Assemblin Q2 2022 Interim Report

High growth, both organic and acquired, drove improved earnings.

Regulatory press release

“We are continuing to experience a strong market, particularly in segments including healthcare facilities and energy efficiency projects, although we did note some signs of increased uncertainty during the quarter, especially within new residential construction.”
Mats Johansson, President and CEO, Assemblin

Second quarter (April–June) 2022

  • Net sales for the quarter increased by 32.4 per cent to SEK 3,496 million (2,640), of which 13.8 percentage points were organic growth, 17.8 were acquisition-driven and 0.8 were currency-driven.
  • EBITA increased to SEK 261 million (160), and the EBITA margin strengthened to 7.5 per cent (6.1).
  • The adjusted EBITA increased to SEK 247 million (182), and the adjusted EBITA margin increased to 7.1 per cent (6.9). Items affecting comparability were a positive SEK 13 million (-21).
  • EBIT strengthened to SEK 240 million (143).
  • Profit for the quarter increased to SEK 116 million (65).
  • Order intake increased to SEK 3,413 million (2,795).
  • Eight acquisitions, with 153 employees and estimated total annual sales of about SEK 260 million, were completed.

First half-year (period January-June) 2022

  • Net sales for the period increased by 29.5 per cent to SEK 6,582 million (5,082), of which 12.7 percentage points were organic growth, 15.7 were acquisition-driven and 1.1 were currency-driven.
  • EBITA increased to SEK 419 million (256), and the EBITA margin strengthened to 6.4 per cent (5.0).
  • The adjusted EBITA increased to SEK 423 million (312), and the adjusted EBITA margin increased to 6.4 per cent (6.1). Items affecting comparability were SEK -4 million (-56).
  • EBIT increased to SEK 377 million (225).
  • Profit for the period increased to SEK 160 million (79).
  • Order intake increased to SEK 6,957 million (5,320).
  • The order backlog at the end of the period increased to SEK 9,920 million (8,668).

The full report (and previous reports) is published on the company’s website at www.assemblin.com under the “Investor” tab.

Invitation to an investor presentation

On 14 July, at 15:00 CET, the company’s President and CFO will present developments in the quarter in a webcast.
To participate in the webcast, please register in advance using the following link:
https://onlinexperiences.com/Launch/QReg/ShowUUID=7856B53B-E6B8-4AF6-923B-AFE5135C29AF

To listen to the presentation by telephone, dial +46 856642651 (Sweden), +44 3333000804 (UK) or any other
international dial in numbers at
https://events-ftp.arkadin.com/ev/docs/NE_W2_TF_Events_International_Access_List.pdf   
and use the PIN code 14620194# (all participants). 

The presentation material, and a recording of the webcast, will be published on the company’s website
www.assemblin.com  under the “Investors” tab after the meeting.

Future reporting dates

Q3 Interim Report January–September 2022 3 November 2022
Year-End Report January–December 2022 23 February 2023
Q1 Interim Report January–March 2023 5 May 2023
Q2 Interim Report January–June 2023 14 July 2023

Additional disclosure for bond holders
Additional disclosure for holders of Assemblin Senior Secured Notes issued on December 6, 2019, is published on Assemblin´s webpage under the “Investor” tab.

For more information
For questions concerning this report, please contact CFO Philip Carlsson (tel: +46 10 475 39 50).
For questions concerning operations in general, contact President and CEO Mats Johansson (tel: +46 10 475 39 60) or Head of Communications and Sustainability Åsvor Brynnel (tel: +46 10 475 39 48).

More information is also to be found at www.assemblin.com

About Assemblin

Assemblin is an end-to-end installation and service partner with operations in Sweden, Norway and Finland. We design, install and maintain technical systems for air, water and energy. Our vision is to create smart and sustainable installations that make buildings work and people feel comfortable. We do this through close local collaboration supported by a strong organisation. We have annual sales of approximately SEK 12.2 billion and 6,500 dedicated employees at more than 100 locations in the Nordic region. Read more at assemblin.com.