“Good end to the year with improved profitability and strong cashflow”
Sverker Lindberg, President and CEO
Fourth quarter 2023
- Net sales increased 4 percent to SEK 271 M (261). Organic growth was 3 percent.
- EBITA increased SEK 30 M to SEK 15 M (-15). Restructuring costs had a negative effect on the result by SEK -5 M (-11).
- Operating profit increased SEK 19 M to SEK 19 M (0). Revaluation of earnouts and write-downs of acquisition-related assets had a net effect on the result by SEK 7 M (18).
- Net result after tax was SEK 7 M (-10).
- Cash flow from operating activities was SEK 71 M (-16).
- Earnings per share before dilution was SEK 0.26 (-0.37) and after dilution SEK 0.25 (-0.36).
- The group was renamed HAKI Safety in December 2023.
- Earnout for the acquisition of Novakorp Systems was renegotiated with a reduction of the maximum amount to EUR 5 M (7) and with an extended earning period.
- FAS Converting Machinery was divested on January 24, 2024.
January – December 2023
- Net sales increased 2 percent to SEK 1,188 M (1,168). Organic net sales reduction was 12 percent.
- EBITA increased SEK 6 M to SEK 90 M (84).
- Operating profit decreased SEK 3 M to SEK 99 M (102).
- Net result after tax was SEK 62 M (71).
- Cash flow from operating activities was SEK 153 M (-53).
- Earnings per share before dilution was SEK 2.27 (2.60) and after dilution SEK 2.24 (2.57).
Dividend
- The Board of Directors proposes the Annual General Meeting a dividend of SEK 0.90 per share (0.80).
| Financial summary | 2023
Q4 | 2022
Q4 | 2023
Q1-Q4 | 2022
Q1-Q4 |
| Net sales | 271 | 261 | 1,188 | 1,168 |
| Gross profit | 90 | 74 | 397 | 362 |
| EBITA | 15 | -15 | 90 | 84 |
| Operating profit | 19 | 0 | 99 | 102 |
| Profit before tax | 10 | -11 | 78 | 92 |
| Net result | 7 | -10 | 62 | 71 |
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| Net sales, growth % | 3.8 | 10.6 | 1.7 | 35.3 |
| Gross margin, % | 33.2 | 28.4 | 33.4 | 31.0 |
| EBITA, % | 5.5 | -5.6 | 7.6 | 7.2 |
| Operating margin, % | 7.0 | 0.0 | 8.3 | 8.7 |
| Earnings per share, before dilution, SEK | 0.26 | -0.37 | 2.27 | 2.60 |
| Earnings per share, after dilution, SEK | 0.25 | -0.36 | 2.24 | 2.57 |
| Cash flow operating activities, SEK | 71 | -16 | 153 | -53 |
| Net debt, SEK M | 376 | 406 | 376 | 406 |
| Solidity, % | 48 | 42 | 48 | 42 |
This is a translation of the company’s Interim Report in Swedish.