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Interim Report Q2 2021

2021-08-16
Storskogen showed strong growth during the first half of the year, both in terms of sales and operating profit (EBITA).

“Storskogen’s 7,000 employees in 21 countries have been doing a fantastic job. Had we owned all our companies for the past 12 months (RTM) we would be looking at annual sales close to SEK 19 billion and EBITA of SEK 2.1 billion. The first half of the year brought organic EBITA growth of 43 percent and total EBITA growth of 71 percent. We made 25 acquisitions in the second quarter, some of them large and complex, such as Wibe Group, Brenderup Group and Artum. We have also strengthened our financing and are well positioned both operationally and strategically for further profitable growth.” Daniel Kaplan, CEO Storskogen Group.” Daniel Kaplan, CEO and co-founder, Storskogen.

SECOND QUARTER (1 APRIL-30 JUNE 2021)

  • Net sales increased by 81 percent to SEK 3,821m (2,109).
  • Operating profit (EBIT) grew by 46 percent to SEK 298m (204), equivalent to an operating margin of 7.8 percent (9.7).
  • Adjusted operating profit before amortization of intangible noncurrent assets (EBITA) increased by 73 percent to SEK 383m (221), equivalent to an adjusted EBITA margin of 10.0 percent (10.5).
  • Profit for the period climbed by 48 percent to SEK 210m (142).
  • Earnings per A-share came to SEK 1.43 (1.31) and 1.39 (1.33) per Bshare.
  • Cash flow from operating activities amounted to SEK 891m (345).
  • A private placement and two non-cash issues were carried out during the period June-July to a total amount of SEK 3,650 million before costs. An issue payment of SEK 2,460 million and the noncash issues of a total of SEK 861 million were attributed to the second quarter. The remaining part of the issue proceeds was received during the third quarter. The cost of the issue amounted to SEK 19 million.
  • 25 acquisitions were made during the quarter, with combined annual sales in 2020 of SEK 5,867m.
  • On 4 May, Storskogen issued an unlisted senior unsecured bond for SEK 3,000m with a maturity of three years.
  • A dividend was paid of SEK 4.00 per Series B share and SEK 4,09 per A-share.

FIRST HALF (1 JANUARY-30 JUNE 2021)

  • Net sales increased by 61 percent to SEK 6,713m (4,177).
  • Operating profit grew by 52 percent to SEK 530m (349),equivalent to an operating margin of 7.9 percent (8.3).
  • Adjusted EBITA increased by 71 percent to SEK 654m (382), equivalent to an EBITA margin of 9.7 percent (9.2).
  • Profit for the period climbed by 57 percent to SEK 381m (243).
  • Cash flow from operating activities amounted to SEK 1,088m
  • (251).
  • Return on equity was 12.6 percent (11.4).
  • 43 acquisitions were made during the period, with combined annual sales in 2020 of SEK 8,347m.

Amounts in parentheses are for the corresponding period in 2020.

 

Webcast (published at 17.00 CET):
CEO Daniel Kaplan and CFO Lena Glader comments on the second quarter and half-year developments in Storskogen. 

Focus on Business Area Trade; Daniel Kaplan, CEO, Christer Hansson, Storskogen EVP/Head of Business Area Trade and Jonas Cedås, CEO of Storskogens business unit Båstad-Gruppen provides insight into the business area Trade with a special focus on Båstad-Gruppen.

https://www.storskogen.com/en/investors/financial-report/2021/interim-report-q2-2021/

 

For further information, please contact:

Daniel Kaplan, CEO and co-founder
Tel: +46 73 - 920 94 00
Email: daniel.kaplan@storskogen.com

Lena Glader, CFO
Tel: +46 73 - 988 44 66
Email: lena.glader@storskogen.com

For media inquiries, please contact:

Michael Metzler, Press Officer
Tel
: +46 704 555 881
Email: michael.metzler@storskogen.com

About Storskogen

Storskogen acquires and manages well-managed and profitable small and medium-sized companies in Industry, Trade and Services in the Nordic countries, DACH and the United Kingdom. At the end of the first half-year 2021, Storskogen consisted of 94 business units with a total of 7,000 employees and a turnover of almost SEK 11.5 billion.

Daniel Kaplan, CEO, and Lena Glader, CFO present Storskogens Interim Report for the second quarter 2021.

CEO Daniel Kaplan talks with Christer Hansson, Head of Business Area Trade.

CEO of Storskogen, Daniel Kaplan talks with Jonas Cedås, CEO for the subsidiary/business unit Båstad-Gruppen and Storskogen's Head of Business Area Trade, Christer Hansson.