The outcome for the third quarter was on the whole in line with our expectations. Sales were 1 percent higher than in the preceding year and we experienced a recovery in demand from the lower levels we endured in the first half of the year. In interpreting the development of the market situation in the third quarter, the outcome should be adjusted both for the cyber attack suffered in the preceding year and the sharp decline in sales of scrubber related products. In addition there was still a certain negative impact from COVID-19, as well as positive contributions from acquisitions. Combined, this means that the underlying operations experienced favourable market development for the first quarter this year.
Our companies' capacity to adapt quickly to the prevailing situation and to benefit from business opportunities is impressive, to say the least. Despite reduced business volumes in segments with good margins, negative currency effects and some non-recurring expenses, we achieved an EBITA margin of 10.6 percent. This confirms that we have had good control of our expenses and that our efforts to adjust our operating expenses to lower business volumes continued to have the desired effect. Our acquired companies also experienced favourable earnings. For the full CEO comment, please see the Interim Report.
Stockholm, February 4, 2021
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 February 4, 2021.
A phone conference and webcast will be arranged in relation to the report, at 2.00 p.m.
Phone: +46 856 642 651 PIN: 30834904#
International phone numbers are available here: https://event.sharefile.com/d-s7bae1d9235d495a8
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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