First quarter 2022
- Net revenue increased by 65% to SEK 756 million (457). Organic growth was 7%.
- Adjusted EBITA increased to
SEK 88 million (73), corresponding to a margin of 11.6% (15.9). - Profit for the period totalled
SEK 33 million (32) and earnings per share, basic and diluted, amounted toSEK 0.24 (1.29). - Adjusted earnings per share, basic and diluted, totalled
SEK 0.32 (1.40). - Cash flow from operating activities amounted to
SEK 76 million (111). - On 1 January, the acquisitions were completed of German company
Zentrale Autoglas GmbH , which operates a bus glass repair and replacement business, and Norwegian company MPS Bilskade AS, which operates within SMART repair.
Significant events during the first quarter
- At the end of the first quarter,
Cary Group signed an agreement to acquire 100% of the shares inUK companyCharles Pugh (Holdings) Ltd. The company is one of the UK’s market leaders in vehicle glass repair and replacement, along with related wholesale business. This acquisition strengthens Cary Group’s market position in theUnited Kingdom and enables synergies with Cary Group’s existingUK operations. The acquisition was completed on4 May 2022 . Cary Group has entered into an agreement with the company’s banks on extending the current credit facility by a furtherSEK 1,050 million , making the total credit facility availableSEK 3,100 million . This financing secures access to capital for the company’s continued expansion.
Significant events after the first quarter
- On 1 April, the acquisition was completed of
GlassCo S.A. , owner of “ExpressGlass”, which operates a vehicle glass repair and replacement business inPortugal .
Presentation of the report
A conference call for investors, analysts and financial media will be held at
You can follow the conference via https://tv.streamfabriken.com/cary-group-q1-2022.
A recording of the conference call will be available afterwards at www.carygroup.com.
Dial-in details for the conference call:
SE: +46 8 566 42 705
US: +1 6 319 131 422 PIN US: 91572095#
For more information, please contact:
Tel: +46 708 684 050
E-mail: helene.gustafsson@carygroup.com
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