Bergman & Beving AB

Interim Report 1 April–31 December 2020

Press release

Interim Report 1 April–31 December 2020

Third quarter (1 October–31 December 2020)

• Revenue increased by 11 percent to MSEK 1,086 (976).
• EBITA increased by 84 percent to MSEK 68 (37) and the EBITA margin improved to 6.3 percent (3.8).
• Net profit rose by 139 percent to MSEK 43 (18) and earnings per share rose to SEK 1.60 (0.65).
• Cash flow from operating activities amounted to MSEK 142 (151).

Nine months (1 April–31 December 2020)

• Revenue increased by 8 percent to MSEK 3,196 (2,970).
• EBITA increased by 31 percent to MSEK 198 (151) and the EBITA margin improved to 6.2 percent (5.1).
• Net profit rose by 43 percent to MSEK 123 (86) and earnings per share rose to SEK 4.60 (3.20).
• Cash flow from operating activities increased to MSEK 408 (245).

Significant events since the start of the operating year

• The COVID-19 pandemic had a variety of effects on operations and demand has varied between segments and regions. Demand for personal protective equipment remained strong, as did demand from construction customers. Demand from industrial customers continued to recover during the quarter. It is difficult to predict how demand will develop in the future.
• Four acquisitions were completed, two of which after the end of the period, with total annual revenue of approximately MSEK 90.
• Alexander Wennergren Helm stepped down from his role as Director.
• Charlotte Hansson was elected as a new Director at the Annual General Meeting on 26 August 2020.

CEO’s comments

Bergman & Beving continued its positive performance, which resulted in a significantly stronger quarter with favourable growth and improved earnings compared with the same period last year. Revenue increased by 15 percent in local currency, of which 12 percent was organic, which was a higher growth rate compared with earlier in the year. Operating profit (EBITA) increased by 84 percent to MSEK 68 and the operating margin improved to 6.3 percent. The operations also delivered a solid cash flow.  

Since the outbreak of the pandemic, demand has varied significantly between segments and regions. In general, demand was higher than in the preceding year and many of our units strengthened their positions in the market. Demand for personal protective equipment remained strong, as did demand from construction customers. The recovery in demand from industrial customers continued during the quarter, as observed in the beginning of the autumn. We have not yet felt the effects of the pandemic’s second wave and it is difficult to predict how demand will develop in the future.