Third quarter
· Net turnover amounted to MSEK 561.0.
· EBITDA totalled MSEK 25.4.
· Net turnover amounted to MSEK 764.4.
· EBITDA totalled MSEK 32.9.
· Operating cash flow was negative MSEK 21.8.
Third quarter
· Net turnover amounted to MSEK 561.0 (528.1), up 6% or MSEK 33.0
· EBITDA totalled MSEK 25.7 (25.7).
· Operating cash flow was negative MSEK 86.3 (positive: 52.8).
January - September
· Net turnover amounted to MSEK 1,744.7 (1,542.1), up 13% or MSEK 202.6
· EBITDA totalled MSEK 75.8 (89.2).
· Operating cash flow was MSEK 88.8 (31.2)
Significant events in the third quarter
· At an Extraordinary General Meeting on 22 August, Jan Örnevik was appointed as the company's new Chairman of the Board and
· In September, an agreement was signed for the completion of some 420 housing units at Haga Norra in
Significant events after the end of the quarter
· In October, a turnkey agreement was signed with CA Fastigheter for the construction of a 19 storey high-rise together with an annex in Södermalm in
· In October, a turnkey agreement was signed with the Vision trade union for the remodelling of its headquarters on Kungsgatan in
Statement by the CEO:
Intensive production phase and new contracts
The high rate of production that we have noted to date this year continued through the third quarter, and the period ended with a particularly strong September. Operating activities recorded year-on-year turnover increases of 6% for the quarter and 13% for the first nine months.
We posted robust underlying earnings with healthy and stable margins. However, our total margin was impacted by poor profitability at RA Bygg. The change program aimed at strengthening the property maintenance and construction services concept as well as improving profitability at RA Bygg has already been initiated and will continue through the autumn.
Our increased focus on cash flow and on reducing tied-up working capital has delivered results. Over the first nine months of the year, cash flow held a stable and healthy level. I am confident in the work we have invested. The temporary third-quarter decline was attributable to the high level of capital tied up in accounts receivable, since a major part of the invoicing for the quarter was conducted in September.
Demand remains positive in the locations where we operate; the majority of our projects are in central
Our order book remains strong. In September, our contract with Brabo and
Two further major contracts were signed at the start of the fourth quarter. Zengun has been entrusted by CA Fastigheter to construct the new
The underlying operations are robust and, moving forward, we see continued intensive production at many of our major projects in parallel with many exciting opportunities for new projects together with our customers.
Managing Director and CEO
For more information please contact:
Anna-Carin Bjelkeby, CFO, +46 70 580 62 25
Financial calendar 2020
Year-end report January -
Annual Report 2019 22 April
Interim Report January -
Interim Report January -
Interim Report January -
Prior to publication, this information constituted insider information. This information is of such a kind that
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