Increased net sales with improved margins
July-
- Net sales amounted to
SEK 893 million (821). -
EBITDA amounted to
SEK 80 million (72) before items affecting comparability, corresponding to a margin of 9.0 percent (8.8). -
Profit for the period was
SEK 31 million (34), corresponding to earnings per share ofSEK 0.45 (0.52) before dilution andSEK 0.45 (0.51) after dilution. -
Free cash flow amounted to
SEK -8 million (64). Midsona agreed to acquire Vitality and Oy, a leading Finnish player in the consumer health products category.-
Supported by the authorisation granted by the Annual General Meeting on
5 May 2021 ,Midsona 's Board of Directors approved a directed new share issue, wherebyMidsona raisedSEK 500 million before deductions for issue expenses.
January-
- Net sales amounted to
SEK 2,761 million (2,626), but with challenges in organic growth as a result of the previous year's hoarding effects and increased household consumption. -
EBITDA amounted to
SEK 252 million (276) before items affecting comparability, corresponding to a margin of 9.1 percent (10.5). -
Profit for the period was
SEK 88 million (121), corresponding to earnings per share ofSEK 1.33 (1.85) before dilution andSEK 1.32 (1.84) after dilution. -
Free cash flow amounted to
SEK -69 million (150).
Significant event following the end of the report period
Midsona took possession of the acquired Vitality and Oy on 1 October.
Comment by the CEO
The third quarter of the year was marked by intensive preparations for Christmas, which is our high season for many product groups. For the Group, the trend was mixed, with good profits in many parts of the operations, although we saw poorer profits in other parts due to continued delivery disruptions and poor harvests.
Shortages of raw materials and delivery disruptions burdened sales and earnings
Net sales increased 9 percent to
The decline in sales was attributable primarily to shortages of raw materials and getting certain raw materials delivered. There were several reasons for this - on the one hand, for some of our product groups, we saw poor harvests, while on the other, the global supply chain continues to struggle with transport problems, particularly from
For large parts of Nordics and for
In some countries, a certain negative effect was observed during the quarter as economies opened up following the summer as the pandemic subsided, where trade declined somewhat in favour of the restaurant industry. The effect was particularly noticeable in southern
Price increases to be expected
During the quarter, we saw increased world market prices for several key raw materials. Plastics and other packaging materials became significantly more expensive. Cost increases for raw materials, input goods and transport have led us to prepare price increases. In some cases quite substantial ones. As supply chain disruptions are a global and well-known problem, we believe that our planned price increases will be accepted. At the same time, we are working hard to meet the challenges within the supply chain and are monitoring the global situation closely.
Value-generated acquisitions completed and on the agenda
The acquisition of Vitality and Oy (Vitality) in
During the quarter, we implemented a directed new share issue to institutional investors for approximately
Peter Åsberg
President and CEO
For more information, please contact President and CEO Peter Åsberg, telephone +46 (0)730 26 16 32, or CFO
This is information of the type that
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