Increased order intake and Balco Group’s largest acquisition

Mon, Feb 05, 2024 13:00 CET

The fourth quarter: October – December

Net sales amounted to 290 MSEK (383)
Order intake increased by 57 percent to 295 MSEK (188)
Order backlog amounted to 1,074 MSEK (1,275)
Adjusted operating profit (EBITA) amounted to 15 MSEK (34)
Operating profit (EBITA) amounted to 10 MSEK (34)
Operating profit (EBIT) amounted to 8 MSEK (33)
Net profit after tax amounted to 7 MSEK (26)
Earnings per share amounted to 0.30 SEK (1.19)
Operating cash flow amounted to 6 MSEK (78)

The full year: January– December

Net sales amounted to 1,215 MSEK (1,334)
Order intake amounted to 977 MSEK (1,109)
Adjusted operating profit (EBITA) amounted to
90 MSEK (107)
Operating profit (EBITA) amounted to 77 MSEK (105)
Operating profit (EBIT) amounted to 70 MSEK (102)
Net profit after tax amounted to 47 MSEK (76)
Earnings per share amounted to 2.12 SEK (3.48)
Operating cash flow amounted to 4 MSEK (200)

Events during the quarter and since the end of the quarter

January 22 Balco Group acquired the Finnish group Riikku Group with a turnover of approximately 40 MEUR. This is Balco Group’s largest acquisition to date.
The Board does not propose a dividend to the Annual General Meeting in order to finance the recently completed strategic acquisition.

" Order intake during the quarter was significantly better than the corresponding period last year. As inflation has continued to decline and long-term interest rates are beginning to fall, we see an increased interest among customers to invest. "

" Balco Group has acquired the Finnish group Riikku Group with a turnover of approximately 40 MEUR, which is the largest acquisition in Balco Group's history. "

- Camilla Ekdahl, President and CEO

Web conference

A webcast conference call will be held at 14:00 CET February 5, 2024, where CEO and President Camilla Ekdahl and CFO Michael Grindborn will present the report and answer questions.

To follow the webcast presentation and send written questions, please use this link:

https://www.finwire.tv/webcast/balcogroup/year-end-report-2023/

To participate via teleconference and be able to ask questions, call in:

SE: +46 8 5050 0829

PIN: 826 6372 5363#

Calendar 2024

Interim report Jan-Mar 2024 April 29, 2024
Annual General Meeting 2024 May 14, 2024
Interim report Jan-Jun 2024 July 12, 2024
Interim report Jan-Sep 2024 October 28, 2024
Year-end report Jan-Dec 2024 February 10, 2025

This disclosure contains information that Balco Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 05-02-2024 13:00 CET.

For more information, please contact:

Camilla Ekdahl, President and CEO
Tel: +46 70 606 30 32
camilla.ekdahl@balco.se

Michael Grindborn, CFO and Head of IR
Tel: +46 70 670 18 48
michael.grindborn@balco.se

Balco Group is the market leader in the balcony industry where we develop, manufacture, sell and are responsible for the installation of self-made open and glazed balcony systems. The group's customized products contribute to increased quality of life, safety and to an increase in value for the residents of apartment buildings, in addition, Balco Group's standardized glazing generates reduced energy consumption The company, which was founded in Växjö in 1987 and which has approximately 700 employees, is a market leader in the Nordics, and operates on several markets in northern Europe. Sales in 2023 amounted to 1,215 MSEK. Balco’s shares are listed on the Nasdaq Stockholm Stock Exchange.