Third quarter highlights

  • Net sales increased to SEK 713.7 million (332.3), corresponding to growth of 114.7 percent. Organic growth was 2.5 percent.
  • EBITA increased to SEK 102.8 million (41.8) and the EBITA margin was 14.4 percent (12.6).
  • Items affecting comparability1 impacted EBITA by SEK 8.5 million (-8.0). Adjusted EBITA (excluding items affecting comparability) increased to SEK 94.3 million (49.9).
  • Earnings for the period amounted to SEK 72.0 million (30.2), earnings per share before dilution amounted to SEK 1.59 (0.80) and earnings per share after dilution were SEK 1.59 (0.78).
  • Operating cash flow rose to SEK 66.7 million (20.7).
  • The order backlog increased to SEK 1,628.0 million (988.0).

Nine month highlights

  • Net sales increased to SEK 1,823.7 million (921.3), corresponding to growth of 97.9 percent. Organic growth was 1.9 percent.
  • EBITA increased to SEK 188.4 million (88.7) and the EBITA margin was 10.3 percent (9.6).
  • Items affecting comparability1 impacted EBITA by SEK -7.5 million (-13.3). Adjusted EBITA (excluding items affecting comparability) increased to SEK 195.9 million (102.0).
  • Earnings for the period amounted to SEK 124.4 million (63.6), earnings per share before dilution amounted to SEK 2.75 (2.08) and earnings per share after dilution were SEK 2.75 (2.02).
  • Operating cash flow rose to SEK 131.6 million (68.9).

Significant events during the quarter

  • Three new acquisitions have been completed in the quarter: Eklunds Glas, Er-Jill, and Husby Takplåtslageri.
  • Fasadgruppen subsidiary company DVS Entreprenør has been contracted to perform comprehensive renovation work on 142 townhouses outside Oslo.

Events after the end of the period

  • Five additional acquisitions have been completed: Solid Fasad, Stilpro and Kumla Fasadteam in Sweden, SH-Bygg in Norway, and OPN in Denmark.
  • Fasadgruppen has entered into two new sustainability linked credit facility agreements for SEK 880 and 350 million respectively. The first of these primarily replaces current financing while the second expands our credit facility parameters.

CEO Pål Warolin comments the quarter: “Continued high and profitable growth”
“I am proud to present a strong quarter for Fasadgruppen where we have continued to deliver high growth and strong profitability. As in the previous quarter, we can report organic growth, which suggests we find ourselves in a more normalised market again after the pandemic. However, as planned the majority of growth derives from acquisitions, and already today, we can state that 2021 will be our most successful year ever in terms of the number of newly joined companies.

Sales in the third quarter amounted to SEK 713.7 million, an increase of 114.7 percent compared to the corresponding quarter in the previous year. Organic growth was 2.5 percent and growth through acquisitions 112.2 percent. The order backlog increased by 64.8 percent in the quarter, impacted by the generally lower order intake during the vacation months. Adjusted EBITA margin amounted to 13.2 percent in the quarter.

M&A is a key part of our growth strategy and as of the end of September this year, we have acquired 13 new businesses and a further five businesses after the end of the quarter, with combined estimated annual sales of around SEK 1,094 million. This means that 2021 will be far and away our most acquisition intensive year since the start of Fasadgruppen.

We are approaching the end of the year and we have seen continued good activity in the month of October and early November. Altogether, I am satisfied with the year to date and see good prospects to continue to deliver profitable growth, based on our strong market position and continued acquisitions.”

Report presentation
CEO Pål Warolin and CFO Casper Tamm will present the report in a conference call and webcast today 18 November at 08:15 CET. The presentation will be held in Swedish with presentation material in English and will be concluded with a Q&A session.

Dial-ins for conference call:
SE: +46 8 566 42 692
UK: +44 3333 009 267

Webcast link: https://tv.streamfabriken.com/fasadgruppen-group-q3-2021

A recording of the presentation will be available at www.fasadgruppen.se.

For more information, please contact:

Pål Warolin, CEO of Fasadgruppen
E-mail: pal.warolin@fasadgruppen.se
Cell: +46 (0) 70-925 52 01

About Fasadgruppen

Fasadgruppen Group AB (publ) is the largest façade work company in the Nordics and the only nationwide complete provider of sustainable façades in Sweden. The foundation of the Company’s business is the entrepreneurial local units operating with a clear focus on cooperation, commitment and competence. Fasadgruppen is listed on Nasdaq Stockholm (ticker: FG). For more information, visit www.fasadgruppen.se.

This information is information that Fasadgruppen is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-11-18 07:30 CET.

Attachments

Delårsrapport 2021 Q3 ENG VF

© Modular Finance, source Nordic Press Releases