A stable quarter with continued growth
Third quarter: July-September 2017
- Net sales amounted to SEK 206.0 (192.1) million, an increase of 7.2 percent or SEK 13.9 million. The increase was entirely organic.
- Operating profit (EBIT) was SEK 12.2 million and includes SEK 9.2 million in IPO costs. Operating profit adjusted for items affecting comparability was SEK 21.4 (19.1) million, an increase of SEK 2.3 million, corresponding to an adjusted operating margin of 10.4 (9.9) percent.
- The period’s profit after tax was SEK -2.0 (3.9) million.
- The period’s earnings per common share, before and after dilution, were SEK -0.48 (0.04).
- Operating cash flow amounted to SEK 10.1 (-2.1) million.
Nine-month period: January-September 2017
- Net sales amounted to SEK 705.3 (563.9) million, an increase of 25.1 percent or SEK 141.4 million. The increase was entirely organic.
- Operating profit (EBIT) was SEK 66.0 (48.2) million, an increase of 36.9 percent or SEK 17.8 million, while adjusted operating profit was SEK 79.3 (49.5) million, an increase of SEK 29.8 million, corresponding to an adjusted operating margin of 11.2 (8.8) percent.
- The period’s profit after tax was SEK 17.6 (8.3) million.
- The period’s earnings per common share, before and after dilution, were SEK 0.88 (0.06).
- Operating cash flow amounted to SEK 44.5 (36.0) million.
- The order backlog amounted to SEK 1,218.2 (1,073.0) million at the end of the period.
Events in the third quarter
- The production unit in Poland was completed and was fully operational at end of September.
Events after the end of the quarter
- Balco was listed on Nasdaq Stockholm on 6 October 2017. As of the end of October, there were 21,428,773 common shares and 2,866 shareholders.
- At an extraordinary general meeting held on 5 October 2017, it was decided to establish a long-term incentive program for senior executives and key employees.
- Planning permission has been granted for Balco’s historically largest order, which will result in production start in the fourth quarter. The project is worth in total approximately SEK 160 million and is within the Renovation segment.
- Balco has obtained a letter of intent regarding deliveries of balconies to yet another cruise ship. The possible order value is approximately SEK 60 million and it will be reported as an order intake once an agreement is signed.
A conference call will be held today, 16 November, at 10:30 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 90 or
- UK: +44 203 008 98 07
- 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@example.com