Continued good growth for the Group despite a slower quarter in Construction
- Increased EBITA, revenue and order intake on group level
- EBITA impacted by a one-time MSEK 17 non-cash PPA adjustment*
- Integration running according to plan and solid contribution on order intake and revenues from acquired businesses
Third quarter
- Order intake increased by 70% to MSEK 869 (512) with organic growth of 7%
- Revenue increased by 108% to MSEK 980 (471) with organic growth of 6%
- EBITA adj. increased to MSEK 101 (73), margin 10.3% (15.5) negatively impacted by a non-cash adjustment of MSEK 17 related to Avanti Purchase Price Allocation (PPA)*
- EBITA increased to MSEK 82 (80), margin 8.3% (16.9) also negatively impacted by the Avanti PPA adjustment*
- EBIT decreased to MSEK 69 (80), margin 7.0% (16.9)
- Net profit amounted to MSEK 72 (51)
- Earnings per share amounted to SEK 1.33 (1.08)
- Operating cash flow amounted to MSEK 74 (-8)
January-September
- Order intake increased by 85% to MSEK 3,005 (1,625) with organic growth of 12%
- Revenue increased by 103% to MSEK 2,951 (1,451) with organic growth of 11%
- EBITA adj. increased to MSEK 365 (226), margin 12.4% (15.5) negatively impacted by a non-cash adjustment of MSEK 17 related to Avanti Purchase Price Allocation (PPA)*
- EBITA increased to MSEK 338 (232), margin 11.5% (16.0) also negatively impacted by the Avanti PPA adjustment*
- EBIT increased to MSEK 304 (232), margin 10.3% (16.0)
- Net profit amounted to MSEK 201 (146)
- Earnings per share amounted to SEK 3.90 (3.08)
- Operating cash flow amounted to MSEK 162 (89)
Management assessment: If the during Q1 2017 acquired companies, Avanti Wind Systems and Facade Access Group, had been fully consolidated by 1 January 2016, order intake growth during the period January-September 2017 would have been 3% and revenue growth would have been 8% compared to the same period 2016.
*The adjustment relates to the fair value on acquired inventory in Avanti. Normally this fair value effect impacts the income statement (as a cost) during the period when the inventory is sold. However, as the inventory acquired already has been sold the full effect of MSEK 17 has been recorded as a cost in the third quarter.
Telephone conference / Audiocast
A telephone conference / audiocast will be held on Wednesday 25 October at 10.00 CET.
CEO Tormod Gunleiksrud and COO and acting CFO Stefan Rinaldo will present and comment on the report. The presentation, that will be held in English, can also be followed via audiocast.
To participate by phone – please call:
SE: +46856642666
UK: +442030089813
Link to audiocast:
https://tv.streamfabriken.com/alimak-group-q3-2017
For more information, please contact:
Mathilda Eriksson, IR Manager, Phone: +46 (0)8 402 14 41
Stefan Rinaldo, COO and acting CFO, Phone +46 (0)8 402 14 47
This information in this release is such that Alimak Group AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on 25 October 2017.
Alimak Group
Alimak Group is a world-leading provider of vertical access solutions for industrial and construction industries. With presence in more than 100 countries, Alimak develops, manufactures, sells and provides service to vertical access solutions with focus on adding customer value through greater safety, higher productivity and improved cost efficiency. The Group's products and solutions are sold under the brands Alimak Hek, CoxGomyl, Manntech and Avanti. Alimak has an installed base of more than 66,000 elevators, hoists, platforms, service lifts and building maintenance units around the world. Founded in Sweden 1948 Alimak has its headquarters in Stockholm, 12 manufacturing facilities in 8 countries and 2,400 employees around the world. www.alimakgroup.com