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Interim Report Q2 1 April - 30 September 2023

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Second quarter (1 July - 30 September 2023)

  • Net sales increased by 10 percent and amounted to SEK 4,879 million (4,418).
  • Operating profit before amortisation of intangible non-current assets (EBITA) increased by 25 percent and amounted to SEK 727 million (582) corresponding to an EBITA margin of 14.9 percent (13.2). 
  • Operating profit increased by 27 percent and amounted to SEK 618 million (489) corresponding to an operating margin of 12.7 percent (11.1).
  • Profit after tax increased by 23 percent and amounted to SEK 447 million (362) and earnings per share before/after dilution amounted to SEK 1.60 (1.30).

Period (1 April - 30 September 2023)

  • Net sales increased by 13 percent and amounted to SEK 9,968 million (8,794). 
  • Operating profit before amortisation of intangible non-current assets (EBITA) increased by 23 percent and amounted to SEK 1,423 million (1,152) corresponding to an EBITA margin of 14.3 percent (13.1). 
  • Operating profit increased by 25 percent and amounted to SEK 1,213 million (971) corresponding to an operating margin of 12.2 percent (11.0).
  • Profit after tax increased by 19 percent and amounted to SEK 839 million (706) and earnings per share before/after dilution amounted to SEK 3.00 (2.50). For the latest twelve month period earnings per share before dilution amounted to SEK 6.05 (4.65) and after dilution to SEK 6.05 (4.60).
  • Return on working capital (P/WC) amounted to 67 percent (66).
  • Return on equity amounted to 31 percent (31) and the equity ratio amounted to 36 percent (32).
  • Cash flow from operating activities amounted to SEK 1,150 million (524). For the latest twelve month period, cash flow per share from operating activities amounted to SEK 9.40 (4.50).
  • Since the start of the financial year six acquisitions have been completed, with total annual sales of about SEK 465 million. After the end of the period another acquisition agreement was signed.  

CEO´s comments
Customer activity levels remained at a high level in our companies. All business areas contributed to a total increase in sales of 10 percent, of which 1 percentage point was organic, mainly related to lower organic sales growth for the quarter in the Energy business area. Higher added value, combined with a favourable product mix and good acquisition outcomes, gave growth in EBITA of 25 percent with a very strong EBITA margin of 14.9 percent (13.2). Given tough comparison figures and a challenging environment, it is satisfying that our decentralised business model, with its market proximity, again demonstrated its strength.

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

Stockholm, 26 October 2023

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 26 October 2023.

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 8 505 10030
UK/International: +44 1 212 818004
United States: +1 718 7058796
Webcast: https://edge.media-server.com/mmc/p/83gnqiu2/

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 3,900 employees in more than 150 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 18 billion. Addtech is listed on Nasdaq Stockholm.

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