Strong cash flow and increased profitability
Fourth quarter highlights
- Revenue decreased by -6.8 per cent to MSEK 2,538 (2,723). Organic growth was -7.5 per cent.
-
Gross margin increased to 43.4 per
cent (41.4) . -
Adjusted EBITA increased by 3 per cent to MSEK 308 (298), corresponding to an adjusted EBITA margin of 12.1 per
cent (10.9) . -
Operating profit increased to MSEK 278 (268) and the operating margin was 11.0 per
cent (9.8) . Operating profit was charged with items affecting comparability of MSEK -16 (-15). - Profit amounted to MSEK 192 (194).
-
Earnings per share amounted to
SEK 3.76 2 (3.822). - Cash flow from operating activities increased to MSEK 526 (417).
Full year 2023 highlights
- Revenue increased by 1.3 per cent to MSEK 9,335 (9,211). Organic growth was -1.4 per cent.
-
Gross margin increased to 41.4 per
cent (40.5) . -
Adjusted EBITA increased by 9 per cent to MSEK 827 (756), corresponding to an adjusted EBITA margin of 8.9 per
cent (8.2) . -
Operating profit increased to MSEK 748 (669) and the operating margin was 8.0 per
cent (7.3) . Operating profit was charged with items affecting comparability of MSEK -20 (-24). -
Profit from continuing operations amounted to MSEK 497 (481) and profit from discontinued operations to MSEK 0 (281). The impact on earnings of the distribution of
Momentum Group was MSEK 0 (3,553) and total profit from the Group amounted to MSEK 497 (4,062). -
Earnings per share from continuing operations amounted to
SEK 9.76 2 (9.512) and earnings per share from discontinued operations amounted toSEK 0.00 2 (0.551,2). The impact on earnings of the distribution ofMomentum Group wasSEK 0.00 2 (70.382) per share and earnings per share for the Group as a whole amounted toSEK 9.76 2 (80.442). - Cash flow from operating activities increased to MSEK 993 (507).
-
The Board of Directors proposes a dividend for 2023 of
SEK 3.50 per share (3.00).
1) Adjusted for the impact on earnings of the distribution of
2) Before and after dilution.
DISCONTINUED OPERATIONS
Comments from the CEO
"Despite a weaker market during the fourth quarter, we have continued to increase profitability and strengthen our cash flow."
"On 1 December,
"We see great potential in increasing our operational efficiency and strengthening our offering and position, including through the acquisition of profitable companies that are aligned with our growth strategy."
"We have a strong balance sheet and a common, scalable platform, so we are properly equipped to handle the changes in the world around us and the market situation. We can adapt when we need to by further adjusting costs, but we are also ready to hit the accelerator as soon as the market changes."
Significant events during the fourth quarter
Alligo signed an agreement to acquire 100 per cent of the shares in Tore Vagle AS. The company has operations in Sandnes,Norway and sells tools and industrial components. The acquisition was completed inJanuary 2024 .Alligo signed agreements to acquire 100 per cent of the shares in Svets och Tillbehör iSverige AB and Svetspartner i Malmö AB. The companies have operations in Ystad and Malmö respectively and have a broad offering within welding and grinding and related service business. The acquisitions were completed inJanuary 2024 .Alligo joined the Science Based Targets initiative (SBTi).Alligo decided to streamline its concept brands in the Nordic region. The stores inSweden were brought together under theSwedol concept brand and inNorway andFinland under the Tools concept brand.
Events after the end of the period
Alligo completed the acquisitions of Tore Vagle AS, Svets och Tillbehör iSverige AB and Svetspartner i Malmö AB.
Presentation of the year-end report 2023
In conjunction with this,
President & CEO Clein Johansson Ullenvik and CFO
Date and time: Friday Feb 16, 2024, at
Telephone conference:https://register.vevent.com/register/BI61efb90f3e28453a81e9b2f7e82792f4
Participants need to register in advance of the conference call using the link above. Upon registering, each participant will be provided with Participant Dial-In Number, and a unique Personal PIN.
Contact information:
Clein Ullenvik, President & CEO
Tel +46 8 712 00 00
ir@alligo.com
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