Ad hoc-Mitteilungen

Sdiptech AB (publ) publishes interim report for the third quarter (July - September) 2021

Press release
26 October 2021, 08:00

Sdiptech AB (publ) publishes interim report for the third quarter (July - September) 2021
The report is available on the company's website: www.sdiptech.se

INCREASED ACQUISITION GOAL, NEW MARKETS AND SOLID INCREASE OF SALES DESPITE SEVERAL UNCERTAINTIES IN THE WORLD

THIRD QUARTER 2021

  • Net sales increased by 25.3% to SEK 646.2 million (515.9). In total for the Group, organic sales growth was 3.6%, excluding currency effects.

  • Operating profit EBITA* increased by 28.6% to SEK 119.3 million (92.8), corresponding to an EBITA*margin of 18.5% (18.0). Organic EBITA* growth for the Group was -13.5%, excluding currency effects.

  • Operating profit (EBIT) increased by 18.4% and amounted to SEK 102.5 million (86.6).

  • Earnings after tax for the Group amounted to SEK 77.0 million (87.1), of which SEK 76.8 million (86.5) was attributable to the Parent Company’s shareholders. Last year's results included a capital gain of SEK 27 million from previous divestments.

  • Cash flow from current operations amounted to SEK 75.4 million (74.6), corresponding to a cash conversion of 77% (59).

  • Earnings per ordinary share (average number), less minority interests and dividends on preference shares amounted to SEK 2.07 (2.47). After dilution, earnings per shares amounted to SEK 2.05 Kr (2.44). Last year's earnings included a capital gain of SEK 0.79 per share from previous divestments.
  • On September 3, Sdiptech acquired all shares in Wake Power Distribution Ltd (IDE Systems).

  • On September 14, Sdiptech communicated annually raised acquisition targets amounting to an annual acquired profit, EBIT, of SEK 120-150 million (90).

EVENTS AFTER REPORTING DATE

  • On October 13, Sdiptech acquired 85% of the shares in Certus Technologies Holding B.V. The acquisition is the Group’s first business entity in the Netherlands.

FIRST NINE MONTHS 2021

  • Net sales increased by 32.8% to SEK 1,969.8 million (1,483.7). In total for the Group, organic sales growth was 8.4%, excluding currency effects.

  • Operating profit EBITA* increased by 44.4% to SEK 355.9 million (246.4), corresponding to an EBITA* margin of 18.1% (16.6). Organic EBITA* growth for the Group was -4.5%, excluding currency effects.

  • Operating profit (EBIT) increased by 20.7% and amounted to SEK 281.7 million (233.4). Included in the operating profit are high acquisition costs for major acquisitions in the UK and associated stamp duty. In addition, capital loss related to divestments amounted SEK 20 million.

  • Earnings after tax for the Group amounted to SEK 199.9 million (177.3), of which SEK 199.2 million (175.4) was attributable to the Parent Company’s shareholders.

  • Cash flow from current operations amounted to SEK 141.9 million (296.5), corresponding to a cash conversion of 50% (99). Due to high profits and postponements of tax in 2020, more tax was paid than normal during the period. In addition, an increased amount of accounts receivables due to good sales and inventory was built to prevent material shortage.

  • Earnings per ordinary share (average number), less minority interests and dividends on preference shares amounted to SEK 5.40 (5.20). After dilution, earnings per shares amounted to SEK 5.35 Kr (5.16). Last year's earnings included a capital gain of SEK 0.84 per share from previous divestments.
  • During the period January to September, Sdiptech acquired Rolec Services Ltd, One Stop Europe (Rolec), Ficon Oy and Wake Power Distribution Ltd (IDE Systems).
  • During the first nine months, divestments of Tello Service Partner as well as the Swedish and Austrian elevator businesses were completed. All units belonged to the Property Technical Services segment.

  • On March 9, Sdiptech carried out a directed share issue that contributed approx. SEK 464 million to equity after issuance costs.

COMMENTS BY THE CEO

INCREASED ACQUISITION GOAL, NEW MARKETS AND SOLID INCREASE OF SALES DESPITE SEVERAL UNCERTAINTIES IN THE WORLD

Jakob Holm
President and CEO

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