Sdiptech AB (publ) publishes interim report for the first quarter (January-March) 2024

Press release
25 April 2024, 08:00

Sdiptech AB (publ) publishes interim report for the first quarter (January-March) 2024
The report is available on the company's website: www.sdiptech.se

CONTINUED GROWTH WITH SOLID CASH FLOW

FIRST QUARTER 2024

• Net sales increased by 24% to SEK 1,335 million (1,076). In total for the Group, organic sales growth was 10%, excluding currency effects.
  
  
• EBITA, increased by 24% to SEK 255 million (206), corresponding to an EBITA margin of 19.1% (19.2)
  
  
• Adjusted EBITA increased by 24% to SEK 251 million (203), corresponding to an adjusted EBITA margin of 18.8% (18.9). Organic adjusted EBITA growth for the Group was 5%, excl. currency effects.
  
  
• Profit before tax for the Group amounted to SEK 158 (134) million and profit after tax amounted to SEK 107 million (96), of which SEK 106 million (96) was attributable to the Parent Company’s shareholders.
  
  
• Cash flow from operating activities amounted to SEK 167 million (98), corresponding to a cash conversion of 72% (45).
  
  
• Earnings per ordinary share (average number), less minority interests and dividends on preference shares, amounted to SEK 2.71 (2.43). After dilution, earnings per ordinary share amounted to SEK 2.71 (2.43).

• During the period, the acquisition of JR Industries Ltd in the UK was completed.
  
  

SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD

• On 11 April 2024 Sdiptech acquired all shares in WaterTech of Sweden AB in Sweden.
  
  

COMMENTS BY THE CEO

Sdiptech operates in areas that are generally stable and resilient to economic fluctuations. With good demand and strong market positions, we can demonstrate an organic sales growth of 10 percent for the quarter, as well as an organic profit growth of 5 percent in adjusted EBITA, excluding currency effects. At the same time, we had a steady cash flow from operating activities, which generated SEK 167 million.

QUARTER
Demand during the first quarter remained solid, resulting in organic sales growth of 10 percent excluding currency. Acquisitions also contributed, with a total sales increase of 24 percent. The continued stable demand is characterised by the fact that our units operate in sectors that are generally less sensitive to economic fluctuations. Our adjusted EBITA increased by 24 percent, of which 5 percent was organic excluding currency effects.