"Once again
Turnover amounted to 311.4 MSEK (283.4) in the third quarter, representing growth of 10.0 percent. Approximately 45 percent of the turnover growth was organic. The profit for the third quarter was also strong despite a slightly lower utilization than previous years. The background is that we increased customer value in our deliveries, balanced our recruitment and had good cost control. The EBITA results amounted to 31.0 MSEK (33.2) with an EBITA margin of 10.0 percent (11.7). Note that considering that this year's quarter is one working day shorter (65 compared to 66) we increased EBITA profits. Cash flow from current operations remained strong and more than doubled to 50.4 MSEK (23.0) compared to the corresponding period of the previous year.
On a rolling 12-month basis, we are delivering in line with our financial targets, which are 10 percent sales growth per year and an average EBITA margin of 12 percent. Both turnover and profits thus far are at an all-time-high for
To read the word from the CEO in full, see interim report page 4-5.
The quarter in brief
- Net turnover amounted to 311.4 MSEK (283.4), an increase of 28.0 MSEK and 10.0 percent.
- Operating profit EBITA amounted to 31.0 MSEK (33.2), which gives an operating margin of 10.0 percent (11.7). The quarter was one working day shorter than the corresponding period of the previous year, which affected the operating profit EBITA negatively with approximately 5 MSEK.
- Operating profit EBIT amounted to 29.3 MSEK (31.8), which gives an operating margin of 9.4 percent (11.2).
- Profit after tax amounted to 22.7 MSEK (25.6).
-
Profit per share before dilution was
1.74 SEK per share (1,94) and after dilution was1.73 SEK per share (1.94). - The cash flow from operating activities amounted to 50.4 MSEK (23.0).
The period in brief
- Net turnover amounted to 1,083.4 MSEK (934.3), an increase of 149.1 MSEK and 16.0 percent. More than half the growth was organic and the remainder comes from acquisitions made during 2022.
- Operating profit EBITA amounted to 125.2 MSEK (112.3), which gives an operating margin of 11.6 percent (12.0).
- Operating profit EBIT amounted to 120.0 MSEK (108.6), which gives an operating margin of 11.1 percent (11.6).
- Profit after tax amounted to 89.5 MSEK (86.0).
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Profit per share before dilution was
6.86 SEK per share (6,57) and after dilution was6.81 SEK per share (6.57). - The cash flow from operating activities amounted to 123.2 (75.5).
Significant events
- Acquisition of DVel.
Prevas has during the period signed an agreement for the acquisition of 51 percent ofDVel AB . DVel is one ofSweden 's largest suppliers of customized hardware test systems and is based inLund with 25 employees. The transition occurred onOctober 2nd, 2023 . The transaction is expected to have a marginal impact onPrevas' earnings per share during the 2023 financial year.
- Takes over
Unibap's industrial operations within robotics and AI. The previously announced letter of intent for the transfer ofUnibap 's industrial operations has been successfully implemented. The companies agreed on a business transfer regarding 4 employees and ongoing assignments ofUnibap 's industrial operations. The business transition took place onAugust 1, 2023 . The transaction is expected to have a marginal impact onPrevas ' earnings per share during the 2023 financial year.
Presentation of
The presentation is given in English by Magnus Welén (CEO) and Helena Burström (CFO) from
This information is such that
For more information, contact
Magnus Welén, President & CEO,
Helena Burström, CFO,
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https://news.cision.com/prevas/i/interim-report-jan-sep-2023,c3231714
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