Interim report 1 January – 30 September 2022
Growth in a changing market
1 JULY – 30 SEPTEMBER 2022 (3 MONTHS)
- Net sales increased by 14 percent to SEK 2,100m (1,850), of which acquired growth amounted to 16 percent. The COVID-19 related net sales decreased by 50 percent. The organic growth, excluding net sales related to COVID-19, was 2 percent.
- EBITA increased by 1 percent to SEK 288m (286), corresponding to an EBITA-margin of 13.7 percent (15.5). EBITA includes a reversed contingent consideration of SEK 85m, excluding this, EBITA margin amounted to 9.7 percent.
- Profit after tax decreased by 13 percent to SEK 120m (139).
- Earnings per share amounted to SEK 0.99 (1.13).
- Cash flow from operating activities amounted to SEK 20m (233) due to expected and temporarily higher inventory.
- During the quarter AddLife renegotiated credit facilities corresponding to SEK 2.2 billion, which now are due in three years with an extension option of up to 24 additional months.
- During the quarter, one acquisition, JK Lab Nordic AB, was completed. The acquisition is estimated to contribute with annual net sales of approximately SEK 25m.
1 JANUARY – 30 SEPTEMBER 2022 (9 MONTHS)
- Net sales increased by 15 percent to SEK 6,758m (5,862), of which acquired growth amounted to 25 percent. The COVID-19 related net sales decreased by 57 percent. The organic growth, excluding net sales related to COVID-19, was 3 percent.
- EBITA increased by 2 percent to SEK 963m (944), corresponding to an EBITA-margin of 14.3 percent (16.1). EBITA includes a reversed contingent consideration of SEK 85m, excluding this, EBITA margin amounted to 13.0 percent.
- Profit after tax decreased by 22 percent to SEK 421m (543).
- Earnings per share amounted to SEK 3.46 (4.58). Earnings per share for the last 12 months amounted to SEK 4.92 (6.03).
- Cash flow from operating activities amounted to SEK 558m (617).
- The equity ratio was 37 percent (40).
- Return on working capital (P/WC) amounted to 69 percent (95).
- During the interim period, five acquisitions were completed. The acquisitions are expected to contribute with annual net sales of approximately SEK 850m.
| 3 months ending | 9 months ending | 12 months ending | ||||||
|---|---|---|---|---|---|---|---|---|
| SEKm | 30 Sep 22 | 30 Sep 21 | change | 30 Sep 22 | 30 Sep 21 | change | 30 Sep 22 | 31 Dec 21 |
| Net sales | 2,100 | 1,850 | 14% | 6,758 | 5,862 | 15% | 8,889 | 7,993 |
| EBITA | 288 | 286 | 1% | 963 | 944 | 2% | 1,292 | 1,273 |
| EBITA-margin, % | 13.7% | 15.5% | 14.3% | 16.1% | 14.5% | 15.9% | ||
| Profit before tax | 142 | 180 | -21% | 525 | 704 | -25% | 748 | 927 |
| Profit for the period | 120 | 139 | -13% | 421 | 543 | -22% | 599 | 721 |
| Earnings per share before dilution, SEK | 0.99 | 1.13 | -12% | 3.46 | 4.58 | -24% | 4.92 | 6.03 |
| Earnings per share after dilution, SEK | 0.98 | 1.13 | -13% | 3.45 | 4.56 | -24% | 4.90 | 6.01 |
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Dynamisk graf: Net sales (SEKm)
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Dynamisk graf: EBITA (SEKm)
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ADDLIFE IN BRIEF
AddLife is an independent provider in Life Science that offers high-quality products, services and advice to both the private and public sector in Europe. The group is divided into two business areas: Labtech and Medtech. The group comprises some 85 operating subsidiaries that provide equipment, instruments, medical devices and reagents, as well as advice and technical support to customers primarily in healthcare, research and academia, along with the food and pharmaceutical industries.
CONFERENCE CALL
Investors, analysts and the media are invited to a conference call where CEO Fredrik Dalborg and CFO Christina Rubenhag will present the interim report. The presentation will be held in English and takes about 20 minutes, after which there will be an opportunity to ask questions. It will be recorded and made available online. If this is your first time using Teams, you will be asked to download an app.
The teleconference will be at 10:00 a.m. on October 27th, 2022
If you wish to participate via teleconference, please follow this link>>
Or call in (only sound) +46 8 505 376 58 Conferens-ID: 427 903 522#
The presentation is also available on AddLife YouTube >>