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Interim Report Q2 1 April - 30 September 2021

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Second quarter (1 July - 30 September 2021)

  • Net sales increased by 20 percent and amounted to SEK 3,257 million (2,723).
  • Operating profit before amortisation of intangible non-current assets (EBITA) increased by 39 percent and amounted to SEK 425 million (306) corresponding to an EBITA margin of 13.1 percent (11.2). 
  • Operating profit increased by 45 percent and amounted to SEK 351 million (242) corresponding to an operating margin of 10.8 percent (8.9).
  • Profit after tax increased by 45 percent and amounted to SEK 263 million (181) and earnings per share before/after dilution amounted to SEK 0.95 (0.65).

Period (1 April - 30 September 2021)

  • Net sales increased by 18 percent and amounted to SEK 6,536 million (5,528). 
  • Operating profit before amortisation of intangible non-current assets (EBITA) increased by 35 percent and amounted to SEK 827 million (612) corresponding to an EBITA margin of 12.7 percent (11.1). 
  • Operating profit increased by 41 percent and amounted to SEK 683 million (485) corresponding to an operating margin of 10.4 percent (8.8).
  • Profit after tax increased by 40 percent and amounted to SEK 513 million (365) and earnings per share before/after dilution amounted to SEK 1.85 (1.30). For the latest twelve month period earnings per share before/after dilution amounted to SEK 3.15 (2.80).
  • Return on working capital (P/WC) amounted to 61 percent (51).
  • Return on equity amounted to 26 percent (26) and the equity ratio amounted to 32 percent (32).
  • Cash flow from operating activities amounted to SEK 435 million (567). For the latest twelve month period, cash flow per share from operating activities amounted to SEK 5.10 (4.35).
  • Since the start of the financial year eleven acquisitions have been completed, of which two after the end of the period, with total annual sales of about SEK 840 million. 

CEO´s comments
We experienced very strong underlying demand in the second quarter, with good growth in all business areas resulting in an organic increase in sales of 10 percent. The shortage of components has been handled in exemplary manner by our companies and is judged to have had only a limited impact on the Group’s overall capacity to deliver to customers during the period. The market situation, combined with continued good cost control and well-handled price increases from suppliers gave record high margins and gave an EBITA growth of 39 percent for the quarter.

It is very satisfying to see our business model demonstrate its strength. Our entrepreneurial companies, which operate in close proximity to the market and maintain strong relationships with suppliers, have again shown their resilience, continuing to foster optimum conditions for sustained profitable growth, concludes Niklas Stenberg, CEO.

For the full CEO comment, please see the Interim Report.

Stockholm, October 28, 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 October 28, 2021.

A phone conference and webcast will be arranged in relation to the report, at 10.00 a.m.
For participation in the conference:
Phone
Sweden: +46 856618467
UK/International: +44 2071 928338 (toll-free)
United States: +1 6467413167  
PIN: 3891939
Webcast: https://edge.media-server.com/mmc/p/y2o53cbd

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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