Increased sales and profitability in 2020 during a challenging fourth quarter

January - December

• Net sales increased +0.8 percent to SEK 310.1 (307.6) million (+3 percent in local currencies).
• EBIT was SEK 28.6 (6.2) million.
• The EBIT margin was 9.1 (2.0) percent.
• Profit after tax amounted to SEK 16.3 (4.9) million.
• Earnings per share before/after dilution amounted to SEK 0.88 (0.28).
• Cash flow from operating activities amounted to SEK 52.0 (17.7) million.
• Cash and cash equivalents at the end of the period amounted to SEK 101.2 (63.9) million.

Fourth quarter

• Net sales declined -20.6 percent to SEK 66.7 (84.0) million (-14.5 percent in local currencies).
• EBIT was SEK -4.0 (3.7) million.
• The EBIT margin was -6.0 (4.4) percent.
• Profit after tax amounted to SEK -7.0 (1.3) million.
• Earnings per share amounted to SEK -0.38 (0.07).
• Cash flow from operating activities amounted to SEK 47.2 (10.5) million.

Comments from the CEO

Looking at 2020 in the rear-view mirror, I can say that it has without doubt been one of my stormiest years as CEO for MSAB. The pandemic has defined an entirely new and untried playing field for society in general and for our justice system on a more micro level. It has also affected MSAB and our business. But there has been no lock-down when it comes to crime. It continues unabated, beyond the reach of our pandemic laws and the Public Health Agency of Sweden’s recommendations. The need to investigate crime and prosecute criminals was the same or greater. The need to streamline police and investigative activities has become increasingly clear and inevitable.

Our flexibility, sensitivity to customer needs, and our ability to adapt gives us the prerequisites for further development while sharpening our business. During this exceptional year, we continued to grow. For 2020, the Company is reporting its highest annual turnover ever. Profit has also increased significantly since 2019. This proves our ability to adapt and act on prevailing circumstances in a way that few companies our size can handle.

I am impressed by the loyalty of our staff and their devotion to MSAB. To succeed with the changes we implemented required initiative and ability at all levels and from all employees. At the same time, development of our products has continued with undiminished strength, and they represent the absolute cutting edge of what the branch has to offer today. The solutions are now so advanced that we have chosen to package the most unique of these as a separate service, delivered under strict confidentiality agreements with selected customers. Training has been executed and solutions have been delivered. With our international operations including employees in sixteen countries, the process – while not simple – has been completely necessary.