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Acquisitions strengthen Balco Group’s customer offering

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The first quarter: January – March

  • Net sales amounted to 250 MSEK (321)
  • Order intake amounted to 263 MSEK (341)
  • Order backlog amounted to 1,128 MSEK (1,561)
  • Operating profit amounted to 22 MSEK (34)
  • Net profit after tax amounted to 16 MSEK (25)
  • Earnings per share amounted to 0.74 SEK (1.16)
  • Operating cash flow amounted to -13 MSEK (5)

Events during the first quarter and after end of the quarter

  • On April 8, Balco acquired RK Teknik AB, with net sales in 2020 of 115 MSEK and an operating profit of 10 MSEK. The acquisition strengthens and complements Balco Group’s product range and customer offering and means that City balconies will now be introduced on the Swedish market, a product segment that has so far only been sold in Denmark.
  • Covid-19 with a continued high spread of infection has affected order intake, net sales and profit in the first quarter and will continue to affect net sales and profit in the coming quarters.
 

Telephone conference

An online telephone conference will be held on 20 May 2021 at 09:00 CET at which President and CEO Kenneth Lundahl and CFO Michael Grindborn will present the report and answer questions. To participate, please call:

SE: +46 8 505 583 51
UK: +44 333 300 92 72
USA: +1 833 526 83 83

For more information, please contact:

Kenneth Lundahl, President and CEO
Tel: +46 70 630 2057

Michael Grindborn, CFO and Head of IR
Tel: +46 70 670 18 48

This disclosure contains information that Balco Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 20-05-2021 07:30 CET.

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 500 employees, is a market leader in the Nordic region, and operates on several markets in northern Europe. Sales in 2020 amounted to SEK 1,200 M. Balco’s shares are listed on the Nasdaq Stockholm Stock Exchange.

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