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Year-end report 1 April 2020 - 31 March 2021

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Fourth quarter (1 January - 31 March 2021)

  • Net sales amounted to SEK 2,927 million (3,038).
  • Operating profit before amortisation of intangible non-current assets (EBITA) amounted to SEK 335 million (407) corresponding to an EBITA margin of 11.4 percent (13.4).
  • Operating profit amounted to SEK 266 million (352) corresponding to an operating margin of 9.1 percent (11.6).
  • Profit after tax amounted to SEK 190 million (265) and earnings per share before/after dilution amounted to SEK 0.65 (0.95).

Full year (1 April 2020 - 31 March 2021)

  • Net sales amounted to SEK 11,336 million (11,735).
  • Operating profit before amortisation of intangible non-current assets (EBITA) amounted to SEK 1,251 million (1,364) corresponding to an EBITA margin of 11.0 percent (11.6).
  • Operating profit amounted to SEK 989 million (1,161) corresponding to an operating margin of 8.7 percent (9.9).
  • Profit after tax amounted to SEK 729 million (873) and earnings per share before/after dilution amounted to SEK 2.60 (3.20).
  • Return on working capital (P/WC) amounted to 52 percent (56).
  • Return on equity amounted to 23 percent (32) and the equity ratio amounted to 35 percent (36).
  • Cash flow from operating activities amounted to SEK 1,503 million (1,117). Cash flow per share from operating activities amounted to SEK 5.60 (4.15).
  • During the year, we have completed 14 acquisitions and closed another four after the end of the year. In total, this equals approximately SEK 1,450 million in annual sales.
  • The Board of Directors proposes a dividend of SEK 1.20 (1.00) per share.

CEO´s comments

“In many ways, the 2020/2021 financial year was extraordinary, mainly due to the effects of the Covid-19 pandemic. On the whole, we can assert that Addtech demonstrated a favourable resilience and, given the high pace of business and good cost control, we managed to maintain a respectable operating margin. Despite the uncertainty, we also carried out 14 successful acquisitions in attractive niche areas. All of this combined, again shows the strength and stability of our long-term business model. Following two years strongly influenced by external factors, during which our employees truly demonstrated their capacity to identify new opportunities and adapt quickly to new circumstances, we now look ahead to a new year. Better equipped than ever and with a good order backlog”, concludes Niklas Stenberg, CEO of Addtech.

We are continuing our development towards the new normal, where sustainable technology solutions and digitalisation are increasingly coming into focus. We are very well positioned to take advantage of the growth opportunities in selected segments and niches in structurally driven development areas. By balancing organic growth and acquisitions with good cost control, we will continue to be a catalyst for sustainable growth. This year, it will be 20 years since Addtech was spun off as an independent listed company. Our average annual earnings growth has been 18 percent, demonstrating our ability to deliver long-term sustainable growth and favourable returns for shareholders. For us as a group, we have formulated a new vision to act as a guiding light for our continued successful growth – Leading technical solutions for a sustainable tomorrow. This vision provides inspiration for the entire group, while of course we continue to safeguard our strongly entrepreneurial culture based on decentralised responsibility.

For the full CEO comment, please see the Year-end report.

Stockholm, May 18, 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 May 18, 2021.

A phone conference and webcast will be arranged in relation to the report, at 10.00 a.m.
Phone: +46 856 642 651  PIN: 39261603#
Webcast: https://onlinexperiences.com/Launch/QReg/ShowUUID=62B48E91-80BF-40A5-BCA4-8BADC06D997D

International phone numbers are available here: https://event.sharefile.com/share/view/s84220495bb4b47b2abfff950788bcd35

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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