Fasadgruppen

Third quarter highlights

• Net sales increased to SEK 1,208.0 million (713.7), corresponding to growth of 69.3 percent. Organic growth was 14.6 percent.
• EBITA increased to SEK 148.9 million (102.8) and EBITA margin was 12.3 percent (14.4).
• Items affecting comparison impacted EBITA by SEK +9.4 million (+8.5). Adjusted EBITA (excluding items affecting comparison) increased to SEK 139.4 million (94.3).
• Earnings for the period increased to SEK 105.4 million (72.0), earnings per share before and after dilution were SEK 2.15 (1.59).
• Operating cash flow totalled SEK 125.0 million (66.7).
• The order backlog increased to SEK 3,173.0 million (1,628.0).

Nine-month highlights

• Net sales increased to SEK 3,162.6 million (1,823.7), corresponding to growth of 73.4 percent. Organic growth was 8.3 percent.
• EBITA increased to SEK 304.2 million (188.4) and EBITA margin was 9.6 percent (10.3).
• Items affecting comparison impacted EBITA by SEK -2.2 million (-7.5). Adjusted EBITA (excluding items affecting comparison) increased to SEK 306.4 million (195.9).
• Earnings for the period increased to SEK 204.3 million (124.4), earnings per share before and after dilution were SEK 4.26 (2.75).
• Operating cash flow totalled SEK 191.7 million (131.6).

Important events during the quarter

• Three acquisitions have been completed: Altana and Jan Tryk in Denmark and Rovakate in Finland.
• Fasadgruppen has entered into a new sustainability-linked credit facility agreement of SEK 600 million for continued acquisitions.

Events after the end of the period

• Another acquisition announced: Sydskiffer in Sweden

Condensed CEO comment from Pål Warolin: “Continued profitable growth; strong order backlog provides stability ahead of 2023”
“I can summarise the third quarter as one with good progress for Fasadgruppen, and especially with regard to the strong growth in both sales and order backlog. The margin has decreased somewhat compared to last year but must be seen in light of the strong cost inflation for materials that occurred particularly in the second quarter.

Sales in the third quarter amounted to SEK 1,208.0 million, an increase of 69.3 percent compared with the corresponding quarter in the previous year. Organic growth was 14.6 percent and growth through acquisitions was 54.7 percent. The order backlog increased by 94.9 percent, with organic growth accounting for 36.1 percent. The adjusted EBITA margin was 11.5 percent for the quarter. We will continue to focus heavily on profitability going forward and see a certain improvement in material price trends.

We notice great interest from property owners in all types of measures that can contribute to improving energy performance. Our assessment is that this driving force is further contributing to the long-term stability of the renovation market, which currently accounts for approximately 75 percent of our sales.

We are now in the middle of the fourth quarter, which entails a burst of activity to complete projects before winter arrives. If I allow myself to look ahead to 2023 now, I have a fundamentally positive view of our prospects for continuing to deliver profitable growth. The record-high order backlog combined with continued good acquisition opportunities and the underlying market provide clear stability for the business.”

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

Dial-ins for conference call:
SE: +46 8 5055 8373
UK: +44 3333 009 269

Link to webcast:
https://ir.financialhearings.com/fasadgruppen-group-q3-2022

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