Increased turnover and profit.
A word from the CEO
Strong third quarter
During the third quarter of 2021 Tritech Solutions AB was divested, which affected the total turnover by 9.6 MSEK, operating profit by 9.6 MSEK and operating margin by 3.3 percentage units. To facilitate the comparison of operational performance, the following comparisons are exclusive of the disposal of Tritech Solutions AB.
Net turnover in the third quarter of 2022 was 283 MSEK (253), which corresponds to an increase of 12 percent. It is estimated that approximately half of the growth is organic and approximately half is due to acquisitions. The EBITA results during the third quarter of the year were 33.2 MSEK (22.5), which corresponds to an operating increase of 47 percent. The EBITA margin was 11.7 percent (8.9), an increase of 2.8 percentage units.
Earnings per share increased to 1.94 (1.92) where the comparison with 2021 includes the capital gain from Tritech Solutions AB. It is reassuring to know that we can demonstrate an increase in earnings per share despite the large capital gain in the comparison quarter.
During the quarter the number of employees increased to 859, which is 17 more than at the end of the second quarter and 103 more than at the turn of the year. Of the increase of 103 employees, approximately 40 employees come from acquisitions. The organic growth in the number of employees during the first three quarters of the year can thus be recalculated to approximately 8 percent.
During the quarter we also passed 20 percent in the proportion of female staff. We started at 17 percent in the last quarter of 2021 and are now above 20 percent. The level isn’t of itself satisfactory but the progress is absolutely in the right direction.
The quarter has included many employee activities and further investments in Employer Branding. There have been initiatives for competence evenings, trips, hackathons, seminars and social activities with exercise, quizzes, games and trips. It’s great that we can be a place where there is room for a lot of engagement and activities. When there are more of us and we increase the proportion of women it gets even better.
Activities on the customer side have been high during the quarter. Our relationships with customers usually last a long time. It is therefore extra rewarding to see that since the turn of the year nearly one hundred new customers have chosen to use Prevas to solve their needs, which are often complex and demanding. A proportion of these customers can and will develop new long mutually rewarding relationships, which also means that Prevas has healthy customer growth.
During the quarter, we have developed a sustainability training course that will be launched for all employees in the coming quarter. We have also introduced donation of the month where employees can suggest a recipient organization that benefits the community. During the quarter Läxhjälpen and Ingenjörer utan gränser were selected by the employees as recipients.
We have also introduced improvements for shareholders during the quarter. Quarterly reporting will hereafter also be made in English to assist non Swedish speaking investors. During the quarter an external analysts firm has been appointed to increase the security and accessibility for existing and potential investors regarding information and analysis.
The tempo within the organization is high and it is always intensive in the spurt towards the turn of the year as well as preparing for the coming year at the same time. Both tracks are full of energy and the determination to continue developing business is at top level. Regardless if we will face head-wind or tailwind, there is always progress to be made. Hello Possibility.
Johan Strid, CEO Prevas AB
This information is such that Prevas AB (publ) is required to make public in accordance with EU regulations to prevent market abuse and the Securities Market Act. The information was submitted by the above contact person for publication on October 27th, 2022, at 08.30.
This is a translation of an original document in Swedish. In case of dispute, the original document should be taken as authoritative (Delårsrapport jan-sep 2022 at www.prevas.se). Or contact the company direct.