Group development in the quarter
Net sales in the quarter increased by 9 percent to SEK 2,326m (2,131). The acquired growth totalled 12 percent and organic growth, excluding COVID-19 amounted to 6 percent. Net sales related to COVID-19 decreased significantly to SEK 64m (355). Exchange rate changes had a positive impact of 6 percent on net sales in the quarter, corresponding to SEK 122m.
EBITA decreased by 22 percent to SEK 258m (329) and EBITA-margin amounted to 11.1 percent (15.5). The investment in digital solutions for self-monitoring has had a negative impact on the result of SEK 17m. Exchange rate changes had a positive effect on EBITA, corresponding to SEK 13m.
Net financial items amounted to SEK -72m (-22) and profit after financial items amounted to SEK 77m (223). The increased negative net financial items is due to interest costs related to the acquisitions and exchange rate fluctuations. Interest expenses amounted to SEK 46m (20) and exchange rate losses to SEK 26m (4). Exchange rate losses are related to recalculation of loans and contingent considerations in foreign currencies. Profit after tax for the quarter decreased by 65 percent to SEK 62m (178) and the effective tax rate was 21 percent (20).
Group development in the financial year
Net sales in the financial year increased by 14 percent to SEK 9,084m (7,993). Acquired growth totalled 22 percent and organic growth, excluding COVID-19 amounted to 4 percent. Net sales related to COVID-19 decreased significantly to SEK 760m (1,976). Exchange rate changes had a positive effect on net sales of 4 percent, corresponding to SEK 352m.
EBITA decreased by 4 percent to SEK 1221m (1,273) and EBITA-margin amounted to 13.4 percent (15.9). Reversal of allowances for contingent considerations has had a positive impact on the operating profit of SEK 101m. The investment in digital solutions for self-monitoring has had a negative impact on the result of SEK 54m. Exchange rate changes had a positive effect on EBITA, corresponding to SEK 42m.
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Dynamisk graf: Covid-19 related sales
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Throughout the COVID-19 pandemic, AddLife has supplied large volumes of products to the healthcare sector. Sales since the first quarter of 2020 have varied based on the spread of infection and restrictions in the society. |
Net financial items amounted to SEK -206m (-69) and profit after financial items amounted to SEK 602m (927). 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 112m (57) and exchange rate losses to SEK 95m (10). Exchange rate losses are related to recalculation of loans and contingent considerations in foreign currencies. Profit after tax decreased with 33 percent amounting to SEK 483m (721) and the effective tax rate was 20 percent (22).
Sales in the Nordic markets amounted to 35 percent of total net sales compared to 49 percent last year. The change in geographical markets is due to the acquisitions in Europe during 2021-2022.
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Dynamisk graf: Net Sales per market 2022
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Dynamisk graf: Net Sales per market 2021
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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, shipping costs and energy costs and greater uncertainty about interest rate developments.