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Elanders AB: Quarterly Report January – June 2022
First six months 2022
Net sales increased to MSEK 6,897 (5,504), which corresponded to organic growth of three percent, excluding acquisitions and using unchanged exchange rates. Strong organic growth in the newly acquired Bergen Logistics in USA resulted in high double-digit growth figures.
EBITA increased to MSEK 450 (287) but contained some one-off items that had a positive effect of about net MSEK 40. Most of this came from a revaluation of shares in associated companies in connection with a merger. Excluding one-off items, the EBITA margin was 6.0 (5.2) percent and the result improved by 43 percent.
The result before tax increased to MSEK 335 (213), which was an improvement of 38 percent, excluding one-off items.
The net result increased to MSEK 231 (154), corresponding to SEK 6.32 (4.29) per share.
Operating cash flow for the period increased to MSEK 487 (367), of which purchase price for acquisitions was MSEK 0 (-46).
Second quarter 2022
Net sales increased to MSEK 3,525 (2,769), which corresponded to organic growth of four percent, excluding acquisitions and using unchanged exchange rates. Strong organic growth in the newly acquired Bergen Logistics continued in USA resulting in high double-digit growth figures.
EBITA increased to MSEK 264 (145), but contained some one-off items that had a positive effect of about net MSEK 40. Most of this came from a revaluation of shares in associated companies in connection with a merger. Excluding one-off items, the EBITA margin was 6.3 (5.2) percent and the result improved by 54 percent.
Component shortages, due to the zero-tolerance policy in China concerning COVID-19 and the war in Ukraine, led to disruptions in production for several of the Group’s major customers. High material and fuel prices also had a negative effect on the Group’s profitability.
The result before tax increased to MSEK 206 (110), which was an improvement of 51 percent, excluding one-off items.
The net result increased to MSEK 143 (86), corresponding to SEK 3.91 (2.38) per share.
Operating cash flow was MSEK 187 (260), of which acquisitions were MSEK 0 (0).
An agreement has been signed with a new customer in online print with estimated annual sales of approximately MSEK 100.
On July 1, 2022, Elanders signed a contract to acquire all the shares in the British company Bonds Worldwide Express Ltd. Annual net sales in the company are around MGBP 5 and the purchase price corresponded to this amount.
Further information can be found on Elanders' website www.elanders.com or requested via e-mail info@elanders.com.
Questions concerning this report can be addressed to:
Magnus Nilsson
President and CEO
Phone: +46 31 750 07 50
Andréas Wikner
Chief Financial Officer
Phone: +46 31 750 07 50
Elanders AB (publ)
(Company ID 556008-1621)
Flöjelbergsgatan 1 C
431 35 Mölndal, Sweden
Phone: +46 31 750 00 00
This information is information that Elanders AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 07:30 CET on 12 July 2022.
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