SECOND QUARTER (1 APR-
- Net sales increased by 12 percent to MSEK 1,685 (1,504). Currency-adjusted sales rose by 12 percent.
- Operating profit before depreciation and amortisation (EBITDA) increased by 33 percent to MSEK 212 (159).
- Operating profit increased by 65 percent to MSEK 150 (91), corresponding to an operating margin of 8.9 percent (6.0).
- Profit after financial items increased by 83 percent to MSEK 143 (78).
- Profit after tax amounted to MSEK 97 (53).
-
Earnings per share before and after dilution increased by 69 percent to
SEK 0.44 (0.26). 1) - Cash flow from operating activities amounted to MSEK 77 (213).
REPORTING PERIOD (1 JAN-
- Net sales increased by 8 percent to MSEK 3,261 (3,009). Currency-adjusted sales rose by 8 percent.
- Operating profit before depreciation and amortisation (EBITDA) increased by 46 percent to MSEK 435 (297).
- Operating profit increased by 93 percent to MSEK 311 (161), corresponding to an operating margin of 9.5 percent (5.3).
- Profit after financial items increased by 110 percent to MSEK 284 (135).
- Profit after tax amounted to MSEK 200 (94).
-
Earnings per share before and after dilution increased by 120 percent to
SEK 0.90 (0.41). 1) - Cash flow from operating activities amounted to MSEK 141 (205).
- The equity/assets ratio at the end of the period was 55 percent (50). 1)
- Net debt excluding lease liabilities amounted to MSEK 199 (489).
1) Comparative periods 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. Following a resolution from the Annual General Meeting in May, all of these repurchased ordinary shares have now been cancelled by the company. -
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 to be at least MEUR 8 over three years. -
In May, ITAB made a strategic investment in
Signatrix GmbH , a technology and Retail AI startup. The aim is to continue to build on current AI solutions for loss prevention and broaden the use of the technology to multiple use cases across the in-store environment.
President's comments -
STRONG SALES AND EARNINGS TREND
"For ITAB, the first half of 2024 was characterised by higher sales and strong earnings. Increased demand in several of our markets with a favourable product and customer mix, combined with our strong gross margin, positively impacted the earnings trend for both the quarter and the full reporting period. Operating profit increased by 93 percent to MSEK 311 in the six-month period, corresponding to an operating margin of 9.5 percent. This is the highest operating margin ITAB has reported for the first half of any year so far," 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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