Stronger result than anticipated for ADDvise Group during the second quarter 2020 - Regulatory information
The preliminary result for ADDvise Group during the second quarter 2020 will be substantially better than what ADDvise Group considers the market to expect and in comparison with last year. The net sales for the second quarter are expected to be approximately 101 MSEK (92.5), corresponding to an organic increase of approximately 10 % compared to the same period last year. EBITDA for the period is expected to approximately 15 MSEK (7.2). The EBT, earnings before tax, for the second quarter is expected to approximately 9 SMEK (-0.2).
A strong order intake at the beginning of the year, of mainly medical equipment and consumables has contributed to the positive development of the result. Equipment used in the diagnosis and treatment of patients with COVID-19 has dominated the increase in sales during the second quarter. Actions taken with regard to cost savings have also affected the result during the second quarter. ADDvise are not conducting any sales of products related to Covid-19 on the American market. The products sold in ADDvise’s American businesses are mainly used in scheduled procedures at hospitals. Since the healthcare in many of the states in America are at a critical stage, primarily focusing on Covid-19 patients, scheduled procedures which are essential for ADDvise’s sales do not take place.
- The second quarter is our best quarter so far, despite still having great challenges in our American businesses. I hope that America will enter a calmer phase in the end of Q3 and that we thereafter can return to more normal volumes in our American companies, says Rikard Akhtarzand, CEO, ADDvise Group AB.
All figures in this press release are preliminary and unaudited. The final report for the second quarter of 2020 will be published on 24 July 2020. ADDvise Group AB will not provide further comments or details until after the full report has been published.
For further information, please contact:
Rikard Akhtarzand, CEO
+46 765-25 90 71
This information is by ADDvise Group AB required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on 15 July 2020 at 16:40 CEST.
About ADDvise Group
ADDvise Group AB (publ) is a leading supplier of equipment to healthcare and research facilities. The group consists of approximately 10 subsidiaries organized into two business areas, Lab and Healthcare. Sales are global. The Group has a clear acquisition strategy with the aim of raising shareholder value and expand the business – both geographically and product wise. ADDvise Group’s shares are listed on Nasdaq First North Growth Market and Mangold Fondkommission AB, +46 8 503 015 50, CA@mangold.se, is the Company's Certified Adviser. Additional information is available at www.addvisegroup.com.