During the last quarter of the year, sales remained strong with growth across all business units. Overall, sales grew by 29 percent to MSEK 27.9 (21.6). Our operating profit/loss improved to MSEK -6.1 (-19.7) thanks to the increasing sales and lower costs. Cash flow from operating activities strengthened significantly to MSEK 6.7 (0.1).
Translation from CEO
Q4, 1 October -
The Group's result in Q4 2023 compared with Q4 2022
» Net revenue amounted to
» The gross margin amounted to 18.4 (-21.9) %
» EBIT amounted to
» Cash-flow from operating activities amounted to
1 January -
The Group compared with 2022
» Net revenue amounted to
» The gross margin amounted to 24.3 (11.2) %
» EBIT amounted to
» Cash-flow from operating activities amounted to
Word from the CEO
During the last quarter of the year, sales remained strong with growth across all business units. Overall, sales grew by 29 percent to MSEK 27.9 (21.6). Our operating profit/loss improved to MSEK -6.1 (-19.7) thanks to the increasing sales and lower costs. Cash flow from operating activities strengthened significantly to MSEK 6.7 (0.1).
The Nonwoven & fiber technologies business unit showed continued healthy growth of 44.5 percent, to MSEK 9.0 (6.2). Growth was driven by increased supplies to both existing and new customers. Our portfolio of customer projects remain strong and we have a couple of projects which are near product launches.
The Green coatings & maintenance products business unit performed very well during the quarter, with a sales growth of 58.6 percent and sales totaling MSEK 7.2 (4.5). The OrganoTex and BIOkleen brands showed solid growth, as did our car care products. The quarter saw strong customer growth, with several new customers gained for both OrganoTex and BIOkleen and the start to 2024 has been strong.
Fortunately, the declining sales in the Functional wood business unit reversed to positive growth of 7.8 percent, with sales totaling MSEK 11.7 (10.9). Increased sales to our most important export markets
In conclusion, 2023 was a very strong year for us. We grew sales by 26.8 percent to MSEK 145.9 (115.0) and improved our operating profit/loss to MSEK -9.2 (-38.5). Cash flow from operating activities turned positive for the year as a whole, amounting to MSEK 0.5 (-21.2). In addition, we have increased the biobased content of our products from 80 percent to 93 percent.
It will be a challenging first quarter 2024 in comparison with the first quarter 2023. This applies in particular to the Nonwoven & fiber technologies business unit, which experienced very strong sales in the first quarter, partly on account of stock build-up among our customers. We have however gained many new customers within several product areas. We now look forward to a green 2024, in which even greater volumes of fossil chemicals and plastics will be replaced by our biobased products!
This disclosure contains information that
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For more information, please contact:
0707 - 16 48 90, marten.hellberg@organoclick.com
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