HAKI Safety : Interim report January-March 2024 - HAKI Safety AB (publ)
April 22, 2024 at 04:37 pm IST
Share
English
Swedish
Published: 2024-04-22 13:00:00 CEST
HAKI Safety AB
Interim report (Q1 and Q3)
Interim report January-March 2024 - HAKI Safety AB (publ)
"Improved gross margin in a continued soft market," Sverker Lindberg, President and CEO
First quarter 2024
Net sales declined 32 percent to SEK 242 M (355). Organically, net sales declined 27 percent.
Adjusted EBITA declined and amounted to SEK 14 M (34).
Operating profit declined SEK 25 M and amounted to SEK 7 M (32). Non-recurring items of SEK 5 M regarding the divestment of FAS Converting Machinery had a negative impact on the operating profit.
Net result after tax was SEK 4 M (19).
Cash flow from operating activities amounted to SEK -18 M (60).
Earnings per share before dilution totalled SEK 0.15 (0.70) and after dilution SEK 0.15 (0.69).
New financial targets and a new reporting structure were presented at the Capital Markets Day on March 14, 2024.
A new warehouse and office were established in Stavanger, Norway, to meet the increasing demand for the energy sector in Norway.
The divestment of FAS Converting Machinery was finalised during the first quarter.
This is a translation of the Swedish original version. If there are any differences between this translation and the original Swedish language, the latter shall prevail.
Financial summary
2024
Q1
2023 Q1
2023 Q1-Q4
Net sales
242
355
1,188
Gross profit
87
112
397
Adjusted EBITA
14
34
95
Operating profit
7
32
99
Profit before tax
4
25
78
Net result
4
19
62
Net sales, growth %
-31.8
26.3
1.7
Gross margin, %
36.0
31.5
33.4
Adjusted EBITA, %
5.8
9.6
8.0
Operating margin, %
2.9
9.0
8.3
Earnings per share, before dilution, SEK
0.15
0.70
2.27
Earnings per share, after dilution, SEK
0.15
0.69
2.24
Cash flow operating activities, SEK
-18
60
153
Financial net debt, SEK M
285
278
298
Financial net debt / Adjusted EBITDA excl. IFRS 16, times
2.2
1.9
1.9
Equity/assets ratio, %
49
42
48
For more information, contact
Sverker Lindberg, President and CEO
Email: sverker.lindberg@hakisafety.com
Phone: +46 40 30 12 10
HAKI Safety (formerly Midway Holding) is an international industrial group, focusing on safety products and solutions that create safe working conditions at temporary workplaces. The group has annual sales of about SEK 1.2 billion and has since 1989 been listed on the Nasdaq Stockholm Small Cap. HAKI Safety offers a wide range of products and solutions within system scaffold and work zone safety, and digital and technical solutions that help customers achieve safety and efficiency in their environments.
This information is information that HAKI Safety AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-04-22 13:00 CEST.
Attachments:
Interim Report Q1 2024 HAKI Safety AB publ.pdf
This news release was distributed by Company News System, www.nasdaqomxnordic.com/news/marketnotices
To subscribe on regulatory news from this company, go to the subscription page
Attachments
Original Link
Permalink
Disclaimer
Haki Safety AB published this content on
22 April 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
22 April 2024 11:06:38 UTC.
Midway Holding AB is a Sweden-based industrial conglomerate company. The Company reports two divisions, namely Technology and Trade. The Technology division groups the Companyâs subsidiaries active within the construction supplies and industrial electronics sectors, such as Landqvist Mekaniska AB, Fas Converting Machinery AB, Haki AB and MidTrailer AB. The Trade division groups the Companyâs subsidiaries active within the automotive, construction machinery, business solutions and communications equipment sectors, such as Gustaf E Bil AB and NOM Holding AS. The Company operates primarily in Sweden and other Scandinavian countries.
HAKI SAFETY AB 
