HANZA Interim report January - March 2023

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May 03, 2023, 02:16 ET

STOCKHOLM, May 3, 2023 /PRNewswire/ -- HANZA AB reports the company's strongest quarter to date, with sales exceeding 1 bn SEK and a significant increase in margins. Furthermore, the company reports an all-time-high order backlog and strong market potential for the future. The report also includes a description of the revised sustainability strategy with raised targets, which was launched in March.

First quarter 2023

Net sales increased by 29% to SEK 1,065 million (824).
Adjusted for acquisitions and currency, the organic growth amounted to 23%.
Operating profit (EBITA) increased to SEK 88 million (41), corresponding to an operating margin of 8.3% (5.0). The margin was positively affected by received energy subsidy of SEK 6 million.
Excluding this item, the operating profit amounted to SEK 82 million, corresponding to an operating margin of 7.7%.
Profit after tax amounted to SEK 59 million (19), corresponding to SEK 1.49 (0.54) per share
before dilution and SEK 1.47 (0.53) after dilution.
Cash flow from operating activities amounted to SEK 89 million (13).

CEO Erik Stenfors comments

"HANZA is growing for solid reasons. Firstly, we have developed a diversified customer portfolio with successful customers in various growth industries. Secondly, the time is right for HANZA's business model with regional and complete manufacturing, which drives new sales."

"In terms of earnings, this is our strongest quarter to date. The operating margin, excluding energy subsidy, was 7.7% and the company's earnings per share reached an all-time high of SEK 1.49 for the quarter. This can be compared to SEK 3.35 for the fiscal year 2022."

"We continue to generate a strong cash flow, SEK 89 million for the first quarter, which means that we can continue to reduce debt. Our net debt to EBITDA ratio is now 1.6 times, compared with 2.7 times a year ago."

"In March we presented a revised sustainability strategy with new and raised targets, which are also described in this report. Sustainability has been a fundamental part of our strategy since we started HANZA and it drives success - for everyone."

This disclosure contains information that HANZA AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 03-05-2023 07:30 CET.

For further information please contact:
Erik Stenfors,
CEO,
Tel: +46-709 50 80 70,
e-mail: [email protected]

Lars Åkerblom,
CFO,
Tel: +46-707 94 98 78,
e-mail: [email protected]

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