Year-end Report 2023: Solid growth and earnings trend

• Net sales increased by 27.0 percent to SEK 766.1 million (603.0), of which organic growth was -1.9 percent.
• EBITA increased by 40.8 percent to SEK 85.5 million (60.7) and the EBITA margin increased to 11.2 percent (10.1).
• EBIT increased by 41.1 percent to SEK 71.8 million (50.9).
• Cash flow from operating activities amounted to SEK 38.9 (65.7) million.
• Nørgaard Anlæg Holding ApS and its subsidiaries, a Danish group within ground and construction works, with combined annual sales for 2023 of SEK 182.5 million, were acquired and consolidated.

Period (January–December 2023)

• Net sales increased by 52.7 percent to SEK 2,708.2 million (1,773.4), of which organic growth amounted to 1.8 percent.
• EBITA increased by 77.3 percent to SEK 272.3 million (153.6) and the EBITA margin strengthened to 10.1 percent (8.7).
• EBIT increased by 78.4 percent to SEK 218.6 million (122.5).
• Cash flow from operating activities amounted to SEK 108.3 million (52.3).
• Helsingborgs Byggplåt AB, Stantraek A/S, Dundertech AB, and Nørgaard Anlæg Holding ApS with combined annual sales for 2023 of SEK 484.3 million were acquired and consolidated.
• At an EGM on September 21, it was resolved to amend the Articles of Association and to split shares, to authorize the Board of Directors to resolve new issues of shares and direct issues of shares.
• Terms and conditions for senior secured bond loan 2021/2024, states that no dividend may be paid during the term of the loan if the company’s shares are unlisted.

No significant events have occurred after the balance sheet date

Per-Johan Dahlgren, President & CEO, comments on the full-year 2023:
Novedo is reporting solid growth and earnings trend for 2023. We are approaching SEK 3 billion in sales and pro forma EBITA at year-end amounted to SEK 312 million. I assess that the market situation for 2024 is largely the same as this year’s and that Novedo is well-equipped for continued solid and positive development.