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Addtech

Addtech

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Addtech: Interim Report 1 April - 30 June 2020

08:15 / 14 July 2020 Addtech Press release

First quarter
  • Net sales decreased by 4 percent and amounted to SEK 2,805 million (2,934).
  • Operating profit before amortisation of intangible non-current assets (EBITA) decreased by 10 percent and amounted to SEK 306 million (341) corresponding to an EBITA margin of 10.9 percent (11.6).
  • Operating profit decreased by 17 percent and amounted to SEK 243 million (292) corresponding to an operating margin of 8.7 percent (10.00).
  • Profit after tax decreased by 19 percent and amounted to SEK 184 million (226) and earnings per share before dilution amounted to SEK 2.65 (3.35). For the latest twelve month period earnings per share before dilution amounted to SEK 12.15 (10.85).
  • Return on working capital (P/WC) amounted to 54 percent (54).
  • Return on equity amounted to 29 percent (31) and the equity ratio amounted to 34 percent (35).
  • Cash flow from operating activities amounted to SEK 324 million (253). For the latest twelve month period, cash flow per share from operating activities amounted to SEK 17.70 (10.30).
  • Since the start of the financial year three acquisitions have been completed, with total annual sales of about SEK 465 million.
  • Covid-19 is estimated to have affected net sales negatively by approximately 7 percent.
  • The Board of Directors proposes a dividend of SEK 4.00 (5.00) per share.
  • The Board of Directors proposes that the number of shares in the company be increased by splitting each existing share, regardless of series, into four shares (what is referred to as 4:1 share split).

CEO's comments
The first quarter of the financial year was strongly marked by the effects of the worldwide COVID-19 pandemic, the outcome was, however, somewhat better than we had feared at the beginning of the quarter. Sales fell by 4 percent and organic sales decreased by 7 percent compared with the corresponding period last year. The EBITA margin was 10.9 percent, a decrease of only 0.7 percentage points compared with the corresponding period last year. Our companies have once again demonstrated their ability to act quickly and efficiently and have taken measures to adapt their costs to lower business volumes. For the full CEO comment, please see the Interim Report.

Stockholm, July 14, 2020

This information is information that Addtech AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below, at 8.15 a.m CET on July 14, 2020.

A conference call in English will be held on July 14 at 2.00 PM (CET).
Phone: +46 8 566 42 651. PIN: 84654209#
Webcast:https://onlinexperiences.com/Launch/QReg/ShowUUID=462159B6-97D7-407F-B5E5-EE7B565FD8D8

International phone numbers are available here: https://events-ftp.arkadin.com/ev/docs/NE_W2_TF_Events_International_Access_List.pdf

For further information, please contact:
Niklas Stenberg, President and CEO, +46 8 470 49 00
Malin Enarson, CFO, +46 705 979 473

Addtech in brief
Addtech is a technology trading group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and infrastructure. Addtech has about 3,000 employees in more than 130 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 11 billion. Addtech is listed on the Nasdaq Stockholm.

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