Strong sales and earnings growth

The third quarter: July – September

• Net sales of SEK 237.7 (206.0) million, an increase of 15.3 percent or SEK 31.7 million.
• Order intake of SEK 127.4 (202.2) million, a decrease of 37.0 percent
• Order backlog decreased by SEK 106.1 million, equivalent to 8.1 percent to SEK 1,202.7 million at the end of the quarter
• Operating profit of SEK 25.1 (12.2) million, an increase of 106 percent.
• Net profit after tax of SEK 19.1 (-2.0) million, an increase of SEK 21.1 million.
• Earnings per ordinary share of SEK 0.89 (-0.48), before and after dilution.
• Operating cash flow of SEK 30.6 (10.1) million.
• Adjustment to the new accounting standards in accordance with IFRS 15 has resulted in a reduction of sales for the quarter by SEK 1.4 million and a reduction of operating profit by SEK 0.3 million. Comparative figures have not been restated.

The nine-month period January – September

• Net sales of SEK 753.8 (705.3) million, an increase of 6.9 percent or SEK 48.5 million.
• Order intake of SEK 698.0 (817.0) million, a decrease of 14.6 percent.
• Order backlog decreased by SEK 15.5 million, equivalent to 1.3 percent.
• Operating profit of SEK 78.6 (66.0) million, an increase of 19 percent.
• Net profit after tax of SEK 57.8 (17.6) million, an increase of 228 percent.
• Earnings per ordinary share of SEK 2.81 (0.88) before and after dilution.
• Operating cash flow of SEK 20.5 (44.5) million.
• Adjustment to the new accounting standards in accordance with IFRS 15 resulted in a reduction of SEK 17.4 million in sales and with SEK 7.7 million in operating profit. Comparative figures have not been restated.

Events during the third quarter and after end of the quarter

• Balco has agreed to acquire all shares in TBO-Haglinds AB. The turnover in the acquired company amounts to approx. SEK 130 million and the contribution to earnings per share in 2019 is expected to be SEK 0.50 per share. The take-over is expected to be in December 2018.
• Balco has extended a current bank agreement on unchanged terms and the new term extends until September 2021.

Conference call
A conference call will be held today, 16 November, 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 8 566 426 62 or
• UK: +44 203 008 98 03 
• US: +1 855 753 22 35 

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]