Second quarter highlights

• Net sales increased to SEK 1,217.1 million (676.9), corresponding to growth of 79.8 percent. Organic growth was 4.3 percent.
• EBITA increased to SEK 116.7 million (68.0) and the EBITA margin was 9.6 percent (10.0).
• Items affecting comparability impacted EBITA by SEK -6.9 million (-6.8). Adjusted EBITA (excluding items affecting comparability) increased to SEK 123.5 million (74.7).
• Earnings for the period increased to SEK 76.7 million (45.2), earnings per share before and after dilution were SEK 1.58 (1.00).
• Operating cash flow totalled SEK -8.2 million (62.4).
• The order backlog increased to SEK 3,129.5 million (1,745.5).

First half highlights

• Net sales increased to SEK 1,954.6 million (1,110.0), corresponding to growth of 76.1 percent. Organic growth was 4.3 percent.
• EBITA increased to SEK 155.3 million (85.6) and the EBITA margin was 7.9 percent (7.7).
• Items affecting comparability impacted EBITA by SEK -11.7 million (-16.0). Adjusted EBITA (excluding items affecting comparability) increased to SEK 167.0 million (101.6).
• Earnings for the period increased to SEK 98.9 million (52.5), earnings per share before and after dilution were SEK 2.09 (1.16).
• Operating cash flow totalled SEK 66.7 million (64.9).

Significant events during the quarter

• Seven acquisitions have been completed: Kjær Knudsen and Stenklint in Denmark, Fjeldheim-Knudsen and
  Chem-Con in Norway, and A Co Tak & Montage, GAJ Stålkonstruktioner and Mur o Puts i Kristianstad in Sweden.
• Ulrika Dellby was elected Chair of the Board of Fasadgruppen at the 2022 Annual General Meeting.

Events after the end of the period

• Two further acquisitions have been completed: Altana in Denmark and RKC Construction, which establishes Fasadgruppen in Finland.

Condensed CEO comment from Pål Warolin: “Profitable growth and strong order backlog”
“I am pleased to report that Fasadgruppen continued to deliver profitable growth in a quarter of significant turbulence in the world around us. The growth in our order backlog was particularly positive and underlines Fasadgruppen’s market-leading position in façade renovation, a market that has historically proven stable even in difficult times.

Sales in the second quarter amounted to SEK 1,217.1 million, an increase of 79.8 percent compared with the corresponding quarter in the previous year. Organic growth was 4.3 percent and growth through acquisitions was 75.5 percent. The order backlog increased by 79.3 percent, with organic growth accounting for 26.6 percent. The adjusted EBITA margin was 10.2 percent for the quarter, which is in line with our long-term financial target.

Our suppliers have implemented major price increases for materials during the quarter. However, we have been overall successful in maintaining our project margins and see that our customers mostly understand and accept that the price situation is higher than before.

With the combination of a stable underlying market, a market-leading position and excellent craftmanship, we are in a good position to continue delivering profitable growth over time.”

Report presentation
CEO Pål Warolin and CFO Casper Tamm will present the report in a conference call and webcast today 16 August at 08:15 CEST. The presentation will be held in English and will be concluded with a Q&A session.

Dial-ins for conference call:
SE: +46 8 505 163 86
UK: +44 20 319 84884
PIN code: 7351608#

Link to webcast:
https://tv.streamfabriken.com/fasadgruppen-group-q2-2022 

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