Year-end Report January-December 2018
When we summarize our fourth quarter, there are some events that stand out. Two major transactions and a recovery in construction operations.
A summary of 2018 shows a turnover of SEK 6,516 million, corresponding to an increase of 16 percent. Operating profit for the year amounts to SEK 595 million (419), corresponding to a margin of 9.1 per cent.
- Income amounted to SEK 1,991 million (1,732), an increase of 15 percent
- Operating profit amounted to SEK 509 million (210)
- Profit for the period amounted to SEK 572 million (152)
- Earnings per share after dilution amounted to SEK 25.14 (6.49)
- Cash flow from operating activities amounted to SEK 264 million (negative 138)
- Order bookings amounted to SEK 1,000 million (1,898)
- Sale of Säve Airport generated an operating profit of SEK 271 million
- The acquisition of the remaining 50 percent of the Karlastaden project generated a revaluation effect of SEK 229 million.
- Income amounted to SEK 6,516 million (5,605), an increase of 16 percent
- Operating profit amounted to SEK 595 million (419) and the operating margin was 9.1 percent (7.5)
- Profit for the period amounted to SEK 604 million (323)
- Earnings per share after dilution amounted to SEK 26.16 (13.81)
- The equity/assets ratio was 40.9 percent (41.3)
- Cash flow from operating activities amounted to SEK 265 million (47)
- Order bookings amounted to SEK 4,692 million (6,400)
- The order backlog amounted to SEK 6,382 million (7,965)
- The Board confirms the company's dividend policy but chooses to await the outcome of current transactions before a recommendation for dividend for 2018 is announced in the notice to the Annual General Meeting.
Ola Serneke, CEO Serneke Group, comments:
– The fourth quarter was characterized by two major transactions; divestment of Säve Airport and the acquisition of all of NREP’s shares (50%) in Karlastaden Holding AB.
– The construction operations have recovered and achieved sales of SEK 1,680 million (1,511) in the quarter, corresponding to an increase of around 11 percent and returned to profit in an amount of SEK 54 million, corresponding to a margin of 3.2 percent.
Presentation of the Interim Report for January-December 2018
On 6 February 2019 at 9:00 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-q4-2018. Presentation materials for the presentation will be available on the website one hour before the webcast begins.
To participate, please dial: +46 856 64 27 07
For more information, please contact:
Anders Düring, CFO
Tel: +46 70 888 7733
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STABLE IN A SHRINKING MARKET