“Troax Group continued to perform well during the third quarter. We once again reached record levels in both order intake and sales. However, demand trends remained uneven across our regions and segments. The positive development within the warehousing segment, particularly in Europe, continued during the quarter, and our data centre business grew driven by strong demand in both North America and Europe. At the same time, demand from the automotive industry in Europe and Asia, as well as from the construction segment, remained weak,” says Martin Nyström, President & CEO.
Q3 in brief
- Order intake in the quarter increased by 60 percent compared with the same period last year and amounted to 99,7 (62,2) MEUR. Adjusted for currency, divestments and acquisitions the order intake was unchanged, compared with the corresponding period.
- Sales in the quarter increased by 51 percent compared with the same period last year and amounted to 96,9 (64,2) MEUR. Adjusted for currency effects and acquisitions, revenue increased by 5%.
- Operating profit before amortisations (EBITA) increased to 15,1 (10,3) MEUR.
- Operating margin before amortisations (EBITA margin) decreased to 15,6 (16,1) percent.
- Financial net was -6,5 (-0,9) MEUR. During the quarter, revaluations of contingent consideration had a negative impact on net financial items of 5.3 MEUR.
- Profit after tax increased to 7,1 (6,8) MEUR despite non-cash revaluations of contingent consideration.
- Adjusted earnings per share after dilution amounted to 0,25 (0,12) EUR.
- Earnings per share after dilution amounted to 0,12 (0,11) EUR.
- During the third quarter, one-off costs related to the North American production relocation impacted the reported operating profit by 2,1 MEUR.
- Net debt/EBITDA, excluding IFRS 16, incl.pro forma from acquisitions, increased to 3,1 (1,0)
Significant events after the reporting period
- On 1 October, Robert Burning assumed the role of CFO.
- On October 27, Troax Group launched Beyond Safety, a new brand direction aimed at creating increased customer value and strengthening the Group’s commercial platform.
Presentation of the report
Martin Nyström, President & CEO, and Robert Burning, CFO, will present the results in a webcast at 11:00 CET today. The presentation will be held in English and include a Q&A session.
To participate, please register in advance using the link:
https://events.teams.microsoft.com/event/80548b40-54b5-421a-9820-22f8284d72f1@3288c4ec-b004-4866-b1a1-dcf4b1d0c9e3
The report and presentation will be available on Troax Group's website:
Financial reports - Troax