The market was very strong during the first quarter and the organic increase in sales amounted to 11 percent. A combination of continued high acquisition rate, good cost control and our companies having handled price increases from suppliers well has resulted in earnings growth of 31 percent with favourable margins. As a result of the strong market situation, all business areas enjoyed good development over the quarter, even when taking generally favourable comparisons into account. A very good start to the new year, concludes Niklas Stenberg, CEO.
Our decentralised model, where the companies' drive and proximity to customers and suppliers is absolutely crucial, and the fact that we hold very good positions in structurally driven areas of development, make me feel highly confident that Addtech will continue to generate profitable growth over the rest of the financial year. For the full CEO comment, please see the Interim Report.
Stockholm, July 16, 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 July 16, 2021.
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 technical solutions 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 140 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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