Strong growth and 76% higher operating profit

First Quarter | Jan–March 2022

• Net sales amounted to TSEK 99,305 (74,203),
• which is an increase by 33.8 % compared to the same period last year.
• The gross margin amounted to 59.0 % (55.6).
• Operating profit before depreciation and amortization (EBITDA) amounted to TSEK 28,551 (17,955), which corresponds to an operating margin before depreciation and amortization of 28.8 % (24.2).
• Operating profit (EBIT) amounted to TSEK 19,856 (11,296), which corresponds to an operating margin of 20.0 % (15.2).
• Earnings per share before dilution amounted to SEK 1.48 (0.82).

(Comparative figures in parentheses refer to the corresponding period in the previous year.)

Comments from the CEO

Strong growth with increasing profitability continues

We start the year strong with a first quarter that shows organic growth of 34 % and continued high profitability. Compared to last year, operating profit increased by 76 % and amounts to MSEK 20, which means an operating margin of 20 %. Gross margin amounts to 59 % for the quarter, which is also an increase compared to the previous year.

Growth in installations increased by almost 42 %, as inventory levels for the quarter are normal, this can be seen as a better comparative figure due to last year’s higher inventory build-up. We thus complement the growth in sales with growth in installations to understand the company’s development better.

Norway continues to show a fantastic development, with as much as 167 % in organic growth and 213 % in installations. Both sales and installations are similar to Sweden’s development in 2019. We see a continued stable Sweden with an increase in installations by 23 %, which is expected to increase with the launch of new product categories, as the current “puck series” has been on the market for over 5 years. Finland and the Netherlands are also starting the year strong. These are two markets both waiting for product customizations that are important to be able to increase the growth rate.

On the development front, we focus on the system’s functions to handle both more extensive system and commercial installations. With a range of features and products targeting at the commercial market in the next few years, we also expect strong growth in that segment in the future. In 2022, we also aim to show one of our new product categories.

The team delivered a great first quarter, with strong growth and growing profitability, according to our defined path.

For further information

Phone: +46 (0) 10 207 89 01

E-mail: investor@plejd.com

About the company

Plejd is a leading Nordic supplier of smart lighting controls. By focusing on the user experience, smart lighting controls are made easy and available to everyone.