Ratos AB: Adjusted EBITA up 28% in the first quarter – sales growth remains favourable
Regulatory Information 2023-04-27
- Adjusted EBITA amounted to SEK 324m (253)
- Operating profit amounted to SEK 285m (5)
- Profit in the year-earlier period was negatively impacted by an unrealised loss of SEK -100m related to the revaluation of shares in Dun & Bradstreet Holding Inc and restructuring costs of SEK -130m attributable to Diab
- Diluted earnings per share amounted to SEK -0.09 (-0.66)
- Cash flow from operating activities amounted to SEK 507m (-379)
- Leverage excluding finance leases was 2.2x (0.9x)
Significant events during and after the end of the quarter
- HL Display, which is part of the Industry business area, acquired the company Akriform Plast AB on 15 February, and the companies Oechsle Display Systems and werba print & display were acquired on 3 April
- During the quarter, Ratos initiated the process for a compulsory buy-out of the remaining shares in Semcon. The process is expected to be completed in the second quarter of 2023
“Adjusted EBITA amounted to SEK 324m (253) for the quarter, up 28%. EBITA was negatively impacted by Plantasjen, whose earnings declined SEK 111m, mainly due to adverse weather in March. The Group’s sales in the quarter increased 26% to SEK 7,817m, of which 8% was organic growth. Demand remained favourable, with a high order intake in the quarter. Our acquired companies performed well and have already created synergies with other group companies. Cash flow improved, and Ratos’s leverage declined to 2.2x.”
Jonas Wiström, President and CEO, Ratos
A presentation of the interim report will be held today at 09.00 CEST. The presentation will be held in English and will also be available as a webcast on Ratos website, www.ratos.com.
The presentation can be followed on Youtube via the following link; https://youtube.com/live/LKaop4fJ4Uk
Participants who wish to ask questions live are asked to pre-register, please send an e-mail to email@example.com in advance for a personal invitation.
Representatives of the media are welcome to contact Josefine Uppling, Vice President Communication, for interview requests.
Stockholm 27 April 2023
President and CEO
For further information, please visit www.ratos.com or contact:
Josefine Uppling, Vice President Communication and Sustainability
+46 76 114 54 21
Jonas Ågrup, CFO and IR
+46 8 700 17 00
Jonas Wiström, President and CEO
+46 8 700 17 00
This is information that Ratos AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 a.m. CEST on 27 April 2023.
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 32 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.