Strategic initiatives strengthen margin
PE continued to deliver strong earnings in the second quarter despite challenging market conditions. EBITA amounted to SEK 31 million (16) and the EBITA margin more than doubled to 9.7 percent (4.4). The improved profitability is attributable to our long-term strategic investment in 2019, which resulted in lower costs and greater efficiency. Net revenue declined to SEK 320 million (362) as a result of restructuring work and the effects of Covid-19.
Second quarter, 1 April–30 June 2020
- Net revenue totalled SEK 320.0 million (361.6)
- EBITA was SEK 30.9 million (16.1) and the EBITA margin increased to 9.7 percent (4.4)
- EBIT was SEK 28.1 million (13.2) and the operating margin rose to 8.8 percent (3.7)
- Earnings for the period totalled SEK 17.9 million (8.1)
- Earnings per share for the period totalled SEK 0.73 (0.33) There is no dilution effect
Half-year period, 1 January–30 June 2020
- Net revenue totalled SEK 661.0 million (732.0)
- EBITA was SEK 59.9 million (29.6) and the EBITA margin increased to 9.1 percent (4.0)
- EBIT was SEK 54.2 million (26.6) and the operating margin rose to 8.2 percent (3.6)
- Earnings for the period totalled SEK 34.1 million (16.3)
- Earnings per share for the period were SEK 1.40 (0.67) There is no dilution effect
Significant events after the end of the quarter
- PE’s Board of Directors has appointed Helena Hed as the new President and CEO. Helena will take up the position in January 2021
You will find the full report here.
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:
https://tv.streamfabriken.com/projektengagemang-q2-2020
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 CEST 17 JULY 2020.