Financial summary January –
- Net sales totaled
SEK 229m (196), an increase of 16.5 percent. Organic growth totaled 0.0 percent, the currency effect was 7.3 percent, and the effect of acquisitions was 9.1 percent. - EBITA totaled
SEK 86m (64), and the EBITA margin was 37.4 percent (32.6). - EBIT totaled
SEK 72m (55) and the EBIT margin was 31.3 percent (27.9). - Profit for the period totaled
SEK 56m (40). - Cash flow from operating activities totaled
SEK 105m (54), mainly due to the positive operating profit/loss (EBIT) and the change in working capital related to paid accounts receivable. - Earnings per share (basic and diluted) totaled
SEK 1.40 (0.99).
Key ratios, Group | ||||
Jan–Mar 2023 | Jan–Mar 2022 | Apr 2022– | Full year 2022 | |
Net sales, SEKm | 229 | 196 | 880 | 848 |
Net sales pro forma, SEKm | – | 220 | – | 872 |
Organic growth, % | 0.0 | 28.3 | -4.8 | -0.8 |
EBITDA, SEKm | 91 | 69 | 344 | 322 |
EBITA, SEKm | 86 | 64 | 321 | 299 |
EBITA margin, % | 37.4 | 32.6 | 36.4 | 35.3 |
EBIT, SEKm | 72 | 55 | 266 | 249 |
EBIT pro forma, SEKm | – | 55 | – | 249 |
EBIT margin, % | 31.3 | 27.9 | 30.2 | 29.3 |
EBIT margin pro forma, % | – | 25.2 | – | 28.6 |
Adjusted EBIT, SEKm | 72 | 65 | 264 | 257 |
Adjusted EBIT margin, % | 31.3 | 33.1 | 29.9 | 30.3 |
Profit/loss for the period, SEKm | 56 | 40 | 211 | 194 |
Cash flow from operating activities, SEKm | 105 | 54 | 287 | 236 |
Net debt, SEKm | -75 | -179 | -75 | 4 |
Net debt/EBITDA LTM | -0.22 | -0.63 | -0.22 | 0.01 |
Return on equity, % | 51.4 | 45.5 | 51.4 | 53.8 |
Earnings per share, SEK | 1.40 | 0.99 | 5.26 | 4.85 |
CEO comment
High profitability and investments for growth
We are pleased to report a stable and profitable first quarter for
Stable demand in the quarter
In the first quarter of 2023, our markets paced on, but we did not grow organically. Sales growth for the period was 17 percent, with the effect of acquisitions totaling 9 percent and the currency effect being 7 percent. Developments in
Launch of Profoto Elevate
We maintained our focus on driving growth through innovation and continued to invest around 10 percent of our sales in product development during the quarter. This was products for professional photographers and e-commerce companies.
We are committed to both regularly launching the next version of our existing products and developing completely new products that satisfy additional customer needs. With the acquisition of StyleShoots in
A complete solution for e-commerce photography
While the need for great images in e-commerce is strong, the process itself is in real need of streamlining. The process can be divided into four different phases: planning, photography, post- production, and publication. Currently, no provider supports all four phases of the process.
Our business model is unique and involves continuous development to ensure that we meet our customers’ needs. I am convinced that we at
Sundbyberg,
Anders Hedebark
President and CEO
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