Strong order intake and continued sales growth

The fourth quarter: October – December

• Net sales of SEK 304.2 (283.7) million, an increase of 7.3 percent or SEK 20.5 million.
• Order intake of SEK 305.0 (296.4) million, an increase of 2.9 percent
• Order backlog increased by SEK 0.8 million to SEK 1,203.5 million at the end of the quarter
• Operating profit of SEK 27.0 (26.3) million, an increase of 2.8 percent. Adjusted operating profit was SEK 41.6 (37.4) million, an increase of 11.0 percent
• Net profit after tax of SEK 19.0 (20.0) million, an decrease of SEK 1.0 million.
• Earnings per ordinary share of SEK 0.86 (1.09), before and after dilution.
• Operating cash flow of SEK 29.5 (138.4) million.
• Adjustment to the new accounting standards in accordance with IFRS 15 has resulted in a reduction of sales for the quarter by SEK 4.4 million and a reduction of operating profit by SEK 1.7 million. Comparative figures have not been restated.

The full year 2018: January – December

• Net sales of SEK 1,058.1 (989.0) million, an increase of 7.0 percent or SEK 69.1 million.
• Order intake of SEK 1,003.1 (1,113.5) million, a decrease of 9.9 percent.
• Order backlog decreased by SEK 34.8 million, equivalent to 2.8 percent.
• Operating profit of SEK 105.6 (92.3) million, an increase of 14.4 percent. Adjusted operating profit was SEK 120.2 (116.7) million, an increase of 3.0 percent
• Net profit after tax of SEK 76.8 (37.7) million, an increase of 104 percent.
• Earnings per ordinary share of SEK 3.67 (2.43) before and after dilution.
• Operating cash flow of SEK 49.9 (182.9) million.
• Adjustment to the new accounting standards in accordance with IFRS 15 resulted in a reduction of SEK 21.8 million in sales and SEK 9.4 million in operating profit. Comparative figures have not been restated.
• The Board proposes to the 2019 annual general meeting that a dividend of SEK 2.00 per share be paid in respect of the 2018 financial year.

Events during the fourth quarter and after end of the quarter

• Balco acquired and became the vested owner of all shares in TBO-Haglinds AB at the end of the fourth quarter. The acquired company has annual sales of approximately SEK 130 million and it is expected to make a positive contribution of SEK 0.50 in earnings per share in 2019. TBO-Haglinds AB has not affected Balco's order intake, sales or earnings in 2018.

Conference call
A conference call will be held today, 22 February, at 09:00 CET, at which President and CEO Kenneth Lundahl and CFO Fredrik Hall will present the report and answer questions. To participate, please call one of the following numbers:

• SE: +46 8 519 993 83 or
• UK: +44 333 300 92 73 
• US: +1 646 722 49 57 

For more information, please contact: 
Kenneth Lundahl, President and CEO, +46 70-630 20 57
Fredrik Hall, CFO, +46 70-392 77 30
Cecilia Lannebo, IR Manager, + 46 72-220 82 77, [email protected]