Fasadgruppen

First quarter highlights

• Net sales increased to SEK 1,143.3 million (737.5), corresponding to a growth of 55 percent. Organic growth was 25 percent.
• EBITA increased by 86 percent to SEK 72.0 million (38.6) and the EBITA margin was 6.3 percent (5.2).
• Items affecting comparability impacted EBITA by SEK -2.1 million (-4.8). Adjusted EBITA (excluding items affecting comparability) increased to SEK 74.1 million (43.4).
• Earnings for the period increased to SEK 28.9 million (22.2), earnings per share before or after dilution were SEK 0.58 (0.48).
• Operating cash flow totalled SEK 77.1 million (74.9).
• The order backlog increased to SEK 2,851.6 million (2,616.0).

Significant events during the quarter

• In January, it was announced that CEO Pål Warolin will leave his role on 11 May 2023 and the Deputy CEO Martin Jacobsson has been appointed CEO of Fasadgruppen as of 12 May 2023.
• The EU parliament has adopted draft measures to increase the rate of renovation in the European building stock.

Events after the end of the period

• Fasadgruppen to carry out extensive energy renovation of multi-family residential properties in Umeå.
• Fasadgruppen has recruited Daniél Bergman as new Head of M&A.

Condensed CEO comment from Pål Warolin: “Strong start to 2023 – clear margin improvement and increased earnings”
“It feels good to present a strong start to 2023 with high growth, a clear margin improvement and increased earnings. Although the first quarter is a period of seasonally low activity, the start of the year provides a good basis for the continuation, and I have a positive view of the full year with more predictable market conditions compared to 2022.

Sales in the first quarter amounted to SEK 1,143.3 million, an increase of 55 percent compared with the corresponding quarter in the previous year. Organic growth was 25 percent and growth through acquisitions was 30 percent. Most of the organic growth can be linked to price increases, but we also see volume growth. Adjusted EBITA increased by 71 percent and the adjusted EBITA margin amounted to 6.5 percent, compared with 5.9 percent in the corresponding quarter for 2022. The order backlog at the end of the quarter amounted to SEK 2,851.6 million. The rate of new project requests has gradually increased during the spring and is now at a high level.

Over the past two years, we have had a high pace in M&A with more than 40 new businesses added to the group. So far this year, we have not closed any new acquisitions, which is primarily due to timing in the negotiations. We have several far progressed dialogues with quality companies in all Nordic markets. As always, we focus on stable profitability, cash flow generation, long-term management and craftsmanship. With these ingredients, we create the best conditions for Fasadgruppen’s value creation.”

Report presentation
CEO Pål Warolin and CFO Casper Tamm will present the report in a conference call and webcast today 11 May 2023 at 08:15 CEST. The presentation will be held in English and will be concluded with a Q&A session.

Link to webcast: https://ir.financialhearings.com/fasadgruppen-group-q1-2023
Registration for participation by phone: https://conference.financialhearings.com/teleconference/?id=200748

A recording of the presentation will later be available at www.fasadgruppen.se.