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Sve Suo Eng
Sve Suo Eng

”A transformative quarter including IPO, platform acquisition and organic growth, despite tough market conditions” Petter Moldenius, CEO

Summary of the first quarter (January 1 – March 31, 2024)

  • Net sales for the first quarter increased by 15.4% to SEK 285.6 million (247.6), of which organic growth amounted to 1.9%.
  • EBITA amounted to SEK 20.0 million (27.9), a decrease of 28.4%.
  • The quarter was affected by SEK 7.2 million (0.0) in costs related to the IPO, as well as SEK 3.2 million (0.9) in acquisition costs. Adjusted for these, EBITA amounted to SEK 30.4 million (28.8), corresponding to an increase of 5.6%.
  • Operating profit (EBIT) amounted to SEK 17.0 million (27.2), a decrease of 37.6%.
  • Cash flow from operating activities for the quarter amounted to SEK 12.3 million (7.6).
  • Earnings per share for the quarter after dilution amounted to 0.05 (0.31).
  • In January, Karnell completed the acquisition of the Finnish company Sähkö-Jokinen. In connection with the acquisition, a directed share issue was made to the former owners of Sähkö-Jokinen, which added SEK 16.8 million to the group.
  • In January, an add-on acquisition was carried out when niched manufacturer Tekniseri acquired AB Svenska Maskinskyltfabriken.
  • On March 22, Karnell's share was listed on Nasdaq Stockholm.
  • In connection with the IPO, new shares were issued with issue proceeds of SEK 232.9 million.

Presentation of the report
Karnell presents the interim report for the first quarter 2024 via webcast and telephone conference today, May 14, at 8:30 am CET. The report is presented by CEO Petter Moldenius and CFO Lars Neret. The presentation will be held in English and includes a Q&A session.

If you wish to participate via webcast, please use the link below.
https://ir.financialhearings.com/karnell-q1-report-2024

If you wish to participate and ask questions via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference.
https://conference.financialhearings.com/teleconference/?id=5007122