Hexatronic Group AB (publ) Interim report January – September 2021
November 02 2021 - 2:00AM
Hexatronic Group AB (publ) Interim report January – September 2021
Key ratio |
|
|
|
|
|
2021 |
2020 |
|
|
2021 |
2020 |
|
MSEK |
Q3 |
Q3 |
Δ % |
|
Jan-Sept |
Jan-Sept |
Δ % |
Net sales |
905.2 |
534.3 |
69% |
|
2,322.1 |
1,481.0 |
57% |
EBITA |
105.5 |
63.2 |
67% |
|
271.0 |
139.0 |
95% |
EBITA margin |
11.7% |
11.8% |
|
|
11.7% |
9.4% |
|
Operating result
(EBIT) |
95.5 |
56.5 |
69% |
|
246.4 |
118.4 |
108% |
Net earnings |
72,0 |
39.1 |
84% |
|
179,1 |
81.1 |
121% |
Earnings per share
after dilution, SEK |
1.86 |
1.04 |
79% |
|
4,67 |
2.17 |
115% |
Cash flow from
operating activities |
24.7 |
42.4 |
-42% |
|
18.8 |
110.4 |
-83% |
Liquid assets |
227.1 |
73.0 |
211% |
|
227.1 |
73.0 |
211% |
Events during the quarter
- Hexatronic has signed an agreement
to acquire all the telecom activities of REHAU Group – one of the
main players in the German microduct market.
- Hexatronic has acquired two
Australian companies. Optical Solutions Australia Group, a national
value-added distributor of telecom solutions and The Fiber Optic
Shop that designs and manufactures fiber optic products.
- Hexatronic has acquired Weterings in
the Netherlands. Weterings produces ducts for the telecommunication
and agriculture market.
- Hexatronic has signed an agreement
to acquire Data Center Systems who provides fiber connectivity
solutions to the US data center market.
- Hexatronic has signed a strategic
supplier agreement with Ting Internet in the US, with a projected
value of over MUSD 50.
- Pernilla Lindén took office as CFO and
member of the Group Management Team at Hexatronic Group as of
August 9, 2021.
Events since the end of the period
- Hexatronic has signed two contracts
with existing customers on the German market amounting to a total
order value of MEUR 21.
COMMENTS FROM THE CEOContinued strong
organic growth and several acquisitions
The positive development of the first six months
of the year gathered momentum during the third quarter, with growth
of 69 percent, of which 35 percent was organic. In addition, 85
percent of total sales was from markets other than Sweden, which
proves that our international strategy has worked well.
Profitability for the quarter continued on a
positive trend. EBITA margin amounted to 11,7 percent, equating to
an increase of 67 percent. Adjusted for a revaluation of MSEK 11 in
outstanding share-based incentive programs, EBITA margin totaled
12,9 percent, corresponding to an increase of 84 percent.
We continue to see high costs for transport and
raw materials, which burdens the gross margin for the third quarter
and will probably also negatively impact the fourth quarter. In
terms of profitability, the increased costs are compensated for by
good scalability in our factories.
For the current rolling 12-month period, with 50
percent sales growth and 11,5 percent EBITA margin, we are
exceeding our goals of 20% growth and an EBITA margin of at least
10%.
Sales in our largest market, North America, grew
by 84 percent during the quarter, primarily driven by a strong
underlying infrastructure market for duct. Our system sales for
FTTH (Fiber to the home) also developed strongly.
Sales in Europe excluding Sweden showed a
continued high growth rate of 138 percent. Particularly the Great
Britain, Germany and Norway developed very well.
In Germany, since the end of the quarter we have
had a breakthrough with our first two FTTH system orders, totaling
MEUR 21.
Order intake have continued to develop strongly.
We entered the fourth quarter with an order book that was 229
percent higher organically than at the same time last year,
primarily driven by a good order intake in the USA. The contract
with Ting, that was signed during the quarter, has already resulted
in some large orders.
There has been high activity in acquisitions
during the quarter with Weterings in the Netherlands, and Optical
Solutions Australia Group and The Fiber Optic Shop in Australia. We
also signed an agreement to acquire REHAU’s telecom business in
microducts, as well as the data center company Data Center Systems
in the USA. The acquisitions strengthen our geographical presence
as well as it supplements our existing business, which overall
makes us stronger.
With the strong order book and a continued
positive view of the market’s development, we will continue to
invest in more production capacity.
Welcome to join us on our growth journey.
Henrik Larsson LyonPresident and CEO Hexatronic Group
AB (publ)
PublicationThis information comprises
disclosures that Hexatronic Group AB (publ) must publish according
to the EU Market Abuse Regulation and the Swedish Securities Market
Act. The information was submitted for publication, under
responsibility of the contact persons named below, on 2 November
2021 at 07:00 CET.
This is HexatronicHexatronic Group AB (publ) is
a group that develops, markets and delivers products, components
and system solutions with the main focus on the fiber optic market.
Hexatronic offers a wide range of innovative system and product
solutions mainly for passive fiber optic infrastructure with global
trademarks like Ribbonet®, Micronet™, Drytech™, Lightmate®,
FibreHub™, Matrix, Viper, Stringray, Raptor, InOne and Wistom®. The
Group has its headquarters in Gothenburg, Sweden and has sales
offices and/or subsidiaries in Sweden, Norway, Denmark, Finland,
United Kingdom, Germany, the Netherlands, Italy, Estonia, Latvia,
Lithuania, China, New Zealand, Australia, the US and Canada. The
Group is listed on Nasdaq Stockholm under the ticker HTRO. For more
information, visit www.hexatronicgroup.com.
Hexatronic Group AB
(publ) Org nr
556168-6360
Hexatronic Group AB (publ)Sofierogatan 3a, 412 51 Göteborg,
Sverigewww.hexatronicgroup.com
- Hexatronic Group - Interim report Q3 2021
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