Correction: Karnell Interim report January – September 2024
The earlier version of this press release incorrectly stated in some places that the period referred to the second quarter and the first half of the year. The press release covers the third quarter and the period 1 January - 30 September. Corrected version below.
“A strong quarter with organic growth and the highest EBITA margin to date, which, together with two strategic acquisitions, strengthens Karnell’s position and enables continued growth.” Petter Moldenius, CEO
Summary of the third quarter (July 1 – September 30, 2024)
- Net sales for the third quarter increased by 37.1% to SEK 356.6 million (260.0), of which organic growth amounted to 4.8%.
- EBITA amounted to SEK 54.9 million (37.8), an increase of 45.4%.
- The quarter was impacted by SEK 4.4 million (0.9) of acquisition costs.
- Operating profit (EBIT) amounted to SEK 50.6 million (37.1), an increase of 36.3%.
- Cash flow from operating activities for the quarter amounted to SEK 45.5 million (7.4).
- Earnings per share for the quarter after dilution amounted to SEK 0.53 (0.72).
- During the quarter, two acquisitions were completed.
Summary of the period (January 1 – September 30, 2024)
- Net sales for the period increased by 25.1% to SEK 999.4 million (798.9), of which organic growth amounted to 2.6%.
- EBITA amounted to SEK 115.6 million (101.4), an increase of 14.1%.
- The period was charged by approximately SEK 7.2 million (2.4) in costs related to the IPO, as well as SEK 8.4 million (2.3) in acquisition costs.
- Operating profit (EBIT) amounted to SEK 105.0 million (99.3), an increase of 5.8%.
- Cash flow from operating activities for the period amounted to SEK 88.0 million (48.5).
- Capital raising and transactions with owners have provided the Group with a total of SEK 287.0 million after issue costs.
- Earnings per share after dilution amounted to SEK 0.92 (1.57).
- During the period, four acquisitions and one add-on acquisition were completed.
Presentation of the report
Karnell presents the interim report for the third quarter 2024 via webcast and telephone conference today, November 8, at 8:30 am CEST. The report is presented by CEO Petter Moldenius and CFO Lars Neret. The presentation will be held in English and includes a Q&A session.
If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions.
https://tv.streamfabriken.com/karnell-group-q3-2024
If you wish to participate and ask questions via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference.
https://conference.financialhearings.com/teleconference/?id=5008567