Polygon AB (publ) - Interim report 1 January - 31 December 2017
FOURTH QUARTER 2017
- Sales grew by 3.6% to EUR 141.2 million. Adjusted organic growth was slightly below last year at 2.0%. Recurring jobs coming from an increased share of wallet have, to a large extent, compensated for last year’s extraordinary high level of jobs caused by extreme weather. Acquisitions in Norway and Sweden (Skadegruppen, Polygon Nord and Villaklimat) have contributed by EUR 9.1 million in sales.
- Adjusted EBITA amounted to EUR 9.8 million (10.2). Adjusted EBITA in the Nordics & UK was at a similar level as last year after measures carried out to turn around the negative development in earlier quarters.
- EBITA was EUR 8.2 million (9.1). Items affecting comparability were booked in a net amount of EUR 1.6 million (1.1) in the quarter, and consisted mainly of items related to acquisitions (transaction, restructuring costs and negative goodwill).
- The acquisitions of Bretagne Assèchement, Bretagne Assèchement Nord and Normandie Assistance, with total annual sales of EUR 5 million, were closed at the end of the quarter. The acquisitions of Dansk Bygningskontrol A/S (Denmark) and Von Der Lieck GmbH & Co (Germany) were closed in January 2018.
JANUARY - DECEMBER 2017
- Sales growth for the period was 6.9% and amounted to EUR 518.8 million. Continental Europe was the driver, with growth of 8.9% and amounted to EUR 27.8 million. Adjusted organic growth was 5.7%. The industry claims level was below last year’s level.
- Adjusted EBITA amounted to EUR 33.5 million (32.1), an increase of 4.4%. Development in Continental Europe and North America was strong while the Nordic area was weak in the first nine months of the year. The adjusted EBITA margin was 6.5% (6.6%).
- EBITA was EUR 30.6 million (30.3). Items affecting comparability were booked in an amount of EUR 2.9 million (1.8).
- Cash flow from operating activities was EUR 40.7 million (33.2). The liquidity buffer amounted to EUR 60.9 million (46.4).
- Four add-on acquisitions were closed and consolidated during the period (Sweden, Norway and France). Two acquisitions were closed in January 2018 (Dansk Bygningskontrol and Von Der Lieck). Combined pro forma sales for the six acquisitions amounted to approximately EUR 65 million.
- The Board of Directors was further strengthened with the appointment of Nadia Meier-Kirner in February and with Gunilla Andersson in December. Group management was extended to support M&A and process improvement.
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For further information please contact:
Mats Norberg, CFO at Polygon Mail: firstname.lastname@example.org 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 15.00 CET on 29th of January 2018.