Record quarter with sales above
July – September
- Net sales amounted to
SEK 401 (305) million, an increase of 31.2 percent and an organic* increase of 12.2 percent.
- Operating profit amounted to
SEK 97 (68) million and adjusted* toSEK 102 (71) million.
- The operating margin was 24.2 percent (22.3) and adjusted to 25.5 percent (23.1).
- EBITA* amounted to
SEK 104 (71) million, and adjusted toSEK 110 (73) million.
- The EBITA margin* amounted to 26.0 percent (23.1) and adjusted to 27.3 percent (23.9).
- Profit after tax amounted to
SEK 65 (53) million.
- Earnings per share were
SEK 0.99 (0.81) before andSEK 0.98 (0.81) after dilution.
- Cash flow from operating activities increased to
SEK 97 (89) million.
- Net cash* as of
September 30 wasSEK 135 (61) million.
January – September
- Net sales amounted to
SEK 1,182 (890) million, an increase of 32.7 percent and an organic* increase of 16.0 percent.
- Operating profit amounted to
SEK 286 (210) million and adjusted* toSEK 301 (213) million.
- The operating margin was 24.2 percent (23.6) and adjusted to 25.5 percent (23.9).
- EBITA* amounted to
SEK 307 (217) million, and adjusted toSEK 323 (220) million.
- The EBITA margin* amounted to 26.0 percent (24.4) and adjusted to 27.3 percent (24.7).
- Profit after tax amounted to
SEK 194 (159) million.
- Earnings per share were
SEK 2.94 (2.44) before andSEK 2.93 (2.44) after dilution.
- Cash flow from operating activities decreased to
SEK 242 (249) million.
- On
March 14 , the Board decided on new financial goals: 12 percent organic growth and a 25 percent EBITA margin, both averaging over three years.
- A dividend of
SEK 1.55 per share was paid for a total amount ofSEK 102 million in May.
Message from the CEO
For the third quarter of the year, we achieved a new record for net sales of
One important factor to why we are growing faster than the market is that we conduct our business in a customer-focused and proactive manner. This gives us the conditions to meet the rapid changes that our customers and we ourselves must constantly deal with. Risk management is constantly high on our agenda. We are looking at both how we can tackle the acute impact of events in the world around us and the long-term consequences they can have. The prevailing energy crisis and inflationary pressure are affecting our current costs and continue to preasen operational challenges. We work in a disciplined, smart and methodical way with everything we have control over in order to continue to meet our customers’ needs. So far, we have been able to manage supply chain challenges well, thanks to a strong team and a solid effort. However, our ability to meet customers’ needs despite disruptions in the supply chain has a direct impact on both costs and increased tied-up capital.
All three of our customer focus areas show strong growth compared to the same period last year: White Tech with customers in research, development and manufacturing of pharmaceuticals and vaccines, Red Tech with a focus on diagnostic companies and clinical, forensic and doping laboratories, and Blue & Green Tech with a focus on environmental, water and food laboratories. Overall, our organic growth in the third quarter of the year was 12.2%. We grew double digits for the eighth consecutive quarter, and organic growth for the entire period from January to September was 16.0%.
Broken down by geographical markets, I am pleased to report that
To better serve the
If we look at our various product areas, Biologics & Advanced Therapeutics stood out with sales growth of 70.7% (34.9% organic growth) driven by sales in the
Large-scale vaccine production that was rapidly expanded to meet new needs as a result of the COVID-19 mass vaccinations brought
Our solutions also contribute to reducing customers’ use of solvents and thereby to production that takes greater care of the environment. At our own manufacturing unit in
To summarize, we have had a formidable journey so far this year, despite a turbulent world, an inflation crisis and supply chain pressures. We continued to defend our gross margin and also showed strong cash flow in the third quarter of the year. It is difficult to predict the future in this rapidly changing world, but I can still confirm that
Uppsala,
President and CEO
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