Momentum Group Q3 2022: Activity level remains high, with increased revenue and favourable profit growth

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Continued solid sales performance and demand for the companies’ products and services during the quarter. The Group displayed organic sales growth of 8 per cent which, combined with good cost control, led to an increase in EBITA of 16 per cent compared with the third quarter of the preceding year.

Third quarter 2022

Revenue increased by 17% to SEK 400 m (343), of which 8 per cent for comparable units.
Operating profit rose by 18% to SEK 47 m (40), corresponding to an operating margin of 11.8% (11.7).
EBITA increased by 16% to SEK 50 m (43), corresponding to an EBITA margin of 12.5% (12.5).
Profit for the quarter increased by 13% to SEK 36 m (32), corresponding to earnings per share of SEK 0.70 (0.60).
Acquisition of Mytolerans, which offers products and services in measurement technology for Swedish industry.

January–September 2022

Revenue increased by 14% to SEK 1,245 m (1,089), of which 9% for comparable units.
Operating profit rose by 14% to SEK 133 m (117), corresponding to an operating margin of 10.7% (10.7). Profit included expenses affecting comparability of SEK –6 m attributable to the separate listing process.
EBITA increased by 19% to SEK 148 m (124), corresponding to an EBITA margin of 11.9% (11.4).
Profit for the period increased by 13% to SEK 101 m (89), corresponding to earnings per share of SEK 1.95 (1.75).
The return on working capital (EBITA/WC) was 62% (60).
The equity/assets ratio was 44% (38) at the end of the period.
Momentum Group was spun-off from Alligo AB and listed on Nasdaq Stockholm’s main list on 31 March.
During the second quarter, the Group acquired HNC Group, a leading player in solutions for industrial automation in Denmark.
As of 30 September, 1,500,000 Class B shares had been bought back within the framework of the company’s share buyback programme.

Events after the end of the period

Acquisition of Börjesson Pipe Systems, a leading player in sustainable flow technology solutions and products. Part of the purchase consideration was paid through a transfer of own Class B shares.

A quarterly presentation will be available on the company’s website, momentum.group, where CEO Ulf Lilius and CFO Niklas Enmark present the report and provide an update on operations.

About Momentum Group

Momentum Group operates, develops and acquires successful sustainable companies in the Nordic region through active ownership with decentralised profit and business responsibility. The Group consists of a number of companies that together constitute one of the Nordic region’s leading suppliers of industrial com-ponents, industrial services and other related services in the industrial sector. What the businesses have in common is that they help make customers’ operations easier, safer and more profitable by offering sustain-able, long-life products and services with a strong local presence close to customers. The Group generates revenue of approximately SEK 1.5 billion and has some 500 employees. Momentum Group's B share is listed on Nasdaq Stockholm. For more information, please visit momentum.group.