INTERIM REPORT JANUARY – SEPTEMBER 2014

Oct 15 2014

INTERIM REPORT JANUARY – SEPTEMBER 2014

Reporting period: January – September

  • Net sales increased 12.6% to MSEK 4,901 (4,351), organic growth 4.6%
  • EBITA increased 44.1% to MSEK 692 (480)
  • EBITA margin increased to 14.1% (11.0%)
  • Profit before tax increased 36.8% to MSEK 611 (447)
  • Net profit increased 62.8% to MSEK 458 (282)
  • Earnings per share increased by 62.6% to SEK 4.97 (3.04)
  • German dental company MDH acquired in March
  • Lifco received a shareholder contribution of MSEK 500 from Carl Bennet AB
  • The Board of Directors has made a decision in principle to list Lifco on Nasdaq Stockholm in November

Reporting period: July – September

  • Net sales increased 18.8% to MSEK 1,653 (1,392), organic growth 6.8%
  • EBITA increased 35.6% to MSEK 227 (167)
  • EBITA margin increased to 13.7% (12.0%)
  • Profit before tax increased 21.8% to MSEK 193 (158)

COMMENTS FROM THE CEO

Lifco’s growth continued during the first nine months of the year. Net sales last twelve months including acquisitions amounted to MSEK 6,774 and EBITA to MSEK 974. We gained positive traction in our business area Dental from the acquisition of MDH, a leading German dental company. At the same time, both business areas Demolition & Tools and Systems Solutions developed favourably. It is particularly pleasing to note that our structural measures undertaken in Systems Solutions during the last two years have now begun to show results.

Lifco acquired MDH in March and the company has developed according to plan. MDH is the leading player in Germany within distribution of dental products to dentists and the largest importer of high quality technical dental work. During the nine month period, net sales for business area Dental increased by 13.9% to MSEK 2,348 (2,062) and EBITA increased by 34.5% to MSEK 394 (293).

Business area Demolition & Tools increased its net sales by 6.8%to MSEK 934 (875) during the nine month period, primarily due to stronger sales in the US. EBITA grew by 9.9% to MSEK 196 (178) during the nine month period. The improvement in profitability is a result of increased volumes and decreased in-house manufacturing.

Business area Systems Solutions has shown a strong recovery this year proving that our structural measures are creating positive effects. Net sales increased by 14.4% to MSEK 1,619 (1,415) and EBITA grew by 164% to MSEK 157 (59) during the nine month period.

All in all, our business environment is stable. We will continue our strategy of investing in marketleading niche operations with the potential to deliver a sustainable profit growth and positive cash flows.

Contact IR och media
Åse Lindskog 

ir@lifco.se

Lifco acquires and develop market leading, niched companies with a potential to deliver sustainable profit growth and good cash flow. The Group has three business areas; Dental, Demolition & Tools and Systems Solutions. Lifco is guided by a clear management philosophy implying that the company has a long-term view on its holdings, focus on profitability and a decentralized organization. Lifco has about 100 companies in 30 countries. The Group had a turnover of more than 6 billion SEK and an EBITA-margin of 11.5% in 2013.