Significant improvement in earnings in third quarter
PE continued to deliver improved earnings in the third quarter compared with the previous year. EBITA for the quarter was SEK 2 million (–22), despite challenging market conditions. The improvement in earnings is consistent with our long-term strategic initiative launched in 2019 to improve the margins. Net revenue declined to SEK 220 million (269) in the quarter as a result of restructuring work and the impact of Covid-19.
Third quarter, 1 July–30 September 2020
- Net revenue totalled SEK 219.5 million (269.0)
- EBITA increased to SEK 2.3 million (–22.2) and the EBITA margin rose to 1.1 percent (–8.3)
- EBIT totalled SEK –2.5 million (–25.0) and the operating margin was –1.1 percent (–9.3)
- Earnings for the period amounted to SEK –3.1 million (–23.0)
- Earnings per share for the period were SEK –0.13 (–0.93) There is no dilution effect
- PE’s Board of Directors has appointed Helena Hed as the new President and CEO
1 January–30 September 2020
- Net revenue totalled SEK 880.6 million (1,001.0)
- EBITA increased to SEK 62.2 million (7.4) and the EBITA margin was 7.1 percent (0.7)
- EBIT increased to SEK 51.7 million (1.6) and the operating margin rose to 5.9 percent (0.2)
- Earnings for the period totalled SEK 31.0 million (–6.6)
- Earnings per share for the period were SEK 1.28 (–0.26) There is no dilution effect
Webcasted conference call:
At 09.00 CET there will be a webcasted conference call in which Per-Arne Gustavsson, CEO, and Peter Sandberg, CFO, will present the report. The presentation will be held in Swedish and it will be followed by a question and answer session.
Link to the webcast:
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 PERSONS, AT 07:30 CET 5 NOVEMBER 2020.