Storskogen

Second quarter (1 April - 30 June 2024)

• Net sales decreased by 2 percent to SEK 9,243 million (9,462).
• Adjusted EBITA decreased by 3 percent to SEK 894 million (922), corresponding to an adjusted EBITA margin of 9.7 percent (9.7).
• Operating profit (EBIT) decreased to SEK -268 million (605), including items affecting comparability of SEK -958 million (-101).
• Profit for the quarter decreased to SEK -671 million (115), including items affecting comparability of SEK -995 million (-152).
• Basic and diluted earnings per share amounted to SEK -0.43 (0.04). Adjusted diluted earnings per share amounted to SEK 0.16 (0.13).
• Cash flow from operating activities was SEK 855 million (852).
• One divestment was completed, with annual sales in the past 12 months of SEK 196 million.
• Operating profit (EBIT) includes SEK -976 million, of which SEK 866 million is a non-cash impairment, reported in connection with the divestment of nine business units, which was completed on 14 August.
• Storskogen issued bonds of SEK 1,250 million and repurchased bonds maturing in 2025 to an equivalent value.

The period (1 January - 30 June 2024)

• Net sales decreased by 6 percent to SEK 17,600 million (18,675). Organic sales growth was -2 percent.
• Adjusted EBITA decreased by 12 percent to SEK 1,597 million (1,807), corresponding to an adjusted EBITA margin of 9.1 percent (9.7). Organic EBITA growth was -12 percent.
• Operating profit (EBIT) decreased to SEK 210 million (1,436), including items affecting comparability of SEK -978 million (52).
• Profit for the period decreased to SEK -527 million (630), including items affecting comparability of SEK -1,038 million (1).
• Basic and diluted earnings per share amounted to SEK -0.36 (0.32). Adjusted diluted earnings per share amounted to SEK 0.26 (0.32).
• Cash flow from operating activities was SEK 964 million (1,318).
• Three add-on acquisitions were completed with combined annual sales of SEK 7 million.
• One divestment was completed with annual sales of SEK 196 million.
• Operating profit (EBIT) includes SEK -976 million, of which SEK 866 million is a non-cash impairment, reported in connection with the divestment of nine business units, which was completed on 14 August.

Amounts in parentheses are for the corresponding periods in 2023.

Significant events after the end of the period

• On 1 July, Christer Hansson was appointed permanent CEO and Åsa Murphy was appointed permanent EVP Head of Business Area Trade.
• On 14 August, the divestment of nine business units with combined annual sales of SEK 1,512 million and adjusted EBITA of SEK -110 million was completed.

Presentation of the interim report

Christer Hansson, CEO, and Lena Glader, CFO, will present the interim report on 15 August 2024 at 09:00 (CEST).

The presentation and the subsequent Q&A can be followed via webcast or telephone conference.

For participation via webcast, please use the following link:
https://ir.financialhearings.com/storskogen-group-q2-report-2024/register  

If you wish to participate via telephone conference, please register via the link below. After registration you will be provided with a phone number and conference ID to access the conference. You can ask questions verbally via the telephone conference.
https://conference.financialhearings.com/teleconference/?id=50048811  

Questions can also be sent to ir@storskogen.com.

The presentation and the webcast will be made available on Storskogen's website after the presentation and can be found via the following link: https://www.storskogen.com/investors/financial-reports/.