Group Performance in the quarter

Net sales in the quarter increased by 8 percent to SEK 2,554m (2,365). Organic growth, excluding exchange rate changes, amounted to 7 percent. Exchange rate changes had a positive impact of 1 percent on net sales in the quarter, corresponding to SEK 12m.

EBITA increased by 21 percent to SEK 299m (247) and the EBITA margin amounted to 11.7 percent (10.4). Exchange rate changes had a positive impact on EBITA, corresponding to SEK 1m. 

Net financial items amounted to SEK -79m (-66) and profit after financial items amounted to SEK 113m (70). Net financial items mainly include interest costs related to financing of previous acquisitions and exchange rate fluctuations. Net interest amounted to SEK -75m (-72) and exchange rate gains to SEK 3m (2). The profit after tax for the quarter amounted to SEK 72m (33) and the effective tax rate was 38 percent (53). The higher effective tax rate is attributable to the effect of non-deductible interest costs.

 Group Performance in the period

Net sales in the interim period increased by 6 percent to SEK 5,124m (4,822). Organic growth, excluding exchange rate changes, amounted to 5 percent. Exchange rate changes had a positive impact of 1 percent on net sales in the interim period, corresponding to SEK 37m.

EBITA decreased by 4 percent to SEK 590m (613) and the EBITA margin amounted to 11.5 percent (12.7). EBITA include reversal of contingent considerations of SEK 7m (83). Adjusted for this EBITA increased by 10 percent and the EBITA margin amounted to 11.4% (11.0). Exchange rate changes had a positive impact on EBITA, corresponding to SEK 4m.

Net financial items amounted to SEK -165m (-118) and profit after financial items amounted to SEK 213m (276). Net financial items mainly include interest costs related to financing of previous acquisitions and exchange rate fluctuations. Net interest amounted to SEK -148m (-125) and exchange rate gains/-losses to SEK -6m (9). The profit after tax for the period decreased by 35 percent and amounted to SEK 135m (207) and the effective tax rate was 36 percent (25). The higher effective tax rate is attributable to the effect of non-deductible interest costs.

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, regarding inflation, raw material, component, shipping, and energy costs as well as interest rate trends. We follow the development in the Middle East but, at this point in time, our assessment is that this does not have a significant impact on the group.