Continued progress but weaker demand in Europe for the quarter
Polygon AB (publ) - Interim report 1 January - 30 June 2019
Second QUARTER 2019
- Sales grew 7.3% to EUR 157.8 million, organic growth amounted to 0.3% and acquired growth contributed 7%. Organic growth slowed in the quarter due to weaker demand in Europe overall compared to the strong second quarter of 2018 and fewer working days in the quarter.
- Adjusted EBITA amounted to EUR 8.3 million, a decrease of 7.8% compared to last year. The quarter was affected by a negative business mix with fewer cases of water damage and Major & Complex Claims compared to 2018.
- On 1 April, Polygon Netherland acquired VanWaarde group, with annual sales of EUR 1.8 million.
- Polygon acquired The Plastic Surgeon Holding Ltd in the UK on 10 May, with annual sales of EUR 15 million.
- On 3 June, Polygon acquired Tehokuivaus Oy in Finland, with annual sales of EUR 7 million.
- Polygon signed an agreement at the end of June to acquire the shares of Nettag AG, a water and fire damage restoration company based in Switzerland. The acquisition will add sales of about EUR 4.5 million and is expected to close in August.
JANUARY - JUNE 2019
- Sales growth for the period was 7.6% and turnover amounted to EUR 317.8 million. Organic growth was 1.9% and acquired growth amounted to 5.6%.
- Adjusted EBITA amounted to EUR 18.3 million, down by 2.1%. This reflects a negative business mix and continued investments in the organisation to ensure future organic growth.
- During the first half of the year, Polygon made six acquisitions, including Nettag in Switzerland, with combined sales of approximately EUR 40 million.
Polygon is a Global Expert and the European market leader in Property Damage Control. On 3 continents and in 14 countries, our 4.300 specialists prevent, control and mitigate the effects of water, fire and climate. Our innovative and tailor-made solutions combine people, knowledge and technology for a wide range of customer segments.