Momentum Group Q1 2022: Stable business situation and positive earnings trend despite global concerns

2022-04-27 08:00:00

Favourable underlying demand in both business areas, but the global component shortage and Covid-19 related sickness absence had a certain impact on sales during the quarter. Organic sales growth combined with good cost control and well-managed price increases from suppliers led to an increase in EBITA of 19 per cent compared with the first quarter of the preceding year.

First quarter 2022

  • Revenue increased by 14 per cent to SEK 399 million (350), of which 11 per cent was for comparable units.
  • Operating profit rose by 6 per cent to SEK 37 million (35), corresponding to an operating margin of 9.3 per cent (10.0). Profit included expenses affecting comparability of SEK -4 million attributable to the separate listing process.
  • EBITA increased by 19 per cent to SEK 44 million (37), corresponding to an EBITA margin of 11.0 per cent (10.6).
  • Profit for the quarter increased by 4 per cent to SEK 28 million (27), corresponding to earnings per share of SEK 0.55 (0.55).
  • The return on working capital (EBITA/WC) was 62 per cent (53).
  • The equity/assets ratio was 50 per cent (36) at the end of the period.
  • An Extraordinary General Meeting (EGM) on 26 January resolved on a changed share structure and a bonus issue.
  • The Annual General Meeting was held on 11 February and resolved to change the company from a private to a public company.
  • On 23 March, an EGM of Shareholders of Alligo AB resolved to distribute and list Momentum Group separately.
  • Momentum Group was listed on Nasdaq Stockholm’s main list on 31 March.

Events after the end of the period

  • No significant events took place 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 review the report and provide an update on operations.

MFN