Uponor Corporation Stock exchange release 28 October 2020 08:00 EET
Interim report January–September 2020: Strong performance for all segments
July–September 2020
• Net sales were €301.0 (292.4) million, a growth of 2.9%. Organic growth was 4.0% in constant currency terms.
• Comparable operating profit was €49.7 (31.3) million, a growth of 58.7%.
• Operating profit was €49.6 (31.3) million, a growth of 58.4%.
• Earnings per share were €0.43 (0.26).
January–September 2020
• Net sales were €855.5 (833.9) million, a growth of 2.6%. Organic growth was 3.6% in constant currency terms.
• Comparable operating profit was €115.3 (70.9) million, a growth of 62.7%.
• Operating profit was €108.5 (70.9) million, a growth of 53.1%.
• Earnings per share were €0.94 (0.54).
• Cash flow from business operations was €129.2 (47.4) million.
• Return on investment was 23.2% (15.1) and gearing 18.6% (52.9).
Guidance statement for 2020
On
“In the third quarter, we witnessed the markets starting to recover from the COVID-19 shock in the spring. However, after a calmer summer in
Building Solutions –
The
When we reinstated our guidance in September, we communicated that visibility of demand is still weak, and this has continued. The reinstatement of the guidance was based on our actual year-to-date performance instead of improved visibility on market development. As we approach the end of the year, it is good to keep in mind that our fourth quarter was especially strong last year. Due to seasonality of our business, the fourth quarter is slower for us in comparison to Q2 and Q3. We estimate that some favourable drivers witnessed earlier this year will benefit us less towards the end of the year. Regarding the demand, our current levels of demand are at the same level as in October 2019.”
Key figures
M€ | 7-9/ 2020 | 7-9/ 2019 | Change | 1-9/ 2020 | 1-9/ 2019 | Change | 1-12/2019 |
Net sales | 301.0 | 292.4 | 2.9% | 855.5 | 833.9 | 2.6% | 1,103.1 |
Building Solutions – | 125.3 | 124.0 | 1.1% | 372.7 | 373.3 | -0.2% | 489.3 |
Building Solutions – | 105.5 | 102.4 | 3.0% | 288.6 | 273.4 | 5.6% | 375.4 |
71.1 | 67.1 | 6.0% | 197.8 | 191.9 | 3.1% | 243.9 | |
Operating expenses | 238.9 | 248.2 | -3.7% | 708.5 | 725.6 | -2.3% | 961.3 |
Depreciation and impairments | 12.7 | 12.9 | -2.0% | 39.3 | 38.7 | 1.4% | 51.8 |
Other operating income | 0.2 | 0.0 | 489.3% | 0.7 | 1.2 | -40.6% | 1.3 |
Operating profit | 49.6 | 31.3 | 58.4% | 108.5 | 70.9 | 53.1% | 91.3 |
Building Solutions – | 17.2 | 10.9 | 57.9% | 36.6 | 26.3 | 39.1% | 31.6 |
Building Solutions – | 27.1 | 16.8 | 61.4% | 58.9 | 38.1 | 54.6% | 57.1 |
7.9 | 4.9 | 62.6% | 17.0 | 10.8 | 56.7% | 10.8 | |
Comparable operating profit | 49.7 | 31.3 | 58.7% | 115.3 | 70.9 | 62.7% | 92.7 |
Building Solutions – | 17.2 | 10.9 | 58.1% | 43.2 | 26.3 | 63.9% | 32.3 |
Building Solutions – | 27.1 | 16.8 | 61.5% | 59.0 | 38.1 | 54.9% | 57.1 |
7.9 | 4.9 | 62.6% | 17.0 | 10.8 | 56.7% | 10.8 | |
Financial income and expenses | -1.0 | -1.9 | -48.4% | -2.8 | -8.5 | -67.2% | -11.6 |
Profit before taxes | 47.7 | 28.3 | 68.6% | 102.4 | 59.3 | 72.7% | 75.6 |
Profit for the period | 35.2 | 20.5 | 71.4% | 75.3 | 43.0 | 75.3% | 55.3 |
Earnings per share | 0.43 | 0.26 | 68.2% | 0.94 | 0.54 | 72.8% | 0.72 |
M€ | 30 Sep 2020 | Change | ||
Net working capital | 103.8 | 150.7 | -31.1% | 115.1 |
Net interest-bearing debt | 73.9 | 190.5 | -61.2% | 139.1 |
Solvency | 42.7 | 42.1 | 1.4% | 44.6 |
Gearing | 18.6 | 52.9 | -64.9% | 37.6 |
Return on investment | 23.2 | 15.1 | 53.5% | 14.4 |
Webcast of the results briefing and the presentation
A live webcast on the third quarter results will be broadcasted on 28 October at
For further information, please contact:
Minna Yrjönmäki, CFO, tel. +358 20 129 2036
DISTRIBUTION:
Nasdaq
Media
www.investors.uponor.com
Attachment
Uponor Q3 interim report 2020
© OMX, source