Interim report 1 January – 30 September 2023

Continued strong organic growth in both business areas

		"AddLife's growth plan is working well and, after a period of COVID-19 and acquisition-driven growth, we are now seeing robust organic growth. Profitability has improved and we have implemented a number of measures that are expected to support a positive profitability trend moving forward. The activities to improve cash flow have been successful and we are excited that we have completed an add-on acquisition in the quarter."
		Fredrik Dalborg, President and CEO

1 JULY – 30 SEPTEMBER 2023 (3 MONTHS)

• Net sales increased by 10% to SEK 2,319 m (2,100). The COVID-19 related sales decreased to 0 m (151) and the organic growth, excluding COVID-19 related sales and exchange rate changes, was 10%. 
• EBITA decreased to SEK 244 m (288), corresponding to an EBITA-margin of 10.5% (13.7). Adjusted for reversed contingent considerations, EBITA increased by 12% and amounted to SEK 227 m (203), corresponding to an EBITA margin of 9.8% (9.7).
• Financial income and costs amounted to -71 m (-41)
• Profit after tax amounted to SEK 26 m (120). 
• Earnings per share amounted to SEK 0.20 (0.99). 
• Cash flow from operating activities amounted to SEK 138 m (20).
• During the quarter an acquisition, Emmat Medical Ltd, was completed. 
  The acquisition is estimated to contribute an annual net turnover of approximately SEK 28 m.
  
  

1 JANUARY – 30 SEPTEMBER 2023 (9 MONTHS)

• Net sales increased by 6% to SEK 7,141 m (6,758), whereof the acquired growth amounted to 1%. The COVID-19 related sales decreased to 0 m (696) and the organic growth excluding, COVID-19 related sales and exchange rate changes, was 10%.
• EBITA decreased by 11% to SEK 857 m (963), corresponding to an EBITA-margin of 12.0% (14.3). EBITA include reversed contingent considerations amounting to 101 m (85), adjusted for this the EBITA-margin amounts to 10.6% (13.0).
• Profit after tax amounted to SEK 233 m (421).
• Earnings per share amounted to SEK 1.90 (3.46). Earnings per share for the last 12 months amounted to SEK 2.40 (4.92). 
• Cash flow from operating activities amounted to SEK 325 m (558).
• The equity ratio was 39% (38).
• Return on working capital (P/WC) amounted to 49% (61).