1 April - 31 December 2013 (9 months)
- Net sales rose by 12 percent to SEK 4,411 million (3,940).
- Operating profit rose by 12 percent to SEK 364 million (326) and the operating margin amounted to 8.3 (8.3).
- Profit after financial items rose by 11 percent to SEK 344 million (309) and profit after tax rose by 1 percent at SEK 269 million (250).
- Earnings per share (EPS) totalled SEK 4.00 (3.80). For the latest 12-month-period, EPS amounted to SEK 5.10 (5.00).
- Cash flow from operations reached SEK 375 million (295). For the latest 12-month-period, cash flow per share was SEK 6.35 (6.50).
- Return on equity was 30 percent (33) and the equity ratio was 36 percent (36).
- A share split took place, in which each share was divided into three (3) shares.
- Since the start of the financial year five acquisitions made by the group have taken effect, adding sales of about SEK 300 million on an annual basis.
1 October - 31 December 2013 (3 months)
During the third quarter, net sales rose by 6 percent to SEK 1,502 million (1,415).
Operating profit rose by 4 percent to SEK 110 million (106) and operating margin amounted to 7.3 percent (7.5).
- Earnings per share amounted to SEK 1.30 (1.45) during the quarter.
Net sales in the Addtech Group rose by 12 percent during the first nine months of the financial year to SEK 4,411 million (3,940). Comparable units reported unchanged sales, while acquired growth reached 13 percent. Exchange rate changes had an adverse effect of 1 percent of revenue, corresponding to SEK 26 million, and an adverse effect of 1 percent on operating profit, corresponding to SEK 3 million.
Net sales in the third quarter rose by 6 percent to SEK 1,502 million (1,415). Comparable units fell 4 percent and acquired growth totalled 10 percent. Exchange rate changes had a marginal effect on net sales and operating profit.
Demand for production components from Nordic manufacturing companies was uneven during the nine-month period. There have been substantial variations between different geographic markets, customer segments and product niches. This above all affected the Components and Industrial Solutions business areas, in which parts of our operations enjoyed good demand, while others continued to experience tougher business conditions.
Generally speaking, the business climate was more positive and slightly more stable during the latest quarter than in the first six months of the financial year. Despite this, sales did not increase at the same rate due to a number of customers adopting a cautious approach to purchasing before the turn of the calendar year. These postponed deliveries, for example to manufacturing customers and certain customers in the electrical power segment, above all affected our Components and Energy business areas. Many of the Group's manufacturing customers had a long break over Christmas and New Year, as did our own production units in the Industrial Solutions business area. In general, demand for the Life Science business area continued to develop well.
In the various geographic markets the business situation for the Group's operations has on the whole improved slightly in both Sweden and Denmark. The Norwegian market is stable at a high level, and the Group's operations in Finland that have manufacturing customers have noticed a decrease in demand. The Group's companies that operate in markets outside the Nordics have enjoyed very positive development.
The Group's ownership of five acquisitions has commenced since the start of the financial year, representing annual sales of about SEK 300 million.
During the interim period, operating profit increased by 12 percent to SEK 364 million (326) and the operating margin stood at 8.3 percent (8.3). The operating margin before amortisation of intangible non-current assets equalled 9.6 percent (9.4). Net financial items were SEK -20 million (-17) and profit after financial items increased by 11 percent to SEK 344 million (309).
During the third quarter, operating profit rose 4 percent to SEK 110 million (106), and profit after financial items to SEK 103 million (98).
Profit after tax for the interim period rose by 1 percent to SEK 269 million (250) and EPS rose to SEK 4.00 (3.80). The effective tax rate was 22 percent (19). The changed tax rate in Norway and Finland in 2014 resulted in a preliminary reduction of SEK 4 million (net) in deferred tax. In the preceding year, deferred tax has been lowered by a corresponding SEK 24 million, as a result of a reduced tax rate in Sweden in 2013. Excluding these changes, the effective tax rate for the period would have amounted to 23 percent (27).