Continued weak demand for a couple of platforms
We can look back on a first quarter in which the results came in slightly below our own expectations. Net sales for the quarter decreased by 8 percent, while EBITA fell to SEK 90 (159) million. Salix Group and S:t Eriks continue to be affected by a weak construction industry and Communication by the slower rollout of the 5G network. We do not expect the construction industry or the pace of the 5G network rollout to change in the near future. However, completed acquisitions and implemented cost programmes will have a positive impact in the coming quarters.
Structurally, Volati is in very good shape and when market conditions improve, our platforms will be well positioned to gradually reverse the decline in earnings in recent years. We also continue to see significant opportunities for value-creating add-on acquisitions. Overall, this means that we are confident in our long-term financial targets.
Andreas Stenbäck, President and CEO
For the full CEO-comment, see the report in its entirety.
Quarter Jan-Mar 2024
- Net sales declined by 8 percent to SEK 1,747 (1,890) million
- EBITA declined by 43 percent to SEK 90 (159) million
- Profit after tax declined by 74 percent to SEK 19 (74) million
- Earnings per ordinary share amounted to SEK 0.02 (0.69)
- The acquisition of the machinery supplier Trejon Försäljnings AB - an add-on acquisition for Salix Group - was completed on 25 January
- On 29 February, an agreement was signed to acquire the interior fittings company Beslag Design for the Salix Group platform
Events after the reporting period
- No significant events have taken place after the end of the reporting period
Conference call
CEO Andreas Stenbäck and CFO Martin Aronsson will present the interim report in a conference call on 24 April at 9.00 a.m. The presentation will be conducted in English.
For a webcast of the conference call (opportunity for written questions), go to: https://www.finwire.tv/webcast/volati/q1-2024/
The conference call (opportunity for oral questions) can be accessed at:
Phone number +46 8 5016 3827, Meeting ID 868 2518 0711, followed by #, *9 to ask a question.
The presentation and webcast will be available on www.volati.se after the conference call.
For further information, please contact:
Andreas Stenbäck, CEO Volati AB, +46 70-889 09 60, andreas.stenback@volati.se
Martin Aronsson, CFO Volati AB, +46 70-741 20 12, martin.aronsson@volati.se
This information is information that Volati 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 persons set out above, at 2024-04-24 07:45 CEST.
Volati AB (publ)
Engelbrektsplan 1, SE-114 34 Stockholm
Tel: +46 8 21 68 40
Email: info@volati.se
Corp. reg. no.: 556555-4317
About Volati
Volati is a Swedish industrial group with the vision to be Sweden's best owner of medium-sized companies. Through value-creating add-on acquisitions and long-term, sustainable company development, Volati has been delivering consistently strong profitable growth since the start in 2003. The Group consists of the business areas Salix Group, Ettiketto Group and Industry, with operations in 22 countries, about 2,100 employees and annual sales of approximately SEK 7.7 billion. Volati's ordinary shares and preference shares are listed on Nasdaq Stockholm. Further information is available at www.volati.se.
