First Quarter: 1 January -
- Total revenue increased by 4,6% to TSEK 250 430 (239 483)
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Organic growth amounted to 7,2 % (-2,7 %)
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Gross margin amounted to 29,6 % (31,1 %)
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Operating profit amounted to TSEK 21 847 (14 822)
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Profit/loss for the period amounted to TSEK 14 419 (8 452)
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Basic earnings per share amounted to
SEK 1,20 (0,71)
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Diluted earnings per share amounted to
SEK 1,17 (0,65)
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Cash flow from operating activities amounted to TSEK -5 272 (-2 471)
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Cash and cash equivalents amounted to TSEK 80 019 (52 583)
- Net debt in relation to adjusted EBITDA R12: 1,6 (1,8)
CEO comments:
Jetpak had a satisfactory first quarter with an organic growth of 7,2 %, which provided a total revenue of 250 430 TSEK. The operating profit amounted to 21 847 TSEK, an increase compared to last year's operating profit by 47 %. The operating margin amounted to 8,7 %.
Main growth derived from our
The market position was unchanged on airfreight services, as Jetpak maintained the competitive edge on ad-hoc products and met unchanged competition on systemized products.
Price competition on road segment intensified especially on courier logistic services driven by increasing e-commerce volumes during the pandemic. As Jetpak is focusing on more value-added services on courier express and logistics, there were less exposure to price competition and subsequently we managed to maintain our current market position.
New business opportunities were realized within both segments despite air capacity restrains. Jetpak became the main supplier of nationwide distribution of vaccines in
Jetpak maintained a strong cost focus during first quarter. Continued temporary lay-offs and organizational adjustments as well as supplier renegotiations ensured continued cost efficiency and variability, which will support our competitiveness during coming quarters. In January we signed a contract for a new Arlanda handling facility, which will further enhance processes and reduce costs in one of our main gateways.
As previously announced, we have from this quarter introduced a changed segment reporting to
During the second quarter we expect a continuous ramp up on the air capacity as vaccine programs are rolled out and travel restrictions removed. Pre-corona capacity is still not in sight, as business travel behavior is expected to remain on a lower level, something which will impact frequencies.
Within the
Our work with Environmental, Social & Governance enhancing activities will be a continued focus area during coming quarter. We will strive towards a future CO2 neutral business model as well as focusing on a broad compliance to
Based on our first quarter performance, commercial activities, and further recovery from the covid-19 pandemic, we maintain our long-term targets of 5 % organic growth over a business cycle with 12 % of adjusted EBITA margin.
Conference call:
At 10 o'clock today (CET) Kenneth Marx and Håkan Mattisson, CFO, will be presenting Jetpak's result for the quarter.
Please use one of the local phone numbers listed below to join the conference call:
PIN code (same code for all the above numbers): 7983635#
The company's certified advisor is
The information was submitted for publication, through the contact person mentioned below, on the 27th of
This constitutes information that
Phone: +46 (0) 73 368 54 00
e-mail: ir@jetpak.com
About Jetpak:
Jetpak is the simplest and fastest option for prioritized door-to-door deliveries.
We offer solutions for both spontaneous transport needs and customized logistics.
Jetpak is represented in more than 170 locations around the Nordic region and
The
The share is traded with the ISIN code SE0012012508 under the short name JETPAK.
Please visit: https://jetpakgroup.com
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