FOURTH QUARTER (1 OCT-
- Net sales declined by 6 percent to MSEK 1,601 (1,702). Currency-adjusted sales declined by 8 percent.
- Operating profit before depreciation and amortisation (EBITDA) excl. non-recurring items of MSEK 0 (-1) increased by 23 percent to MSEK 209 (170) 1).
- Operating profit increased by 56 percent to MSEK 142 (91) 1), corresponding to an operating margin of 8.9 percent (5.3).
- Profit after financial items rose by 80 percent to MSEK 137 (76).
- Profit after tax amounted to MSEK 119 (58).
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Earnings per share before dilution increased by 70 percent to
SEK 0.51 (0.30). Earnings per share after dilution totalledSEK 0.50 (0.30). 2) - Cash flow from operating activities amounted to MSEK 376 (469). 3)
FINANCIAL YEAR (1 JAN-
- Net sales declined by 11 percent to MSEK 6,139 (6,868). Currency-adjusted sales declined by 15 percent.
- Operating profit before depreciation and amortisation (EBITDA) excl. non-recurring items of MSEK 0 (-30) amounted to MSEK 686 (704) 1).
- Operating profit amounted to MSEK 432 (403) 1), corresponding to an operating margin of 7.0 percent (5.9).
- Profit after financial items totalled MSEK 385 (348).
- Profit after tax amounted to MSEK 292 (243).
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Earnings per share totalled
SEK 1.24 (0.78) before dilution and toSEK 1.23 (0.78) after dilution. 2) - Cash flow from operating activities amounted to MSEK 810 (542). 3)
- The equity/assets ratio at the end of the year was 56 percent (48). 2)
- Net debt excluding lease liabilities amounted to MSEK 45 (399).
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The Board of Directors proposes a dividend of
SEK 0.75 (0.50) per ordinary share for 2023.
1) EBITDA and operating profit for the comparative periods were charged with non-recurring items of MSEK -1 (fourth quarter of 2022) and MSEK -30 and MSEK -40, respectively (full 2022 financial year). Non-recurring items mainly consist of costs relating to transformation work under ITAB's One ITAB strategy.
2) Including Discontinued Operations.
3) Comparative periods have not been restated related to Discontinued Operations.
EVENTS DURING THE FINANCIAL YEAR
- In January, ITAB signed an agreement for the delivery of checkouts and merchandising solutions to a leading European grocery chain for a total value of at least MEUR 12 over three years.
- In February, new partnerships were signed with Rapitag, Signatrix and Theory+Practice with the aim of strengthening ITAB's ecosystem of partners.
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ITAB participated in the world's leading retail trade fair,
EuroShop 2023, in Düsseldorf at the turn of the month February-March. - In March, ITAB launched Onred, a unique technology platform for retailers that links together the Group's portfolio of digital and physical solutions for increased efficiency and an improved store experience.
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In May, ITAB signed an agreement with a leading grocery chain in
Argentina for the delivery of interiors and checkouts for a total value of approximately MEUR 13 MEUR over two year. -
In cooperation with its local partner, ITAB began delivering smart gates for entrance and exit solutions in approximately 650 stores for one of
Australia's largest grocery chains. The value of the installed products amounts to approximately MEUR 25 for the Group over two years. - At the end of September, ITAB initiated a share buyback program with a maximum purchase amount of MSEK 50 until the 2024 Annual General Meeting.
President's comments -
STRONG CONCLUSION OF 2023 WITH HIGH PROFITABILITY
"A good conclusion of 2023 gives the full year the highest operating profit since 2017, strong cash flow and signs of a stabilization of demand. Much work remains to be done but we have taken further steps towards our ambition to be the leading solution provider for the retail sector in
Please read the full President's comments in the Year-End Report.
Jönköping,
Webcast presentation on
ITAB arranges a webcast presentation today,
The information in this report is such that
This report is in all respects a translation of the Swedish original Year-End Report. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.
For further information, please contact:
Andréas Elgaard, President & CEO
Telephone: +46-732 32 16 35
Telephone: +46-70 660 31 32
itab.com, itabgroup.com
AT ITAB we help customers turn consumer brand experience into physical reality with our know-how, solutions, and ecosystem of partners. We co-create with our customers, efficient retail solutions that deliver convenient and inspiring consumer experiences. The offer includes consultative design services, custom-made interiors, checkout systems, consumer guidance solutions, professional lighting systems and interactive digital solutions for the physical store. ITAB has annual sales of approximately
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