Nordic Lights Group Corporation Company release
Nordic Lights Group Corporation’s Half-year financial report January-
This release is a summary of Nordic Lights Group Corporation’s half-year financial report for January-
APRIL –
- Net sales decreased by 7% and totaled
EUR 21.2 million (22.7) -
EBITA decreased by 10% and totaled
EUR 2.8 million (3.1) - EBITA margin was 13.3% (13.8%)
-
Adjusted EBITA decreased by 10% and totaled
EUR 3.7 million (4.2) - Adjusted EBITA margin was 17.5% (18.3%)
-
Operating profit decreased by 14% and totaled
EUR 2.0 million (2.3) - Operating profit margin was 9.4% (10.2%)
-
Net cash flow from operating activities were
EUR 1.3 million (4.2)
JANUARY –
- Net sales decreased by 7% and totaled
EUR 41.7 million (44.9) -
EBITA decreased by 23% and totaled
EUR 4.9 million (6.4) - EBITA margin was 11.8% (14.3%)
-
Adjusted EBITA decreased by 16% and totaled
EUR 6.3 million (7.6) - Adjusted EBITA margin was 15.1% (16.8%)
-
Operating profit decreased by 32% and totaled
EUR 3.3 million (4.8) - Operating profit margin was 7.8% (10.7%)
-
Net cash flow from operating activities were
EUR 2.4 million (6.6)
The figures in this report are unaudited unless otherwise mentioned. Comparative figures for the corresponding period of the previous year are in brackets.
GUIDANCE FOR 2023 (UNCHANGED)
Following rapid net sales growth in both 2022 (24.3%) and 2021 (51.9%), mostly driven by gains in market share,
The company has on
Nordic Lights net sales is expected to remain at approximately previous year's level (2022:EUR 82.4 million ). Particularly in Q1 2023, and also in Q2 2023, net sales is expected to be below corresponding Q1 and Q2 2022 levels, while H2 2023 net sales is expected to be above H2 2022 levels.- Full year 2023 adjusted EBITA-% is expected to be above previous year.
TOM NORDSTRÖM, CEO:
During the second quarter,
Adjusted EBITA totaled
During the summer, the public tender offer process has continued according to plan, with the necessary procedural steps being taken for the redemption of remaining minority shares. We anticipate a timely conclusion for the process, and continue to aim for delisting
As we prepare to enter this new phase for
KEY PERFORMANCE INDICATORS
(EUR million) |
4-6/2023 |
4-6/2022 |
Change |
1-6/2023 |
1-6/2022 |
Change |
1-12/2022 |
Net sales | 21.2 | 22.7 | -6.6% | 41.7 | 44.9 | -7.2% | 82.4(1 |
Gross margin | 7.7 | 8.3 | -7.6% | 14.3 | 15.3 | -6.5% | 28.7 |
Gross margin, % of net sales | 36.1% | 36.5% |
| 34.2% | 34.0% |
| 34.8% |
EBITDA | 3.3 | 3.7 | -9.1% | 5.9 | 7.5 | -21.0% | 14.3 |
EBITDA margin (%) | 15.7% | 16.1% |
| 14.1% | 16.6% |
| 17.3% |
Items affecting comparability in other operating expenses | 0.9 | 1.0 |
| 1.4 | 1.1 |
| 1.2 |
Adjusted EBITDA | 4.2 | 4.7 | -9.9% | 7.3 | 8.6 | -15.2% | 15.5 |
Adjusted EBITDA margin (%) | 19.9% | 20.6% |
| 17.5% | 19.1% |
| 18.8% |
EBITA | 2.8 | 3.1 | -9.8% | 4.9 | 6.4 | -23.5% | 12.2 |
EBITA margin (%) | 13.3% | 13.8% |
| 11.8% | 14.3% |
| 14.8% |
Adjusted EBITA | 3.7 | 4.2 | -10.5% | 6.3 | 7.6 | -16.5% | 13.4 |
Adjusted EBITA margin (%) | 17.5% | 18.3% |
| 15.1% | 16.8% |
| 16.3% |
Operating profit | 2.0 | 2.3 | -14.1% | 3.3 | 4.8 | -32.2% | 9.0(1 |
Operating profit margin (%) | 9.4% | 10.2% |
| 7.8% | 10.7% |
| 10.9% |
Adjusted operating profit | 2.9 | 3.3 | -13.6% | 4.7 | 5.9 | -21.6% | 10.2 |
Adjusted operating profit margin (%) | 13.6% | 14.7% |
| 11.2% | 13.2% |
| 12.3% |
EPS | 0.05 | 0.04 | 24.6% | 0.08 | 0.13 | -34.7% | 0.23 |
Number of shares on average | 20,957,962 | 17,940,430 |
| 20,957,962 | 17,940,430 |
| 19,449,196 |
Net cashflow from operating activities | 1.3 | 4.2 | -69.8% | 2.4 | 6.6 | -64.2% | 11.3 |
Gross capital expenditure | 0.4 | 0.4 |
| 1.2 | 1.1 |
| 1.9 |
Gross capital expenditure, % of net sales | 1.8% | 2.0% |
| 2.9% | 2.5% |
| 2.3% |
Net interest-bearing debt/Adjusted EBITDA (ratio) | 0.4 | 1.8 |
| 0.4 | 1.8 |
| 0.2 |
Personnel, at the end of the period | 287 | 315 |
| 287 | 315 |
| 271 |
Key performance indicators are unaudited, unless otherwise indicated. 1) Audited
EVENTS AFTER THE REVIEW PERIOD
There have not been any material events after the review period.
TENDER OFFER
On
On
Montana BidCo's intention is to acquire all shares and apply for the shares in
FINANCIAL CALENDAR IN 2023
30 November 2023 Business Review for January-September 2023
Pietarsaari
Board of Directors
Further enquiries
Tom Nordström, CEO,
Tel. +358 400 909005
tom.nordstrom@nordiclights.com
Ann-Louise Brännback, CFO,
Tel. +358 40 190 1165
ann-louise.brannback@nordiclights.com
Certified Adviser:
Tel. +358 9 612 9670
About
Attachments
- Download announcement as PDF.pdf
- Nordic Lights Group Corporation_EN_H1-2023_Report.pdf
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