- Order intake increased by 50% to MSEK 597 (397).
- Net sales increased by 33% to MSEK 466 (350).
- EBIT up to 21.9 MSEK (-5.2).
- Profit after tax of 10.8 MSEK (-11.7).
- Earnings per share were
- Beijer Group shares have risen on the Nasdaq
from StockholmMid Cap List at the end of the year.
Beijing Electronicand Korenix business entities report as a single entity from January 1, 2022.
- Order intake increased by 40% to MSEK 2,031 (1,449).
- Net sales increased by 13% to MSEK 1,619 (1,438).
- EBIT up to 68.3 MSEK (15.8).
- Profit after tax increased to MSEK 36.0 (-6.1).
- Earnings per share were
- Acquisition of ELTEC from
- The Board of Directors is proposing a dividend of
SEK0.50(0) per share for fiscal year 2021.
- President of Westermo
Jenny Sjodahlappointed new Chairman and CEO of BEIJER GROUP effective March 1, 2022.
COMMENTS FROM CEO PER SAMUELSSON
“BEIJER GROUP consolidated its positive trend of strong growth in order intake and sales in the fourth quarter. Throughout the pandemic, our ambition has been to come out of this crisis stronger. We have made management of the global shortage of components and safeguarding our delivery capacity a conscious strategy,
which has improved sales and order intake, and has been well received by our customers. This also translated into higher purchasing costs for components, which impacted earnings in the quarter. Price increases for customers will gradually offset increased component costs over the coming quarters.
We have taken a new step with the placing of orders
We strengthened our positioning with current professional customers, who generally showed good demand. We also secured several new business accounts, demonstrating growing interest in our solutions and products. At the same time, we are seeing signs of changing customer behavior, with customers
place orders with longer advance planning.
BEIJER GROUP’s improved delivery capacity during the quarter was reflected in its higher growth rate. Sales increased by more than 30% during this period. The increase in component costs amounted to nearly MSEK 20, which impacted earnings in the fourth quarter. We were also affected by negative currency effects of 7 MSEK due to factors such as the strong depreciation of the Turkish lira. The level of earnings for the quarter is too low, but under normal circumstances we would have been able to deliver performance in line with our EBIT margin target.
Over the past year, we have advanced our product positioning. Westermo acquired the German company ELTEC, which added wireless communication solutions for passenger information on trains to the business unit’s offer. Our subsidiary Virtual Access launched the first product of its planned product line called Merlin in the energy segment. Westermo also launched new robust network solutions for the power distribution segment and a complete upgrade of its WeOS operating system with enhanced functionality.
The partnership between
The strategy we implemented a few years ago is now bearing fruit, particularly in terms of growth, and we believe that we still have strong potential for profitability. Our objective is that our entities have the ability to achieve a minimum annual organic growth of 10%, and the potential to achieve a
15% EBIT margin. We continue to screen potential acquisitions. It is gratifying that our stock is now listed on Nasdaq Stockholm’s Mid Cap list. We can also report that assuming the Annual General Meeting approves the proposal of the Board of Directors, BEIJER GROUP will start paying dividends again.
This is my final financial report, as due to my age I will be leaving my position at the end of February this year. President of Westermo
with our highly qualified and professional colleagues.
Uncertainty regarding component shortages remains high and it is difficult to predict when things might normalize. We monitor the
CONFERENCE CALL INVITATION
Today a conference call will be held for press and analysts, where Chairman and Chief Executive Per Samuelsson and Executive Vice President and Chief Financial Officer
To participate in the conference, dial:
From SE: +46850558354
To access the presentation, please use this link:
The report and presentation will be available on the company’s website www.beijergroup.com. A recording of the conference call will also be available here after the event.
Welcome to join us!
This disclosure contains information that
For more information please contact:
Chairman and CEO, Per Samuelsson, tel. 46 (0)40 35 86 10, mobile 46 (0)708 58 54 40
Executive Vice President and Chief Financial Officer
The company is listed on the Nasdaq Stockholm Main Market under the symbol BELE. www.beijergroup.com
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