Correction of headline in press release regarding Interim Report 1 January — 31 March 2023
In the press released sent out on April 28, 2023, 08:30, the wrong year was stated in the headline. The correct year for the interim report for the first quarter is 2023. This has been corrected in this press release, which in all other aspects is the same as the previously distributed press release.
ROBUST GROWTH AND IMPROVED EBITA
“Addnode Group started 2023 strongly, with robust growth and improved EBITA. Demand is good on most of our markets. Net sales were up by 49 per cent to SEK 1,972 m, and currency-adjusted organic growth amounted to 19 per cent.”
Johan Andersson
President and CEO
FIRST QUARTER SUMMARY, JANUARY–MARCH 2023
- Net sales increased by 49 per cent to SEK 1,972 m (1,326), of which 22 per cent was organic. Currency-adjusted organic growth was 19 per cent.
- EBITA increased to SEK 202 m (180), and the EBITA margin was 10.2 per cent (13.6). In the previous year, EBITA included a capital gain of SEK 24 m from a property sale. Excluding this property sale, EBITA would have been SEK 156 m, with an adjusted EBITA margin of 11.8 per cent.
- Operating profit rose to SEK 149 m (134), and the operating margin was 7.6 per cent (10.1).
- Profit for the period amounted to SEK 104 m (106).
- Earnings per share amounted to SEK 0.78 (0.79).
- Cash flow from operating activities increased to SEK 269 m (242).
- Acquisition of FAST2 Affärssystem in Sweden, with net sales of approximately SEK 80 m.
- Acquisition of Key Performance, with net sales of approximately SEK 25 m, and operations in the USA and Sweden.
- Addnode Group advances to the Large Cap segment of Nasdaq Stockholm.
- The Board of Directors decided to amend the dividend policy to 30-50 per cent of the Group’s profit after tax.
SUMMARY OF SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD
- Addnode Group’s CFO has reported that she will be leaving her position at the latest by October 2023. The recruitment of a successor is ongoing.