Momentum Group Q1 2024: Stable start to the year despite continued economic downturn
The Group’s operations delivered favourable sales growth, with organic revenue growth of 5% in the quarter. Acquired businesses strengthened this growth, and the Group’s revenue increased by a total of 32% year on year. Revenue growth, combined with effective cost control, led to a 25% increase in EBITA compared with the same quarter last year.
First quarter 2024
- Revenue increased by 32% to SEK 661 million (502), of which 5% was attributable to comparable units.
- Operating profit rose by 18% to SEK 65 million (55), corresponding to an operating margin of 9.8% (11.0).
- EBITA increased by 25% to SEK 75 million (60), corresponding to an EBITA margin of 11.3% (12.0).
- Profit for the quarter amounted to SEK 43 million (42), corresponding to earnings per share of SEK 0.85 (0.85).
- The return on working capital (EBITA/WC) was 59% (62).
- The equity/assets ratio was 35% (43) at the end of the period.
- As of 31 March 2024, the number of repurchased Class B shares totalled 1,083,026.
- As of 1 January 2024, the business was divided into two business areas: Industry and Infrastructure.
- Acquisition of PW Kullagerteknik, a specialist in ball and rolling bearings.
Events after the end of the period
- Acquisition of KmK Instrument, a specialist in measurement technology, non-destructive testing and material testing.
- Acquisition of Sikama AB, a specialist in gas and fluid handling. Closing is expected to take place in the second quarter following regulatory approval.
- Acquisition of ZRS Testing Systems AB, a specialist in material testing and calibration. Closing is expected to take place in the second quarter.
A quarterly presentation is available on the company’s website, momentum.group, where Ulf Lilius, CEO and Andreas Cajbrandt, Group Accounting Manager, present the report and provide an update on operations.
