Corrected report attached. The correction has no impact on the KPIs or the rest of the report and no changes have been made apart from the below.
The correction refers to that the press release hade a typo in the table named "Impact after the acquisition date included in the
Strong quarter with improved profitability
July -
** Net sales increased by 18.7 percent and amounted to
** EBITA increased by 22.7 percent and amounted to
** Depreciation/amortisation of property, plant and equipment and intangible assets increased by
** Operating profit (EBIT) increased by 24.1 percent and amounted to
** Cash flow from operating activities amounted to
** Earnings per share before dilution amounted to
** One acquisition was made during the period, which, on an annual basis, contributes an estimated total sales of
January -
** Net sales increased by 22.8 percent and amounted to
** EBITA increased by 24.3 percent and amounted to
** Depreciation/amortisation of property, plant and equipment and intangible assets increased by
** Operating profit (EBIT) increased by 20.0 percent and amounted to
** Cash flow from operating activities amounted to
** Earnings per share before dilution amounted to
** Nine acquisitions were made during the period, which, on an annual basis, contribute an estimated total sales of
Comments from CEO
The third quarter, with a strong September, resulted in a good development for
Although the underlying need and demand for our services as regards both new construction and renovation is generally high, the rate of new orders for installation assignments has slowed down due the overall macroeconomic situation.
With that it mind, it is thus gratifying that segment
A more resilient company today
Our favourable performance in the third quarter, despite the prevailing market situation, is a sign of strength, which is evidence of the power we derive from the diversification we have undergone in recent years, both geographically and by expanding into new disciplines. Although the demand for traditional installation services in some regions has decreased, our efforts in the industrial area are going strong and we continue to have a low exposure to the housing segment.
We are also benefiting from our focus on the middle section of the market in terms of project size, as well as from the unique balance we have between control and decentralisation in our organisation. We are also noticing the effects of our strategic focus on the service offering, which is less sensitive to cyclical fluctuations. In fact, it was responsible for 28 percent of our revenue in the quarter. This make us stronger and more resilient than we used to be, although not entirely immune. Our order backlog remains steady at a good level.
Continued expansion and improved cash flow
During the quarter, we continued to execute on our acquisition strategy, although at a somewhat slower tempo. Our new company, URD
As a rule, we prefer to fully own our subsidiaries. For some acquisitions and start-ups however, we make some tactical exceptions. In those cases, the plan is to continue acquiring additional shares in profitable businesses, which is something that we did during the quarter.
We have had a high rate of acquisition during the year and are delighted to have added so many great new companies to the
Expanded sustainability reporting on the agenda
We are intensifying our ESG work in many areas. In
Our efforts in
Installers are key players in the green transition. Besides the work we are doing in our own organisation, we are also, each and every day, helping our customers select and implement energy-efficient, resource-saving installations when they build for a better tomorrow. It's a journey we've only just seen the beginning of.
Report presentation
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This information is information that
For further information:
https://news.cision.com/instalco/r/correction--interim-report-january---september-2023,c3864470
https://mb.cision.com/Main/15570/3864470/2391868.pdf
https://mb.cision.com/Public/15570/3864470/8315af4fbe12d66e.pdf
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