Nimbus Group AB (publ) increased its sales by 18 percent to MSEK 475 (402) during the third quarter 2023. EBITA amounted to MSEK 13 (45) and the EBITA margin to 2.7 percent (11.1). “The third quarter 2023 meant continued sales growth for premium boats and improved geographic mix in line with our strategy, but the weakening of the Swedish Krona and lower sales of small boats had a negative effect on our profitability”, says Jan-Erik Lindström, CEO of Nimbus Group.
| THIRD QUARTER JULY – SEPTEMBER 2023 | FIRST 9 MONTHS JANUARY – SEPTEMBER 2023 |
| Net sales for the second quarter increased 18 percent to MSEK 475 (402). | Net sales totaled MSEK 1,537 up 9 percent year-on-year (1,413). |
| Organic growth totaled -15 percent. EBITA amounted to MSEK 13 (45). |
Organic growth totaled -6 percent. EBITA amounted to MSEK 104 (183). |
| The EBITA margin was 2.7 percent (11.1). | The EBITA margin was 6.8 percent (12.9). |
| Operating cash flow amounted to MSEK -46 (-151). | Operating cash flow amounted to MSEK -72 (-106). |
| The order book by period-end totaled MSEK 946 (1,051). | Earnings per share amounted to SEK 3.22 (7.57). |
| Third quarter | First 9 months | Last 12 months | Full year | |||||||
| 2023 | 2022 | % | 2023 | 2022 | % | 2023 | 2022 | % | 2022 | |
| Net sales, MSEK | 475.4 | 402.4 | 18 | 1,537.3 | 1,413.3 | 9 | 1,875.3 | 1,684.2 | 11 | 1,751.2 |
| Operating result, MSEK | 12.7 | 44.7 | -72 | 103.7 | 182.5 | -43 | 113.2 | 187.9 | -39 | 192.0 |
| EBITA, MSEK | 13.0 | 44.8 | -71 | 104.1 | 182.9 | -43 | 114.4 | 188.4 | -39 | 192.5 |
| EBITA-margin, % | 2.7% | 11.1% | -8.4 | 6.8% | 12.9% | -6.1 | 6.1% | 11.2% | -5.1 | 11.0% |
| Result for the period, MSEK | 6.6 | 27.7 | -76 | 67.1 | 146.7 | -54 | 70.1 | 154.1 | -54 | 149.6 |
| Operating cash flow, MSEK | -46.0 | -151.2 | -70 | -71.8 | -106.3 | -33 | -111.8 | -132.9 | -16 | -146.3 |
| Earnings per share | 0.31 | 1.43 | -78 | 3.22 | 7.57 | -57 | 3.43 | 7.95 | -57 | 7.72 |
Link to the report: https://nimbusgroup.se/en/reports-and-presentations/
Analyst conference call: A webcast telephone conference will be held today at 10:00 a.m. during which President and CEO Jan-Erik Lindström will present the report together with CFO Rasmus Alvemyr. The presentation will be followed by a Q&A session. The presentation will be held in English. If you wish to participate via teleconference, please register using the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
Call Access (financialhearings.com)
You can also follow and listen to the presentation and the conference call using the below web link:.
Nimbus Q3 Report 2023 (financialhearings.com)
