Alligo Year-end Report 1 January–31 December 2021

Media

Alligo Year-end Report 1 January–31 December 2021

Regulatory

The formerly-named Momentum Group has changed its name to Alligo and is traded since 15 December 2021 under the new short name ALLIGO B.

Fourth quarter highlights

  • Revenue increased by 10 per cent to MSEK 2,458 (2,237).

  • EBITA increased by 54 per cent to MSEK 250 (162), corresponding to an EBITA margin of 10.2 per cent (7.2).

  • Operating profit amounted to MSEK 194 (147) and the operating margin was 7.9 per cent (6.6). Items affecting comparability had an impact on profit of MSEK -40 (0) and relate to losses on divestment of operations of MSEK 37 and costs in connection with preparations for the separate listing of the Components & Services business area.

  • Total profit for the quarter, including discontinued operations, amounted to MSEK 170 (134) and earnings per share to SEK 3.351 SEK (2.701). Excluding discontinued operations, profit for the quarter amounted to MSEK 139 (104) and earnings per share to SEK 2.751 SEK (2.101).

  • Cash flow from operating activities amounted to MSEK 512 (489).

Full year 2021 highlights

  • Revenue amounted to MSEK 8,475 (7,237), with the change from the previous year partly attributable to the acquisition of Swedol, which was closed in April 2020.

  • EBITA amounted to MSEK 645 (419), corresponding to an EBITA margin of 7.6 per cent (5.8). The change compared with the preceding year is partially attributable to the acquisition of Swedol.

  • Operating profit amounted to MSEK 427 (261) and the operating margin was 5.0 per cent (3.6). Items affecting comparability had an impact on profit of MSEK -155 (-1062), of which MSEK 108 pertains to restructuring costs relating to the Swedish logistics operations of Tools being relocated to Alligo’s central warehouses in Örebro. MSEK 37 relates to losses on divestment of operations and MSEK 10 relates to costs in connection with preparations for the separate listing of the Components & Services business area.

  • Total profit for the period, including discontinued operations, amounted to MSEK 430 (283) and earnings per share to SEK 8.501 SEK (6.501). Excluding discontinued operations, profit for the period amounted to MSEK 291 (165) and earnings per share to SEK 5.75¹ SEK (3.65¹).

  • Cash flow from operating activities amounted to MSEK 943 (1,191).

  • The Board of Directors proposes a dividend for 2021 of SEK 1.75 per share (1.50).

1) Before and after dilution.

2) Restructuring costs in connection with the integration of Tools and Swedol (mainly the write-down of right-of-use assets and costs for adapting the range).

Discontinued operations

In Alligo’s year-end report, the Components & Services Business Area is reported as discontinued operations in accordance with IFRS 5. The Alligo business area represents continuing operations. Comments and figures relate to continuing operations unless otherwise specified. Comparison figures in the consolidated income statement have been recalculated.

Change of financial year 

As a result of the Group changing its financial year to the calendar year, the 2020 financial year was shortened to 9 months (1 April to 31 December 2020). To enable a 12-month comparison, the period 1 January to 31 March 2020 has been added to the financial year 1 April to 31 December 2020 to provide comparison figures in all tables.

Comments from the CEO

“Winter came early, bringing with it unusually cold weather and strong seasonal demand. As a result, the
increase in sales that we normally see in January began early, during the latter part of the fourth quarter.”

“Increased sales of high-margin products as a result of the cold winter weather boosted profits.”

“We have come a long way in a short time, and I feel sure we are on the right path.”

Significant events during the fourth quarter

  • As part of the preparations for the separate listing of the Components & Services business area, the Board of Directors appointed the former business area manager of Alligo, Clein Ullenvik, as President & CEO and the former CFO of the Alligo business area, Irene Wisenborn Bellander, as CFO. The new management took office on 1 November. The Board of Directors also proposed a change of company name from Momentum Group AB to Alligo AB, which was approved at an Extraordinary General Meeting on 2 December.

  • Alligo acquired all the shares in Norwegian workwear specialist RAF Romerike Arbeidstøy AS and divested all shares in Gigant AB in order to streamline operations.

  • The Board of Directors decided to relocate the Swedish logistics operations of Tools from Alingsås to Alligo’s central warehouses in Örebro.

Events after the end of the period

  • Alligo acquired all the shares in Liukkosen Pultti Oy which runs a workwear and tool shop in Lahti, Finland.

  • Nordstjernan requested the conversion of Class A shares to Class B shares in Alligo as part of the preparations for the separate listing of Momentum Group.

Presentation of the year-end report 2021

Alligo will publish its year-end report 2021 on Tuesday, 15 February 2022 at 08:00 a.m. CET. In conjunction with this, Alligo are pleased to issue this invitation to a webcast conference call in which President & CEO Clein Johansson Ullenvik and CFO Irene Wisenborn Bellander together with Business Area Manager Ulf Lilius will present the report and answer any subsequent questions.

Time: Tuesday, 15 February 2022 at 11:00 a.m. CET.
Web link:https://tv.streamfabriken.com/alligo-q4-2021
Telephone no: SE: +46 8 505 583 73 / UK: +44 33 330 092 61 / US: +1 64 672 249 03

Contact information

Clein Johansson Ullenvik, President & CEO, tel: +46 70 558 84 17, e-mail: clein.ullenvik@alligo.com
Irene Wisenborn Bellander, CFO, tel: +46 72 452 60 40, e-mail: irene.bellander@alligo.com

This information is information that Alligo AB (publ) is obliged to publish under the EU Market Abuse Regulation. The information was submitted for publication through the agency of the Chief Executive Officer on 15 February 2022 at 08:00 CET.

Alligo is a leading reseller of industrial consumables and components, service and maintenance to professional end users in the industrial and construction sectors in the Nordic region. The Group has annual revenue of approximately SEK 9,5 billion and approximately 2,700 employees. Alligo AB (publ) has been listed on Nasdaq Stockholm since June 2017. Read more at www.alligo.com.

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