Momentum Group Q4 2022: Continued earnings and revenue growth

2023-02-15

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.

For further information, please contact:

Ulf Lilius, President and CEO
Tel: +46 (0)8 92 90 00

Ann Charlotte Svensson, Investor Relations
Tel: +46 (0)720 85 72 62
info@momentumgroup.com.se

About Momentum Group

Momentum Group operates, 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 com-ponents, industrial services and other related services in the industrial sector. What the businesses have in common is that they help make customers’ operations easier, safer and more profitable by offering sustain-able, long-life products and services with a strong local presence close to customers. The Group generates revenue of approximately SEK 1.7 billion and has some 550 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. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-02-15 07:55 CET.