Momentum Group concluded its first year as a listed company with favourable sales performance combined with increased earnings. Revenue increased by 23 per cent, of which 11 per cent for comparable companies, and EBITA rose by 19 per cent compared with the fourth quarter last year. This growth was the result of structured improvement efforts in the Group’s companies, with a focus on profitable growth – in combination with acquisition-driven growth.
Fourth quarter 2022
- Revenue increased by 23 per cent to SEK 494 million (402), of which 11 per cent was for comparable units.
- Operating profit rose by 37 per cent to SEK 52 million (38), corresponding to an operating margin of 10.5 per cent (9.5).
- EBITA increased by 19 per cent to SEK 56 million (47), corresponding to an EBITA margin of 11.3 per cent (11.7).
- Profit for the quarter increased by 39 per cent to SEK 39 million (28), corresponding to earnings per share of SEK 0.75 (0.55).
- Acquisition of Börjesson Pipe Systems, a leader in sustainable flow technology solutions and products.
- Acquisition of JOKRAB, which specialises in the regulation of automatics and pneumatics.
Full-year 2022
- Revenue increased by 17 per cent to SEK 1,739 million (1,491), of which 10 per cent was for comparable units.
- Operating profit rose by 19 per cent to SEK 185 million (155), corresponding to an operating margin of 10.6 per cent (10.4). Profit included expenses affecting comparability of SEK –6 million (–6) attributable to the separate listing process.
- EBITA increased by 19 per cent to SEK 204 million (171), corresponding to an EBITA margin of 11.7 per cent (11.5).
- Profit for the period increased by 20 per cent to SEK 140 million (117), corresponding to earnings per share of SEK 2.70 (2.30).
- The return on working capital (EBITA/WC) was 61 per cent (61).
- The equity/assets ratio was 42 per cent (47) at the end of the period.
- The Board proposes a dividend of SEK 1.00 per share (–).
- Separate listing of the new Momentum Group on Nasdaq Stockholm’s main list on 31 March.
- Acquisition of the Danish automation supplier HNC Group in the second quarter and acquisition of the measurement technology company Mytolerans in the third quarter.
- As of 31 December, the number of repurchased Class B shares totalled 1,259,624.
Events after the end of the period
- Acquisition of Hydmos Industriteknik, which has a leading position in advanced hydraulic and gas systems for use in high-pressure applications.
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.
