ViaCons delårsrapport januari – mars 2023

God efterfrågan, dock med en lägre försäljning relaterat till GeoTechnical Solutions omsättningsutveckling jämfört med föregående år, resulterande i ett volym- och inflationsdrivet svagare rörelseresultat.

FÖRSTA KVARTALET

  • Från och med den 1 januari 2023 är euro redovisnings- och presentationsvaluta.
  • Nettoomsättningen uppgick till 30 534 (34 959) TEUR, en minskning med 12,7% jämfört med samma period föregående år. Organisk tillväxt uppgick till -9,6%.
  • Rörelseresultat (EBIT) uppgick till -3 600 (-2 757) TEUR, motsvarande en EBIT-marginal på -11,8 (-7,9)%.
  • Rörelseresultat före avskrivningar (EBITDA) uppgick till -2 023 (-1 243) TEUR, motsvarande en EBITDA-marginal på -6,6 (-3,6)%.
  • Justerat rörelseresultat före avskrivningar (justerad EBITDA) uppgick till -1 742 (130) TEUR, motsvarande en justerad EBITDA- marginal på -5,7 (0,4)%.
  • Orderingången uppgick till 43 330 (64 219) TEUR, en minskning med 32,5% jämfört med samma period föregående år. Organisk tillväxt uppgick till -30,3%.

KONCERNCHEFENS KOMMENTAR

ViaCon har en tydlig säsongsvariation under året som följer väderförhållandena, vilka varierar mellan kvartalen och mellan åren. Årets första kvartal följde ett mer normalt säsongsmönster med en lång vinter som har påverkat kvartalet negativt. I jämförelse med det första kvartalet 2022, med en rekordhög orderingång driven av oron för tillgång av material och invasionen i Ukraina, inleddes år 2023 i linje med vår förväntan och efterfrågan var god för säsongen samt rådande konjunkturläge.

Kvartalets omsättning uppgick till 30 534 (34 959) TEUR, en minskning med 12,7 procent jämfört med föregående år. Omsättningsutvecklingen var huvudsakligen relaterad till GeoTechnical Solutions med en organisk tillväxt om -24,0 procent, medan Bridges & Culverts Solutions och StormWater Solutions hade en god organisk tillväxt om 5,1 procent respektive 10,6 procent. ViaCons förvärvade verksamheter har bidragit till en omsättning om 496 TEUR, men vi har också valt att lämna, samt avyttra, icke kärnverksamhet till en omsättning om cirka 650 TEUR i motsvarande period föregående år. Genom att fortsätta att lämna produktgrupper med låg lönsamhet ökar vi våra produktmarginaler. Den organiska tillväxten uppgick till -9,6 procent justerat för avyttringar och uppköp.

Rörelseresultatet (EBIT) uppgick till -3 600 (-2 757) TEUR, motsvarande en EBIT-marginal på -11,8 (-7,9) procent. Det justerade rörelseresultatet uppgick till -3 320 (-1 384) TEUR, motsvarande en justerad EBIT-marginal på -10,9 (-4,0) procent. Rörelseresultatet har påverkats av den lägre omsättningen beroende på kvartalets kyliga och bistra väderförhållanden samt hög inflation. Kvartalets kassaflöde påverkades av kvartalets resultat samt säsongs- uppbyggnad av rörelsekapitalet.

Det sker åtskilliga infrastrukturinvesteringar runt om i Europa då det finns ett stort behov av att förnya och bygga ut en åldrande infrastruktur i många länder. Orderingången under kvartalet uppgick till 43 330 (64 219) TEUR, varav en organisk tillväxt på -30,3 procent. 2022 års efterfrågan och orderingång var hög, men ojämnt fördelad mellan kvartalen.

Tillgängligheten och prissättningen på insatsvaror har stabiliserats och effektivitetsaktiviteter pågår för kompensera det successivt realiserade inflationstrycket. Givet det geopolitiska och makroekonomiska läget är osäkerheten fortsatt stor och försiktigheten hos vissa av våra kunder håller i sig.

ViaCon är ett entreprenöriellt bolag med en historik av att hantera utmaningar på ett flexibelt och handlingskraftigt sätt. Detta möjliggörs av de långa och starka kundrelationer vi har på de marknader där vi är aktiva.

Det pågår ett stor antal projekt i Europa som syftar till att stärka ekonomin och förbättra en infrastruktur som är eftersatt. Vår strategi ger oss tillförsikt i att kunna leverera en fortsatt god utveckling som den ledande europeiska leverantören med mer hållbara lösningar jämfört med alternativa materialslag. Detta kombinerat med att successivt bredda vår marknadsnärvaro och vårt kunderbjudande gör att vi siktar på att växa fortare än marknaden. ViaCon är fast besluten att ligga i framkant för att positivt påverka hållbarhetsutvecklingen inom infrastruktursektorn, ett område där vi verkligen kan göra skillnad för våra kunder och vår omgivning.

Stefan Nordström,
VD och koncernchef

Presentation av rapporten
En direktsänd presentation av resultat och utvecklingen för perioden följt av en frågestund kommer att hållas enligt följande:

Datum: 24 maj 2023
Tid: 14:00-15:00 CET
Värdar: VD och koncernchef Stefan Nordström och Finansdirektör Philip Delborn
Länk till webcasten: https://www.finwire.tv/webcast/viacon-group/q1-2023/

Presentationen kommer att hållas på engelska. Det kommer vara möjligt att ta del av sändningen i efterhand via länken ovan.

Rapporten i sin helhet finns publicerad på www.viacongroup.com.

ViaCon’s Interim Report January – March 2023

Good demand, however, with lower sales related to GeoTechnical Solutions’ sales development compared to the previous year, resulting in a volume- and inflation-driven weaker operating earnings.

FIRST QUARTER

  • As of January 1, 2023, the accounting currency and presentation currency is Euro.
  • Net sales amounted to EUR 30,534 thousand (34,959), a decrease of 12.7% compared with the same period last year. Organic growth amounted to -9.6%.
  • Operating earnings (EBIT) amounted to EUR -3,600 thousand (-2.757), corresponding to an EBIT margin of -11.8% (-7.9).
  • Operating earnings before depreciation (EBITDA) amounted to EUR -2,023 thousand (-1,243), corresponding to an EBITDA margin of -6.6% (-3.6).
  • Underlying earnings before depreciation (underlying EBITDA) amounted to EUR -1,742 thousand (130), corresponding to an underlying EBITDA margin of -5.7% (0.4).
  • Order intake amounted to EUR 43,330 thousand (64,219), a decrease of 32.5% compared with the same period last year. Organic growth amounted to -30.3%.

COMMENTS FROM THE CEO

ViaCon has a clear seasonal variation throughout the year that follows weather conditions, which vary between quarters and between years. The first quarter of the year followed a more normal seasonal pattern with a long winter that has affected the quarter negatively. Compared to the first quarter 2022, with a record high order intake driven by concerns for material availability and the invasion of Ukraine, the year 2023 started in line with our expectation and demand was good for the season and the prevailing economic situation.

Sales for the quarter amounted to EUR 30,534 thousand (34,959), a decrease of 12.7% on the previous year. The sales development was mainly related to GeoTechnical Solutions with an organic growth of -24.0%, while Bridges & Culverts Solutions and StormWater Solutions had good organic growth of 5.1% and 10.6% respectively. ViaCon’s acquired operations have contributed to a turnover of EUR 496 thousand, but we have also chosen to leave, and divest, non-core operations with a turnover of around EUR 650 thousand in the corresponding period of the previous year. By continuing to leave product groups with low profitability, we increase our product margins. Organic growth amounted to -9.6% adjusted for divestments and acquisitions.

The operating earnings (EBIT) amounted to EUR -3,600 thousand (-2,757), corresponding to an EBIT margin of -11.8% (-7.9). The adjusted operating earnings amounted to EUR -3,320 thousand (-1,384), corresponding to an adjusted EBIT margin of -10.9% (-4.0). The operating earnings were affected by the lower sales as a result of the quarter’s unfavourable weather conditions and high inflation. The quarter’s cash flow was affected by the quarter’s results and seasonal build-up of working capital.

There are several infrastructure investments taking place around Europe as there is a great need to renew and expand an ageing infrastructure in many countries. Order intake during the quarter amounted to EUR 43,330 thousand (64,219), of which organic growth was -30.3%. Demand and order intake for 2022 was high, but unevenly distributed between the quarters.

The availability and pricing of input goods has stabilized and efficiency activities are underway to offset the gradually realized inflationary pressure. Given the geopolitical and macroeconomic situation, uncertainty remains high and the caution of some of our customers remains.

ViaCon is an entrepreneurial company with a history of meeting challenges in a flexible, dynamic way. This is also made possible by our strong market position, and the solid, long-term customer relationships we have in the markets where we operate.

There are a large number of projects underway in Europe that aim to strengthen the economy and improve an infrastructure that is neglected. Our strategy gives us confidence in being able to deliver continued good development as the leading European provider, with more sustainable solutions compared to alternative types of materials. This, combined with gradually broadening our market presence and our customer offering, means that we aim to grow faster than the market. ViaCon is determined to be at the forefront of contributing to sustainable development in the infrastructure sector, an area where we can make a difference for our customers and our environment.

Stefan Nordström,
President and CEO, ViaCon Group

Presentation of the report

A live presentation of the financial results and development for the period followed by a Q&A session will be held as follows:

Date: May 24, 2023
Time: 14:00 -15:00 CET
Presenters: CEO Stefan Nordström and CFO Philip Delborn
Link to webcast: https://www.finwire.tv/webcast/viacon-group/q1-2023/

The session will be recorded and available to watch on-demand via the link above.

The full report is published at www.viacongroup.com.

Invitation to presentation of ViaCon’s Q1 2023 report

The ViaCon Group invites you to a webcast presenting 2023’s first-quarter results.

Date: 24 maj 2023
Time: 14:00-15:00 CET
Presenters: CEO Stefan Nordström and CFO Philip Delborn
Link to webcast: ViaCon Group Q1 presentation – Finwire (https://www.finwire.tv/webcast/viacon-group/q1-2023/)

On May 24, 2023 at 14:00 CET, the ViaCon Group will present its 2023 first-quarter results.

ViaCon’s CEO, Stefan Nordström, and CFO, Philip Delborn, will present financial results and development and will be available to answer questions at the end of the session.

The presentation will be in English. The session will be recorded and available to watch on demand via ViaCon Group Q1 presentation – Finwire.

The Q1 report will be published on May 24 in advance of the webcast. All information about the results and presentation will be available on ViaCon's website: Reports – Viacon Group.

Kommuniké från årsstämma i ViaCon Group AB (publ) den 16 maj, 2023

ViaCon Group AB (publ) har hållit årsstämma torsdagen den 16 maj 2023. Nedan följer en sammanfattning av de beslut som fattades vid stämman, samtliga fattades med erforderlig majoritet och i enlighet med inför stämman framlagda förslag.

Fastställande av resultat- och balansräkning samt koncernresultat- och koncernbalansräkning samt ansvarsfrihet

Vid årsstämman fastställdes resultat- och balansräkning samt koncernresultaträkningen och koncernbalansräkningen för 2022. Årsstämman beviljade envar av styrelseledamöterna och den verkställande direktören under året ansvarsfrihet för verksamhetsåret 2022.

Beslut om resultatdisposition

Vid årsstämman beslutades i enlighet med styrelsens förslag att av till stämmans förfogande stående vinstmedel, 162 048 350 kronor (EUR 14 570 335), dela ut sammanlagt 4 208 400 kronor (EUR 378 392) till aktieägarna, vilket motsvarar en utdelning om totalt 84 kronor (EUR 7,55) per utdelningsberättigad aktie, och att i ny räkning balansera 157 839 950 kronor (EUR 14 191 943).

Val av styrelseledamöter, styrelseordförande och revisorer

Styrelsen ska bestå av sex (6) bolagsstämmovalda ledamöter och en (1) suppleant. Patrik Nolåker, Krzysztof Andrulewicz, Ulrik Smith, Niclas Thiel, Moritz Madlener, Elke Eckstein och Gunilla Spongh omvaldes som ordinarie ledamöter samt Philip Delborn till styrelsesuppleant för tiden fram till nästa årsstämma. Patrik Nolåker omvaldes som styrelseordförande för samma period.

Bolaget ska ha en revisor. Revisionsbolaget Ernst & Young AB med Staffan Landén som huvudansvarig revisor, omvaldes som revisor för tiden fram till dess att årsstämma hållits år 2024.

Fastställande av arvode till styrelsens ledamöter och revisorn

Arvode till styrelsens ledamöter ska utgå med fast arvode om sammanlagt 1 550 000 kronor, varav 500 000 kronor ska utgå till styrelsens ordförande Patrik Nolåker, 350 000 kronor ska utgå till var och en av styrelseledamöterna Gunilla Spongh, Elke Eckstein respektive Krzysztof Andrulewicz. Arvode utgår inte till anställd i FSN Capital eller ViaCon.

Vidare beslutade årsstämman att arvode ska utgå till revisorn enligt godkänd räkning.

Besluten i sin helhet

Besluten i sin helhet finns tillgängliga på Bolagets hemsida, www.viacongroup.com.

Press release from the Annual General Meeting of ViaCon Group AB (publ) on May 16, 2023

ViaCon Group AB (publ) held the Annual General Meeting on Thursday, May 16, 2023. Below is a summary of the resolutions at the meeting, all made by the required majority and in accordance with proposals presented to the meeting.

Determination of the income statement and balance sheet, as well as the consolidated income statement and consolidated balance sheet and discharge from liability

At the Annual General Meeting, the income statement and balance sheet as well as the consolidated income statement and consolidated balance sheet for 2022 were adopted. The Annual General Meeting granted each of the Board members and the CEO during the year discharge from liability for the 2022 financial year.

Decision on disposition of the company's profits

The Annual General Meeting resolved in accordance with the Board of Directors’ proposal, to distribute in total SEK 4,208,400 (EUR 378,392) of the company's profit of SEK 162,048,350 (EUR 14,570,335) available to the meeting, to the shareholders, equivalent to a dividend of total SEK 84 (EUR 7.55) per share, and to balance SEK 157,839,950 (EUR 14,191,943).

Election of Board members, Chairman of the Board and re-election of auditor

The Board of Directors shall consist of six (6) members elected by the Annual General Meeting and one (1) deputy. The AGM resolved on the re-election of the board members Patrik Nolåker, Krzysztof Andrulewicz, Ulrik Smith, Niclas Thiel, Moritz Madlener, Elke Eckstein and Gunilla Spongh as ordinary board members and Philip Delborn as a deputy board member for the period until the next Annual General Meeting. For the same period, Patrik Nolåker was re-elected as Chairman of the Board.

The company must have an auditor. The Annual General Meeting resolved to re-elect the auditing company Ernst & Young AB as the company's auditor for the period up to the end of the 2024 AGM. Authorized Public Accountant Staffan Landén will remain as the principal auditor.

Determination of fees to the Board members and the auditor

The Annual General Meeting resolved that fees to the Board members shall be paid in a total of SEK 1,550,000, of which SEK 500,000 shall be paid to the Chairman of the Board, Patrik Nolåker, SEK 350,000 shall be paid to each of Gunilla Spongh, Elke Eckstein and Krzysztof Andrulewicz. A prerequisite for payment is that a member is a board member who is appointed by the Annual General Meeting and is not employed by FSN Capital, the company or subsidiaries.

Furthermore, the Annual General Meeting decided that fees should be paid to the auditor according to approved invoice.

The decision in its entirety

The decisions as a whole are available at www.viacongroup.com.

ViaCon’s Annual Report with Sustainability Report for 2022

The Annual Report with Sustainability Report for 2022 for ViaCon Group AB (publ) has today been published on the company’s website.

The report, together with the appendix "ViaCon Emissions Data Report 2022" are available for download from https://viacongroup.com/portfolio/reports/.

ViaCons årsredovisning med hållbarhetsrapport för 2022

Årsredovisning med hållbarhetsrapport för 2022 för ViaCon Group AB (publ) har idag publicerats på bolagets webbplats.

Rapporten, tillsammans med bilagan ”ViaCon Emissions Data Report 2022” (eng) är tillgängliga för nedladdning från https://www.viacongroup.com/sv/portfolio/rapporter/

Salomeh Tafazoli appointed as ViaCon’s new VP of Bridges and Culverts business unit

The ViaCon Group has appointed Salomeh Tafazoli as ViaCon’s new Vice President, Business Unit Bridges & Culverts Solutions. Bringing extensive leadership and business development experience with her, most recently as Executive Vice President of the industrial division of Alimak Group, Salomeh will contribute to the high-growth trajectory of the business. Salomeh will take on the new role at ViaCon as of May 2nd, 2023.

At the same time, the acting VP of Bridges and Culverts, Onur Başar, will return to his previous role as Regional Business Unit Director, Southeast Europe for the same Business Unit.

We are pleased to welcome Salomeh to the ViaCon Group and wish to thank Onur for his great contributions in the interim VP role. We are pleased to have both Salomeh and Onur aboard, helping steer the organisation from strength to strength.

Harri Sara, VP of Geotechnical Solutions, steps down; Andrzej Rokosz will join ViaCon to take on VP role

ViaCon’s VP of Geotechnical Solutions, Harri Sara, has decided to step down from his current role within the organization as well as the executive team. He will stay within ViaCon Group and take on the role of Senior Director, Plastic Pipes, Geotechnical Solutions which is a key step to further develop the Business Unit.
We are very happy to announce and welcome Andrzej Rokosz as the new VP of Business Unit Geotechnical as of June 5, 2023. Based in Warsaw, Poland, Andrzej comes to ViaCon from Logstor, where he served as VP of Sales for Central Europe. He will support the strategic aims of the business unit and company overall while ensuring business continuity.
We wish to express our gratitude to Harri for his contributions in the VP role during the past three years, and we look forward to welcoming Andrzej to the ViaCon team

ViaCon’s Full Year Report 2022

Strong end to the year, despite ongoing geopolitical tension and rising inflation.

FOURTH QUARTER

  • Net sales amounted to SEK 651.8 million (466.8), an increase of 39.6% compared with the same period last year. Organic growth amounted to 41.0%.
  • Operating earnings before depreciation (EBITDA) amounted to SEK 86.7 million (14.9), corresponding to an EBITDA margin of 13.3% (3.2).
  • Operating earnings (EBIT) amounted to SEK 70.5 million (0.7), corresponding to an EBIT margin of 10.8% (0.1).
  • Underlying earnings before depreciation (underlying EBITDA) amounted to SEK 93.1 million (31.7) , corresponding to an underlying EBITDA margin of 14.3% (6.8).
  • Order intake amounted to SEK 391.5 million (334.9), an increase of 16.9 % on the same period last year. Organic growth amounted to 14,8%.

JANUARY – DECEMBER

  • Net sales amounted to SEK 2,321.5 million (1,946.3), an increase of 19.3% compared with the same period last year. Organic growth amounted to 18.8%.
  • Operating earnings before depreciation (EBITDA) amounted to SEK 239.3 million (200.9), corresponding to an EBITDA margin of 10.3% (10.3).
  • Operating earnings (EBIT) amounted to SEK 178.1 million (143.7), corresponding to an EBIT margin of 7.7% (7.4).
  • Underlying earnings before depreciation (underlying EBITDA) amounted to SEK 285.5 million (239.1), corresponding to an underlying EBITDA margin of 12.3% (12.3).
  • Order intake amounted to SEK 2,293.0 million (1,925.6), an increase of 19.1 % on the same period last year. Organic growth amounted to 17,1%.

COMMENTS FROM THE CEO

Sales for the quarter amounted to SEK 651.8 (466.8) million, an increase of 39.6% on the previous year. ViaCon’s acquired operations contributed SEK 26.4 million to sales, although we chose to leave and divest non-core operations with a sales amount of approximately SEK 24.8 million in the corresponding period last year. Organic growth was 41.0%, adjusted for divestments and acquisitions. During the first three quarters of the year, ViaCon experienced that deliveries to customers were postponed as an effect of disruptions in the supply chain and longer lead times in customers’ financing of projects. During the fourth quarter, ViaCon has focused on delivering these orders, which had a positive impact on sales and results. Adjusted for non-recurring items, adjusted operating earnings before depreciation and amortisation amounted to SEK 93.1 (31.7) million, resulting in an adjusted EBITDA margin of 14.3 (6.8)%. The quarter’s operating earnings were also affected by rising inflation, a higher cost structure, and one-off costs for medium- and long-term growth initiatives.

There are several infrastructure investments taking place around Europe as there is a great need to renew and expand an ageing infrastructure in many countries. During the fourth quarter, we had a high order intake which amounted to SEK 391.5 (334.9) million, of which the organic growth was 14.8%. Demand and order intake have been strong during the year, but unevenly distributed between the quarters, and for the full year order intake amounted to SEK 2,293.0 (1,925.6) million, of which organic growth was 17.1%. The order book at the end of December remained good.

Cash flow for the quarter was strong as an effect of earnings and reduced working capital, driven by deliveries of previously deferred infrastructure projects. Through concerted efforts, we also reduced our inventory and our overdue accounts receivable during the quarter, which also contributed positively to the business’s cash flow.

During the first six months of the year, ViaCon experienced greatly increased prices for input goods and longer lead times for these. During the last six months, prices and lead times decreased and we experienced a stabilisation in the market for both suppliers’ and customers’ financing. During the quarter we have focused on increased flexibility so that we can quickly adapt the business to any changes in demand. ViaCon is affected by the ongoing geopolitical turmoil and rising inflation. The costs related to energy, transport and disruptions in the supply chain are high, which is a challenge, and we work actively to try to compensate for the related effects. High inflation and interest rate rises increases lead to some uncertainty for the market in 2023, especially within the StormWater Solutions business unit which has a larger share of privately funded projects.

ViaCon is an entrepreneurial company with a history of meeting challenges in a flexible, dynamic way. This is also made possible by our strong market position, and the solid, long-term customer relationships we have in the markets where we operate.

Thousands of sustainability projects are underway, aiming to strengthening Europe and rebuilding the economy of an entire continent whose infrastructure has been neglected. Our strategy gives us confidence in being able to deliver continued good development as the leading European provider, with more sustainable solutions compared to alternative types of materials. This, combined with gradually broadening our market presence and our customer offering, means that we aim to grow faster than the market. ViaCon is determined to be at the forefront of contributing to sustainable development in the infrastructure sector, an area where we can make a difference for our customers and our environment.

Stefan Nordström,
President and CEO, ViaCon Group

Presentation of the report

A live presentation of the financial results and development for the period followed by a Q&A session will be held as follows:

Date: Monday, February 20, 2023
Time: 10:00 -11:00 CET
Presenters: CEO Stefan Nordström and CFO Philip Delborn
Link to webcast: https://www.finwire.tv/webcast/viacon-group/2022-q4/

The session will be recorded and available to watch on-demand via the link above.

The full report is published at www.viacongroup.com.

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About us

ViaCon constructs connections. Consciously.

We combine more than three decades of experience with today's cutting-edge technology and vital sustainable goals. ViaCon is a pioneer in the field of Bridges & Culverts-, GeoTechnical- and StormWater Solutions.

About us

ViaCon constructs connections. Consciously.

We combine more than three decades of experience with today's cutting-edge technology and vital sustainable goals. ViaCon is a pioneer in the field of Bridges & Culverts-, GeoTechnical- and StormWater Solutions.

About us

ViaCon constructs connections. Consciously.

We combine more than three decades of experience with today's cutting-edge technology and vital sustainable goals. ViaCon is a pioneer in the field of Bridges & Culverts-, GeoTechnical- and StormWater Solutions.

About us

ViaCon constructs connections. Consciously.

We combine more than three decades of experience with today's cutting-edge technology and vital sustainable goals. ViaCon is a pioneer in the field of Bridges & Culverts-, GeoTechnical- and StormWater Solutions.