times. The growth rate for the last 12 months was 40%, compared to the growth target of 10%.
Over the past three years, our compound annual growth rate (CAGR) has been 34% for sales and 123% for EBITA.
Our business is affected by rising input costs and we are actively working to limit the effect of cost increases. Many of the Group’s contracts extend over many years and contain indexation clauses to adjust prices. Other project activities are carried out under contracts lasting less than one year, which allows them to be adapted if necessary to rising costs. The situation is being carefully monitored and the CEOs of our subsidiaries are proactively working on it.
New acquisitions strengthen our position
The Group acquired four new companies during the first quarter (their estimated annual turnover is shown in brackets): Markbygg Anläggning Väst AB (
The potential market for potential companies that could become part of the Group is high and we constantly come across exciting companies. Interest in the Group is growing and we note that our offer to entrepreneurs is attractive. We have a long-term approach and believe in the power of local entrepreneurship, which is why we ensure that there is a good cultural fit between the Group and the companies we acquire. During the acquisition process, we therefore attach great importance to getting to know the new entrepreneurs well.
Local entrepreneurship is fundamental to our strategy and our success
The Group now has 42 subsidiaries in
As a group, we also work in a structured way to make the most of the expertise that exists in local subsidiaries and support them in their development. We do this, for example, by using business development/LEAN methods and various initiatives associated with digitization.
I am proud of what we have accomplished so far in our journey to consolidate the Nordic floor care and landscaping market. I consider the results of the last quarter as proof that our strategy is both viable and solid.
Presentation of the report:
Telephone: SE: +46850558369
This disclosure contains information that
For more information:
Johan Nordström, CEO,
+46 70 838 58 12, [email protected]
+46 70 108 70 19, [email protected]
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