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BTS GROUP AB (PUBL) INTERIM REPORT JANUARY – JUNE 2024

REG

P R E S S R E L E A S E

Stockholm, August 15, 2024

Continued revenue and profit growth, despite decline in BTS Europe

April 1 – June 30, 2024

  • Net sales MSEK 730 (703). Currency adjusted growth +3%.
  • EBITA +4%, MSEK 110 (106).
  • EBITA margin 15.1 (15.1) %.
  • Profit after tax –0.6%, MSEK 60 (61).
  • Earnings per share –1%, SEK 3.11 (3.14).

January 1 – June 30, 2024

  • Net sales MSEK 1,348 (1,282). Currency adjusted growth +5%.
  • EBITA +10%, MSEK 169 (153).
  • EBITA margin 12.5 (12.0) %.
  • Profit after tax +36%, MSEK 114 (83), excl. the reversed provision of earn-out +2%, MSEK 85 (83).1)
  • Earnings per share +36%, SEK 5.86 (4.30), excl. the reversed provision of earn-out +2%, SEK 4.39 (4.30) 1)

FINANCIAL SUMMARY

  Apr-Jun Apr-Jun Jan-Jun Jan-Jun Jul-Jun   Jan- Dec
MSEK 2024 2023 2024 2023 2023/2024   2023
Net sales 730 703 1 348 1 282 2 750   2 683
Currency adjusted growth 3% 0% 5% 1% 3%   2%
EBITA 110 106 169 153 361   346
EBITA margin 15,1% 15,1% 12,5% 12,0% 13,1%   12,9%
EBIT 95 92 138 128 298   288
EBIT margin 13,0% 13,1% 10,2% 10,0% 10,8%   10,7%
Profit after tax 60 61 114 83 245   215
Profit after tax, excluding the reversed provision of earn-out 60 61 85 83 188 1) 186
Cash flow from operating activities -10 -4 17 -99 282   166
Earnings per share, SEK 3,11 3,14 5,86 4,30 12,64   11,08
Net debt (+)/net cash (-) -76 -113 -76 -113 -76   -230
Number of employees (EOP) 1 099 1 157 1 099 1 157 1 099   1 111


1) During the first quarter 2024, a provision of earn-out related to the earlier acquisition of RLI was reversed, impacting the net financial items positively by MSEK 29. During the fourth quarter 2023, a provision of earn-out related to the earlier acquisition of MTAC was reversed, impacting the net financial items positively by MSEK 28.

Outlook 2024

The 2024 full-year outlook is unchanged; the result (EBITA) is expected to be better than in 2023.

CEO Jessica Skon comments;

“Overall, BTS continued to develop well in our two largest markets, BTS North America and BTS Other markets, which grew by 12 and 8 percent respectively with a combined EBITA that grew by 23 percent, while revenue in Europe declined by 23 percent in the second quarter. During the summer we strengthened our geographical and service portfolio position with two acquisitions.”

For more information, please contact:

Michael Wallin
Head of investor relations
BTS Group AB
michael.wallin@bts.com
+46-8-587 070 02
+46-708-78 80 19

This information is information that BTS Group AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 06:00 CEST on Aug. 15, 2024.

About BTS Group AB

BTS is a global professional services firm headquartered in Stockholm, Sweden. BTS has about 1,100 professionals in 38 offices located on six continents. BTS competes in both talent and HR consulting as well as the traditional consulting markets. BTS’s services support a broad range of client challenges including top-to-bottom and on-demand leadership development, talent selection and readiness, strategy creation and strategy implementation, as well as culture and broad-scale change. For over 35 years, BTS has been focused on the people-side of change and on powering better performance using proprietary simulation, learning, coaching, and assessment methodologies. We partner with nearly 1,200 organizations, including over 40 of the world’s 100 largest global corporations.

BTS is a public company listed on the Nasdaq Stockholm exchange and trades under the symbol BTS B.
For more information, please visit www.bts.com.

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Datum 2024-08-15, kl 06:00
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