Group development in the quarter
Net sales in the quarter decreased by 5 percent to SEK 2,457m (2,579). The acquired growth totalled 2 percent and organic growth, excluding COVID-19 amounted to 12 percent. Net sales related to COVID-19 has now ceased and is reported as SEK 0m (510). Exchange rate changes had a positive impact of 4 percent on net sales in the quarter, corresponding to SEK 101m.
EBITA decreased by 16 percent to SEK 366m (435) and EBITA-margin amounted to 14.9 percent (16.9). Reversal of previously allowance for contingent consideration has had a positive impact on the operating profit of SEK 83m. Exchange rate changes had a positive effect on EBITA, corresponding to SEK 13m.
Dynamisk graf: Covid-19 related sales
¹Correction of accrual between Q1 and Q2 2022
Net financial items amounted to SEK -52m (-49) and profit after financial items amounted to SEK 206m (289). Net financial items include interest costs related to financing of previous acquisitions and exchange rate fluctuations. Interest expenses amounted to SEK 55m (21) and exchange rate gains to SEK 6m (-28). Exchange rate changes are related to recalculation of loans and contingent considerations in foreign currencies. Profit after tax for the quarter decreased by 23 percent to SEK 174m (225) and the effective tax rate was 16 percent (22). The large difference in effective tax is due to the reversal of the contingent consideration made in the quarter.
Dynamisk graf: Net Sales per market 2023
Dynamisk graf: Net Sales per market 2022
The war in Ukraine has not had a significant economic impact on the financial reports, but it can not be ruled out that this will happen in the future. We follow market developments closely, where we notice rising inflation, higher raw material, shipping costs and energy costs and greater uncertainty about interest rate developments.