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Lagercrantz Interim Report Q1 2023/24

2023-07-19 07:40
Regulatory

FIRST QUARTER (1 APRIL – 30 JUNE 2023)
•    Net revenue increased by 28% to MSEK 2,045 (1,597), where the organic growth amounted to 6%. 
•    Operating profit (EBITA) increased by 35% to MSEK 357 (265), equivalent to an EBITA margin of 17.5% (16.6). 
•    Profit after financial items (EBT) increased by 19% to MSEK 277 (232).
•    Cash flow from operating activities amounted to MSEK 286 (2).
•    Profit after taxes increased by 17% to MSEK 209 (179).Earnings per share after dilution for the latest 12-month period amounted to SEK 3.83 (3.70 for the financial year 2022/23).
•    Return on equity for the latest 12-month period amounted to 28% (28) and the equity ratio at the end of the period was 38% (34).
•    During the first quarter, three acquisitions were carried out with total annual revenue of approximately MSEK 280.
•    The Annual General Meeting will be held on 29 August 2023 at 4.00 p.m. at IVA’s Conference Centre in Stockholm. The Board of Directors proposes a dividend of SEK 1.60 (1.30) per share.

CEO COMMENT

“A strong start to the year and we reached our billion target”

Lagercrantz’s first quarter (April – June) 2023 represented a strong start to the 2023/24 financial year. The market situation remained at a good level for most of the businesses. With good contributions from the acquisitions and strengthened margins, we delivered the highest quarterly result ever with operating profit (EBITA) increasing by 35% to MSEK 357 (265) and the EBITA margin increasing to a record high of 17.5% (16.6).

The success means that we now reach our target of SEK 1 billion in profit after net financial items on a rolling 12-month basis. The target was launched in April 2021, to double the result to one billion within 5 years, something that has now been fulfilled at the level of SEK 1,012 million, almost 3 years earlier than planned.

For more CEO comment, please see the Interim Report.

Stockholm, 19 July 2023

Lagercrantz Group AB (publ)


A phone conference will be held 19 July at 10 am CET, in English.
Phone: +46 8 619 7530 or +44 20 707 532 17 (UK).
PIN: 332347#
Link to presentation:
https://www.lagercrantz.com/en/reports-and-presentations  

This information is information that Lagercrantz Group AB (publ) is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on 19 July 2023 at 07.40 CET.

For additional information, contact:
Jörgen Wigh, President and CEO, Lagercrantz Group AB, phone +46 8 700 66 70,
Peter Thysell, CFO, Lagercrantz Group AB, phone +46 70 661 05 59,
or visit our website www.lagercrantz.com

LAGERCRANTZ GROUP IN BRIEF
Lagercrantz Group is a Tech Group that offers world-leading, value-creating technology, using either proprietary products or products from leading suppliers. The Group consists of about 70 companies, each with a focus on a specific sub-market – a niche.  High value-creation is common to all the companies, including a high degree of customisation, support, service and other services.  Lagercrantz Group is active in nine countries in Northern Europe as well as in China, India and in the USA. The Group has approximately 2,600 employees and annual revenues of more than MSEK 7,700. The Company is listed on Nasdaq Stockholm since 2001. www.lagercrantz.com

Attachments
Interim Report Q1 2023/24

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