Summary of the period
“Synergies and business are easy when you have skilled colleagues.
Strong demand for our products, some production and delivery challenges due to Covid-19, many internal projects regarding launches, product development, training, new employees, and optimizations as well as mergers of warehousing, logistics and finance in the US and finally a new acquisition completes an intense quarter!
The first quarter’s net sales of 134 MSEK meant an increase of 255% compared with Q1 2020, while EBITDA profit increased by 243% to 35.8 MSEK, corresponding to a margin of 26.7%. Adjusted for acquisition costs, we reach an EBITDA margin of 27.4%. Q1 offered strong momentum in the industry despite continued pandemic impact worldwide.”
– Håkan Lagerberg, CEO, Malmö, April 29th 2021
First quarter – January 1st- March 31st 2021
- Net revenue amounted to 133 908 KSEK (37 726 KSEK), an increase of 255%.
- Organic, currency-adjusted growth amounted to 25% .
- Operating profit begore depreciation (EBITDA) amounted to 35 780 KSEK (10 430 KSEK), corresponding to a increase of 243% corresponding to an EBITDA-margin of 26,7% (27,6%).
- Operating profit after depreciation (EBIT) amounted to 35 189 KSEK (10 714 KSEK),
corresponding to a increase of 228% and an EBIT-margin of 26,2% (28,3%).
- Profit after tax amounted to 26 743 KSEK (8 441 KSEK).
- Earnings per share, based on 21 075 598 shares 1,27 SEK (0.53 SEK).
- As of March 31st 2021 cash amounted to 162 528 KSEK (44 092 KSEK).
- Costs in connection with the acquisition of Holden2 amounted to 911 KSEK. Adjusted for this, EBITDA amounted to 36 690 KSEK, corresponding to an EBITDA margin of 27,4% and EBIT to 36 099 KSEK corresponding to an EBIT margin of 26,9%.
Significant events during the first quarter:
- Canagans Dental dry food, which contains Swedencare’s ProDen PlaqueOff®, has been approved by VOHC.
- Swedencare AB (publ) has completed the acquisition of Holden2 and part of the purchase price is settled with a non-cash share issue.
- Swedencare AB (publ) presents new financial targets which are to achieve revenue of 2 MSEK in 2025 with an EBIT margin exceeding 30%.
- Swedencare AB (publ) acquires Rx Vitamins, an American company focusing on dietary supplements for the veterinary channel.