First quarter highlights

• Net sales increased to SEK 737.5 million (433.1), corresponding to growth of 70.3 percent. Organic growth was 4.3 percent.
• EBITA increased to SEK 38.6 million (17.7) and the EBITA margin was 5.2 percent (4.1).
• Items affecting comparability1 impacted EBITA by SEK -4.8 million (-9.2). Adjusted EBITA (excluding items affecting comparability) increased to SEK 43.4 million (26.9).
• Earnings for the period amounted to SEK 22.2 million (7.3), earnings per share before and after dilution were SEK 0.48 (0.16).
• Operating cash flow rose to SEK 74.9 million (2.5).
• The order backlog increased to SEK 2,616.0 million (1,409.6).

Significant events during the quarter

• Nine new acquisitions have been completed in the quarter: Miljø-Sanering, Meyer-Mørch, Murpartnern and Malercompagniet Oslo in Norway, and Helsingborgs Fasad & Kakel, Herrängens Plåtslageri, Vantörs Bleck och Plåtslageri, E.P.M. Elektra Plåt och Maskin and Alnova Balkongsystem in Sweden.
• Fasadgruppen has carried out a directed share issue of 3,000,000 shares, generating proceeds of SEK 420 million.

Events after the end of the period

• Five additional acquisitions have been completed: Kjær Knudsen in Denmark, Fjeldheim-Knudsen in Norway, as well as A Co Tak & Montage, GAJ Stålkonstruktioner and Mur o Puts i Kristianstad in Sweden.

Condensed CEO comment from Pål Warolin: “Positive start to the year – strong growth in order backlog”
“As always, the first quarter is clearly our low season, as much of our work cannot be carried out at cold temperatures. Given this background, we have had a positive start to the year in terms of the development of the business. We have also maintained a rapid pace in terms of acquisitions, with nine new businesses added to the Group during the quarter and a further five after the end of the quarter.

Sales in the first quarter amounted to SEK 737.5 million, an increase of 70.3 percent compared with the corresponding quarter in the previous year. Organic growth was 4.3 percent and growth through acquisitions was 66.0 percent. The order backlog increased by 85.6 percent in the quarter, of which organic growth accounted for a good 18.6 percent. The adjusted EBITA margin amounted to 5.9 percent in the quarter, compared with 6.2 percent in the corresponding quarter in the previous year.

In March and April, several of our suppliers announced large price increases for materials as a result of strain on the supply chain linked to the war in Ukraine, combined with high inflation. Maintaining our project margins is a priority that both the Group management and the subsidiary management teams have a strong focus on.

Finally, I would like to mention the share issue that took place in March. We are extremely proud of the confidence and great interest shown in Fasadgruppen despite the current turbulence on the stock market. Our intention with this share issue is to accelerate value creation by maintaining our active acquisition agenda, where we are focusing on growth with quality and profitability.”

Report presentation
CEO Pål Warolin and CFO Casper Tamm will present the report in a conference call and webcast today 12 May 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 5055 8350
UK: +44 3333 009 266

Webcast link: https://tv.streamfabriken.com/fasadgruppen-group-q1-2022

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