Low profit in the quarter but positive outlooks

Third quarter

• Turnover MSEK 324.9 (355.5), down 9 percent compared to previous year
• Operating profit MSEK 3.7 (26.4), after financial support of MSEK 4.3 (0.0)
• Operating margin 1.1 percent (7.4)
• Net income MSEK 0.4 (17.0)
• Cash flow from operating activities MSEK 23.9 (133.7), of which MSEK 3.5 (0.0) from financial support
• Earnings per share SEK -0.21 kr (1.90)

First nine months

• Turnover MSEK 1,042.8 (1,240.2), down 16 percent compared to previous year
• Operating profit MSEK 31.1 (90.5), after financial support of MSEK 16.8 (0.0)
• Operating margin 3.0 percent (7.3)
• Net income MSEK 16.5 (61.6)
• Cash flow from operating activities MSEK 68.0 (77.5), of which MSEK 38.9 (0.0) from financial support
• Earnings per share SEK 1.59 kr (7.56)

Fredrik Zöögling, CEO and President of ProfilGruppen, comments:

”It has been a challenging third quarter with both deceleration and acceleration. The change in our customers buying patterns due to the pandemic caused big difficulties in planning the operations during the holidays and the following weeks. The change in buying patterns also meant an unfavourable shift of the product mix. In total this means that the profit we produce is lower than expected.

Currently we are  experiencing a higher activity from both new and existing customers and a return to more of a normal situation in the fourth quarter of the year.

In the turbulent market situation of this year we have, trough hard work, signed a number of new deals and together with a positive market development this gives us great opportunities and we expect heavily increased volumes next year.“