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Strong financial position, but quarter affected by Covid-19

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The third quarter: July – September

  • Net sales amounted to 258 MSEK (292).
  • Order intake amounted to 142 MSEK (199).
  • Order backlog amounted to 1,294 MSEK (1,557).
  • Operating profit amounted to 29 MSEK (31).
  • Net profit after tax amounted to 21 MSEK (23).
  • Earnings per share amounted to 0.95 SEK (1.08).
  • Operating cash flow increased to 35 MSEK (-1).

The nine-month period: January – September

  • Net sales increased 5 percent to 931 MSEK (887).
  • Order intake amounted to 703 MSEK (997).
  • Operating profit increased 10 percent to 113 MSEK (103).
  • Net profit after tax increased 8 percent to 83 MSEK (77).
  • Earnings per share increased 7 percent to 3.82 SEK (3.58).
  • Operating cash flow increased to 125 MSEK (34).

Events during the third quarter and after end of the quarter

  • The second wave of Covid-19 with increased spread of infection in most countries and thus continued or reintroduced restrictions has strongly affected Balco's order intake negatively in the third quarter.
  • Balco evaluates various acquisition opportunities and in the light of this, the Board of Directors confirms its previous decision not to pay a dividend in 2020.

Telephone conference

An online telephone conference will be held on 12 November 2020 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 8 566 427 04
UK: +44 333 300 90 34
USA: +1 833 823 05 87 

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 12-11-2020 07:30 CET.

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

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 2019 amounted to SEK 1,221 M. Balco’s shares are listed on the Nasdaq Stockholm Stock Exchange.

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