Summary of interim period, January -
· Net sales SEK 630 million (570)
· EBITA was
· Operating profit was
· Profit after net financial items
· Earnings per share before dilution
· Cash flow from operating activities
Summary of interim period, April -
· Net sales SEK 321 million (291)
· EBITA was
· Operating profit was
· Profit after net financial items
· Earnings per share before dilution
· Cash flow from operating activities
· Acquisition of
CEO's comments
Operations remained almost completely intact during the second quarter. However, there are some significant differences in how work is carried out: no travel, work at home has totally dominated and many employees have developed red ears from all the hours spent wearing headphones during countless video meetings with customers and colleagues.
We have held about 40 video meetings for Group management during the quarter to monitor the situation, coordinate internal information, plan for difficult events and, as far as possible, to support the managers of the Group. We have been spared from severe cases of COVID-19 and sick leave has been low.
Because of the pandemic, we have concentrated on liquidity, further increased our focus on restraint with costs and postponed planned recruitments into the future. Some internal events were also canceled - for obvious reasons. Cash flow has also been unusually strong, in part because of the steps and measures we have taken within the business, and in part because we have taken advantage of the option to temporarily defer certain tax payments during the coronavirus outbreak.
Earnings for the quarter are strong. The lack of travel expenses and general tax relief measures have contributed equally to produce a positive impact on earnings of about
We have been able to complete two acquisitions during the quarter, almost completely without any physical meetings. Activities in the transaction market fell at first, but increased once again as summer approached.
Our financial position is solid and we are well prepared for future acquisitions and for continued acquisition-based growth. Supported by our acquisition of well-established companies and a high and increasing percentage of recurring revenues,
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