Q2 2022 - ORGANIC GROWTH AND STRENGTHENED POSITION IN NORTHERN EUROPE
Acquisition of Koivunen enables continued growth and strengthened position
Target to be the best and most complete partner in our markets
Organic growth - resilient business model
Market fluctuations in Denmark and Norway
Currency and inflation affects profitability - cost balance activities initiated
2
MARKET LEADER IN NORTHERN EUROPE
Illustrative combined sales and EBIT
Synergy potential
Geographic presence
Synergy potential of SEK 40 million, with full effect in 2024
Efficiency through economies of
scale in MEKO's current operation in Finland
Efficiency potential within distribution, warehousing,
sourcing, common private label offerings, as well as digitalization and concept development
▪ Purchasing synergies
Strong position to lead the aftermarket's transformation to a
future electrified car fleet
3
MEKO - SECOND QUARTER
SEK M
Q2 2022
Q2 2021
Change
2022 6M
2021 6M
Change
Group, net sales
3 357
3 210
5%
6 512
6 211
5%
Adjusted EBIT1)
240
314
-23%
465
538
-14%
EBIT
185
280
-34%
375
466
-19%
Earnings per share, SEK
1,73
3,24
-47%
3,84
5,10
-25%
Cash flow from operating activities
387
406
-5%
249
585
-57%
Key figures
- Organic growth2)
2%
12%
1%
11%
- Adjusted EBIT margin
7%
10%
7%
9%
- EBIT margin
5%
9%
6%
7%
Adjusted EBIT is EBIT adjusted for items affecting comparability and amortization of acquired intangible assets - FTZ and Inter-Team (including MECA until May 2022 and Sørensen og Balchen until April 2021).
Organic growth refers to changes in net sales adjusted for the number of workdays, acquisitions/divestments and currency effects.
4
CURRENCY AND INFLATION AFFECTS EBIT DEVELOPMENT
EBIT bridge 2021Q2 to 2022Q2
1)
MSEK
1)
2)
3)
1) Excluding currency effects on accounts receivables/payables. 2) Currency effects on accounts receivables/payables.
3) Items affecting comparability (IAC) related to transaction costs Koivunen.
5
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Meko AB published this content on 24 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2022 05:47:01 UTC.
Meko AB, formerly Mekonomen Aktiebolag is a Sweden-based corporate Group that operates and develops business in the automotive aftermarket. The Company is a spare parts distributor with concepts and brands in Northern Europe Denmark, Norway, and Sweden, and Polish market with exports to Germany, the Czech Republic and the Baltics, among others. Meklo operates within four business areas: FTZ, Inter-Team, MECA/Mekonomen and Soerensen og Balchen. The FTZ business area primarily includes wholesale and branch operations in Denmark. The Inter-Team business area primarily includes wholesaling and shop operations in Poland and export operations. The MECA/Mekonomen business area primarily includes wholesale, branch, workshop and fleet operations in Sweden, Norway and Finland. The business area consists of the operations MECA, Mekonomen and a number of smaller operations. The Soerensen og Balchen business area primarily includes wholesale and shop operations in Norway.
MEKO AB 
