Increased profit and improved cash flow
Third quarter highlights
- Revenue increased by 0.2 per cent to MSEK 2,122 (2,118).
Organic growth was -3.0 per cent.
- Gross margin increased to 41.6 per
cent (40.7) . -
Adjusted EBITA increased by 6 per cent to MSEK 191 (181), corresponding to an adjusted EBITA margin of 9.0 per
cent (8.5) . -
Operating profit increased to MSEK 175 (166) and the operating margin was 8.2 per
cent (7.8) .
Operating profit was charged with items affecting comparability of MSEK 0 (0). - Profit amounted to MSEK 113 (118).
-
Earnings per share amounted to
SEK 2.25 (2.34). - Cash flow from operating activities increased to MSEK 34 (-91).
First nine months highlights
- Revenue increased by 4.8 per cent to MSEK 6,797 (6,488).
Organic growth was 1.1 per cent.
- Gross margin increased to 40.7 per
cent (40.1) . -
Adjusted EBITA increased by 13 per cent to MSEK 519 (458), corresponding to an adjusted EBITA margin of 7.6 per
cent (7.1) . -
Operating profit increased to MSEK 470 (401) and the operating margin was 6.9 per
cent (6.2) .
Operating profit was charged with items affecting comparability of MSEK -4 (-9).
- Profit from continuing operations amounted to MSEK 305 (287) and profit from discontinued operations to MSEK 0 (28).
The impact on earnings of the distribution ofMomentum Group was MSEK 0 (3,553) and total profit from the Group
amounted to MSEK 305 (3,868). -
Earnings per share from continuing operations amounted to
SEK 6.01 (5.69) and earnings per share from discontinued operations amounted toSEK 0.00 (0.55). The impact on earnings of the distribution ofMomentum Group wasSEK 0.00 (70.38) per share and earnings per share for the Group as a whole amounted toSEK 6.01 (76.62). - Cash flow from operating activities increased to MSEK 467 (90).
Comments from the CEO
"Market development remained weak during the third quarter, as expected, and we are gradually adapting the business to the new market situation. We increased profit and improved cash flow during the quarter despite a weaker sales trend."
"Our strategy remains unchanged, and we are well equipped to strengthen our position, even in a weaker market."
"Our excellent knowledge and experience within product development gives us the ability to develop new brands and more basic products without reducing either quality or our gross margins."
"In addition to streamlining, adapting and developing our own operations, we have both the financial and the organisational capacity to acquire and integrate new companies."
Significant events during the third quarter
- On 15 August,
Alligo's Board of Directors, on the basis of the authorization granted by the Annual General Meeting of24 May 2023 , decided to repurchase some of the company's own Class B shares. The aim of this is to enable companies or businesses to be acquired in the future using treasury shares, while also facilitating the adaptation of the Group's capital structure.
Events after the end of the period
Alligo has decided to consolidate its concept brands in the Nordic region. As a result, the company'sGrolls stores will be changing their name toSwedol inSweden and to Tools inFinland . InNorway , all the Univern stores will be brought together under the Tools brand. This change is already under way and will be completed during 2024.
Presentation of the interim report for the third quarter 2023
In conjunction with this,
Group President & CEO Clein Johansson Ullenvik and CFO
Date and time: Thursday,
Web link:https://edge.media-server.com/mmc/p/m8ufp679
Telephone conference:https://register.vevent.com/register/BIa0f7c05adc8a4a678ddce566d88726ab
To participate in the conference call, you need to register via the link above before the conference starts. When you register, you will receive a phone number and a personal code.
Contact information:
Clein Johansson Ullenvik, President & CEO, phone: +46 70 558 84 17, e-mail: clein.ullenvik@alligo.com
This information is information that
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