Alimak Group: Q4 and Year-end report 2022

– Successful closing of the Tractel acquisition, consolidated as of November 21
– Strong order intake, an increase of 53% and 12% organically
– Adjusted EBITA-margin of 15.5%
– Strong cash flow from operations of MSEK 293
– Board of Directors proposes an ordinary dividend for 2022 of SEK 3.65 (3.30) per share

Fourth quarter
– Order intake increased by 53% to MSEK 1,396 (912). Acquisitions had a positive impact of 28%. Organic growth of 12%, mainly driven by Construction and Industrial
– Revenue increased by 36% to MSEK 1,403 (1,028). Acquisitions had a positive impact of 25%. Organic growth was flat, impacted by continued challenging market conditions for the Wind division and due to deferred equipment deliveries in the US in Facade Access
– EBITA adjusted increased to MSEK 217 (143), a margin of 15.5% (13.9), with contribution from Tractel acquisition
– EBITA as reported, amounted to MSEK 237 (143) including items affecting comparability of MSEK 19 (0) in the quarter, consisting of transaction related costs of MSEK -14 and positive impact from US government COVID-19 grant MSEK 33
– Earnings per share, basic and diluted, increased to SEK 2.43 (1.70)
– Cash flow from operations was MSEK 293 (139) driven by improved earnings and reduced working capital
– Acquisition of Tractel completed, EV MEUR 500, approximately BSEK 5.5, net of cash. After completion of the planned rights issue and repayment of bridge loan, Net debt/EBITDA is expected to be at approximately 3.0x when including 12 months of Tractel

January – December
– Order intake increased by 27% to MSEK 4,784 (3,772). Acquisitions had a positive impact of 8%. Organic growth of 9%, driven by growth in Facade Access, Construction and Industrial
– Revenue increased by 21% to MSEK 4,512 (3,728). Acquisitions had a positive impact of 8%. Organic growth of 3%, impacted by continued challenging market conditions for the Wind division
– Service revenue increased by 10% organically
– EBITA adjusted increased to MSEK 616 (483), with a margin of 13.6% (13.0)
– EBITA as reported, increased to 603 (483) including items affecting comparability of MSEK -13 (0), mainly transaction related costs of MSEK -46 and positive impact from US government COVID-19 grant of MSEK 33 
– Earnings per share, basic and diluted, increased to SEK 7.04 (5.68)
– Cash flow from operations was MSEK 501 (646) impacted by increased trade receivables, inventory build-up and increased contract assets from the first half of 2022
– The Board of Directors proposes an ordinary dividend for 2022 of SEK 3.65 (3.30) per share based on the current number of outstanding shares

Telephone conference / Presentation
A teleconference for investors, analysts and financial media will be held at 09.00 CET on Friday February 17. CEO Ole Kristian Jødahl and CFO Sylvain Grange will present and comment on the report. The presentation, held in English, can also be followed via webcast.

If you wish to participate via webcast, please use the link below. Via the webcast you will be able to ask written questions.
https://ir.financialhearings.com/alimak-group-q4-2022

If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.

https://conference.financialhearings.com/teleconference/?id=5009609