Subdued quarter due to harsh weather and weaker demand in
FIRST QUARTER 2024
- Consolidated net sales decreased to
SEK 804 m (911), of which acquisitions 1 percent, currency effects 0 percent and organic development -13 percent - Net sales in Product & Solutions amounted to
SEK 627 m (701) and in Installation Services toSEK 202 m (239) - Gross profit decreased to
SEK 191 m (201), gross margin increased to 23.7% (22.1%) - EBITDA decreased to
SEK 17 m (30), EBITDA margin decreased to 2.1% (3.3%) - Operating profit (EBIT) decreased to
SEK -21 m (-11), EBIT margin decreased to 2.6% (-1.3%) - ROCE amounted to 10.0 percent (10.2)
- Cash flow from operating activities amounted to
SEK -83 m (-58) - Earnings per share before and after dilution were
SEK -1.04 (-0.84) andSEK -1.04 (-0.83), respectively
MESSAGE FROM THE CEO
Consolidated net sales in the first quarter decreased to
EBIT for the first quarter accordingly decreased to
ROCE now stands at 10.0 percent (10.2). Cash flow from operating activities amounted to
Our expectation for commercial new build and renovation demand remains neutral with the exception of
PRODUCTS AND SOLUTIONS
The Products & Solutions operating segment decreased
The Bitumen-based waterproofing business in
In our prefabricated wooden elements business, Taasinge Denmark managed to hold sales at last year’s level while
Sales development of our green infrastructure businesses, sold under the brand Veg Tech, had a negative development in a seasonally low quarter.
INSTALLATION SERVICES
The Installation Services operating segment decreased by -16 percent (40) to
In
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The entities in
CHALLENGING QUARTER
The first quarter had challenging weather conditions for most of our entities. In view of demand levels continuing to be challenged by stubbornly high interest rates we are carrying out cost reductions programs throughout our Group.
We continue to be well positioned with a solid balance sheet. As and when opportunities emerge, we shall be able to further expand the Group in accordance with our strategic plan.
Helsingborg,
President and CEO
Conference call
A conference call for investors, analysts and media will be held today,
To participate from computer, use link above or via MS Teams with meeting id 345 343 566 96 and passcode: Mtptqc.
To participate via phone, please use conference id 981 248 676# on any of below numbers:
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