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2022-04-22

SVEDBERGS: Interim report Q1 January - March 2022

More than doubling sales and earnings

First quarter in summary

January-March 2022

  • Net sales SEK 488,1m (201,7), +142 percent (13 percent organic)
  • EBITA result SEK 73,4m (28,7), +156 percent
  • EBIT result SEK 67,7m (24,9) +172 percent
  • Items affecting comparability SEK 0,6m[ ](2,7)
  • Profit before tax SEK 64,1m (25,7)
  • Earnings per share SEK 1,49 (0,96)
  • Cash flow from operating activities SEK 57,7m (1,5)

Important events during the quarter

  • Svedbergs carries out a successful rights issue that yields SEK 480m after issue costs. The issue was oversubscribed by 70%.
  • In March, the main owner Stena Adactum increased its ownership to over 30%, which is why, according to the exchange's rules, it was obliged to submit a so-called mandatory bid.
  • Roper Rhodes wins a Reddot Award (design award) for "Loop", an intelligently rechargeable mirror.
  • New dividend policy adopted by the Board.

Important events after the end of the period

  • The period for acceptance of Stena Adactum's mandatory bid lasts during the period 4 April to 4 May.
  • In connection with the mandatory bid offer, independent board members formed a mandatory bid committee which unanimously recommended to the shareholders not to accept the bid. An independent company was hired to evaluate the bid

Financial goals

The financial goals for the Group decided by the Board are:

  • Average growth of 10 percent annually, including acquisitions.
  • EBITA margin exceeding 15 percent.

This is information that Svedbergs i Dalstorp AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act.

This information was submitted for publication on 22 April 2022 at 08:30 (CET).

Svedbergs started in 1920 and the Group operates in the Nordic region and in the UK. The Group's companies develop, design and sell bathroom furniture and related products. Under the motto collaboration without confusion, the Group's companies continuously develop their product range for the entire bathroom. Through close cooperation with partners, the consumer's desires are satisfied. The Group operates under the brands Svedbergs, Macro Design, Cassøe, Roper Rhodes, Tavistock and R2. The parent company Svedbergs i Dalstorp AB conducts its operations in Dalstorp outside of Ulricehamn and its subsidiary companies Macro Design in Laholm, Cassøe A/S in Herning Denmark and Roper Rhodes, including Tavistock and R2, in Bath, England.

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