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Continued expansion and a strong underlying growth

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The second quarter: April – June

  • Net sales of SEK 273.6 (268.4) million, an increase of 1.9 percent or SEK 5.2 million. The increase was entirely organic.
  • Order intake of SEK 299.4 (394.8) million, a decrease of 24.1 percent
  • Order backlog increased by SEK 28.8 million to SEK 1 308.8 million
  • Operating profit of SEK 31.5 (30.8) million), an increase of 2.3 percent. Adjustment to IFRS 15 reduced operating profit by SEK 3.7 million.
  • Net profit after tax of SEK 23.1 (12.4) million, an increase of 87 percent.
  • Earnings per ordinary share of SEK 1.05 (0.91), before and after dilution.
  • Operating cash flow of SEK 12.9 (42.5) million.
  • Adjustment to the new accounting standards in accordance with IFRS 15 has resulted in a reduction of sales for the quarter by SEK 9 million. Comparative figures have not been restated.

The half-year period January – June

  • Net sales of SEK 516.1 (499.2) million, an increase of 3.4 percent or SEK 16.9 million. The increase was entirely organic.
  • Order intake of SEK 570.7 (614.9) million, a decrease of 7.2 percent.
  • Order backlog increased by SEK 70.4 million, equivalent to 13.4 percent more than sales for the period.
  • Operating profit of SEK 53.5 (53.9) million, a decrease of 0.7 percent. Adjustment to IFRS 15 reduced operating profit by SEK 7.4 million.
  • Net profit after tax of SEK 38.7 (19.6) million, an increase of 97 percent.
  • Earnings per ordinary share of SEK 1.92 (1.38) before and after dilution.
  • Operating cash flow of SEK -10.1 (34.4) million.
  • Adjustment to the new accounting standards in accordance with IFRS 15 resulted in a reduction of SEK 16 million in sales for the quarter. Comparative figures have not been restated.

Events during the second quarter and after end of the quarter

  • Balco has during the second quarter signed an order in Stockholm valued at approximately SEK 100 million. Project start will take place once the customer has been granted planning permission.
  • After the end of the quarter, Balco has prolonged the banking agreement and the agreement is now valid until September 2021.

Conference call

A conference call will be held today, 24 August, at 09:00 CET, at which President and CEO Kenneth Lundahl and CFO Fredrik Hall will present the report and answer questions. To participate, please call one of the following numbers:

  • SE: +46 8 566 427 01 or
  • UK: +44 203 008 98 02 
  • US: +1 855 753 22 37 

For more information, please contact: 
Kenneth Lundahl, President and CEO, +46 70-630 20 57
Fredrik Hall, CFO, +46 70-392 77 30
Cecilia Lannebo, IR Manager, + 46 72-220 82 77, cecilia.lannebo@balco.se

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 300 employees, is a market leader in the Nordic region, and operates on several markets in northern Europe. Sales in 2017 amounted to SEK 989 M. Balco’s shares are listed on the Nasdaq Stockholm Stock Exchange.

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