Efficiency improvements to boost profitability
Projektengagemang grew in 2019 by just over 10 percent compared with 2018, with the increase attributable entirely to acquisitions. EBITA was SEK –16.1 million (70.8), owing mainly to extensive restructuring costs and lower capacity utilisation.
Fourth quarter, 1 October – 31 December 2019
- Net revenue increased to SEK 347.4 million (343.8)
- EBITA was SEK –23.5 million (19.3) and the EBITA margin decreased to –6.8 percent (5.6)
- EBITA adjusted for items affecting comparability amounted to SEK 1.7 million (19.3) and the EBITA margin was 0.5 percent (5.6)
- EBIT was SEK –26.3 million (25.4) and the operating margin decreased to –7.6 percent (7.4)
- Earnings for the period totalled SEK –33.6 million (22.1)
- Basic and diluted earnings per share for the period totalled SEK –1.35 (0.89)
- Efficiency improvements implemented, with an annual effect of SEK 55 million. The non-recurring cost of the programme was SEK 25 million
- The Board proposes that no dividend be paid for the year 2019 (SEK 1.0 per share)
Period, 1 January – 31 December 2019
- Net revenue increased to SEK 1,348.4 million (1,223.8)
- EBITA was SEK –16.1 million (70.8) and the EBITA margin decreased to –1.2 percent (5.8)
- EBITA adjusted for items affecting comparability amounted to SEK 9.2 million (80.4) and the EBITA margin was 0.7 percent (6.6)
- EBIT was SEK –24.7 million (74.2) and the operating margin decreased to –1.8 percent (6.1)
- Earnings for the period totalled SEK –40.2 million (57.1)
- Basic and diluted earnings per share for the period totalled SEK –1.62 (2.63)
- On 17 September PE announced that third-quarter EBITA was negatively affected by a low utilisation rate in August and the first half of September
- Total efficiency improvements with an annual effect of SEK 70 million
Significant events after the end of the period
- PE has renegotiated its existing credit agreement with SEB and reduced the unused credit facility for acquisitions
You will find the full report here.
Webcasted conference call:
At 09:00 on the report issue date, the Company will host a webcasted conference call, with CEO Per-Arne Gustavsson and CFO Peter Sandberg presenting the report. The presentation can be followed via webcast and telephone.
Link to the webcast: https://financialhearings.com/event/11829
Numbers to the conference call:
SE: +46 856 64 27 05
UK: +44 333 300 90 32
This is a translation of the Swedish original. The Swedish text is the binding version and shall prevail in the event of any discrepancies.
THIS INFORMATION IS INFORMATION THAT PROJEKTENGAGEMANG SWEDEN AB (PUBL) IS OBLIGED TO MAKE PUBLIC PURSUANT TO THE EU MARKET ABUSE REGULATION. THIS INFORMATION WAS SUBMITTED FOR PUBLICATION, THROUGH THE AGENCY OF THE CONTACT PERSON, AT 07:30 CET 21 FEBRUARY 2019.