HANZA Releases Interim Report January-June 2023

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HANZA AB reports another record-strong quarter with stable growth and a significant margin increase. The company further writes about the recently won major order to Mitsubishi and a continued very good order intake in virtually all industries and geographies.

Second quarter 2023

• Net sales increased by 21 % to SEK 1 068 million (886).
• Adjusted for acquisitions and currency, organic growth was 13%.
• Operating profit (EBITA) increased to SEK 92 m (57), which corresponds to an operating margin of 8.6% (6.4).
• Profit after tax amounted to SEK 60 million (36), corresponding to SEK 1.51 per share (1.01) before dilution and SEK 1.49 (1.00) after dilution. 
• Cash flow from operating activities totalled SEK 86 million (29).

First half of 2023

• Net sales increased by 25 % to SEK 2 132 million (1 710).
• Adjusted for acquisitions and currency, growth was 18%.
• Operating profit (EBITA) increased to SEK 179 million (99), which corresponds to an operating margin of 8.4% (5.8). Energy subsidies had a positive impact of SEK 7 million. Excluding this item, operating profit amounted to SEK 172 million, corresponding to an operating margin of 8.1%.
• Profit after tax amounted to SEK 118 million (55), corresponding to SEK 3.00 per share (1.55) before dilution and SEK 2.96 (1.53) after dilution.
• Cash flow from operating activities totalled SEK 175 million (43).

CEO Erik Stenfors comments on the report:

"During the quarter, we saw continued good demand from HANZA's broad customer base. To meet the growth, we are working to expand capacity through efficiency improvements. Q2 was therefore our strongest quarter to date in terms of earnings with an operating margin of 8.6 per cent (6.4). In the Main Markets segment, the margin now reaches as much as 11.1 per cent, which is industry leading. Furthermore, cash flow continues to be strong despite the expansion requiring working capital."

"HANZA also continues to win brand new business and one example is the agreement we signed with Mitsubishi Logisnext Europe in early July. It is a large deal - we estimate the order value to be significantly over SEK 100 million per year - but above all, it is a good example of our unique offer to simplify supply chains. We see that the need is increasing, not least because of a changing world."

"A cornerstone for HANZA is a long-term approach. We look forward to continuing to be a fast-growing company for a long time and thus also during different economic phases. And with profitability that increases for simple and clear reasons."