Regulatory

Alimak Group: Interim report January – September 2023

New heights for profit and cash flow

  • Adjusted EBITA-margin of 16.1%, up from 13.7%. Aggregated EBITA increased by 7%*
  • Revenue of MSEK 1,730, representing an increase of 58% and 1% organically
  • Order intake of MSEK 1,678, representing an increase of 55% and a decrease of 4% organically
  • Outstanding cash flow from operations of MSEK 390
  • Deleveraging to net debt/EBITDA of 2.53 (2.47, incl R12 months Tractel EBITDA)

Third quarter

  • Order intake increased by 55% to MSEK 1,678 (1,086), corresponding to an organic decrease of 4%. Construction and Wind had strong growth, whilst Facade Access faced delayed award decisions, due to high interest rates. Acquisitions contributed with 55%.
  • Revenue increased by 58% to MSEK 1,730 (1,095), corresponding to an organic growth of 1%, with solid contributions from Industrial and Wind. Acquisitions contributed with 53%.
  • EBITA adjusted for the quarter was MSEK 279 (150), corresponding to a margin of 16.1% (13.7).
  • The aggregated* adjusted EBITA compared to Q3 2022 increased by 7%.
  • EBITA as reported amounted to MSEK 312 (118), including items affecting comparability of MSEK 34 (-32). Most of the MSEK 34 is related to an adjusted earn-out payment related to the Tall Crane acquisition and a US government Covid-19 grant.
  • EBIT amounted to MSEK 256 (107).
  • Earnings per share basic, SEK 1.32 (1.08) and diluted to SEK 1.32 (1.08).
  • Cash flow from operations was MSEK 390 (134), due to higher earnings and improved working capital management.

January – September

  • Order intake increased by 57% to MSEK 5,330 (3,388), corresponding to an organic decrease of 5%, mainly impacted by Facade Access, while Wind and Construction had robust growth. Acquisitions contributed with 57%.
  • Revenue increased by 69% to MSEK 5,259 (3,109), an organic growth of 5% with strong contributions from Industrial and Wind. Acquisitions contributed with 59%.
  • EBITA adjusted for the period was MSEK 862 (398), corresponding to a margin of 16.4% (12.8). The increase was driven by strong operational performance and the Tractel acquisition.
  • The aggregated* adjusted EBITA compared to 2022 increased by 15%, reflecting higher revenue and improved operational performance.
  • EBITA as reported, amounted to MSEK 887 (366) including items affecting comparability of MSEK 25 (-32).
  • EBIT amounted to MSEK 740 (338).
  • Earnings per share basic, SEK 4.14 (3.45) and diluted to SEK 4.14 (3.45).
  • Cash flow from operations was MSEK 704 (207).
  • Net debt/EBITDA at 2.53 (2.47, incl R12 months Tractel EBITDA).

* Aggregated numbers as if Tractel was acquired as of 1 January 2022.

Telephone conference / presentation

A conference for investors, analysts and financial media will be held at 10.00 CEST on Tuesday 24 October. 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-q3-2023

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=2001145

For more information, please contact:
Sylvain Grange, CFO, Alimak Group
sylvain.grange@alimakgroup.com

Johnny Nylund, CCO, Alimak Group, +46 76 852 5759
johnny.nylund@alimakgroup.com

About Alimak Group
Alimak Group is a global provider of sustainable vertical access and working at height solutions, listed on Nasdaq Stockholm. With presence in more than 120 countries, the Group develops, manufactures, sells and services vertical access and working at height solutions with focus on adding customer value through enhanced safety, higher productivity and improved cost efficiency. The Group has a large installed base of elevators, service lifts, temporary and permanent hoists and platforms and building maintenance units around the world. The solutions portfolio also comprises of height safety protective equipment, load measurement & control, lifting & handling, and a global after-sales business model, with recurring revenue from spare parts and services such as inspection, certification, maintenance, refurbishments, replacements and training. Founded in Sweden 1948, the Group has its headquarters in Stockholm, 24 production and assembly facilities in 15 countries and approximately 3,000 employees. corporate.alimakgroup.com

This information is information that Alimak Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-10-24 08:00 CEST.

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