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Beskrivning

LandSverige
ListaMid Cap Stockholm
SektorIndustri
IndustriAnläggning & bygg
Fasadgruppen är en helhetsleverantör inom fasadlösningar med en aktiv förvärvsstrategi. Verksamheten bygger på lokalt förankrade entreprenörsdrivna dotterbolag med tydligt fokus på samverkan, engagemang och kompetens. Tjänsterna som bolaget erbjuder runtom den nordiska hemmamarknaden omfattar bland annat fasadrenovering, fönsterbyten, balkong- och takrenovering. Bland kunderna återfinns fastighetsägare, bostadsrättsföreningar och byggföretag.
2021-08-19 07:30:00

Second quarter highlights

  • Net sales increased to SEK 676.9 million (326.4), corresponding to growth of 107.4 percent. Organic growth was 9.6 percent.
  • EBITA increased to SEK 68.0 million (22.4) and the EBITA margin was 10.0 percent (6.9).
  • Items affecting comparability impacted earnings negatively by SEK -6.8 million (-7.9). Adjusted EBITA (excluding items affecting comparability) increased to SEK 74.7 million (30.2).
  • Earnings for the period amounted to SEK 45.2 million (16.9), earnings per share before dilution amounted to SEK 1.00 (0.56) and earnings per share after dilution were SEK 1.00 (0.54).
  • Operating cash flow rose to SEK 62.4 million (11.7).
  • The order book increased to SEK 1,745.5 million (874.0), corresponding to growth of 99.7 percent.

First six months highlights

  • Net sales increased to SEK 1,110.0 million (589.0), corresponding to growth of 88.5 percent. Organic growth was 1.5 percent.
  • EBITA increased to SEK 85.6 million (46.9) and the EBITA margin was 7.7 percent (8.0).
  • Items affecting comparability impacted earnings negatively by SEK -16.0 million (-5.3). Adjusted EBITA (excluding items affecting comparability) increased to SEK 101.6 million (52.1).
  • Earnings for the period amounted to SEK 52.5 million (33.4), earnings per share before dilution amounted to SEK 1.16 (1.24) and earnings per share after dilution were SEK 1.16 (1.20).
  • Operating cash flow rose to SEK 64.9 million (48.2).

Significant events during the quarter

  • Five new acquisitions have been signed in the quarter. RSM Fasade and Rogaland Blikk in Norway, Byens Tag & Facade in Denmark, plus Engman Tak and Åby Fasad in Sweden.
  • Fasadgruppen subsidiary company SmartFront has been contracted by Riksbyggen to perform comprehensive exterior renovation work and energy efficiency improvements at eight properties with a total of 98 apartments in Linköping.

Events after the end of the period

  • Fasadgruppen has joined the Global Compact initiative.
  • Three additional acquisitions have been completed: Eklunds Glas, Er-Jill and Husby Takplåtslageri.
  • Fasadgruppen subsidiary company DVS Entreprenør has been contracted to perform comprehensive renovation work on 142 townhouses outside Oslo.

CEO Pål Warolin comments the quarter: “Growth and profitability driven by high activity”
”Following the cold winter that brought low levels of project work with it, all our businesses are in full flow again and it feels great to be able to report positive growth figures after a year of negative organic growth. We are also continuing to acquire new businesses at a rapid pace.

Sales in the second quarter amounted to SEK 676.9 million, an increase of 107 percent compared to the corresponding quarter in the previous year. Organic growth was 10 percent and growth through acquisitions 98 percent. It bears repeating that in normal circumstances, one can expect to see stable low growth on the market and this is also where our organic growth should be found when the biggest societal effects of the pandemic have subsided. It is too early to say that we have reached that point now, but given our organic growth figures have gradually improved over the past four quarters, we view this development with confidence. The order book provides additional reassurance and as of 30 June, amounted to 94 percent of sales over the past 12 months. Adjusted EBITA margin amounted to 11.0 percent in the quarter, compared to 9.3 percent in the previous year. In the case of the comparison period, the margin was affected by weak sales growth as a consequence of the Covid-19 pandemic.

We are continuing our focused work on the M&A side, leveraging the strong momentum we have experienced following the IPO in December that raised the awareness of our profile and ambitions. Year to date, including acquisitions after the end of the quarter, we have acquired 13 businesses with estimated combined annual sales of around SEK 860 million.

At the time of publishing this interim report, we are half way through the third quarter, where July as usual stands out as a holiday month, but where activities have recommenced in August. We notice an overall good demand for our services, which in combination with our active M&A strategy provide solid conditions for strengthening our position as the leading façade group in the Nordic region.”

Report presentation
CEO Pål Warolin and CFO Casper Tamm will present the report in a conference call and webcast today 19 August at 08:15 CEST. The presentation will be held in Swedish with presentation material in English and will be concluded with a Q&A session.

Dial-ins for conference call:
SE: +46 8 566 427 05
UK: +44 3333 009 267

Webcast link: https://tv.streamfabriken.com/fasadgruppen-group-q2-2021

A recording of the presentation will be available at www.fasadgruppen.se.