Alligo Interim Report 1 Jan–31 March 2023 – Profitable growth despite weaker market
First quarter highlights
- Revenue increased by 9.2 per cent to MSEK 2,287 (2,095). Organic growth was 3.6 per cent.
- Gross margin increased to 39.7 per cent (39.0).
- Adjusted EBITA increased by 21 per cent to MSEK 127 (105), corresponding to an adjusted EBITA margin of 5.6 per cent (5.0).
- Operating profit increased to MSEK 112 (80) and the operating margin amounted to 4.9 per cent (3.8).
- Operating profit was charged with items affecting comparability of MSEK 0 (-9).
- Profit from continuing operations amounted to MSEK 68 (56) and profit from discontinued operations to MSEK 0 (281). The impact on earnings of the distribution of Momentum Group was MSEK 0 (3,553) and total profit from the Group amounted to MSEK 68 (3,637).
- Earnings per share from continuing operations amounted to SEK 1.35 (1.10) and earnings per share from discontinued operations amounted to SEK 0.00 (0.55). The impact on earnings of the distribution of Momentum Group was SEK 0.00 (70.38) per share and earnings per share for the Group as a whole amounted to SEK 1.35 (72.03).
- Cash flow from operating activities increased to MSEK 146 (-30).
Alligo’s former subsidiary Momentum Group AB is reported as discontinued operations in accordance with IFRS 5. Comments and figures relate to continuing operations unless otherwise specified. Comparison figures in the consolidated income statement have been recalculated.
Comments from the CEO
“The business continued to show positive development during the first quarter, despite a tougher market situation. Sweden in particular suffered from weaker development.”
“We have enhanced our competitiveness for all customer groups, including in demanding tenders. Major well-known companies have signed new agreements with Alligo, where we have successfully positioned ourselves as the partner that is best able to meet stringent requirements and make their businesses work.”
“We have a clear focus on operational efficiency by targeting our sales work, streamlining operations and reducing tied-up capital.”
“Should the economic situation worsen in the future, we see great potential in focusing even more clearly on the strategic core of Alligo, while our strong financial position also enables us to continue to be aggressive on the market.”
Significant events during the first quarter
- Alligo completed the acquisitions of Profilföretaget Z-Profil AB, Kents Textiltryck i Halmstad AB and Olympus Profile i Uddevalla AB on 2 January.
Events after the end of the period
- On 3 April, Alligo acquired 100 per cent of the shares in Finnish company Kitakone Oy, which runs a store in Jyväskylä selling tools, fittings and chemicals to the construction and vehicle service and repair markets. Closing took place in conjunction with the acquisition.
- Alligo’s Annual General Meeting 2023 will be held on 24 May 2023 and notice of the meeting was published on 19 April 2023. A dividend of SEK 3.00 per share (1.75) is proposed. The Nomination Committee proposes the re-election of Göran Näsholm, Stefan Hedelius, Cecilia Marlow, Johan Sjö, Christina Åqvist and Pontus Boman. It is proposed that Göran Näsholm be re-elected Chair of the Board.
Presentation of the interim report for the first quarter 2023
Alligo publishes its interim report for the first quarter on Friday, 28 April 2023, at 08:00 a.m. CEST.
In conjunction with this, Alligo is pleased to issue this invitation to a webcast conference call in which
Group President & CEO 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: Friday, 28 April 2023 at 11:00 a.m. CEST
Web link: https://edge.media-server.com/mmc/p/hjv5akom
Telephone conference: https://register.vevent.com/register/BI994932a859a049c58394a8be8b07a392
To participate in the conference call, you need to register via the link above before the conference starts. When you register, you will receive a phone number and a personal code.
Clein Johansson Ullenvik, President & CEO, tel: +46 70 558 84 17, e-mail: firstname.lastname@example.org
Irene Wisenborn Bellander, CFO, tel: +46 72 452 60 40, e-mail: email@example.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 2023 at 08:00 CEST.
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 9.2 billion and approximately 2,400 employees. Alligo AB (publ) has been listed on Nasdaq Stockholm since June 2017. Read more at www.alligo.com.