NET ASSET VALUE AND THE
- The net asset value rose to
SEK 186 per share, compared withSEK 159 per share at the start of the year. This is an increase of 17.2 per cent. By comparison, theStockholm Stock Exchange's Total Return Index (SIXRX) increased by 8.7 per cent. The net asset value wasSEK 186 per share at 27 April.1 -
The total return on the
Latour share was 6.9 per cent during the period measured against the SIXRX, which rose 8.7 per cent.
INDUSTRIAL OPERATIONS
- The industrial operations' order intake rose 8 per cent to
SEK 6,320 m (5,840 m). Adjusted for foreign exchange effects, this represents a decrease of 4 per cent for comparable entities. -
The industrial operations' net sales rose 27 per cent to
SEK 6,372 m (5,019 m). Adjusted for foreign exchange effects, this equates to growth of 13 per cent for comparable entities. -
The industrial operations' operating profit increased by 48 per cent to
SEK 989 m (669 m), which equates to an operating margin of 15.5 (13.3) per cent. -
Swegon completed its acquisition of the
UK companyDalair on 3 January.
THE GROUP
- Consolidated net sales totalled
SEK 6,372 m (5,019 m), and profit after financial items wasSEK 2,224 m (1,264 m). -
In the period, earnings was affected by write-downs and reversals of write-downs of listed holdings with a net positive contribution of
SEK 472 m (-176 m). -
Consolidated profit after tax was
SEK 2,033 m (1,131 m), which equates to a share price ofSEK 3.18 (1.77). -
The Group reported net debt of
SEK 13,285 m (9,840 m). Net debt, excluding lease liabilities recognised under IFRS 16, wasSEK 11,877 m (8,610 m) and is equivalent to 9 (7) per cent of the market value of total assets.
INVESTMENT PORTFOLIO
- During the quarter, the value of the investment portfolio increased by 14.8 per cent adjusted for changes in the portfolio. The benchmark index (SIXRX) rose 8.7 per cent.
-
In March,
Latour participated in the issue of new shares byAlimak Group , pro rata to its holding, purchasing 16,016,809 shares in the company forSEK 747 m. In the same month,Latour participated in the issue of preference shares byCTEK , pro rata to its holding, purchasing 6,112,324 shares in the company for approximatelySEK 107 m.
EVENTS AFTER THE REPORTING PERIOD
- There were no material events subsequent to the end of the reporting period.
1 The calculation of the net asset value on 27 April was based on the value of the investment portfolio at
Comments from the CEO
"The year started very strong for
During the first quarter, total order intake grew by 8 per cent. Adjusted for acquisitions and currency effects it corresponds to a decrease of 4 per cent. At a first glance, the trend in order intake may seem weak, but in the corresponding period last year,
The geopolitical situation remains concerning and we are addressing this by ensuring that we are well prepared to respond and adapt to any changes that may occur. We are still experiencing disruptions in the supply chain, although the situation has improved and our capacity to deliver is strong. With a substantial order backlog for delivery, we expect to see invoiced sales remaining at a high level in the next quarters.
We have temporarily eased our pace of acquisition activity after an intensive year of acquisitions in 2022. During the quarter, we concluded an acquisition through Swegon, which acquired the
Following considerable economic uncertainty and falling stock markets last year, the performance over the first quarter has been positive.
Johan Hjertonsson
President and CEO
For further information please contact:
Johan Hjertonsson, President and CEO, Tel. +46 702-29 77 93 or
Anders Mörck, CFO, Tel. +46 706-46 52 110
Conference call
President and CEO
Webcast
Via the webcast you are able to ask written questions.
If you wish to participate via webcast, please use the link:
https://ir.financialhearings.com/latour-q1-2023
Teleconference
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If you wish to participate via teleconference, please register on the link below.
After registration you will be provided phone numbers and a conference ID to access the conference.
https://conference.financialhearings.com/teleconference/?id=2001172
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