Strong order intake and continued sales growth
The fourth quarter: October – December
- Net sales of SEK 304.2 (283.7) million, an increase of 7.3 percent or SEK 20.5 million.
- Order intake of SEK 305.0 (296.4) million, an increase of 2.9 percent
- Order backlog increased by SEK 0.8 million to SEK 1,203.5 million at the end of the quarter
- Operating profit of SEK 27.0 (26.3) million, an increase of 2.8 percent. Adjusted operating profit was SEK 41.6 (37.4) million, an increase of 11.0 percent
- Net profit after tax of SEK 19.0 (20.0) million, an decrease of SEK 1.0 million.
- Earnings per ordinary share of SEK 0.86 (1.09), before and after dilution.
- Operating cash flow of SEK 29.5 (138.4) million.
- Adjustment to the new accounting standards in accordance with IFRS 15 has resulted in a reduction of sales for the quarter by SEK 4.4 million and a reduction of operating profit by SEK 1.7 million. Comparative figures have not been restated.
The full year 2018: January – December
- Net sales of SEK 1,058.1 (989.0) million, an increase of 7.0 percent or SEK 69.1 million.
- Order intake of SEK 1,003.1 (1,113.5) million, a decrease of 9.9 percent.
- Order backlog decreased by SEK 34.8 million, equivalent to 2.8 percent.
- Operating profit of SEK 105.6 (92.3) million, an increase of 14.4 percent. Adjusted operating profit was SEK 120.2 (116.7) million, an increase of 3.0 percent
- Net profit after tax of SEK 76.8 (37.7) million, an increase of 104 percent.
- Earnings per ordinary share of SEK 3.67 (2.43) before and after dilution.
- Operating cash flow of SEK 49.9 (182.9) million.
- Adjustment to the new accounting standards in accordance with IFRS 15 resulted in a reduction of SEK 21.8 million in sales and SEK 9.4 million in operating profit. Comparative figures have not been restated.
- The Board proposes to the 2019 annual general meeting that a dividend of SEK 2.00 per share be paid in respect of the 2018 financial year.
Events during the fourth quarter and after end of the quarter
- Balco acquired and became the vested owner of all shares in TBO-Haglinds AB at the end of the fourth quarter. The acquired company has annual sales of approximately SEK 130 million and it is expected to make a positive contribution of SEK 0.50 in earnings per share in 2019. TBO-Haglinds AB has not affected Balco's order intake, sales or earnings in 2018.
A conference call will be held today, 22 February, 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 8 519 993 83 or
- UK: +44 333 300 92 73
- US: +1 646 722 49 57
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, email@example.com
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 2018 amounted to SEK 1,058 M. Balco’s shares are listed on the Nasdaq Stockholm Stock Exchange.