YEAR-END REPORT 1 APRIL 2023 - 31 MARCH 2024

Niklas Stenberg, President and CEO, and Malin Enarson, CFO

QUARTER 4

HIGHLIGHTS

Net sales

SEK 5,091 m, -3%

EBITA-margin

15.0%

( 14.4%)

2

  • Solid end to a strong year
  • Continued stable business situation in key segments
  • Net sales down 3%
  • Order backlog remained at a high level and of good quality
  • Record high EBITA-margin at 15.0%
  • Negative one-off result effect of SEK 39 m related to a customer claim

QUARTER 4: NET SALES DEVELOPMENT

UNDERLYING A SOLID QUARTER

  • Net sales decreased by 3%
    • Organic net sales decreased by 7%
    • Order backlog remained at a high level
    • Weaker sales in Battery Systems and decreased volume business within Energy
    • Negative sales effects from customer claim within Energy

3

QUARTER 4: EBITA DEVELOPMENT

IMPROVED PROFITABILITY

  • Stable EBITA with a record high margin of 15.0%
    • Increased value add, improved product mix and strong contributions from acquisitions
    • Negative one-off effect of SEK 39 m in business area Energy
    • P/WC 68% (66)

4

QUARTER 4: BUSINESS AREA DEVELOPMENT

STABLE MARKET CONDITIONS AT HIGH LEVELS

AUTOMATION

Net sales SEK 957 m (962) +/-0% EBITA SEK 132 m (126) +5% EBITA-margin13.9%

  • Solid end to the fiscal year
  • Continued good demand for companies supplying the defense and process industry
  • Stable demand in mechanical industry and medical technology

ELECTRIFICATION

Net sales SEK 1,040 m (1,149) -10% EBITA SEK 135 m (143) -6% EBITA-margin13.0%

  • Weak quarter with very challenging comparisons
  • Stable demand within energy, special vehicles, mechanical industry and medical technology
  • Good demand in defense remained

ENERGY

Net sales SEK 1,276 m (1,355) -6% EBITA SEK 142 m (176) -19% EBITA-margin11.1%

  • Tough quarter affected by the negative effects from the customer claim
  • The business situation within electric power distribution remained strong
  • Stable demand in mechanical industry and positive signs within wind power
  • Weak demand within building and installation as well as for fiber optic network products

INDUSTRIAL SOLUTIONS

Net sales SEK 930 m (937) -1% EBITA SEK 215 m (190) +13% EBITA-margin23.1%

  • Strong end to a record year
  • Weak sales within special vehicles
  • Good sales within forest and sawmill industry, but with continued low will to invest in new projects
  • Lower demand within manufacturing industry
  • Favorable business situation in waste & recycling

PROCESS TECHNOLOGY

Net sales SEK 899 m (875) +3% EBITA SEK 143 m (125) +13% EBITA-margin15.9%

  • Solid quarter with variations between segments
  • Good demand situation within energy and process industry - especially chemical and oil & gas
  • Stable demand in medical technology and marine segments
  • Lower demand in forest and mechanical industry as well as special vehicles

5

QUARTER 4

STEADY INCREASE IN PROFITABILITY

6

QUARTER 4

INVENTORY LEVELS CONTINUE TO COME DOWN

7

QUARTER 4

LOW RISK BALANCE SHEET

Equity ratio 39% (36%) Leverage 1.4 (1.5)

Gearing 0.7 (0.8)

8

FULL YEAR 2023/2024

HIGHLIGHTS

Net sales

SEK 20,019 m +7%

EBITA-margin

14.3%

From 13.6%

9

  • High customer activity and increased profitability in all business areas
  • Net sales up 7% and a very satisfying EBITA growth of 13%
  • Strengthened cashflow and improved inventory levels
  • Ten carefully selected acquisitions to strengthen and complement our niche strategies - another three after closing
  • Evaluated and validated in accordance with the Science Based Targets initiative framework

FULL YEAR 2023/2024

A SUCCESSFUL YEAR

  • Net sales increased by 7% to SEK 20,019 m (18,714)
  • The organic sales were flat, the acquired growth 5% and the currency effect was 2%
  • EBITA increased by 13% and amounted to SEK 2,860 m (2,540) corresponding to an EBITA margin of 14.3% (13.6)
  • Operating profit increased by 12% and amounted to SEK 2,426 m (2,167) corresponding to an operating margin of 12.1% (11.6)
  • Profit after tax increased by 9% and amounted to SEK 1,691 m (1,554)
  • Cash flow from operating activities amounted to SEK 2,575 m (1,911)
  • Earnings per share before/after dilution amounted to SEK 6.05 (5.55)
  • Board proposes a dividend of 2.80 SEK (2.50) per share

10

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Addtech AB published this content on 16 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 May 2024 07:17:03 UTC.