INTERIM REPORT FOR THE PERIOD FROM 1 APRIL TO 30 JUNE 2019
Zengun Group AB started its operations on 24 May 2019 when the company acquired all of the shares in Zengun Group Holding AB (Corp. Reg. No. 559050-0699) and its wholly owned subsidiaries from Segulah Fund V. Financial information for the former group (Zengun Group Holding AB) has been included as a basis for comparison.
ZENGUN GROUP AB (PUBL)
24 MAY 2019 – 30 JUN 2019
- Net turnover amounted to MSEK 203.2.
- EBITDA totalled MSEK 7.5.
SIGNIFICANT EVENTS IN THE SECOND QUARTER
- Zengun’s founders, other owners and senior executives bought out Segulah Fund V in May.
- The acquisition was financed through issuing bonds for MSEK 450, together with a non-cash share issue. The bond was listed on Nasdaq Stockholm as of 9 July.
SIGNIFICANT EVENTS AFTER THE SECOND QUARTER
- At an Extraordinary General Meeting on 22 August, Jan Örnevik was appointed as the company’s new Chairman of the Board and Cecilia Safaee as a new Board member.
ZENGUN GROUP HOLDING AB (former group)
- Net turnover amounted to MSEK 598.4 (541.8), up 10% or MSEK 56.6.
- EBITDA totalled MSEK 24.0 (32.8). Earnings were burdened by a negative margin adjustment of MSEK 13.0 attributable to one project.
- Operating cash flow was MSEK 124.0 (13.2).
- Net turnover amounted to MSEK 1,183.7 (1,014.1), up 17% or MSEK 169.6.
- EBITDA totalled MSEK 50.1 (63.6).
- Operating cash flow was MSEK 175.1 (negative: 21.6).
FOR MORE INFORMATION:
Managing Director and CEO
+46 70 580 04 15
Anna-Carin Bjelkeby, CFO
+46 70 580 62 25
Prior to publication, this information constituted insider information. This information is of such a kind that Zengun Group AB (publ) is legally required to disclose pursuant to the EU’s Market Abuse Regulation. This information was submitted through the agency of the above contacts for publication on 29 August 2019 at 7:30 a.m. (CEST).
Zengun is one of the leading construction contractors in Stockholm and carries out construction projects on behalf of well-known customers in the real estate industry. While the main focus is on commercial properties, the portfolio also includes residential projects and projects in the public sector. Zengun is a complete supplier and partner, with a customer-centric approach that comprises a cornerstone of its business concept. The company has approximately 200 employees and annual turnover of just over SEK 2 billion.