Strong revenue growth and cash flow at the same time as a cost-cutting program is launched

Mon, Oct 31, 2022 13:00 CET

Third quarter: July – September

Net sales increased by 28 percent to 311 MSEK (243)
Order intake amounted to 265 MSEK (306)
Order backlog amounted to 1,461 MSEK (1,460)
Operating profit amounted to 16 MSEK (24)
Adjusted operating profit amounted to 17 MSEK (25)
Net profit after tax amounted to 11 MSEK (18)
Earnings per share amounted to 0.48 SEK (0.80)
Operating cash flow improved to 104 MSEK (25)

The nine-month period: January – September

Net sales increased by 19 percent to 950 MSEK (797)
Order intake amounted to 921 MSEK (1 075)
Operating profit amounted to 69 MSEK (80)
Adjusted operating profit amounted to 71 MSEK (81)
Net profit after tax amounted to 50 MSEK (60)
Earnings per share amounted to 2.39 SEK (2.76)
Operating cash flow improved to 122 MSEK (-30)

Events during the quarter and since the end of the quarter

On October 25, Balco acquired Söderåsens Mur och Kakel AB, with turnover in the latest financial year of 53 MSEK. The acquisition complements the group's other facade companies geographically, as Söderåsen works mainly in southern Sweden and will strengthen the group's offer regarding turnkey contracting and green transformation.

A cost saving program of 20 MSEK will be implemented to strengthen profitability.

Telephone conference

An online telephone conference will be held on 31 October 2022 at 14:30 CET at which acting CEO Camilla Ekdahl and CFO Michael Grindborn will present the report and answer questions. To participate, please call:

SE: +46 8 505 583 50
UK: +44 333 300 0804 UK PIN: 52441942#
USA: +1 646 722 4957

Calendar 2022/2023

Year-end report Jan-Dec 2022               6 February 2023
Interim report Jan-Mar 2023 24 April 2023
Annual General Meeting 2023               9 May 2023
Interim report Jan-Jun 2023 14 July 2023
Interim report Jan-Sep 2023 30 October 2023
Year-end report Jan-Dec 2023               5 February 2024

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 31-10-2022 13:00 CET.

For more information, please contact:

Camilla Ekdahl, Acting 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 is a balcony company with façade competence 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 appr. 500 employees, is a market leader in Scandinavia, and operates on several markets in northern Europe. Sales in 2021 amounted to SEK 1,120 M. Balco’s shares are listed on the Nasdaq Stockholm Stock Exchange.