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Addtech

Addtech

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Addtech: Interim Report 1 April - 30 June 2021

08:15 / 16 July 2021 Addtech Press release

First quarter
  • Net sales increased by 17 percent and amounted to SEK 3,279 million (2,805).
  • Operating profit before amortisation of intangible non-current assets (EBITA) increased by 31 percent and amounted to SEK 402 million (306) corresponding to an EBITA margin of 12.3 percent (10.9).
  • Operating profit increased by 37 percent and amounted to SEK 332 million (243) corresponding to an operating margin of 10.1 percent (8.7).
  • Profit after tax increased by 36 percent and amounted to SEK 250 million (184) and earnings per share before/after dilution amounted to SEK 0.90 (0.65). For the latest twelve month period period earnings per share before/after dilution amounted to SEK 2.85 (3.00).
  • Return on working capital (P/WC) amounted to 56 percent (54).
  • Return on equity amounted to 24 percent (29) and the equity ratio amounted to 35 percent (34).
  • Cash flow from operating activities amounted to SEK 208 million (324). For the latest twelve month period, cash flow per share from operating activities amounted to SEK 5.15 (4.40).
  • Since the start of the financial year eight acquisitions have been completed, of which four after the end of the period, with total annual sales of about SEK 565 million.

CEO's comments

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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