2020-11-12

Strong financial position, but quarter affected by Covid-19

The third quarter: July – September

  • Net sales amounted to 258 MSEK (292).
  • Order intake amounted to 142 MSEK (199).
  • Order backlog amounted to 1,294 MSEK (1,557).
  • Operating profit amounted to 29 MSEK (31).
  • Net profit after tax amounted to 21 MSEK (23).
  • Earnings per share amounted to 0.95 SEK (1.08).
  • Operating cash flow increased to 35 MSEK (-1).

The nine-month period: January – September

  • Net sales increased 5 percent to 931 MSEK (887).
  • Order intake amounted to 703 MSEK (997).
  • Operating profit increased 10 percent to 113 MSEK (103).
  • Net profit after tax increased 8 percent to 83 MSEK (77).
  • Earnings per share increased 7 percent to 3.82 SEK (3.58).
  • Operating cash flow increased to 125 MSEK (34).

Events during the third quarter and after end of the quarter

  • The second wave of Covid-19 with increased spread of infection in most countries and thus continued or reintroduced restrictions has strongly affected Balco’s order intake negatively in the third quarter.
  • Balco evaluates various acquisition opportunities and in the light of this, the Board of Directors confirms its previous decision not to pay a dividend in 2020.

Telephone conference

An online telephone conference will be held on 12 November 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 8 566 427 04
UK: +44 333 300 90 34
USA: +1 833 823 05 87 

This disclosure contains information that Balco Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 12-11-2020 07:30 CET.