Momentum Group Q2 2024: Stable performance with strong contribution from acquisitions

The Group’s operations continued to deliver favourable sales growth during the quarter, with organic revenue growth of 1%. The Group’s revenue increased by a total of 41% year on year, where acquired businesses contributed in particular to this growth. EBITA increased by 35 per cent compared with the same quarter last year. Year to date, seven companies have been acquired, adding combined annual revenue of approximately SEK 250 million.

Second quarter 2024

• Revenue increased by 41% to SEK 773 million (549), of which 1% was attributable to comparable units.
• Operating profit rose by 31% to SEK 77 million (59), corresponding to an operating margin of 10.0% (10.7).
• EBITA increased by 35% to SEK 88 million (65), corresponding to an EBITA margin of 11.4% (11.8).
• Profit for the quarter amounted to SEK 54 million (43), corresponding to earnings per share of SEK 1.05 (0.90).
• Acquisition of KmK Instrument, a specialist in measurement technology, non-destructive testing and material testing.
• Acquisition of Hydjan, a specialist in hydraulics and pneumatics in Finland.
• Acquisition of WH-Service, a full-service supplier of rotating equipment.
• Acquisition of Sikama, a specialist in gas and fluid handling.
• Acquisition of ZRS Testing Systems, a specialist in material testing and calibration.
• Acquisition of Minrox, a specialist in flow technology for exposed environments and extremely abrasive processes.

January–June 2024

• Revenue increased by 36% to SEK 1,434 million (1,051), of which 3% was attributable to comparable units.
• Operating profit rose by 25% to SEK 142 million (114), corresponding to an operating margin of 9.9% (10.8).
• EBITA increased by 30% to SEK 163 million (125), corresponding to an EBITA margin of 11.4% (11.9).
• Profit for the period amounted to SEK 97 million (85), corresponding to earnings per share of SEK 1.90 (1.75).
• The return on working capital (EBITA/WC) was 59% (60).
• The equity/assets ratio was 30% (32) at the end of the period.
• As of 30 June 2024, the number of repurchased Class B shares totalled 1,053,766.
• As of 1 January 2024, the business was divided into two business areas: Industry and Infrastructure.
• During the first quarter, PW Kullagerteknik was acquired.

Events after the end of the period

• No significant events have occurred after the end of the period.

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

For further information, please contact:

Ulf Lilius, President & CEO
Tel: +46 8 92 90 99

Niklas Enmark, CFO
Tel: +46 703 93 66 73
info@momentumgroup.com.se

Ann-Charlotte Svensson, IR
Tel: +46 720 85 72 62
info@momentumgroup.com.se

About Momentum Group

Momentum Group 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 components, industrial services and other related services for customers in industry and industrial infrastructure. What the businesses have in common is that they help make customers’ operations easier, safer and more profitable by offering sustainable, long-life products and services with a strong local presence close to customers. The Group generates revenue of approximately SEK 2.7 billion and some 800 employees. Momentum Group's B share is listed on Nasdaq Stockholm. For more information, please visit momentum.group.

This information is information that Momentum Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-07-17 07:55 CEST.