FIRST QUARTER 2018
- Sales grew 14% to EUR 148.2 million. Adjusted organic growth was up 3% year on year, a strong result given that comparable growth in the first quarter of 2017 amounted to an impressive 19%. Acquisitions closed in 2017 and early January 2018 contributed EUR 17 million in sales, corresponding to growth of 13%. The stronger euro had a negative impact of 2%.
- Adjusted EBITA amounted to EUR 9.8 million (8.6), up 14%. The margin remained at 6.6%. All segments - Continental Europe, Nordics & UK and North America - showed a positive development. The result for Nordics & UK improved by 13% due to recent acquisitions.
- EBITA amounted to EUR 8.3 million (8.5). Items affecting comparability were recognized in a net amount of EUR 1.4 million (0.1) during the quarter.
- Cash flow from operating activities totalled negative EUR 5.0 million, compared with positive EUR 2.1 million last year. The liquidity buffer amounted to EUR 68.3 million (Dec 2017: 60.9)
- During the first quarter, Polygon acquired the assets and liabilities of Metodia AB in Sweden, purchased minority shares in four franchises in Norway with call options for 100% ownership and bought a minority share in Caption Data in order to strengthen the digital agenda. The acquisitions of Dansk Bygningskontrol A/S (Denmark) and Von Der Lieck GmbH & Co (Germany) were closed in early January.
- After the closing date, Polygon Sweden acquired the assets and liabilities of Caliber Sanering Sverige AB in order to enter the fire damage restoration (FDR) market.
For further information contact:
Mats Norberg, CFO at Polygon
Phone: +46 (0) 70 331 65 71
This information is information that Polygon AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 CET on 9th of May 2018.
Read the full report here