Strong earnings and stable core business
The third quarter
- Net sales amounted to
SEK 3,427 million (2,854), an increase of 20.0 percent compared with the prior-year quarter, of which +13.6 percent was organic growth, +6.3 percent acquisitions and +0.1 percent currency effects. -
EBITA amounted to
SEK 410 million (307). -
EBIT amounted to
SEK 387 million (288). -
Profit after tax amounted to
SEK 272 million (199), and earnings per share totalledSEK 3.15 (2.25) before dilution. -
Cash flow from operations was
SEK 841 million (485).
The nine-month period
- Net sales amounted to
SEK 9,741 million (7,927), an increase of 22.9 percent, of which +18.9 percent was organic growth, +4.3 percent acquisitions and -0.3 percent currency effects. -
EBITA amounted to
SEK 998 million (586). -
EBIT amounted to
SEK 930 million (533). -
Profit after tax amounted to
SEK 637 million (334), and earnings per share totalledSEK 7.38 (3.78) before dilution. -
Cash flow from operations was
SEK 1,968 million (1,536).
Significant events during and after the quarter
- A ten-year agreement with Movia in
Copenhagen was renewed and expanded, valued at approximatelyDKK 570 million . -
Two new ten-year contracts were awarded by SL in Huddinge- Botkyrka-Söderort and Nacka-Värmdö, valued at approximately
SEK 12.7 billion and involving 530 scheduled buses. -
A lump-sum payment from Afa Försäkring had a positive impact of approximately
SEK 97 million on the Group's earnings in the third quarter of 2021/2022. -
At the company's Capital Markets Day,
Nobina announced a refined strategic framework, new business areas and revised financial targets of annual net sales growth of 7 percent, an EBITA margin of 6.5 percent, a net leverage ratio of 3-4 times EBITDA and a dividend policy of at least 60 percent of net profit. -
After careful consideration, the Board of Directors of
Nobina AB (publ) unanimously concluded to recommend shareholders to accept the public offer from Basalt, via Ride BidCo, ofSEK 108 in cash which was presented to the Board onFriday, December 10 .
Statement from the CEO
It is particularly gratifying to note that our core business, namely our contract business with our 4,000 buses, continued to note stable development and contributed to our positive performance in the quarter. Despite the fact that passenger volumes were approximately 20 percent lower than in the corresponding quarter in 2019, meaning before the Covid-19 pandemic, we have succeeded in strengthening our services and profitability through an improved contract mix, extra traffic and efficiency enhancements. As the Nordic region's largest operator, we are able to leverage economies of scale and at the same time offer our clients additional services that create added value for our passengers. The results of this work were particularly clear in our operations in
In the quarter we also received further confirmation that we have a strong offering in the form of a number of important contract wins. We defended and expanded our services with Movia in North Zealand in
We explained our view of these challenges and how we plan to address them at our Capital Markets Day on 24 November. Underlying market factors such as climate change, demographic trends and urbanisation are among the top priorities that must be addressed by society. Public transport plays a central role in this regard. As the largest and most experienced public transport operator in the Nordic region, we naturally see favourable opportunities for continued profitable growth in this environment. At the Capital Markets Day, we announced revised financial targets, launched a refined strategic framework and presented new business areas - Nobina Bus, Nobina Care and Nobina Mobility. We have a stable and sustainable business and a financial position that will enable us to continue pursuing an acquisition agenda focused on both geographies and segments.
Our new Nobina Care business area has been built up through acquisitions. Samtrans, which we acquired in 2018, constitutes the core of these operations and is currently a leading player in service traffic. The operations have subsequently been expanded geographically through the acquisitions of
An important aspect of improving the passenger experience is offering smart digital solutions that make it easier for passengers to plan and purchase trips - from door to door - with various modes of transport. Our Nobina Mobility business area offers a complete solution for this type of mobility in the Travis app. Travis has been available for passengers in
The Covid-19 pandemic has had a major impact on our business but not only negatively as many had expected. On the contrary, by broadening our operations and applying new business models we have been able to capitalise on, for example, the enormous need for mobile testing operations. At the same time, we have also gradually strengthened the conditions for our core operations in a temporarily challenging environment with fewer passengers. With three strong and future-oriented business areas in place, it is therefore easy to be optimistic - about both the short and the long term. It was also especially gratifying to announce early in December that we had strengthened the management team in preparation for this work. We are pleased to welcome Henrik Dagnäs,
On 13 December, Basalt, through
The offer in itself is confirmation that
To conclude, I would like to thank our more than 12,000 employees, clients and passengers for all their efforts during an eventful year and wish you all a Merry Christmas!
Magnus Rosén,
President and CEO
This information is such that
For further information, please contact:
Mattias Gelinder, Group Treasurer & Head of IR
mattias.gelinder@nobina.com +46 72 967 02 61
david.erixon@nobina.se +46 72 967 02 84
https://news.cision.com/nobina-ab/r/nobina-interim-report-1-september-2021-30-november-2021,c3476911
https://mb.cision.com/Main/1420/3476911/1513441.pdf
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