Best revenue and profit so far (correction)

27.08.2020

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The correction refers to missed information that this information comprises such information as Balco Group AB is obliged to publish in accordance with the EU Market Abuse Regulation and the Securities Market Act.

The second quarter: April – June

  • Net sales increased 8 percent to 352 MSEK (325).
  • Order intake amounted to 278 MSEK (436).
  • Order backlog amounted to 1,469 MSEK (1,641).
  • Operating profit increased 12 percent to 49 MSEK (44).
  • Net profit after tax increased 10 percent to 37 MSEK (34).
  • Earnings per share amounted to 1.62 SEK (1.64).
  • Operating cash flow increased to 86 MSEK (43).

The half-year period: January – June

  • Net sales increased 13 percent to 673 MSEK (595).
  • Order intake amounted to 618 MSEK (798).
  • Operating profit increased 17 percent to 84 MSEK (71).
  • Net profit after tax increased 16 percent to 62 MSEK (54).
  • Earnings per share increased 9 percent to 2.85 SEK (2.62).
  • Operating cash flow increased to 90 MSEK (35).

Events during the second quarter and after end of the quarter

  • Covid-19 has affected Balco's order intake in the first and second quarters as general meetings have been postponed. In other respects, operations have functioned normally except some extra costs on construction sites and freight.
  • During the quarter, Balco received large orders in the Netherlands and the United Kingdom.

"Best quarter so far in terms of net sales, operating profit and operating margin, as well as really strong cash flow despite the challenges that Covid-19 has brought. We believe that most of the loss in order intake during the first half of the year will be taken back during the second half of the year.", Kenneth Lundahl. President and CEO

Telephone conference

An online telephone conference will be held on 27 August 2020 at 09:00 CET at which President and CEO Kenneth Lundahl and CFO Michael Grindborn will present the report and answer questions. To participate, please call:

SE: +46 8 505 583 73
UK: +44 333 300 92 70
USA: +1 833 249 84 05 

This information comprises such information as Balco Group AB is obliged to publish in accordance with the EU Market Abuse Regulation and the Securities Market Act. The information was provided by the contact persons below for publication on 27 August 2020 at 07:30 CET.

For more information, please contact:
Kenneth Lundahl, President and CEO
Tel: +46 70 630 20 57Michael Grindborn, CFO and Head of IR
Tel: +46 70 670 18 48

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