Organic growth and a strong order intake during the quarter
** Net sales increased by 11 percent to
** The order backlog rose by 20 percent to
** EBITA rose by 31 percent to
** The EBITA margin was 10.1% (8.5)
** Profit after tax was
** Cash flow from operating activities was
** Net debt amounted to
** Eight acquisitions were made during the quarter, adding annual sales of approximately
** Basic and diluted earnings per share were
** Repayment of pension funds from the insurance company AFA affected EBITA by
CEO statement
Organic growth was 6 percent and the order intake increased by 41 percent during the fourth quarter. All countries contributed to the overall growth, which comes from both service and installation activities. The EBITA margin improved compared to last year. With a record order backlog and increased demand for services,
Netsales and EBITA
I am very pleased with our good performance during the quarter. Our previous assessment was that organic growth would return by the end of the year and it is pleasing to see that this is indeed the case. Organic growth for the fourth quarter was 6 percent and was positive in all countries except
The order backlog increased by
EBITA for the quarter was
Dividend proposal and record low debt
The operating cash flow increased in the quarter compared to last year, mainly due to more activity in the installation business. Debt amounted to a record low 0.5 times EBITDA. The Board proposes raising the dividend by 20 percent to
Acquisitions
Our pursuit of acquisitions has intensified over the past six months, as we start to move away from the challenges caused by the pandemic, which made it difficult to meet potential companies. We made 20 acquisitions in 2021, with total annual sales of approximately
Sustainability
In order to reduce our climate footprint and improve what we can offer employees, Bravida Sweden took the decision during the quarter to offer only electric cars as company cars.
Outlook
There is a clear recovery in both the service and installation businesses, and we witnessed a gradual improvement in the market in 2021. In a shorter perspective, we are taking into account that the pandemic is still causing some uncertainty. We had a higher than normal sickness absence rate in late 2021 and this trend continued in early 2022. This will have a short-term impact on our own production.
As we previously announced, raw material prices are rising sharply and there is a risk of material shortages in some areas.
Our assessment is that high energy prices and our customers' sustainability requirements regarding their properties will drive demand for energy-efficient solutions and energy optimisation in the future. This is a demand that we are well equipped to meet. Our investments in areas such as building automation and technical facility management further strengthen our range of services and create more opportunities for profitable growth.
I am optimistic about the coming quarters, with our strong order backlog and good demand for services likely to result in a high level of business activity.
For further information, please contact:
Peter Norström, Head of Investor Relations
Tel: +46 8 695 20 07
peter.norstrom@bravida.se
The report will be presented at
Link to webcast
https://tv.streamfabriken.com/bravida-q4-2021
Telephone conference dial-in number
SE: +46850558352
US: +16467224956
This disclosure contains information that
Good properties make a difference - that's why
https://news.cision.com/bravida-holding-ab/r/interim-report-october-december-2021,c3506291
https://mb.cision.com/Main/8835/3506291/1535111.pdf
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