First quarter 2022
- Order intake increased by 23% to
SEK 7,085 million (5,747). For comparable units, it was an increase of 12%. -
Net sales increased by 24% to
SEK 6,398 million (5,147). For comparable units, it was an increase of 12%. -
EBITA increased by 35% to
SEK 959 million (713), corresponding to an EBITA margin of 15.0% (13.9%). -
Profit for the quarter rose 38% to
SEK 638 million (461), and earnings per share amounted toSEK 1.75 (1.27). -
Cash flow from operating activities amounted to
SEK 276 million (489).
CEO's message
Higher growth and record earnings
First quarter
Demand for the first quarter of 2022 was broad and strong, a sequential increase from the fourth quarter 2021. Order intake amounted to
Net sales improved in all business areas and amounted to
As a consequence of
EBITA improved by 35% and amounted to
During the quarter, our companies continued to be impacted by the disruptions in delivery chains, with long delivery times and component shortage without indication of any improvement. These disruptions, together with rising inflation, hampered and dampened our performance somewhat during the quarter, causing a rising challenge for our companies. Nevertheless, I am confident that our entrepreneurial, flexible companies will be able to continue managing the situation effectively through, for example, proactive purchasing efforts and successful pricing.
The supply chain disruptions also led to many companies having a higher amount of capital tied up in inventory during the first quarter. That, together with higher accounts receivable led to a decrease in cash flow. Working capital efficiency continued to improve however, and the Group's financial position is still stable and strong with a historically low debt/equity ratio.
Acquisitions
The activity in our acquisition processes remained high during the first quarter. Thus far in 2022, we have completed four acquisitions corresponding to annual sales of around
During April, we completed the acquisitions of the German company Stabalux and the Swedish company
Despite higher uncertainty, our assessment is that the acquisition climate in 2022 remains good. We have a high level of activity in our acquisition processes and are working continuously to strengthen our capacity, which puts the prerequisites in place for being able to continue making value-creating acquisitions.
Outlook
The geopolitical challenges, continued disruptions in supply chains and rising inflation contribute to a higher business risk ahead. However, the strong first quarter and our high order backlog give us confidence regarding sales and earnings growth in the short term. We continue focusing on organic growth, where, among other things, sustainability is an important business opportunity. Continuous innovation and development of products and solutions that makes customers' operations more efficient and lowers the environmental impact, are key to strengthening competitiveness even further.
Our business model has historically proven itself to be very resilient and our entrepreneurs are skilled at navigating during volatile market conditions. The Group's structure, with quick-to-respond, flexible, customer-oriented companies, together with a strong order backlog, provides us with a stable platform for continued long-term sustainable and profitable growth.
Note
The information in this report is such that
For further information, please contact:
This report will be commented upon as follows:
A webcast of the report will be presented on 29 April at 9.30 CEST via the following link:
https://tv.streamfabriken.com/indutrade-q1-2022
To participate in the conference call and to ask questions, please call:
SE: +46 8 566 427 03
US: +1 6 467 224 956
About
https://news.cision.com/indutrade-ab/r/interim-report-1-january---31-march-2022,c3556230
https://mb.cision.com/Main/2210/3556230/1571430.pdf
(c) 2022 Cision. All rights reserved., source