Net sales amounted to MSEK 13,867 (14,974), which corresponded to an organic net sales reduction of nine percent, excluding acquisitions and discontinued operations, and using unchanged exchange rates. The reduction is mainly due to lower freight rates and linked to the Group’s Air & Sea freight forwarding operations.
Adjusted EBITA amounted to MSEK 927 (966), which equaled an adjusted EBITA margin of 6.7 (6.5) percent.
The period’s reported result included one-off items of MSEK -107 (-26). Most of these referred to errors discovered in one of the Group’s companies in North America, which were corrected in the first quarter. The remaining part referred to a provision during the second quarter for additional consideration for an acquisition that has developed better than expected and in the fourth quarter for acquisitions.
Adjusted net result amounted to MSEK 349 (499), corresponding to SEK 9.60 (13.63) per share. The reduction is primarily due to higher interest expenses.
Operating cash flow increased to MSEK 1,338 (1,210). Excluding purchase prices for acquisitions, the operating cash flow increased to MSEK 2,170 (1,254).
Cash conversion increased to 110 (65) percent, excluding purchase prices for acquisitions.
The Board proposes a dividend of 4.15 (4.15) kronor per share for 2023.
Fourth quarter 2023
Net sales amounted to MSEK 3,574 (4,099), which corresponded to an organic net sales reduction of eleven percent, excluding acquisitions and discontinued operations, and using unchanged exchange rates. The reduction is primarily a result of a weaker market and lower freight rates in the Group’s Air & Sea freight forwarding operations.
Adjusted EBITA amounted to MSEK 289 (331), which equaled an adjusted EBITA margin of 8.1 (8.1) percent.
The period’s reported result included one-off items of MSEK -25 (-58), which mainly referred to acquisition costs.
Adjusted net result amounted to MSEK 127 (184), corresponding to SEK 3.41 (5.11) per share.
Operating cash flow was MSEK -221 (495). Excluding purchase prices for acquisitions, the operating cash flow increased to MSEK 593 (494).
Cash conversion increased to 104 (92) percent, excluding purchase prices for acquisitions.
In November 2023, Elanders acquired all the shares in the British contract logistics company Kammac Ltd. During the past twelve-month period, Kammac had net sales of MGBP 90 with very good profitability.
Further information can be found on Elanders' website www.elanders.com or requested via e-mail info@elanders.com.
Questions concerning this report can be addressed to:
Magnus Nilsson President and CEO Phone: +46 31 750 07 50
Elanders AB (publ) (Company ID 556008-1621) Flöjelbergsgatan 1 C 431 35 Mölndal, Sweden Phone: +46 31 750 00 00
This information is information that Elanders AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 07:30 CET on 31 January 2024.
Elanders AB is a Sweden-based supplier with a broad range of services of integrated solutions in supply chain management. The Companyâs business activities are divided into two segments: Supply Chain Solutions and Print & Packaging Solutions. The Supply Chain Solutions segment includes supply chain solutions, such us procurement, warehousing, configuration, production and distribution, as well as order management, payment solutions and after sales services. The Print & Packaging Solutions offers print, freight and packing services, as well as sells photo products through its own brands fotokasten and myphotobook. The Company operates in around 20 countries, such as China, Singapore, Germany, the United Kingdom, Sweden and the United States, among others. Its main customers are active in the areas Automotive, Electronics, Fashion & Lifestyle, Industrial and Health Care & Life Science.