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Interim report January–March 2024 – HAKI Safety AB (publ)

“Improved gross margin in a continued soft market,” Sverker Lindberg, President and CEO

First quarter 2024

  • Net sales declined 32 percent to SEK 242 M (355). Organically, net sales declined 27 percent.
  • Adjusted EBITA declined and amounted to SEK 14 M (34).
  • Operating profit declined SEK 25 M and amounted to SEK 7 M (32). Non-recurring items of SEK 5 M regarding the divestment of FAS Converting Machinery had a negative impact on the operating profit.
  • Net result after tax was SEK 4 M (19).
  • Cash flow from operating activities amounted to SEK -18 M (60).
  • Earnings per share before dilution totalled SEK 0.15 (0.70) and after dilution SEK 0.15 (0.69).
  • New financial targets and a new reporting structure were presented at the Capital Markets Day on March 14, 2024.
  • A new warehouse and office were established in Stavanger, Norway, to meet the increasing demand for the energy sector in Norway.
  • The divestment of FAS Converting Machinery was finalised during the first quarter.

This is a translation of the Swedish original version. If there are any differences between this translation and the original Swedish language, the latter shall prevail.

Financial summary2024
Q1		2023
Q1		2023
Q1-Q4
Net sales2423551,188
Gross profit87112397
Adjusted EBITA143495
Operating profit73299
Profit before tax42578
Net result41962




Net sales, growth %-31.826.31.7
Gross margin, %36.031.533.4
Adjusted EBITA, %5.89.68.0
Operating margin, %2.99.08.3
Earnings per share, before dilution, SEK0.150.702.27
Earnings per share, after dilution, SEK0.150.692.24
Cash flow operating activities, SEK-1860153
Financial net debt, SEK M285278298
Financial net debt / Adjusted EBITDA excl. IFRS 16, times2.21.91.9
Equity/assets ratio, %494248

For more information, contact

Sverker Lindberg, President and CEO
Email: sverker.lindberg@hakisafety.com
Phone: +46 40 30 12 10

Tomas Hilmarsson, CFO
Email: tomas.hilmarsson@hakisafety.com
Phone: +46 40 30 12 10

About HAKI Safety AB (publ)

HAKI Safety (formerly Midway Holding) is an international industrial group, focusing on safety products and solutions that create safe working conditions at temporary workplaces. The group has annual sales of about SEK 1.2 billion and has since 1989 been listed on the Nasdaq Stockholm Small Cap. HAKI Safety offers a wide range of products and solutions within system scaffold and work zone safety, and digital and technical solutions that help customers achieve safety and efficiency in their environments.

This information is information that HAKI Safety 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 2024-04-22 13:00 CEST.

Attachments

Interim Report Q1 2024 HAKI Safety AB (publ)

Source:MFN
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