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Strong cash flow and financial position, despite Covid-19

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The fourth quarter: October – December

  • Net sales amounted to 269 MSEK (333).
  • Order intake amounted to 230 MSEK (352).
  • Order backlog amounted to 1,087 MSEK (1,522).
  • Operating profit amounted to 3 MSEK (38).
  • Adjusted operating profit amounted to 22 MSEK (38). 
  • Net profit after tax amounted to -5 MSEK (26).
  • Earnings per share amounted to -0.23 SEK (1.21).
  • Operating cash flow amounted to 71 MSEK (100).

The full year 2020: January – December

  • Net sales amounted to 1,200 MSEK (1,221).
  • Order intake amounted to 933 MSEK (1,349).
  • Operating profit amounted to 115 MSEK (140).
  • Adjusted operating profit amounted to 135 MSEK (140). 
  • Net profit after tax amounted to 78 MSEK (103).
  • Earnings per share amounted to 3.58 SEK (4.79).
  • Operating cash flow increased to 196 MSEK (134).

Events during the fourth quarter and after end of the quarter

  • On February 10, Balco acquired Stora Fasad AB, with net sales in 2020 of 30 MSEK and an operating profit of 5 MSEK. The acquisition adds expertise in the facade area and will strengthen Balco Group's offer for turnkey contracts for both balcony and facade renovation.
  • Covid-19, with a continued high spread of infection in most countries, affected order intake, net sales and earnings in the fourth quarter and will continue to do so in the coming quarters. Costs affecting comparability of 19 MSEK were taken in the quarter in connection with increased risk exposure with Covid-19. No grants or other support linked to Covid-19 were received in 2020.
  • The Board does not propose a dividend to the Annual General Meeting as the company has reduced occupancy during the first half of the year and laid off staff starting in January. At the same time, the Board is open for an Extraordinary General Meeting later in 2021 for a new dividend decision.

Telephone conference

An online telephone conference will be held on 18 February 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 66
UK: +44 333 300 92 73
USA: +1 833 526 83 98

For more information, please contact:

Kenneth Lundahl, President and CEO
Tel: +46 70 630 20 57

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 18-02-2021 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 400 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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