“Good end to the year with improved profitability and strong cashflow”
Sverker Lindberg, President and CEO

Fourth quarter 2023

  • Net sales increased 4 percent to SEK 271 M (261). Organic growth was 3 percent.
  • EBITA increased SEK 30 M to SEK 15 M (-15). Restructuring costs had a negative effect on the result by SEK -5 M (-11).
  • Operating profit increased SEK 19 M to SEK 19 M (0). Revaluation of earnouts and write-downs of acquisition-related assets had a net effect on the result by SEK 7 M (18).
  • Net result after tax was SEK 7 M (-10).
  • Cash flow from operating activities was SEK 71 M (-16).
  • Earnings per share before dilution was SEK 0.26 (-0.37) and after dilution SEK 0.25 (-0.36).
  • The group was renamed HAKI Safety in December 2023.
  • Earnout for the acquisition of Novakorp Systems was renegotiated with a reduction of the maximum amount to EUR 5 M (7) and with an extended earning period.
  • FAS Converting Machinery was divested on January 24, 2024.

January – December 2023

  • Net sales increased 2 percent to SEK 1,188 M (1,168). Organic net sales reduction was 12 percent.
  • EBITA increased SEK 6 M to SEK 90 M (84).
  • Operating profit decreased SEK 3 M to SEK 99 M (102).
  • Net result after tax was SEK 62 M (71).
  • Cash flow from operating activities was SEK 153 M (-53).
  • Earnings per share before dilution was SEK 2.27 (2.60) and after dilution SEK 2.24 (2.57).

Dividend

  • The Board of Directors proposes the Annual General Meeting a dividend of SEK 0.90 per share (0.80).


Financial summary2023
Q4		2022
Q4		2023
Q1-Q4		2022
Q1-Q4
Net sales2712611,1881,168
Gross profit9074397362
EBITA15-159084
Operating profit19099102
Profit before tax10-117892
Net result7-106271





Net sales, growth %3.810.61.735.3
Gross margin, %33.228.433.431.0
EBITA, %5.5-5.67.67.2
Operating margin, %7.00.08.38.7
Earnings per share, before dilution, SEK0.26-0.372.272.60
Earnings per share, after dilution, SEK0.25-0.362.242.57
Cash flow operating activities, SEK71-16153-53
Net debt, SEK M376406376406
Solidity, %48424842

This is a translation of the company’s Interim Report in Swedish.

Film about the fourth quarter 2023

Meet Sverker Lindberg, President and CEO, and Tomas Hilmarsson, CFO, who present the development during the fourth quarter.
The link to the film is accessible here.

For more information, contact

Sverker Lindberg, President and CEO
Email: sverker.lindberg@hakisafety.com
Phone: +46 40 30 12 10

Tomas Hilmarsson, CFO
Email: tomas.hilmarsson@hakisafety.com
Phone: +46 40 30 12 10

About HAKI Safety AB (publ)

HAKI Safety (formerly Midway Holding) is an international industrial group, focusing on safety products and solutions that create safe working conditions at temporary workplaces. The group has annual sales of about 1.2 billion SEK and has since 1989 been listed on the Nasdaq Stockholm Small Cap. HAKI Safety offers a wide range of products and solutions within system scaffolding, work zone safety, digital solutions, and technical support that help customers achieve safety and efficiency in their environments.

This information is information that HAKI Safety 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 2024-02-07 07:30 CET.

Attachments

Interim Report Oct Dec 2023 HAKI Safety AB (publ)

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