Continued high levels of customer activity, favourable demand and acquisitions all led to an increase in revenue of 26 per cent in the first quarter compared to the previous year, including 10 per cent attributable to comparable units. Growth combined with good cost control led to increased margins and an increase in EBITA of 36 per cent compared with the first quarter of the preceding year.
First quarter 2023
- Revenue increased by 26 per cent to SEK 502 million (399), of which 10 per cent was for comparable units.
- Operating profit rose by 49 per cent to SEK 55 million (37), corresponding to an operating margin of 11.0 per cent (9.3).
- EBITA increased by 36 per cent to SEK 60 million (44), corresponding to an EBITA margin of 12.0 per cent (11.0).
- Profit for the quarter increased by 50 per cent to SEK 42 million (28), corresponding to earnings per share of SEK 0.85 (0.55).
- The return on working capital (EBITA/WC) was 62 per cent (62).
- The equity/assets ratio was 43 per cent (50) at the end of the period.
- As of 31 March, the number of repurchased Class B shares totalled 1,259,624.
- Acquisition of Hydmos Industriteknik, which has a lead-ing position in advanced hydraulic and gas systems for use in high-pressure applications.
- Acquisition of LocTech, a comprehensive supplier of seals for rotating and static applications.
- Acquisition of Agera, a supplier-independent reseller of components and services to industrial customers.
Events after the end of the period
- No significant events occurred after the end of the period.
A quarterly presentation is 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.
