WEAKER EARNINGS THAN THE PREVIOUS YEAR. ACQUISITION STREGHTENING THE POSITION IN THE USA.
“In the second quarter, 2023, EBITA amounted to SEK 110 m (154). The weaker earnings were primarily due to lower net sales in Design Management division and restructuring measures to increase the profitability of Product Lifecycle Management division. The Process Management division reported somewhat better earnings than the previous year.”
Johan Andersson
President and CEO
SECOND QUARTER SUMMARY, APRIL–JUNE 2023
- Net sales increased by 4 per cent to SEK 1,554 m (1,489), of which 1 per cent was organic. Currency-adjusted organic growth was -3 per cent.
- EBITA decreased to SEK 110 m (154), and the EBITA margin was 7.1 per cent (10.3). EBITA has been charged with restructuring costs of SEK 10 m (-). EBITA adjusted for restructuring costs amounted to SEK 120 m (154), and the adjusted EBITA margin was 7.7 per cent (10.3).
- Operating profit decreased to SEK 56 m (101), and the operating margin was 3.6 per cent (6.8).
- Profit for the period amounted to SEK 34 m (70).
- Earnings per share amounted to SEK 0.25 (0.52).
- Cash flow from operating activities amounted to SEK 127 m (122).
- In June 2023, Addnode Group signed an agreement to acquire Team D3 of the USA, with net sales of approx. SEK 1,300 m. The acquisition was completed in early July 2023.
- Credit line increased by SEK 1,000 m to a total of SEK 2,600 m. SEK 1,600 m revolving credit facility extended by one year to June 2026.
- Supported by AGM authorisation, the Board of Directors decided to repurchase a maximum of 180,000 class B shares.
- Petra Ålund was elected as a new Director by the AGM on 4 May 2023.
SUMMARY OF SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD
- No significant events have occurred since the end of the period.
