Meko AB Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 14, 2024 at 01:30 am EST
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Meko AB (publ) reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was SEK 4,373 million compared to SEK 3,895 million a year ago. Revenue was SEK 4,517 million compared to SEK 4,007 million a year ago. Net loss was SEK 4 million compared to net income of SEK 114 million a year ago. Basic loss per share from continuing operations was SEK 0.07 compared to basic earnings per share from continuing operations of SEK 2.05 a year ago.
For the full year, sales was SEK 16,762 million compared to SEK 14,067 million a year ago. Revenue was SEK 17,278 million compared to SEK 14,391 million a year ago. Net income was SEK 419 million compared to SEK 454 million a year ago. Basic earnings per share from continuing operations was SEK 7.5 compared to SEK 8.12 a year ago.
Meko AB, formerly Mekonomen Aktiebolag is a Sweden-based corporate Group that operates and develops business in the automotive aftermarket. The Company is a spare parts distributor with concepts and brands in Northern Europe Denmark, Norway, and Sweden, and Polish market with exports to Germany, the Czech Republic and the Baltics, among others. Meklo operates within four business areas: FTZ, Inter-Team, MECA/Mekonomen and Soerensen og Balchen. The FTZ business area primarily includes wholesale and branch operations in Denmark. The Inter-Team business area primarily includes wholesaling and shop operations in Poland and export operations. The MECA/Mekonomen business area primarily includes wholesale, branch, workshop and fleet operations in Sweden, Norway and Finland. The business area consists of the operations MECA, Mekonomen and a number of smaller operations. The Soerensen og Balchen business area primarily includes wholesale and shop operations in Norway.