Summary of the period
First quarter: January 1 – March 31, 2022
Numbers in parentheses refers to outcomes during the corresponding period of the previous year.
- Net revenue amounted to 377.7 MSEK (133.9 MSEK), an increase of 182%
- Operational EBITDA amounted to 94.7 MSEK (36.7 MSEK), corresponding to an increase of 158%, and an operational EBITDA-margin of 24.9% (27.4%). The adjustments refer to costs in connection with the acquisition of NaturVet and Innovet of 11.2 MSEK and an accounting adjustment of acquired inventory of 25.6 MSEK
- Organic, currency-adjusted growth amounted to 7%
- Operational EBIT amounted to 75.0 MSEK (36.1 MSEK), corresponding to an increase of 108%, and an operational EBIT-margin of 19.7% (26.9%)
- Profit after tax amounted to 11.5 MSEK (8.9 MSEK)
- Earnings per share calculated on 146 475 502 shares 0.08 SEK (0.08 SEK)*
- Cash flow from operating activities amounted to 45.6 MSEK (10.9 MSEK)
- As of March 31, 2022, cash amounted to 277.3 MSEK (162.5 MSEK)
Significant events during the first quarter
- Swedencare AB (publ) acquires the leading US pet supplement company NaturVet which was completed on February 1, 2022. The purchase price of a total of 4 181 MSEK was paid through a cash payment of 3 750 MSEK and a new issue in kind of shares of 431 MSEK.
- Swedencare AB (publ) acquires the Italian pet healthcare company Innovet focused on the veterinary segment which was completed on March 1, 2022. The purchase price of a total of 526 MSEK was paid through a cash payment of 449 MSEK and a new issue in kind of shares of 77 MSEK.
- Swedencare AB (publ) carries out a directed new share issue of 35.5 million shares and is thus provided with 3 550 MSEK, which, after issue costs of 16.5 MSEK, provided a net contribution of 3,533.5 MSEK to partially finance the acquisitions of NaturVet and Innovet.
Significant events after the first quarter
- There are no significant events after the end of the first quarter to comment.
* Converted to the number of shares after the share split 5:1 that took place in May 2021