BTS GROUP AB (PUBL) INTERIM REPORT JANUARY – JUNE 2024
In This Article:
P R E S S R E L E A S E
Stockholm, August 15, 2024
Continued revenue and profit growth, despite decline in BTS Europe
April 1 – June 30, 2024
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Net sales MSEK 730 (703). Currency adjusted growth +3%.
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EBITA +4%, MSEK 110 (106).
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EBITA margin 15.1 (15.1) %.
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Profit after tax –0.6%, MSEK 60 (61).
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Earnings per share –1%, SEK 3.11 (3.14).
January 1 – June 30, 2024
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Net sales MSEK 1,348 (1,282). Currency adjusted growth +5%.
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EBITA +10%, MSEK 169 (153).
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EBITA margin 12.5 (12.0) %.
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Profit after tax +36%, MSEK 114 (83), excl. the reversed provision of earn-out +2%, MSEK 85 (83).1)
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Earnings per share +36%, SEK 5.86 (4.30), excl. the reversed provision of earn-out +2%, SEK 4.39 (4.30) 1)
FINANCIAL SUMMARY
|
| Apr-Jun | Apr-Jun | Jan-Jun | Jan-Jun | Jul-Jun |
| Jan- Dec |
| MSEK | 2024 | 2023 | 2024 | 2023 | 2023/2024 |
| 2023 |
| Net sales | 730 | 703 | 1 348 | 1 282 | 2 750 |
| 2 683 |
| Currency adjusted growth | 3% | 0% | 5% | 1% | 3% |
| 2% |
| EBITA | 110 | 106 | 169 | 153 | 361 |
| 346 |
| EBITA margin | 15,1% | 15,1% | 12,5% | 12,0% | 13,1% |
| 12,9% |
| EBIT | 95 | 92 | 138 | 128 | 298 |
| 288 |
| EBIT margin | 13,0% | 13,1% | 10,2% | 10,0% | 10,8% |
| 10,7% |
| Profit after tax | 60 | 61 | 114 | 83 | 245 |
| 215 |
| Profit after tax, excluding the reversed provision of earn-out | 60 | 61 | 85 | 83 | 188 | 1) | 186 |
| Cash flow from operating activities | -10 | -4 | 17 | -99 | 282 |
| 166 |
| Earnings per share, SEK | 3,11 | 3,14 | 5,86 | 4,30 | 12,64 |
| 11,08 |
| Net debt (+)/net cash (-) | -76 | -113 | -76 | -113 | -76 |
| -230 |
| Number of employees (EOP) | 1 099 | 1 157 | 1 099 | 1 157 | 1 099 |
| 1 111 |
1) During the first quarter 2024, a provision of earn-out related to the earlier acquisition of RLI was reversed, impacting the net financial items positively by MSEK 29. During the fourth quarter 2023, a provision of earn-out related to the earlier acquisition of MTAC was reversed, impacting the net financial items positively by MSEK 28.
Outlook 2024
The 2024 full-year outlook is unchanged; the result (EBITA) is expected to be better than in 2023.
CEO Jessica Skon comments;
“Overall, BTS continued to develop well in our two largest markets, BTS North America and BTS Other markets, which grew by 12 and 8 percent respectively with a combined EBITA that grew by 23 percent, while revenue in Europe declined by 23 percent in the second quarter. During the summer we strengthened our geographical and service portfolio position with two acquisitions.”
For more information, please contact:
Michael Wallin
Head of investor relations
BTS Group AB
[email protected]
+46-8-587 070 02
+46-708-78 80 19