Bergman & Beving’s Interim Report 1 April–30 June 2021
Press release
Bergman & Beving’s Interim Report 1 April–30 June 2021
First quarter (1 April–30 June 2021)
- Revenue rose by 9 percent to MSEK 1,193 (1,097).
- EBITA increased by 22 percent to MSEK 78 (64) and the EBITA margin improved to 6.5 percent (5.8).
- Net profit rose by 20 percent to MSEK 48 (40) and earnings per share rose to SEK 1.80 (1.50).
- Magnus Söderlind started as President and CEO for Bergman & Beving AB on 1 May 2021.
- Two acquisitions were carried out, with total annual revenue of approximately MSEK 64.
CEO’s comments
The Group’s positive performance continued during the first three months of the financial year. Revenue increased by 9 percent to MSEK 1,193, of which 4 percent was organic and 5 percent was from acquisitions. Operating profit (EBITA) increased by 22 percent to MSEK 78 (64) and the operating margin improved to 6.5 (5.8) percent. The most recent acquisitions have gone according to plan and made positive contributions to the results for the quarter.
Demand in our main markets was generally strong during the quarter. Several of our companies experienced longer lead times and disruptions in their supply chains, but without a significant impact on their deliveries or invoicing for the quarter. Many of our companies experienced price increases from their suppliers and took measures to offset these cost increases during the quarter. Overall, the effects on the Group’s revenue and earnings are considered to be small. Instead, we see opportunities to strengthen our market shares and increase our value generation.
The ongoing pandemic has had a limited impact on our revenue and the recovery in demand from our industrial customers continued during the quarter, which generated significant improvements in earnings and the operating margin for the Tools & Consumables division. The Building Materials division also improved its earnings, primarily thanks to a favourable sales trend. Despite improved earnings in most of its units during the quarter, the Workplace Safety division posted lower earnings since its largest unit, Skydda, achieved lower revenue and earnings than in the same quarter last year which contained positive effects of the pandemic.
Demand in our main markets is expected to remain strong. Continued local pandemic restrictions along with disruptions in the supply chain and longer delivery times may have an effect on the business situation. There is continued potential for improvement in all divisions. One prioritised focus area is to increase our value generation in order to strengthen our margins. We will continue to improve our earnings through our decentralised governance model, maintaining clear objectives in each company while acquiring highly profitable operations with strong niche positions. All told, this gives me great hope for Bergman & Beving’s future.
Stockholm, July 2021
Magnus Söderlind
President & CEO
For further information, please contact:
Magnus Söderlind, President & CEO, Tel: +46 10 454 77 00
Peter Schön, CFO, Tel: +46 70 339 89 99
This information is information that Bergman & Beving 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 person set out above, at 7:45 a.m. CEST on 14 July 2021.
Bergman & Beving consists of leading companies with niche products and brands for professional users in manufacturing and construction in northern Europe. The Group consists of about 20 operations in about 20 countries. Bergman & Beving is listed on Nasdaq Stockholm and has about 1,200 employees and generates revenue of approximately SEK 4.5 billion.
Read more on the company’s website: www.bergmanbeving.com.
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