The fourth quarter marked a period of strong organic revenue growth for Accessibility, which together with the successful implementation of the Lift Up Program contributed to an improved adjusted EBITA margin.
Fourth quarter 2020
- Revenue amounted to MEUR 59.2 (61.9).
- Organic growth was 5.6%.
- The gross margin was 43.8% (39.4).
- Adjusted EBITA amounted to MEUR 7.9 (3.7), corresponding to a margin of 13.3% (6.0).
- EBIT totaled MEUR 6.1 (-8.2).
- Net profit for the period (including discontinued operations) amounted to MEUR 2.0 (-11.5).
-
Earnings per share (including discontinued operations) before and after dilution amounted to
EUR 0.03 (-0.20). - Adjusted operating cash flow of MEUR 6.3 (6.0) and leverage of 1.4x.
Dividend proposal
- The Board of Directors proposes a dividend of
EUR 0.07 (0.07) for 2020
Significant events after the end of the period
- On
27 January 2021 ,Savaria (Sweden) AB , a wholly owned subsidiary ofSavaria Corporation , announced a public cash offer toHandicare's shareholders to transfer their shares inHandicare to Savaria. Savaria is offeringSEK 50 perHandicare share.
Outlook for 2021
- Covid-19 continues to make market development uncertain, and thus short-term demand is difficult to predict. However, with the finalization of the Lift Up Program, the company is confident in having established a solid platform for growth. Supported by the attractive underlying long-term growth fundamentals that characterize the Accessibility market,
Handicare sees positively on the development for 2021 and estimates that the full year will be in line with the financial targets.
CEO's Comments
Dear Shareholders,
In the last quarter of 2020, we continued to see gradual market recovery and increased demand for our solutions within the Accessibility area. Simultaneously, we continued the implementation of the Lift Up Program, where we have been able to fully deliver on our commitments during the quarter. After finalizing the first phase in the third quarter, optimizing the workforce setup, the fourth quarter was dedicated to initiating a number of measures to secure strong long-term profitability. For the quarter, we report an organic growth of 5.6% (currency adjusted) and an EBITA margin of 13.3%.
Continued growth in Accessibility
Despite the challenging market environment,
Actions to improve profitability within
The three-step review of
Outlook
Covid-19 continues to make market development uncertain, and thus short-term demand is difficult to predict. However, supported by the attractive underlying long-term growth fundamentals that characterize the Accessibility market and expected market recovery, we see positively on the development for the full year 2021 and estimate that the full year will be in line with our financial targets.
Furthermore, on
In conclusion, leaving an extraordinary 2020 behind, we take with us experiences that none of us expected a year ago, and I want to thank our organization and partners for working through these challenging times. During my first month as CEO, I have been impressed over what the
Henrik Teiwik,
President and CEO
Auditors' review report
This year-end report has not been reviewed by the company's auditors
Telephone conference
A telephone conference, hosted by Henrik Teiwik, President and CEO, and Pernilla Lindén, CFO, will be held at
A presentation will be available at www.handicaregroup.com/investors.
Dates for financial reports and Annual General Meeting:
Interim report January -
Annual report week of
The Annual General Meeting for 2021 will be held in
For more information, contact:
Pernilla Lindén, CFO & IR, Tel +46 708 775 832
This information is information that
Forward-looking statements
To the extent this report contains forward-looking statements, these statements are based on the current expectations of
About
https://news.cision.com/handicare-group-ab/r/year-end-report-2020,c3279184
https://mb.cision.com/Main/16020/3279184/1367675.pdf
(c) 2021 Cision. All rights reserved., source