July – September 2015
January – September 2015
Bravida is continuing to deliver strong growth and improving earnings. We are also strengthening and improving our market position through both acquisitions and strategic contracts.
Net sales rose by 19 percent for both the third quarter and overall for the first nine months of the year. While acquisitions are a key part of our growth, organic growth amounted to 6 percent in the quarter and 7 percent for the first nine months of the year. This means we are growing faster than the market while we are still continuing to prioritise profitability over volume.
Adjusted operating profit increased by 15 percent in the quarter to SEK 195 million, resulting in an adjusted operating margin of 5.9 percent. The corresponding figures for the first nine months of the year were a 19 percent increase to SEK 571 million and an adjusted operating margin of 5.5 percent.
Existing operations continue to generate better margins as a result of our strategic improvement measures with a strong focus on costs. These involve a number of initiatives to boost profitability based largely on our productivity program. In Q4, we will also start rolling out our new initiatives within purchasing and service.
Our newly established Finnish division is performing well. Our first acquisition in Finland in the spring, was followed by a new acquisition, Halmesvaara to strengthen our position in the Helsinki region. The work in developing servicing contracts has paid off quickly through the signing of three significant agreements. Among these is a contract with the dairy group Valio. In Sweden, we made two small acquisitions, these aquisitions fit well with our strategy to both bolster our market positions locally as well as offering end-to-end services in more areas. We are focussing on maximising synergies from each acquisition.
Our order intake for the quarter remained strong, with an impressive 26 percent increase, and our order backlog is consequently at a record high. In Norway, our order backlog showed good growth and it is pleasing that we have been awarded the contract to supply all installations in the expansion of Tromsø University Hospital.
After the end of the third quarter we achieved a key milestone in Bravida’s history by floating Bravida shares on the Stockholm stock exchange. I am pleased to say that the interest in Bravida among both Swedish and international investors exceeded our expectations. Interest in investing in Bravida was particularly significant in all the Nordic countries in which we operate, reflecting the high profile of our brand in these markets. In addition, it is great that some 1,200 of our employees subscribed for shares at the time of our IPO. This is a testament to the strong commitment to developing the company that is part of Bravida’s corporate culture.
Mattias Johansson, Stockholm, November 2015
For further information, please contact:
Mattias Johansson, CEO and Group President of Bravida. Tel: +46 8 695 20 00
Nils-Johan Andersson, CFO of Bravida. Tel: +46 70 668 50 75
The information above has been published pursuant to the Swedish Securities Markets Act (Sw: Lag om värdepappersmarknaden) and the Swedish Financial Instruments Trading Act (Sw: Lagen om handel med finansiella instrument).
This information was released for publication at 07.30 CET on 26 November 2015.