Third quarter: 1 July -
- Total revenue increased by 23,1 % to 308 371 (250 428) TSEK
- Organic growth amounted to 11,8 % (15,1 %)
- Gross margin amounted to 30,0 % (30,5 %)
- Operating profit amounted to 30 718 (24 413) TSEK
- Adjusted EBITA amounted to 30 718 (24 413) TSEK
- Net income amounted to 21 198 (16 379) TSEK
-
Basic earnings per share amounted to 1,74
(1,36) SEK -
Diluted earnings per share amounted to 1,74
(1,35) SEK - Cash flow from operations amounted to 34 490 (34 910) TSEK
- Cash and cash equivalents amounted to 140 553 (112 425) TSEK
-
Net debt in relation to adjusted EBITDA R12: 0,5 (1,2)
Interim period: 1 January -
- Total revenue increased by 23,1 % to 932 370 (757 296) TSEK
- Organic growth amounted to 13,2 % (15,5 %)
- Gross margin amounted to 31,0 % (30,2 %)
- Operating profit amounted to 93 085 (71 053) TSEK
- Adjusted EBITA amounted to 93 085 (71 053) TSEK
- Net income amounted to 65 353 (47 385) TSEK
-
Basic earnings per share amounted to 5,36
(3,95) SEK -
Diluted earnings per share amounted to 5,36
(3,92) SEK - Cash flow from operations amounted to 80 581 (57 528) TSEK
The comparison figures within parentheses refer to the corresponding period last year, unless otherwise stated.
CEO comments
Jetpak had another strong quarter with a total growth of 23,1 % with an underlying organic growth of 11,8 %. Total revenue amounted to TSEK 308 371 and the operating profit to TSEK 30 718 - equal to an operating margin of 10,0 %.
The
36,8 % with a gross margin of 38,9 (41,3) %. Main revenue drivers were
Market growth continued steadily for both segments during the quarter, even though our
We expect a relatively unchanged market situation during the coming quarter.
The 15-day long pilot strike at SAS during the beginning of the third quarter mainly affected Jetpak Sweden and
Thanks to our contingency planning already by the end of the second quarter, we managed to reschedule and change capacity providers within our network, something which limited the negative effects from the SAS strike.
Air capacity remains a concern due the financial distress of major airlines following Covid-19, which also has contributed to
To support our future network stability, we have established a five-year capacity agreement with Widerøe, primarily for the support of domestic Norwegian and European networks.
We continued to optimize our supply chain with CO2 reducing activities, including capacity optimization, in combination with use of HVO fuel and projects to increase the use of electric vehicles in densely populated areas. The drone technology is closely followed and will become an integral part of our future supply chain, when we have an operationally and commercially viable delivery model. These initiatives will continue to be important areas of focus in the coming periods.
M&A remained a high priority during the quarter, and we are currently in dialogue with a few prospects while our M&A pipeline is being further developed. Transactions are not expected to be realized within the next couple of months due to the current uncertain economic outlook, which potentially can lead to more M&A opportunities and to more attractive valuations in the future.
We have during the quarter entered into a new long-term financing agreement, including a revolving credit facility on favorable market terms. This agreement is an important prerequisite to realize our growth plans during coming years.
During the third quarter management and board reviewed our strategy and overall targets and it was decided to continue the decided growth path based on M&A driven growth within our current markets as well as organic growth in terms of new products and services and in combination with geographic expansion of current product portfolio. Further cost efficiency initiatives will be prioritized during 2023 to protect our margins in case of further economic downturn.
Looking ahead into 2023 our growth expectations are moderate - based on the high inflation and interest rates within our core markets. The further development is carefully monitored, and contingency plans are prepared to minimize any potential margin impact.
Despite operational disruptions and cost challenges, we maintain our long-term targets for organic growth and adjusted EBITA.
Chief Executive Officer
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The information was submitted for publication, through the contact person mentioned below, on
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The full report is attached here below and also available at:
https://jetpakgroup.com/en/investors/financial-reports/
For further information
Håkan Mattisson, CFO
Phone: +46 8 5558 5220
e-mail: ir@jetpak.com
About Jetpak
Jetpak is a logistic group represented in more than 170 locations around the Nordic region and in
This can be further supplemented by a unique customized next-day service for systemized transports.
Segment wise, Jetpak has its business divided into one
The group's parent company,
The Jetpak share is traded under the short name JETPAK and with the ISIN code SE0012012508.
Please visit: https://jetpakgroup.com
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