2018-08-24

Continued expansion and a strong underlying growth

The second quarter: April – June

  • Net sales of SEK 273.6 (268.4) million, an increase of 1.9 percent or SEK 5.2 million. The increase was entirely organic.
  • Order intake of SEK 299.4 (394.8) million, a decrease of 24.1 percent
  • Order backlog increased by SEK 28.8 million to SEK 1 308.8 million
  • Operating profit of SEK 31.5 (30.8) million), an increase of 2.3 percent. Adjustment to IFRS 15 reduced operating profit by SEK 3.7 million.
  • Net profit after tax of SEK 23.1 (12.4) million, an increase of 87 percent.
  • Earnings per ordinary share of SEK 1.05 (0.91), before and after dilution.
  • Operating cash flow of SEK 12.9 (42.5) million.
  • Adjustment to the new accounting standards in accordance with IFRS 15 has resulted in a reduction of sales for the quarter by SEK 9 million. Comparative figures have not been restated.

The half-year period January – June

  • Net sales of SEK 516.1 (499.2) million, an increase of 3.4 percent or SEK 16.9 million. The increase was entirely organic.
  • Order intake of SEK 570.7 (614.9) million, a decrease of 7.2 percent.
  • Order backlog increased by SEK 70.4 million, equivalent to 13.4 percent more than sales for the period.
  • Operating profit of SEK 53.5 (53.9) million, a decrease of 0.7 percent. Adjustment to IFRS 15 reduced operating profit by SEK 7.4 million.
  • Net profit after tax of SEK 38.7 (19.6) million, an increase of 97 percent.
  • Earnings per ordinary share of SEK 1.92 (1.38) before and after dilution.
  • Operating cash flow of SEK -10.1 (34.4) million.
  • Adjustment to the new accounting standards in accordance with IFRS 15 resulted in a reduction of SEK 16 million in sales for the quarter. Comparative figures have not been restated.

Events during the second quarter and after end of the quarter

  • Balco has during the second quarter signed an order in Stockholm valued at approximately SEK 100 million. Project start will take place once the customer has been granted planning permission.
  • After the end of the quarter, Balco has prolonged the banking agreement and the agreement is now valid until September 2021.

Conference call

A conference call will be held today, 24 August, 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 8 566 427 01 or
  • UK: +44 203 008 98 02 
  • US: +1 855 753 22 37 

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, cecilia.lannebo@balco.se