Q4 results
Sales came in at SEK 248m (+25% vs. ABGSC 198m), +29% y-o-y (+27% organic). EBITA was 5m (-28% vs. ABGSC 7m), and adj. EBITA was 5m (-28% vs. ABGSC 7m) for a margin of +2% (ABGSC +4%). Adj. net income was 2m (-57% vs. ABGSC 4m) for a margin of +1% (ABGSC +2%). The company produced lease adj. FCF of 11m. Stronger organic growth than expected due to strong demand, order intake of SEK 258m, up 28% y-o-y. EBITA suffers by 4m due to increased costs in projects priced before recent price increases. Adjusting for this would give EBITA of SEK 9m and a margin of 3.8%. Even without adjustments this is still an improvement over last year's -2.3%. The company restructured its reporting segments into “Technology & Distribution” and “Energy & Environment”. These segments reported sales of SEK 151m and 100m, growing 37% and 5.6% respectively, with EBITA margins of 4.9% and 1.4%
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