Interim report January-March 2022
A STABLE START TO THE YEAR
- Order bookings amounted to SEK 1,837 million (1,179) and the order backlog was SEK 11,966 million (13,126)
- Income amounted to SEK 2,052 million (1,950)
- Operating profit amounted to SEK 36 million (31)
- Cash flow from operating activities amounted to an outflow of SEK 5 million (2)
- Profit for the period amounted to SEK 55 million (46)
- At the end of the period, available cash and cash equivalents totaled SEK 747 million (775)
- The equity/assets ratio was 36.4 percent (35.7)
- An initial part of the Auriga block in the Karlastaden district was sold to joint venture Karlastaden Group AB, which is owned jointly by Serneke and Fastighets AB Balder.
Michael Berglin, CEO Serneke Group, comments:
“In accordance with our plans, Serneke Sweden’s contracting operations continue to generate additional stable profitability through discipline and by focusing on appropriate projects. Increased income and a positive trend in both operating profit and operating margin for the business area, compared with the first quarter last year, testify to this. I am pleased that we are succeeding in this despite the impact of the winter months and the price increases resulting from the global situation.”
“Although developments associated with the global situation entail possible impacts on housing construction among private clients, we perceive continued strong demand for community service properties going forward. Our order book remains strong, affording us security. It is worth noting here that some projects, initially developed in-house, have been divested but have yet to be entered in the order book, including projects in the Karlastaden district.”
Presentation of the Interim Report for January-March 2021
On May 5, 2022 at 11:00 a.m. (CET), Serneke Group will comment on this Interim Report in a conference call with an online presentation for investors, analysts and the media. The presentation will be in Swedish and can be followed live via webcast at https://tv.streamfabriken.com/serneke-q1-2022. Presentation materials for the presentation will be available on the website one hour before the webcast begins.
To participate, please dial: + 46 8 56642704
For more information, please contact:
Anders Düring, CFO
Tel: +46 70 888 7733
This information is such that Serneke is required to disclose under the EU Market Abuse Regulation. The information was submitted under the auspices of the contact person stated above, for publication on 5 May 2022 at 08.00 a.m. CET.
Serneke is a rapidly growing corporate group active in contracting and project development. The Group was founded in 2002 and today has income of nearly SEK 8.7 billion and approximately 1,200 employees, organized into three business areas: Serneke Sweden, Serneke Invest and Serneke International. Through novel thinking, the Company drives development and creates more effective and more innovative solutions for responsible construction. The Company builds and develops housing, commercial buildings, industri al facilities, public buildings, roads and civil engineering projects, and other infrastructure. The company’s customers consist of both public and commercial clients. The Company’s Swedish units operate nationwide and are organized into five regions: South, West, East, Central and North, and are headquartered in Gothenburg. The Company’s Series B shares (SRNKE) have been listed on the Nasdaq Stockholm exchange since November 2016.
More information about Serneke Group AB can be found at www.serneke.se
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