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Two acquisitions in Finland contribute positively

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The first quarter: January – March

  • Net sales amounted to 326 MSEK (326)

  • Order intake increased by 44 percent to 352 MSEK (245)

  • Order backlog increased by 12 percent to 1,392 MSEK (1,241)

  • Adjusted operating profit (EBITA) amounted to 16 MSEK (28)

  • Operating profit (EBITA) amounted to 13 MSEK (23)

  • Net profit after tax amounted to 2 MSEK (14)

  • Earnings per share amounted to 0.10 SEK (0.63)

  • Operating cash flow amounted to 18 MSEK (-11)

Events during the quarter and since the end of the quarter

  • January 22 Balco Group acquired the Finnish group Riikku Group Oy with a turnover of approximately 40 MEUR. This is Balco Group’s largest acquisition to date.

  • March 6 Balco Group acquired the Finnish company Suomen ohutlevyasennus Oy with a turnover of approximately 11 MEUR.

  • Another major project has been obtained in Norway where heat pumps are integrated into the balcony solution, value approximately 65 MNOK.

"Balco Group has acquired the Finnish companies Riikku Group Oy and Suomen ohutlevyasennus Oy with a total turnover of approx. 50 MEUR. Through these acquisitions, we take a leading market position in Finland, where we were previously weaker than in the other Nordic markets. The acquisitions are in line with our long-term strategy to be the leading balcony supplier in the Nordics."

- Camilla Ekdahl, President and CEO

Web conference

A webcast conference call will be held at 14:00 CET April 29, 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/q1-2024/

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

SE: +46 8 5050 0829

PIN: 879 6427 2591#

Calendar 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
Annual Report 2024                         March 14, 2025
Interim report Jan-Mar 2025            April 28, 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). The information was submitted for publication, through the agency of the contact person, on 29-04-2024 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 a leading player in the balcony industry, focused on providing innovative, patented and energy-efficient solutions for multi-dwelling buildings. The company's tailored products contribute to increasing the quality of life, safety and value of homes. Through a decentralized and efficient sales process, Balco Group has full control over its value chain from production to delivery. Founded in 1987 in Växjö, the company now employs approximately 700 people and is a market leader in Scandinavia with operations in several markets in Northern Europe. The company's revenue for 2023 was 1,215 MSEK, and it is listed on the Nasdaq Stockholm.

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