COMPANY ANNOUNCEMENT
NYAB Plc’s Interim Report January-March 2024: Strong start of the year
January-March in brief
- Revenue amounted to
EUR 59.2 (39.2) million, representing a change of 51.1%. In constant currencies, revenue growth was 51.9%. -
EBITDA was
EUR 1.7 (-0.6) million, amounting to 2.9% (-1.7%) of revenue. -
Operating profit (EBIT) was
EUR 0.4 (-2.1) million, amounting to 0.7% (-5.2%) of revenue -
Free cash flow was
EUR 13.5 (0.9) million - Net debt/EBITDA was -0.8 (0.3)
-
Order backlog improved 21.8% and amounted to
EUR 286.3 (235.0) million.
Financial guidance for 2024 (unchanged, given on
- Revenue and operating profit for 2024 are expected to increase from 2023.
This announcement is a summary of NYAB Plc’s Interim Report January-
Key figures (IFRS)
1–3/ | 1–3/ | R12 4/2023–3/2024 | 1–12/ | |
Revenue, EUR thousand | 59,174 | 39,152 | 300,440 | 280,417 |
Year-on-year change in revenue, % | 51.1% | 124.0% | 9.3% | 10.7% |
EBITDA, EUR thousand | 1,742 | -648 | 23,764 | 21,374 |
% of net sales | 2.9% | -1.7% | 7.9% | 7.6% |
EBITA, EUR thousand | 888 | -1,521 | 20,226 | 17,818 |
% of net sales | 1.5% | -3.9% | 6.7% | 6.4% |
Operating Profit (EBIT), EUR thousand | 385 | -2,051 | 17,623 | 15,187 |
% of net sales | 0.7% | -5.2% | 5.9% | 5.4% |
Profit for the period, EUR thousand | -622 | -2,816 | 11,243 | 9,049 |
Earnings per share (EPS), basic, in euros | 0.00 | 0.00 | 0.02 | 0.01 |
Earnings per share (EPS), diluted, in euros | 0.00 | 0.00 | 0.02 | 0.01 |
Interest-bearing liabilities | 15,940 | 23,620 | 15,940 | 17,014 |
Equity, EUR | 184,226 | 177,528 | 184,226 | 185,326 |
Balance sheet total | 262,419 | 241,242 | 262,419 | 266,088 |
Return on equity, previous 12 months, % | 6.2% | 13.0% | 6.2% | 4.9% |
Return on capital employed, previous 12 months, % | 8.0% | 13.3% | 8.0% | 6.6% |
Equity ratio -% | 74.3% | 73.6% | 74.3% | 73.0% |
Net debt, EUR thousand | -19,222 | 10,048 | -19,222 | -5,630 |
Net gearing -% | -10.4% | 5.7% | -10.4% | -3.0% |
Net debt/EBITDA, previous 12 months | -0.81 | 0.33 | -0.81 | -0.26 |
Free cash flow, EUR thousand | 13,471 | 880 | 34,927 | 22,338 |
Order backlog, EUR thousand | 286,319 | 235,026 | 286,319 | 294,730 |
Number of employees at the end of the period | 419 | 373 | 419 | 403 |
CEO
We clearly both proved and utilized our favorable position in the market during the first quarter. Our revenue grew 51 percent and our order backlog grew 22 percent whilst our EBIT margin was positive. Together with a strong cashflow, our development is notable given that a significant portion of our operations takes place in northern regions. Therefore, our seasonality is strong, and historically we have always had a negative result for the first quarter and accumulated most revenue and profits in the later parts of the year.
A key factor in our strong performance this quarter is the composition of our order backlog. We were able to increase revenue and somewhat smoothen the seasonality of our operations. This has been ongoing for years by securing perennial and year-around contracts. We also enhanced cross-border and inter-project collaboration, increasingly leveraging our business strengths by utilizing the wide expertise and potential in our organization.
We signed a letter of intent for the acquisition of the marine construction operator Dyk & Anläggning
At the end of April, our Extraordinary General Meeting approved the re-domiciliation of our parent company to
I can’t be anything but pleased with a decade of profitable growth. And even more so with our performance and strong results for the first quarter. Our operations are developing in line with our strategy, and outcomes of strategy and execution on both sides of the
Invitation to a management webcast
NYAB will arrange a webcast regarding the Interim Report on Wednesday, 8 May at
Contacts
Aku Väliaho , CFO, NYAB Oyj, +358 (0)40 559 2772, aku.valiaho@nyabgroup.comJohan Larsson , CEO, NYAB Oyj, +46 (0)70 182 5070, johan.larsson@nyabgroup.com
About NYAB Oyj
NYAB enables the progress of society for future generations with extensive experience from complex and challenging projects. We provide services of engineering, construction and maintenance within sustainable infrastructure, industrial construction and renewable energy and therefore contribute to the green transition. We operate in
Attachments
- Download announcement as PDF.pdf
- NYAB Interim Report Q1'24.pdf
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