Brief: Addtech Q1 EBIT Up At SEK 332 Mln

Addtech AB

16/07/2021 07:23

July 16 (Reuters) - Addtech AB  ADDTb.ST :
    * INTERIM REPORT 1 APRIL - 30 JUNE 2021
    * Q1 NET SALES SEK 3,279 MILLION VERSUS SEK 2,805 MILLION
YEAR AGO
    * Q1 EBIT SEK 332 MILLION VERSUS SEK 243 MILLION YEAR AGO
    * Q1 OPERATING PROFIT BEFORE AMORTISATION OF INTANGIBLE
NON-CURRENT ASSETS (EBITA) INCREASED BY 31 PERCENT AND AMOUNTED
TO SEK 402 MILLION (306)
    * MARKET WAS VERY STRONG DURING Q1 AND ORGANIC INCREASE IN
SALES
AMOUNTED TO 11 PERCENT
    * AS A RESULT OF STRONG MARKET SITUATION, ALL BUSINESS AREAS
ENJOYED GOOD DEVELOPMENT OVER QUARTER
    * DEMAND IS PARTLY STRENGTHENED BY THE CURRENT SITUATION
WITH
GLOBAL COMPONENT SHORTAGES AND EXTENDED LEAD TIMES, LEADING MANY
CUSTOMERS TO BUILD SAFETY STOCKS AS A CONSEQUENCE
    * MARINE SECTOR REMAINED WEAK, WHILE WE SAW A POSITIVE
DEVELOPMENT
IN ELECTRICITY-RELATED PRODUCTS FROM BUILDING AND INSTALLATION
CUSTOMERS
    * WE LEAVE THE FIRST QUARTER WITH A VERY GOOD ORDER BACKLOG
AND WE
GENERALLY EXPECT DEMAND TO PERSIST, BUT TO SETTLE AT A HIGH
LEVEL AS THE GLOBAL SUPPLY CHAINS STABILISE
    * WE ALSO ESTIMATE THAT COST LEVELS WILL GRADUALLY RISE AS
THE
LEVEL OF ACTIVITY AMONG COMPANIES INCREASES

Source text for Eikon:  ID:nWkrbtBK5w 
Further company coverage:  ADDTb.ST 

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