09:19:53 Europe / Stockholm

Kurs & Likviditet

Kursutveckling och likviditet under dagen för detta pressmeddelande

Prenumeration

Kalender

2024-10-25 Kvartalsrapport 2024-Q3
2024-08-15 Kvartalsrapport 2024-Q2
2024-05-17 X-dag ordinarie utdelning VESTUM 0.00 SEK
2024-05-17 Årsstämma
2024-05-03 Kvartalsrapport 2024-Q1
2024-02-15 Bokslutskommuniké 2023
2023-11-16 Kvartalsrapport 2023-Q3
2023-11-01 Extra Bolagsstämma 2023
2023-08-29 Kvartalsrapport 2023-Q2
2023-05-24 X-dag ordinarie utdelning VESTUM 0.00 SEK
2023-05-23 Årsstämma
2023-05-12 Kvartalsrapport 2023-Q1
2023-02-17 Bokslutskommuniké 2022
2022-11-22 Kvartalsrapport 2022-Q3
2022-08-26 Kvartalsrapport 2022-Q2
2022-05-24 X-dag ordinarie utdelning VESTUM 0.00 SEK
2022-05-23 Årsstämma
2022-05-20 Kvartalsrapport 2022-Q1
2022-02-24 Bokslutskommuniké 2021
2021-12-28 Split VESTUM 1:3
2021-12-17 Extra Bolagsstämma 2021
2021-11-29 Kvartalsrapport 2021-Q3
2021-08-19 Kvartalsrapport 2021-Q2
2021-05-20 Årsstämma
2021-05-07 Kvartalsrapport 2021-Q1
2021-05-03 X-dag ordinarie utdelning VESTUM 0.00 SEK
2021-03-05 Bokslutskommuniké 2020
2020-11-17 Kvartalsrapport 2020-Q3
2020-08-18 Kvartalsrapport 2020-Q2
2020-07-16 Split VESTUM 500:1
2020-06-29 X-dag ordinarie utdelning VESTUM 0.00 SEK
2020-06-26 Årsstämma
2020-05-19 Kvartalsrapport 2020-Q1
2020-03-11 Bokslutskommuniké 2019
2019-11-14 Kvartalsrapport 2019-Q3
2019-08-19 Extra Bolagsstämma 2019
2019-08-19 Kvartalsrapport 2019-Q2
2019-06-28 Årsstämma
2019-06-26 X-dag ordinarie utdelning VESTUM 0.00 SEK
2019-05-15 Kvartalsrapport 2019-Q1
2019-03-22 Bokslutskommuniké 2018
2018-11-27 Kvartalsrapport 2018-Q3
2018-08-29 Kvartalsrapport 2018-Q2
2018-06-27 Årsstämma
2018-05-30 Kvartalsrapport 2018-Q1
2018-05-15 X-dag ordinarie utdelning VESTUM 0.00 SEK
2018-04-12 Extra Bolagsstämma 2018
2018-03-27 Bokslutskommuniké 2017
2017-11-23 Kvartalsrapport 2017-Q3
2017-08-29 Kvartalsrapport 2017-Q2
2017-05-24 X-dag ordinarie utdelning VESTUM 0.00 SEK
2017-05-23 Årsstämma
2017-05-23 Kvartalsrapport 2017-Q1
2017-02-27 Bokslutskommuniké 2016
2016-11-23 Kvartalsrapport 2016-Q3
2016-08-31 Kvartalsrapport 2016-Q2
2016-06-08 Årsstämma
2016-05-24 X-dag ordinarie utdelning VESTUM 0.00 SEK
2016-05-23 Kvartalsrapport 2016-Q1
2016-02-25 Bokslutskommuniké 2015
2015-11-19 Kvartalsrapport 2015-Q3
2015-08-26 Kvartalsrapport 2015-Q2
2015-05-19 X-dag ordinarie utdelning VESTUM 0.00 SEK
2015-05-18 Årsstämma
2015-05-18 Kvartalsrapport 2015-Q1
2015-02-19 Bokslutskommuniké 2014
2014-11-21 Kvartalsrapport 2014-Q3
2014-08-28 Kvartalsrapport 2014-Q2
2014-05-19 X-dag ordinarie utdelning VESTUM 0.00 SEK
2014-05-15 Årsstämma
2014-05-15 Extra Bolagsstämma 2014
2014-05-14 Kvartalsrapport 2014-Q1
2014-02-19 Bokslutskommuniké 2013
2013-11-20 Kvartalsrapport 2013-Q3
2013-09-27 Extra Bolagsstämma 2013
2013-08-28 Kvartalsrapport 2013-Q2
2013-05-15 Kvartalsrapport 2013-Q1
2013-04-24 Bokslutskommuniké 2012
2012-11-23 Extra Bolagsstämma 2012
2012-10-05 X-dag ordinarie utdelning VESTUM 0.00 SEK
2012-03-14 Kvartalsrapport 2012-Q3
2011-12-07 Kvartalsrapport 2012-Q2
2011-10-18 Inlösen VESTUM 5
2011-09-29 Årsstämma
2011-09-14 Kvartalsrapport 2012-Q1
2011-06-01 Bokslutskommuniké 2011
2011-03-09 Kvartalsrapport 2011-Q3
2010-12-03 Kvartalsrapport 2011-Q2
2010-10-11 Inlösen VESTUM 5
2010-09-09 Kvartalsrapport 2011-Q1
2010-06-02 Bokslutskommuniké 2009
2010-06-02 Kvartalsrapport 2010-Q1
2010-02-26 Kvartalsrapport 2009-Q3
2009-12-02 Kvartalsrapport 2009-Q2
2009-10-27 Inlösen VESTUM 5
2009-05-12 Årsstämma
2009-05-12 Kvartalsrapport 2009-Q1
2008-01-02 Split VESTUM 1:2

Beskrivning

LandSverige
ListaMid Cap Stockholm
SektorIndustri
IndustriIndustriprodukter
Vestum är en förvärvsdriven koncern som förvärvar och utvecklar bolag med exponering mot bygg- och anläggning, ROT-sektorn samt infrastrukturentreprenader. Bolaget är primärt verksamt inom Norden. Bolagets vison är att vara med och utveckla bolagen i syfte att driva lönsam tillväxt genom att tillsammans med företagsledning adressera frågor inom strategi, processer och genomförande.
2023-11-16 07:00:00

Highlights of the period July – September 2023
·        Net sales amounted to SEK 1,666 (1,601) million
·        Adjusted EBITA amounted to SEK 161 (171) million, corresponding to an adjusted EBITA margin of 9.7% (10.7%)
·        EBITA amounted to SEK 161 (189) million, corresponding to an EBITA margin of 9.7% (11.8%)
·        EBITA per share before and after dilution amounted to SEK 0.43 (0.51)
·        Operating profit (EBIT) amounted to SEK 78 (110) million
·        Cash flow from operating activities amounted to SEK 279 (31) million
·        Operating cash flow amounted to SEK 315 (109) million, corresponding to a cash conversion of 140% (44%)

Summarising comments by CEO Simon Göthberg
Vestum generated stable net sales and profitability in the third quarter, along with improved cash flow. Operating cash flow improved by SEK 206 million compared to the same period last year, which means that the Group's cash conversion on a rolling 12-month basis increased sequentially between the second and third quarter from 77% to 103%. The rolling 12-month operating cash flow totals SEK 899 million. Net sales for the quarter amounted to SEK 1,666 million and EBITA amounted to SEK 161 million, corresponding to an EBITA margin of 9.7%. The quarter showed organic growth of 1%.

Demand for our products and services has generally been solid, with a total net sales growth of 4%, of which 1% organic. Profitability has been stable with an EBITA of SEK 161 million, compared to SEK 189 million in the same period last year. The comparative quarter was positively impacted by adjustment items of SEK 18 million driven by the revaluation of contingent considerations.

The Infrastructure segment generated stable volumes while the margin weakened compared to the same period last year. As in the second quarter, certain parts of the segment carried out some individual projects with lower result. However, the segment increased its EBITA margin sequentially between the second and third quarter from 8.3% to 9.4%. Within the Services segment, volumes decreased slightly but we successfully improved the EBITA margin compared to the same period last year to 10.3%. The demand for our services is partly driven by a strong underlying need for investments in energy efficiency improvements, but we also note that some operations are affected by the challenging macro environment. Within the Water segment, the need for our water products has been strong, not least in the UK. The water infrastructure sector in the UK is underinvested, which creates good conditions for continued positive development. Demand and profitability were at solid levels with an organic sales growth of 5.8%, while the EBITA margin amounted to a strong 18.8%.

Approximately 40% of Vestum's rolling 12-month EBITA is generated by market-leading product companies in growing niches within civic infrastructure. These businesses often have nationwide customer networks with the potential to sell their products internationally, which creates good growth opportunities. Strong market positions lead to pricing power, which leads to high margins. We continuously work to increase cross-selling between our product companies, while our services companies can increase the product market exposure. This leads to positive synergies.

Operating cash flow amounted to SEK 315 million, corresponding to cash conversion of 140%. We are beginning to see the effects of our efforts to improve the levels of tied-up working capital, which is mainly visible in the change in operating receivables. Financial net debt in relation to EBITDA decreased from 2.9x to 2.8x. Vestum's net debt, including contingent considerations, decreased by SEK 209 million during the quarter, of which interest-bearing net debt of SEK 122 million and contingent considerations of SEK 87 million.

The strategic review that we initiated in the previous quarter is ongoing. The aim is to evaluate opportunities to increase shareholder value. As part of this, we have previously communicated that strategic divestments may be an option. Desirable effects include a stronger balance sheet and a stronger operational and financial profile of the remaining Group. Ultimately, it is about improving margins, strengthening cash flow and reducing operational risks.

The increased uncertainty around the economy remains, and the upcoming quarters are difficult to assess. At the same time, we can state that the infrastructure in our main markets is underinvested and outdated, while growing urban areas are characterised by capacity shortages and the green transition. This, combined with continuously increasing demands from clients regarding quality, sustainability and digitalisation will create great growth opportunities over time for Vestum, which maintains a high degree of specialisation.

The Interim Report is available on Vestum’s website: https://www.vestum.se/en/ir/financial-reports/