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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Bravida Holding AB (publ)    BRAV   SE0007491303

BRAVIDA HOLDING AB (PUBL)

(BRAV)
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Bravida : Board of Directors reintroduces previously withdrawn proposal for dividend and intends to convene an Extraordinary General Meeting

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09/17/2020 | 02:31am EDT

On April 8, 2020, Bravida's Board of Directors decided to withdraw its proposal to the Annual General Meeting to decide on a dividend of SEK 2.25 per share due to uncertainties in the market linked to the Covid-19 pandemic. In connection with the withdrawal, the Board stated that the Board's ambition was to convene an Extraordinary General Meeting in the autumn of 2020 and propose, if external factors allowed, the dividend again.

The Board has now evaluated Bravida's development in recent months, including the company's financial results and the general market outlook, with the conclusion that Bravida's financial position remains strong. The Board has therefore decided to reintroduce the previously withdrawn proposal for a dividend of SEK 2.25 per share and to convene an Extraordinary General Meeting which is expected to be held at the end of October 2020 to decide on the dividend. In connection with this Extraordinary General Meeting, the Board will also propose that the Meeting resolves to adopt the long-term incentive program (LTIP 2020) which was withdrawn in April 2020 for the same reasons as the dividend.

In connection with an established dividend Bravida will repay the governmental grants that Bravida received in Sweden related to the Covid-19 pandemic. This will have a negative effect on earnings for 2020 of approximately SEK 8 million.
 

Mattias Johansson, President and CEO of Bravida says:

- We have had a strong cash flow for a long time and we have a solid order backlog. This, together with the fact that our business consists of both service and installation, gives Bravida a stable financial position.

More information about the Extraordinary General Meeting will be provided shortly in a separate notice to the Meeting.

For further information, please contact:    
Åsa Neving, CFO. Tel: +46 8 695 22 87
Morten Reedtz Kjellev, Head of Communications. Tel: + 46 72 226 37 79

This information is information that Bravida Holding 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 person set out above, at 08:30 CET on 17 September 2020.    
 

Bravida is the leading end-to-end servicing and installation provider in the Nordics, with over 11,700 employees. Bravida provides both specialist services and end-to-end solutions within electrical, heating and plumbing, HVAC, security, cooling, sprinklers, technical service management and power supply. Bravida is present in around 170 locations in Sweden, Norway, Denmark and Finland. www.bravida.se    

https://news.cision.com/bravida-holding-ab/r/bravida-s-board-of-directors-reintroduces-previously-withdrawn-proposal-for-dividend-and-intends-to-,c3195318

https://mb.cision.com/Main/8835/3195318/1307206.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2020 21 175 M 2 316 M 2 316 M
Net income 2020 973 M 106 M 106 M
Net Debt 2020 1 563 M 171 M 171 M
P/E ratio 2020 21,7x
Yield 2020 2,36%
Capitalization 21 126 M 2 354 M 2 310 M
EV / Sales 2020 1,07x
EV / Sales 2021 1,03x
Nbr of Employees 11 940
Free-Float 97,5%
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 101,67 SEK
Last Close Price 104,10 SEK
Spread / Highest target 10,5%
Spread / Average Target -2,34%
Spread / Lowest Target -18,3%
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Managers
NameTitle
Per Evert Mattias Johansson Group President & Chief Executive Officer
Knut Fredrik Jochum Arp Chairman
Magnus Hamerslag Head-Operations Development
Asa Neving Chief Financial Officer
Anders Staffan Påhlsson Independent Director