The strategy delivers results - a strong quarter
July -
- Net sales in the quarter increased by 54 percent* to
SEK 1,176 (766) million. - Organic growth was 12 percent.
-
EBITA increased by 29 percent to
SEK 89 (69) million. -
EBITA margin amounted to
SEK 7.6 (9.0) percent. -
Cash flow from operating activities amounted to
SEK 53 (-13) million. -
Basic earnings per share were
SEK 0.89 (0.58). -
Diluted earnings per share were
SEK 0.88 (0.57).
* 50.5 percent, not including currency effects.
CEO comments
We continue delivering on our strategy of gathering the best entrepreneurs in our sector under one roof and are able to conclude that our growth during the year has been very strong, despite all the uncertainty in the world around us.
The compound annual growth rate (CAPR) over the last three years amounts to 31 percent and the corresponding growth of EBITA is 101 percent.
We continue to deliver
Revenue for the year has increased by 45 percent, of which 7 percent is organic, to
Compared to the first half of the year, there was an even higher growth rate in the third quarter, yet with a slightly lower margin of 7.6 (9.0) percent. We have specific times in our customer agreements when indexing can take place, normally annually, and therefore there is a delay from the time costs have increased until the price is adjusted. Higher interest rates and rising inflation, signs of a weaker economy and an uncertain geopolitical situation are things that impact us negatively. In that context, we are pleased that the margin is still so strong, at 7.6 percent and we are optimistic about our performance in the next quarter.
Our order backlog remains strong at just over
New acquisitions strengthen our position in
We are continuously evaluating new potential acquisitions and are very selective in our process. We have a decentralized model that is proven to work, where companies retain their decision-making authority and responsibility, while helping to boost the size and cumulative knowledge of the Group. We can see that our offering is attractive.
During the third quarter, we welcomed two new companies to the Group via the acquisition of Braathen Landskapsentreprenør AS in
New market and more acquisitions after the end of the period
In October,
Two additional companies were acquired after the end of the period: HK Sandnes in
A home for entrepreneurs
So far during the year, we have added a total of ten new companies to the Group in these countries:
Here at
Leadership and cultural issues are important to us and clearly linked to profitability. We work methodically to inject the required expertise and set up the structure that is needed at any of our subsidiaries. We do this by getting the best entrepreneurs in the Group involved and via our dedicated LEAN team.
Despite all the uncertainty in the world around us, I'm happy to conclude that we continue to reap success with our strategy.
Presentation of the report:
Phone: SE: +46850558375
US: +16467224904
Webcast: https://ir.financialhearings.com/green-landscaping-group-q3-2022
For more information:
Johan Nordström, CEO,
+46 70 838 58 12, johan.nordstrom@glgroup.se
+46 70 108 70 19, carl-fredrik.meijer@glgroup.se
This disclosure contains information that
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