Summary of the period

“Record acquisition and strong momentum for Swedencare…

Yet another intense quarter is behind us, and we start seeing what I have been predicting in recent reports – that the new Swedencare is a company that continually will be able to deliver higher growth than the general market. This is made possible due to our competent staff and above all our fearless and somewhat unconventional approach to our work. We are curious, flexible, customer- and solution oriented and we are breaking new ground in many areas where we see exciting opportunities. Once again, I am impressed by our organization ́s capacity to execute several major projects in a short period of time. Time after time we prove that our working capacity is high and that we can handle large as well as small projects without letting any business opportunities pass us by. I can ́t see that there are any organizations that can match us today when it comes to competence, flexibility, speed, and the will to make sure that all customers are satisfied with the services and products that we offer the market.”

– Håkan Lagerberg, CEO, Malmö July 29th 2021

Second quarter: April 1st – June 30th, 2021

Numbers in parentheses refers to outcomes during the corresponding period of the previous year.

  • Net revenue amounted to 160 221 KSEK (32 015 KSEK), an increase of 400%.
  • Organic, currency-adjusted growth amounted to 45%.
  • Operating profit before depreciation (EBITDA) amounted to 47 206 KSEK (7 424 KSEK), corresponding to a increase of 536% and an EBITDA-margin of 29.5% (23.1%).
  • Operating profit after depreciation (EBIT) amounted to 44 031 KSEK (5 671 KSEK), corresponding to an increase of 676% and an EBIT-margin of 27.5% (17.7%).
  • Profit after tax amounted to 32 593 KSEK (5 145 KSEK).
  • Earnings per share calculated on 106 031 450 shares 0.31 SEK (0.06 SEK)*.
  • As of June 30th, 2021, cash amounted to 1 261 006 KSEK (175 795 KSEK).
  • Costs in connection with the acquisition of Rx Vitamins amounted to 982 KSEK. Adjusted for this, EBITDA amounted to 48 188 KSEK, corresponding to an EBIT-margin of 30.1% and EBIT to 45 013 KSEK corresponding to an EBIT-margin of 28.1%.

First 6 months: January 1st – June 30th, 2021

  • Net revenue amounted to 294 129 KSEK (69 740 KSEK), an increase of 322%.
  • Organic, currency-adjusted growth amounted to 34%.
  • Operating profit before depreciation (EBITDA) amounted to 82 986 KSEK (17 853 KSEK), corresponding to an increase of 365% and an EBITDA-margin of 28.2% (25.5%).
  • Operating profit after depreciation (EBIT) amounted to 79 219 KSEK (16 385 KSEK), and an EBIT-margin of 26.9% (23.4%).
  • Costs in connection with the acquisitions amounted to 1 900 KSEK. Adjusted for this, EBITDA amounted to 84 886 KSEK, corresponding to an EBITDA-margin of 28.8% and EBIT to 81 119 KSEK corresponding to an EBIT-margin of 27.6%
  • Profit after tax amounted to 59 336 KSEK (13 586 KSEK).
  • Earnings per share calculated on 105 706 525 shares 0.56 SEK (0.17 SEK)*.
  • Cash flow from operating activities amounted to 56 681 KSEK (13 761 KSEK).
  • Foreign exchange gains amounted to 840 KSEK.

    *Converted to the number of shares after the share split 5:1

Significant events during the second quarter

  • The Annual General Meeting resolved to divide the company’s existing shares, whereby an existing share is divided into 5 shares of the same share class (share split 5:1). The date for the division was May 25th, 2021.
  • Swedencare acquires Vetio, leading North American CDMO group within Pet Health Care.
  • Swedencare carries out a directed new share issue of 11 954 200 shares and is thus provided with approximately 1 150 MSEK, which after issue costs of 1 675 KSEK gave a net contribution of 1 148 MSEK, to finance the American business acquisition.

    Significant events after the second quarter

  • Swedencare has completed the acquisition of Vetio, and part of the purchase price is settled with a non-cash share issue. Swedencare proforma revenue, including Vetio and the other acquisitions, for the trailing 12 months including June 2021 is 919 MSEK with an EBITDA of 241 MSEK
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