Group Performance in the quarter

Net sales in the quarter increased by 1 percent to SEK 2,344m (2,319). Organic growth, excluding exchange rate effects, was 3 percent and the acquired growth was 1 percent. Exchange rate effects negatively impacted net sales by 3 percent in the quarter, corresponding to SEK 59m.

EBITA decreased by 9 percent to SEK 223m (244) and the EBITA-margin was 9.5 percent (10.5). EBITA for the quarter was negatively affected by a revalued contingent consideration of SEK 3 m and restructuring costs of SEK 4m. The previous year's interim period was positively affected by revalued contingent considerations of SEK 17m. Excluding these, EBITA for the quarter amounted to SEK 230m (227) and the EBITA-margin amounted to 9.8 percent (9.8). Exchange rate fluctuations negatively impacted EBITA by SEK 7m. 

Net financial items amounted to SEK -72m (-71) and profit after financial items amounted to SEK 42m (61). Net financial items primarily include interest expenses related to financing of previous acquisitions and exchange rate fluctuations. Net interest amounted to SEK -77m (-71) and exchange rate gains to SEK 8m (5). The profit after tax for the quarter was SEK 25m (26) and the effective tax rate was 40 percent (57). The high effective tax rate is attributable to the effect of non-deductible interest.

 Group Performance in the period

Net sales for the interim period increased by 5 percent to SEK 7,468m (7,141). Organic growth, excluding exchange rate effects, was 5 percent. Exchange rate fluctuations and acquisitions had a marginally negative impact on net sales during the interim period, corresponding to SEK 22m.

EBITA decreased by 5 percent to SEK 813m (857) and the EBITA-margin amounted to 10.9 percent (12.0). During the interim period, EBITA was affected by a total of SEK -6m (101) from revalued contingent considerations and restructuring costs. Excluding these EBITA increased by 8 percent and the EBITA-margin amounted to 11.0 percent (10.6). Exchange rate fluctuations had a marginally negative impact on EBITA, corresponding to SEK 3m.

Net financial items amounted to SEK -237m (-189) and profit after financial items was SEK 255m (337). Net financial items include interest costs related to financing of previous acquisitions and exchange rate fluctuations. Net interest amounted to SEK -225m (-196) and exchange rate gains to SEK 1m (14). The profit after tax for the period was SEK 160m (233) and the effective tax rate was 37 percent (31). The high effective tax rate is attributable to the effect of non-deductible interest.

The geopolitical situation in Ukraine and the Middle East has not had any significant financial impact on the financial reports, but it cannot be ruled out that this will happen in the future. We are closely monitoring market developments regarding inflation, raw material, component, freight, and energy costs, as well as interest rate trends.