Interim Report 1 January – 31 March 2022

Published 28 april 2022, 08:00


To refine the business and focus fully on Alligo, Momentum Group AB was distributed to Alligo’s shareholders in March.

 First quarter highlights

  • Revenue increased by 6.5 per cent to MSEK 2,095 (1,968).
  • EBITA increased by 28 per cent to MSEK 105 (82), corresponding to an EBITA margin of 5.0 per cent (4.2).
  • Operating profit amounted to MSEK 80 (67) and the operating margin was 3.8 per cent (3.4). Operating profit has been charged with items affecting comparability of MSEK -9 (0), which comprise costs ahead of the separate listing of Momentum Group (Components & Services busi­ness area) of MSEK 5 and severance costs in connection with a change of management in Finland of MSEK 4.
  • Profit from continuing operations amounted to MSEK 56 (45), profit from discontinued operations to MSEK 28 (32) and the impact on earnings of the distribution of Momentum Group was MSEK 3,553. Total profit from the Group amounted to MSEK 3,637 (77).
  • Earnings per share from continuing operations amounted to SEK 1.10 (0.90), earnings per share from discontinued operations to SEK 0.55 (0.65) and the impact on earnings of the distribution of Momentum Group was SEK 70.40 per share. Earnings per share for the Group as a whole amounted to SEK 72.05 (1.55).
  • Cash flow from operating activities amounted to MSEK -30 (173).

Discontinued operations
In the interim report for the first quarter, Alligo’s former subsidiary Momentum Group AB (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.

Comments from the CEO

 ”It has been a very busy first quarter, with major changes for our business. Momentum Group was distributed to the shareholders and our integration work continued at  a rapid pace.”

 

We are streamlining the business and creating better opportunities for range and sales management, which in turn improves the conditions for organic growth and ultimately also for future acquisitions.”

Significant events during the first quarter

  • An Extraordinary General Meeting on 23 March 2022 voted through a proposal from the Board of Directors to distribute all of the company’s shares in Momentum Group AB to the shareholders of Alligo AB. 
  • An Extraordinary General Meeting on 23 March 2022 voted through a proposal from the Nomination Committee that the Board of Directors of Alligo should comprise six ordinary Board members and to elect Göran Näsholm, Johan Eklund, Stefan Hedelius, Cecilia Marlow, Johan Sjö and Christina Åqvist for the period until the next Annual General Meeting. Göran Näsholm was elected Chair of the Board.
  • As part of the preparations for the separate listing of Momentum Group, Nordstjernan requested the conversion of 498,363 Class A shares to the corresponding number of Class B shares in Alligo. This resulted in a change to the number of shares and votes in Alligo in February.
  • Alligo acquired 100 per cent of the shares in Lunna AS, which has three stores north of Oslo, Norway, and sells industrial components, tools, workwear, and personal protective equipment.
  • Alligo acquired 100 per cent of the shares in Liukkosen Pultti Oy, which runs a workwear and tool store in Lahti, Finland.

Events after the end of the period

  • Alligo’s Annual General Meeting 2022 will be held on 11 May 2022 and notice of the meeting was published on 7 April 2021. A dividend of SEK 1.75 per share (1.50) is proposed. A long-term incentive programme is also proposed for senior executives. The Nomination Committee proposes the re-election of Göran Näsholm, Stefan Hedelius, CeciliaMarlow, Johan Sjö and Christina Åqvist and the election of Pontus Boman. Johan Eklund has declined re-election. It is proposed that Göran Näsholm be re-elected Chair of the Board.

Presentation of the Interim Report Q1 1 January – 31 March 2022

Alligo will publish its Interim Report for the first quarter on Thursday April 28, 2022, at 8:00 a.m. CET. In conjunction with this, Alligo is pleased to issue this invitation to a webcast conference call in which CEO & President Clein Johansson Ullenvik and CFO Irene Wisenborn Bellander will present the report and answer any subsequent questions. The presentation will be held in English.

Date and time: Thursday April 28, 2022, at 11:00 a.m. CET

Web link: https://tv.streamfabriken.com/alligo-q1-2022

Telephone conference: SE: +46 8 505 583 57 / UK: +44 33 330 092 69 / US: +1 64 672 249 02

 

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 28 April 2022 at 08:00 CET.

Alligo is a leading player within workwear, personal protective equipment, tools, and consumables in the Nordic region. The Group has annual revenue of approximately SEK 8.5 billion and approximately 2,300 employees. Alligo AB (publ) has been listed on Nasdaq Stockholm since June 2017. Read more at www.alligo.com.

Alligo AB (publ)

Box 631, 135 26 Tyresö · Vindkraftsvägen 2, 135 70 Tyresö · Telefon +46 (0) 8 – 727 27 20 · www.alligo.com

Alligo AB_Q12022_eng Download
Alligo AB Q1 2022 PR ENG FINAL Download
Read more