Strengthened financial position and solid earnings and profit growth
Fourth quarter: October-December 2017
- Net sales amounted to SEK 283.7 (237.7) million, an increase of 19.3 percent or SEK 46 million. The increase was entirely organic.
- Operating profit (EBIT) was SEK 26.3 (15.4) million, an increase of 70.3 percent. The result in the quarter includes costs for the IPO of SEK 11.2 million. Operating profit adjusted for items affecting comparability was SEK 37.4 (32.9) million, corresponding to an adjusted operating margin of 13.2 (13.8) percent.
- Net profit after tax was SEK 20.0 (3.7) million.
- Earnings per share, before and after dilution were SEK 1.09 (0.14).
- Operating cash flow amounted to SEK 138.4 (38.7) million.
Full year: January-December 2017
- Net sales amounted to SEK 989.0 (801.6) million, an increase of 23.4 percent or SEK 187.4 million. The increase was entirely organic.
- Operating profit (EBIT) was SEK 92.3 (63.6) million, an increase of 45.2 percent or SEK 28.7 million, while adjusted operating profit was SEK 116.7 (82.4) million, an increase of SEK 34.3 million, corresponding to an adjusted operating margin of 11.8 (10.3) percent.
- Net profit after tax for the year was SEK 37.7 (12.1) million.
- Earnings per share for the year, before and after dilution were SEK 2.43 (0.50).
- Operating cash flow amounted to SEK 182.9 (73.4) million.
- The order backlog increased 12 percent and amounted to SEK 1,238.4 (1,107.2) million at the end of the year.
- The Board proposes that the 2018 AGM approve a dividend of SEK 1.00 per share for the 2017 financial year.
Events in the fourth quarter
- Balco was listed on Nasdaq Stockholm on 6 October 2017.
- An extraordinary general meeting decided to establish a long-term incentive program for senior executives and key employees.
- Planning permission has been granted for Balco’s historically largest order (approx. SEK 160 million).
- An order has been signed for the delivery of balconies to yet another cruise ship; the order value is SEK 60.2 million.
A conference call will be held today, 23 February, at 09:00 CET, at which President and CEO Kenneth Lundahl and CFO Fredrik Hall will present the report and answer questions. To participate, please call one of the following numbers:
- SE: +46 8 566 426 63 or
- UK: +44 203 008 98 02
- US: +1 855 753 22 36
For more information, please contact:
Kenneth Lundahl, President and CEO, +46 70-630 20 57
Fredrik Hall, CFO, +46 70-392 77 30
Cecilia Lannebo, IR Manager, + 46 72-220 82 77, email@example.com
Balco is a growth company offering high quality, innovative, patented and energy-saving balcony solutions. The company’s customised products contribute to enhanced quality of life, security and an increase in value for residents of multi-family residential properties. Through a decentralized and efficient sales process, Balco has control over the entire value chain – from production to delivery. The company, which was founded in Växjö in 1987 and which has over 300 employees, is a market leader in the Nordic region, and operates on several markets in northern Europe. Sales in 2017 amounted to SEK 989 M. Balco’s shares are listed on the Nasdaq Stockholm Stock Exchange.