Group development in the quarter
Net sales in the quarter decreased by 9 percent to SEK 2,079m (2,276). The acquired growth totalled 13 percent and organic growth, excluding COVID-19 amounted to 4 percent. Net sales related to COVID-19 decreased significantly to SEK 87m (704). Exchange rate changes had a positive impact of 2 percent on net sales in the quarter, corresponding to SEK 57m.
EBITA decreased by 28 percent to SEK 240m (332) and EBITA-margin amounted to 11.6 percent (14.6). Development cost regarding digital solutions for self-monitoring has had a negative impact on the result of SEK 11m in the Medtech business area. Exchange rate changes had a positive effect on EBITA, corresponding to SEK 6m.
Net financial items amounted to SEK -44m (-16) and profit after financial items amounted to SEK 94m (237). The increased negative net financial items is due to interest costs related to the acquisitions and exchange rate fluctuations. Interest expenses amounted to SEK 22m and exchange rate losses to SEK 27m. Exchange rate losses are related to recalculation of loans and contingent considerations in foreign currencies. Profit after tax for the quarter decreased by 57 percent to SEK 76m (178) and the effective tax rate was 19 percent (25). The decreased effective tax rate is due to non-deductible transaction related costs in the quarter last year.
Group development in the interim period
Net sales in the interim period increased by 16 percent to SEK 4,658m (4,012). Acquired growth totalled 30 percent and organic growth, excluding COVID-19 amounted to 3 percent. Net sales related to COVID-19 decreased significantly to SEK 546m (1,323). Exchange rate changes had a positive impact on net sales of 3 percent, corresponding to SEK 148m.
EBITA increased by 3 percent to SEK 675m (658) and EBITA-margin amounted to 14.5 percent (16.4). Development cost regarding digital solutions for self-monitoring has had a negative impact on the result of SEK 14m in the Medtech business area. Exchange rate changes had a positive effect on EBITA, corresponding to SEK 21m.
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Dynamisk graf:
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Throughout the COVID-19 pandemic, AddLife has supplied large volumes of products to the healthcare sector for treatment of COVID-19. Sales since the first quarter of 2020 have varied based on the spread of infection and restrictions in our societies. |
Net financial items amounted to SEK -93m (-20) and profit after financial items amounted to SEK 383m (524). The increased negative net financial items is due to interest costs related to the acquisitions as well as exchange rate losses. Interest expenses amounted to SEK 43m and exchange rate losses to SEK 52m. Exchange rate losses are related to recalculation of loans and contingent considerations in foreign currencies. Profit after tax decreased with 26 percent amounting to SEK 301m (404) and the effective tax rate was 21 percent (23).
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Dynamisk graf:
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Sales in the Nordic markets amounted to 35 percent of total net sales compared to 49 percent last year (full year 2021). The change in geographical markets is due to the acquisitions in Europe during 2021-2022.
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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 and shipping costs and greater uncertainty about interest rate developments.