2020-05-14

Strong revenue and profit growth

The first quarter: January – March

  • Net sales increased 19 percent to 321 MSEK (270).
  • Order intake amounted to 341 MSEK (362).
  • Order backlog increased 2 percent to 1,561 MSEK (1,529).
  • Operating profit increased 27 percent to 34 MSEK (27).
  • Net profit after tax increased 27 percent to 25 MSEK (20).
  • Earnings per share increased 25 percent to 1.23 SEK (0.98) before and after dilution.
  • Operating cash flow increased to 5 MSEK (-8).

Events during the first quarter and after end of the quarter

  • The Nomination Committee has proposed that Vibecke Hverven be elected as a new director in place of Åsa Söderström Winberg, who has declined re-election.
  • The impact of Covid-19 on Balco has so far been limited. All production units are in full operation and the projects are running according to plan. However, orders received in the first and so far in the second quarter have been affected by postponed meetings.
  • The Board of Directors of Balco Group AB (publ) has decided to withdraw the previously announced dividend proposal for the financial year 2019 but at the same time remains open to an extra general meeting in the autumn of 2020 for a new dividend decision.

Telephone conference

An online telephone conference will be held on 14 May 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 8 505 583 54
UK: +44 333 300 90 31
USA: +1 833 249 84 06

This information comprises such information as Balco Group AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person below for publication on 14 May 2020 at 07:30 CET.

For more information, please contact:

Kenneth Lundahl, President and CEO
Tel: +46 70 630 2057

Michael Grindborn, CFO and Head of IR
Tel: +46 70 670 18 48