Bergman & Beving AB

Interim Report 1 April–31 December 2020 - Seite 2

The Workplace Safety division delivered a strong quarter with a favourable earnings performance. The improvement was primarily driven by the largest units, Skydda and Guide, but also by improved profitability in the smaller units. The Building Materials division also improved its results thanks to a favourable sales trend and cost control. One gratifying example is the growth in ESSVE Industry, where previous restructuring measures have had a positive impact. The Tools & Consumables division recovered, with a steady earnings improvement compared with previous periods during the year. 

Our acquisitions contributed to the positive earnings performance during the quarter and so far this year. Thanks to our positive cash flow and our strong balance sheet, we stepped up our acquisition agenda and completed four attractive acquisitions. The intention is to complete additional value-generating acquisitions going forward and we have continuous discussions with several companies of interest. 

Despite the uncertain market conditions and negative currency effect, the Group increased its earnings. This is rewarding and an effect of the continuous improvement efforts carried out in our various units. There is great potential in all of our divisions and we have considerable room for improvement. One prioritised focus area is to increase our value generation in order to strengthen our margins. We are continuing to work on our decentralised structure, with clear objectives and measures at each company. The units are working continuously on improvements to strengthen their competitiveness and leverage growth opportunities, whether organic or through acquisitions. All told, this gives me great hope for the future. 

Stockholm, February 2021 

Pontus Boman

President & CEO

For further information, please contact:

Pontus Boman, President & CEO, Tel: [phone]

Peter Schön, CFO, Tel: [phone]

This information is information that Bergman & Beving 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 7:45 a.m. CET on 5 February 2021.

Bergman & Beving owns and refines companies that develop and market strong brands for professional users in industry and construction, mainly in the Nordic region, the Baltic States and Poland. Bergman & Beving aims to enable successful product companies to take the next step and become leading brands in their categories. The Group currently has some 20 brands, about 1,000 employees and revenue of approximately SEK 4 billion. Bergman & Beving is listed on Nasdaq Stockholm. Read more on the company’s website: www.bergmanbeving.com.

 

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