Interim Financial Report for the Period 1 January - 30 September 2024
Company Announcement No. 7 2024
to Nasdaq Copenhagen
2024.10.23
Interim Report 3rd quarter 2024
In the third quarter of 2024 AO achieved a revenue of DKK 1,326m, an EBITDA of DKK 100m, and an EBT of DKK 58m. The organic revenue development was slightly better than expected.
The quarterly figures are impacted by the growth from M&A activities. Organic revenue development adjusted for acquisitions was +1.8% for the quarter. Reported revenue growth was 7.9%.
| Financial Highlights (DKKm) | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 | ||
| Net Revenue | 1,326.1 | 1,229.3 | 3,878.9 | 3,899.9 | ||
| Gross Margin | 303.1 | 283.1 | 892.3 | 916.0 | ||
| EBITDA | 99.6 | 95.6 | 242.9 | 309.9 | ||
| EBT | 58.2 | 63.3 | 130.1 | 203.9 | ||
| Key ratios (%) | ||||||
| Revenue Growth Rate | 7.9 | (0.5) | ||||
| Gross Margin | 22.9 | 23.0 | 23.0 | 23.5 | ||
| EBITDA Margin | 7.5 | 7.8 | 6.3 | 7.9 | ||
| EBT Margin | 4.4 | 5.1 | 3.4 | 5.2 |
Revenue
AO continued to perform well in the B2B market. Project sales are still under pressure from low market activity and price competition. The B2C segment posted positive organic growth rates for the fourth quarter in a row. The Q3 revenue was DKK 1,326m (DKK 1,229m).
EBITDA
EBITDA amounted to DKK 100m, equivalent to an EBITDA margin of 7.5%. The quarterly figures are impacted by a one-off gain of DKK 14m related to sale of real estate.
EBT
EBT amounted to DKK 58m, corresponding to a margin of 4.4%.
Guidance for 2024
Guidance is unchanged compared to Q2.
Revenue for 2024 is expected to be in the range of DKK 5,300 to 5,500m.
EBITDA expectation is in the range of DKK 340 to 370m.
Profit before tax (EBT) expectation is in the range of DKK 200 to 230m.
Financial outlook assumptions are detailed in the interim financial report.
Webcast
The Interim Report for Q3 2024 will be presented in English via webcast on October 24, 2024, at 13:00 CET. It is possible to participate in the webcast from the Investor Relations page on AO.dk or from the link below:
Brødrene A&O Johansen A/S | Interim Report Q3 2024
For further information, please contact:
CEO Niels A. Johansen
CFO/Deputy CEO Per Toelstang
Brødrene A & O Johansen A/S
Rørvang 3
DK- 2620 Albertslund
Denmark
Tlf.: +45 70 28 00 00
Attachment
