FIRST QUARTER, JANUARY-MARCH
- The Group's net sales amounted to
SEK 461.7 (380.2) million, an increase of 21 percent. -
The Group's EBITA was
SEK 88.5 (45.3) million, an increase of 95 percent. Adjusted for items affecting comparability*), the increase was 46 percent. - The EBITA margin was 19.2 (11.9) percent. The EBITA margin adjusted for items affecting comparability*) in the comparative period was 16.0 percent.
-
Profit after tax amounted to
SEK 56.0 (24.8) million. -
Earnings per share amounted to
SEK 3.8 (1.7). -
Cash flow from operating activities was
SEK 92.4 (52.5) million.
First quarter
The Group delivered good growth and a strong increase in earnings in the first quarter of the year. Sales increased by 21 percent as a result of acquisitions and organic growth of 12 percent. Both MedTech and Assistive Tech showed strong growth, while Speciality Pharma reported a slight decline in sales. Demand and market conditions were generally favourable for the Group's companies.
The Assistive Tech business area delivered a strong increase in sales during the quarter, driven by the Swedelift acquisition and high demand in the area of cognition.
Speciality Pharma had a more challenging quarter as competition for Melatonin intensified in the
Overall, the Group delivered a strong first quarter with high sales growth and a significant increase in earnings. Adjusted EBITA for the quarter increased by as much as 46 percent, despite weaker earnings for specialty pharmaceuticals.
Acquisitions
In the first quarter, a small add-on acquisition was made for Abilia. The acquisition broadens the portfolio in welfare technology and is expected to develop well through Abilia's market position. The Group continuously drives the process of evaluating acquisitions - both by working with management of each subsidiary to identify add-on acquisitions and by evaluating new areas of business and companies. We conduct dialogue with both large and small companies, mainly based in northern
In summary
We can be pleased that most of the Group's business areas have experienced good demand and that organic growth has remained solid in the quarter.
There are always challenges and in the previous year these included lower sales for Multi-Ply and the integration of acquisitions. We can now see that these have all been successfully resolved. Now focus is on the relocation of Inpac's operations to a new production facility and to accelerate business development within Specialty Pharma.
Together with the respective management of the Group's companies we are focusing on both improving and developing the existing businesses, while identifying and realising new business.
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