HANZA

First quarter 2024

• Net sales increased by 18% to SEK 1,253 million (1,065).
  Adjusted for acquisitions and currency, net sales decreased by 6%.
• Operating profit amounted to SEK 67 million (88), which corresponds to an operating margin of 5.3% (8.3). An integration and efficiency program affected the result negatively by SEK 20 million. Revaluation of remaining acquisition purchase price affected the result positively by SEK 20 million. Energy subsidy improved the result in Q1 previous year by SEK 6 million. Adjusted for the above-mentioned items and acquisitions, the comparable operating margin amounted to 6.4% (7.7).
   
• Profit after tax amounted to SEK 34 million (59), which corresponds to SEK 0.77 (1.49) per share before dilution and SEK 0.77 (1.47) after dilution.
• Cash flow from operating activities amounted to SEK 31 million (89).

CEO Erik Stenfors comments on the report:

"In the beginning of the quarter, we completed the acquisition of Orbit One. It is an important and valuable addition to the HANZA Group that increases our future potential, by further strengthening our offer, adding new competence, and broadening our customer base.

As we have previously described, some sales volumes declined in early 2024, which affects our margin negatively. That is why we acted swiftly with an extensive efficiency program, while implementing a range of sales activities focused on our supply chain optimization offering.

The acquisition and the efforts mean we are optimistic about the future. The integration is running smoothly and our new sales activities, together with the broader customer base, will boost our growth. The efficiency program will strengthen our margins during the year. In addition, our strong financial position opens up for new opportunities, including more value-creating acquisitions."