Summary of interim period, January-
- Net sales
SEK 447 million (373), an increase of 20% -
Recurring revenues
SEK 378 million (313), an increase of 21% including 8% organic -
EBITA was
SEK 130 million (96), an increase of 36% - EBITA margin 29% (26)
-
Operating profit was
SEK 83 million (56), an increase of 50% - Operating margin 19% (15)
-
Earnings per share before dilution
SEK 1.76 (1.21) -
Cash flow from operating activities
SEK 445 million (310) Acquisition DocuBizz ApS
Increased marketing activities, development initiatives and continued good growth
The year is off to a good start, with continued robust organic growth, +8% for our recurring revenues on a full-year basis. Total growth for the quarter compared with the corresponding year-earlier period is up +20%, EBITA rose 36% and operating profit grew an impressive 50% for the period. Margins also increased to 29% (26) for EBITA and 19% (15) for operating profit.
At the beginning of the year, we were able to adjust prices based on the index clauses included in many agreements; in recent years, this adjustment has not resulted in such large increases, but it now follows the general rising price trend in each market. Of course, there is also a corresponding increase on the expense side, mainly for our personnel costs, but this trend has not yet fully taken effect.
Cash flow is strong, which is in line with the seasonal pattern in which a high proportion of the recurring revenues for the year are paid in advance during the first quarter. These circumstances, along with continuous improvement in earnings, give us a strong financial position from which we are well prepared for future acquisitions.
We have also had a high level of activity in our product development, as well as a quarter with few holidays and vacations. A gradual return to the offices after the pandemic for both us and our customers has resulted in an increase in marketing activities, customer meetings and long-awaited creative and spontaneous meetings with colleagues.
At the beginning of the year we welcomed DocuBizz to the
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