Significant events during quarter 4, 2023
- On 3 October, the acquisition of
Box Modul AB was completed. In connection with this, a directed share issue of 1 293 046 shares to the seller ofBox Modul AB was decided. - On 19 December it was announced that Daniel Hopstadius resigns as CEO of
W5 Solutions AB (publ) for personal reasons. Board memberErik Heilborn was appointed interim CEO.
Other important events during quarter 4, 2023
- W5 Solutions’ most recently acquired company,
Box Modul AB , received an order worth MSEK 10 from aNATO country.
Significant events after the end of the period
- In
January 2024 , it was announced that Evelina Hedskog will take office as the new President and CEO starting on1 March 2024 .
FINANCIAL OVERVIEW | ||||
MSEK | 2023 Oct–Dec | 2022 Oct–Dec | 2023 Jan–Dec | 2022 Jan–Dec |
Income | 130.9 | 78.4 | 395.3 | 179.7 |
EBITDA | 11.4 | 9.3 | 56.0 | 24.4 |
EBITDA margin, % | 8.7 | 11.8 | 14.2 | 13.6 |
EBITA | 8.6 | 8.4 | 47.1 | 21.2 |
EBITA margin, % | 6.5 | 10.7 | 11.9 | 11.8 |
Net profit for the period | -7.9 | 5.3 | -1.0 | 13.7 |
Earnings per share, SEK | -0.54 | 0.42 | -0.1 | 1.13 |
Cash flow from op. activities | 61.1 | -33.4 | 89.4 | -40.9 |
Orders received | 82 | 80 | 248 | 208 |
Order book | 199 | 192 | 199 | 192 |
OCTOBER–DECEMBER 2023
• Operating income for the quarter amounted to MSEK 130.9 (78.4), an increase of 67%.
• Profit, EBITA, for the quarter amounted to MSEK 8.6 (8.4), an increase of 2%.
• Cash flow from operating activities amounted to MSEK 61.1 (-33.4).
• Orders received during the period amounted to MSEK 82 (80) with an order book at the end of the period of MSEK 199 (192).
JANUARY–DECEMBER 2023
• Operating income for the financial year 2023 amounted to MSEK 395.3 (179.7), equivalent to an increase of 120%.
• Profit, EBITA, for the financial year 2023 amounted to MSEK 47.1 (21.2), which is equivalent to an increase of 122%.
• Cash flow from operating activities amounted to MSEK 89.4 (-40.9).
• Orders received during the period amounted to MSEK 248 (208) with an order book at the end of the period of MSEK 199 (192).
Comment from
The geopolitical situation continues to be marked by tensions and uncertainty. Our mission to deliver products and solutions to our customers for enhanced security has never felt more relevant.
Despite a slightly weaker order intake in the fourth quarter, we assess that market demand remains strong. Several prominent business decisions are expected from our customers in several of our product areas during the next six months. The development over time, given the geopolitical situation with continued defence efforts both in the Nordic region and
After an acquisition-intensive 2023 with the new acquisitions of ArcQor, Kongsberg Target Systems and Box Modul, there is reason to work on consolidating these holdings in 2024 to find the right market synergies and industrial coordination.
By acquiring ArcQor in the first quarter, W5 became a complete supplier of power solutions, from battery charging and battery analysis to diesel-driven power supplies. This, supplemented by a recent investment decision to start our own battery production, makes us a turnkey provider of power supply solutions. With the acquisition of Kongsberg Target Systems, completed in the second quarter, W5 took another step towards its position as a complete supplier in the Live-Fire segment as well as in the area of target equipment and live-fire training facilities.
Along with our simulation and integration business, these areas come together in the acquisition of Box Modul, which was completed in the fourth quarter. Box Modul manufactures mobile shelters, such as staff, repair and charging shelters. As a result of this acquisition, the mobility dimension is added to our total offering, and W5 can thus deliver complete solutions integrated into virtually all of our product areas.
This will allow us to deliver even larger composite solutions within several of our product and solution areas. We see this as a new platform for growth in the coming years.
Finally, I would like to thank the employees at W5 for the dedicated work that has been carried out during the quarter and is done every day. It is impressive to see the dedication that permeates the atmosphere in the company. When I, as Interim CEO, soon hand over the reins to our new President and CEO,
Interim CEO,
The Year-end report is available for download at: https://w5solutions.com/investor-relations/
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