FIRST QUARTER (1 JAN-
- Net sales increased by 5 percent to MSEK 1,576 (1,505). Currency-adjusted sales increased by 5 percent during the quarter.
- Operating profit before depreciation and amortisation (EBITDA) increased by 62 percent to MSEK 223 (138).
- Operating profit increased by 130 percent to MSEK 161 (70), corresponding to an operating margin of 10.2 percent (4.7).
- Profit after financial items increased by 147 percent to MSEK 141 (57).
- Profit after tax amounted to MSEK 103 (41).
-
Earnings per share before dilution increased by 207 percent to
SEK 0.46 (0.15). Earnings per share after dilution totalledSEK 0.46 (0.15). 1) - Cash flow from operating activities amounted to MSEK 64 (-8).
- The equity/assets ratio at the end of the quarter was 56 percent (53). 1)
- Net debt excluding lease liabilities amounted to MSEK 96 (490).
1) Including Discontinued Operations.
EVENTS DURING THE REPORTING PERIOD
- ITAB commenced delivery of 7,200 self-checkouts to the stores of a leading grocery chain in multiple countries in
Europe during January. Completion of the deliveries is expected to take place inFebruary 2025 , and the total value of the contract is estimated at approximately MEUR 16 in 2024. -
In January, ITAB signed an agreement with a leading fashion chain in
Europe for the delivery of customised interiors, checkouts and fitting rooms for the refurbishment of existing stores and in upcoming new stores over three years. The total value of the contract is estimated at approximately MEUR 16. -
ITAB's share buyback program for a maximum amount of MSEK 50, which was introduced in
September 2023 , was completed in lateMarch 2024 when the maximum amount for share repurchases was reached. A total of 3,079,659 ordinary shares were repurchased within the framework of the program. -
In early April, ITAB signed an agreement with a leading grocery chain for the delivery of entrance and exit gates, aimed at improving loss-prevention measures in their stores across
Europe . The total value of the contract is estimated at at least MEUR 8 over three years.
President's comments -
2024 BEGINS WITH HISTORICALLY STRONG EARNINGS
"ITAB started 2024 with a strong quarter in terms of earnings, despite the unchanged economic climate. The stabilisation in demand that we noted in the autumn has continued, and our gross margin has improved. The operating margin for the quarter was the highest to date for the January-March period in any year in ITAB's history, which is a confirmation that our long-term plan works. Over the next two to three years, our focus will be on finishing the final part of our strategy to transform and modernise ITAB in combination with increased focus on expansion and consolidation of the market," concludes President & CEO Andréas Elgaard.
Please read the full President's comments in the Interim Report.
Jönköping,
Webcast presentation on
ITAB arranges a webcast presentation today,
The information in this report is such that
This report is in all respects a translation of the Swedish original Interim Report. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.
For further information, please contact:
Andréas Elgaard, President & CEO
Telephone: +46-732 32 16 35
Telephone: +46-70 660 31 32
itab.com, itabgroup.com
AT ITAB we help customers turn consumer brand experience into physical reality with our know-how, solutions, and ecosystem of partners. We co-create with our customers, efficient retail solutions that deliver convenient and inspiring consumer experiences. The offer includes consultative design services, custom-made interiors, checkout systems, consumer guidance solutions, professional lighting systems and interactive digital solutions for the physical store. ITAB has annual sales of approximately
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