Interim report on Q3 2023 – Measures to improve efficiency and profitability
The trend we have seen previously, with several customers awaiting developments, has continued in the third quarter. Residential construction has declined significantly and there is a clear slowdown in office buildings and public properties. At the same time, there is a significant need in areas such as energy, logistics, defence, industry, and urban development relating to the expansion of infrastructure and the green transition. Several measures have been taken to increase efficiency and improve profitability.
Third quarter, 1 July–30 September 2023
- Net revenue totalled SEK 170.4 million (181.1)
- EBITA totalled SEK –20.5 million (–5.3) and the EBITA margin was –12.0 percent (–2.9)
- A cost of SEK 15.6 million was booked during the quarter, linked to the vacating of offices
- EBIT was SEK –22.5 million (–7.3) and the operating margin was –13.2 percent (–4.0)
- Earnings for the period totalled SEK –20.2 million (–7.8)
- Earnings per share for the period amounted to SEK –0.84 (–0.32); there is no dilution effect
- The underlying EBITA and EBITA margin, i.e. excluding costs related to the vacating of offices, amounted to SEK –4.9 million and –2.9 percent respectively
1 January–30 September 2023
- Net revenue totalled SEK 651.2 million (676.8)
- EBITA was SEK –1.4 million (29.5) and the EBITA margin was –0.2 percent (4.4)
- A settlement agreement regarding a dispute relating to Soleed Sweden AB (wound up in 2016) affected revenue and EBITA for the period by SEK –5.2 million
- A cost of SEK 15.6 million was booked during the period, linked to the vacating of offices.
- EBIT was SEK –7.2 million (23.7) and the operating margin was –1.1 percent (3.5)
- Earnings for the period totalled SEK –13.1 million (13.0)
- Earnings per share for the period amounted to SEK –0.54 (0.54); there is no dilution effect
- The underlying EBITA and EBITA margin, i.e. costs related to the vacating of offices and a settlement agreement regarding a dispute, amounted to SEK 19.4 million and 3.0 percent respectively
At 09.00 CET a conference call will be held in which Helena Hed, President and CEO, and Liselotte Haglind CFO, will present the report. The presentation will be held in Swedish and will be followed by a question and answer session.
Link to the webcast:
For further information please contact:
Helena Hed, President and CEO
Phone: +46 10‐516 00 00
Liselotte Haglind, CFO
Mobile: +46 10-516 05 87
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 PERSONS, AT 07:30 CET 26 OCTOBER 2023.
This is a translation of the Swedish original. The Swedish text is the binding version and shall prevail in the event of any discrepancies.