Interim Financial Report January – March 2019
The first quarter of 2019 turned out slightly better than expected and we can see that the activities we have undertaken to create a better underlying profitability are starting to pay off. Compared to last year, LEAX Group revenue grew with 7% and EBITDA increased with 21% (excluding effects from IFRS 16).
The outlook for the year looks stable and we are following the demands from our customers closely to be able to react if we see changes.
Highlights of the first quarter of 2019
- Net Sales amounted to SEK 505,6 million (473,2)
- Adjusted operating profit before depreciation (Adjusted EBITDA) increased to SEK 47,5 million (39,4)
- Earnings before tax (EBT) increased to SEK 19,0 million (13,2)*
- Profit margin before tax (EBT%) amounted to 3,7%, (2,8%)*
- Cash flow from operating activities amounted to SEK 28,2 million (13,8)*
- Net income for the period increased to SEK 17,6 million (10,3)*
* 2019 has been affected by IFRS 16 Leases, while 2018 is unchanged and not restated.
Henrik Fagrenius, President & CEO
Telephone: +46 (0) 221 346 89
The information was submitted for publication, through the agency of the contact person set out above, on May 8, 2019 at 08:30 CEST.
LEAX Group is the parent company of a group (“LEAX Group”) with about 1,300 employees. LEAX Group has operations in Köping, Falun, Falköping and Tidaholm in Sweden, Riga and Rezekne in Latvia, Curitiba in Brazil, Detmold in Germany, Mezökövesd in Hungary and Wuxi in China. LEAX Group is a manufacturer of mechanical components and subsystems for the heavy vehicle industry, passenger cars, mining and construction industries and other engineering industries. LEAX Group also delivers customized gearboxes for various mechanical engineering industries. LEAX Group’s sales for 2018 amounted to approx. 1.8 billion SEK.