BTS Group AB (publ) Year-end report 1 January

BTS Group AB (publ) Year-end report 1 January – 31 December 2021

P R E S S R E L E A S E

Stockholm, February 23, 2022

Revenue and earnings 18 percent higher than in 2019

Full year 2021

Net sales amounted to MSEK 1,917 (1,464). Adjusted for changes in foreign exchange rates, sales increased 38 percent.
Operating profit (EBITA) increased to MSEK 338 (90). Excluding the forgiven PPP loan EBITA increased to MSEK 288 (90).
The operating margin (EBITA margin) was 17.6 percent (6.2). Excluding the forgiven PPP loan MSEK 15.0 (6.2).
Profit after tax increased to MSEK 215 (35). Excluding the forgiven PPP loan profit increased to MSEK 165 (35).
Earnings per share increased to SEK 11.11 (1.82). Excluding the forgiven PPP loan earnings per share increased to SEK 8.54 (1.82).
Adjusted for changes in foreign exchange rates, net sales increased 13 percent compared with 2019. Virtual deliveries mean that there are no expenses charged to revenue. The actual growth of the operations was approximately 18 percent.
Compared with 2019, operating profit (EBITA) increased by 18 percent and profit before tax by 11 percent, excluding the forgiven PPP loan. Adjusted for changes in foreign exchange rates, EBITA grew 32 percent and profit before tax increased 26 percent.

Fourth quarter 2021

Net sales amounted to MSEK 571 (423). Adjusted for changes in foreign exchange rates, sales increased 33 percent.
Operating profit (EBITA) increased to MSEK 100 (45).
The operating margin (EBITA margin) was 17.5 percent (10.7).
Profit after tax increased to MSEK 59 (24).
Earnings per share increased to SEK 3.03 (1.22).
Adjusted for changes in foreign exchange rates, net sales increased 12 percent compared with 2019. The actual growth of the operations was approximately 17 percent.
Operating profit (EBITA) increased 13 percent and profit before tax increased 7 percent compared with 2019. Adjusted for changes in foreign exchange rates, EBITA grew 26 percent and profit before tax increased 21 percent.

In May 2020, the US BTS subsidiary received federal COVID-19 support under the “Paycheck Protection Program” (known as PPP loans). In accordance with the guidelines from the US authorities, this loan was written off during the third quarter of 2021, and had a positive impact of MSEK 49.7 on operating profit. For increased comparability, the outcome for 2021 is stated throughout this interim report both including and excluding the forgiven PPP loan.

Dividend

The Board proposes a dividend of SEK 4.80 per share to be paid on two occasions in the amount of SEK 2.40 per payment.

CEO Comment

"2021 will be another record-breaking year – our best ever. Our long-term strategy for managing the pandemic is working and we have taken our company to a new level. Our revenue increases 13 percent, adjusted for changes in foreign exchange rates, compared with 2019."

Outlook for 2022

The outlook for 2022 is favorable; we believe that earnings will be better than 2021.

For more information, please contact:

Michael Wallin

Head of investor relations BTS Group AB michael.wallin@bts.com +46-58 70 70 0 +46-708-78 80 19

This information is information that BTS Group AB 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 08:00 CET on February 23, 2022.

About BTS Group AB

BTS is a global professional services firm headquartered in Stockholm, Sweden, with some 1,000 professionals in 36 offices located on six continents. For over 30 years, we’ve been partnering with our clients to enable strategy execution. At BTS, we believe that success comes from people understanding how their daily work impacts business results, so we provide the skills, tools, and knowledge your people need to take the right action at the right moment.

We are experts in behavior change and care deeply about both delivering results for our clients and ensuring that their people do the best work of their lives. Our engagements range from embedded multi-year transformation projects to brief, targeted capability development.

It’s strategy made personal.

Our primary practice areas include Change and transformation, Leadership development and Sales and marketing. In support of offerings from our primary practice areas, we have centers of excellence in Assessments for talent selection and development, Business acumen and innovation skill-building and Coaching as a practical tool to shift mindsets and turn strategy into action.

We’ve partnered with over 1,200 organizations, including over 40 of the world’s 100 largest global corporations. Our major clients are some of the most respected names in business: Salesforce, SAP, Abbott, Tetra Pak, EY, Tencent, Vale, and BHP.

BTS is a public company listed on the Nasdaq Stockholm and trades under the symbol BTS B.

For more information, please visit www.bts.com.

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