Adapteo Plc Regulatory press release 2 November 2020 at 7:30 a.m. CET
July-September 2020
· Rental sales amounted to EUR 32.7 (31.8 in July-September 2019) million, an
increase by 3% in constant currencies.
· Net sales amounted to EUR 59.1 (60.1) million. In constant currencies, net
sales decreased by 1%.
· Comparable EBITDA was EUR 21.9 (23.1) million, down by 5%. Comparable EBITDA
margin was 37.0% (38.4%).
· Operating cash flow before growth capex was EUR 11.5 (0.5) million.
· Growth capex was EUR 10.5 (2.5) million.
Comments from the CEO
In the third quarter of 2020, Adapteo's Net sales, Rental sales, and earnings
all came in at good levels compared to the first and second quarter this year,
which underlines the resilience in our business model. This stable development
in sales and earnings has been achieved in a quarter when a global pandemic has
significantly reduced the size of important private market segments and delayed
decisions among public-sector customers. The main pillars supporting us in times
like this are long-term contracts with public-sector customers.
The resulting good cashflow has allowed for discretionary capital expenditure to
grow our building portfolio, making it even more future-proof and energy
-efficient. With almost half of the quarter’s growth capex destined for already
won contracts in the German market, we have been able to grow and capture market
share in this market. We have also made a strategic acquisition for further
growth.
Conference call
A conference call with a presentation for investors, analysts and media will be
held today at 09.00 CEST. The presentation will be held via tele conference and
webcast by President and CEO Philip Isell Lind af Hageby and CFO Erik Skånsberg.
The session will start with a presentation, followed by a Q&A session and will
be held in English. A recorded version will be available after the conference at
www.adapteogroup.com under Investors.
Dial in numbers and links to conference call
FIN: +358981710310 PIN: 13418852#
SE: +46 856642651 PIN: 13418852#
UK: +44 3333000804 PIN: 13418852#
Link to audiocast: https://adapteo.videosync.fi/2020-11-02-q3
For additional information, please contact
Philip Isell Lind af Hageby, CEO, +46 73 022 19 36, philip.isell@adapteo.com
Erik Skånsberg, CFO, +46 70 264 70 35, erik.skansberg@adapteo.com
Adapteo in brief
Adapteo is a leading flexible real estate provider in Northern Europe. We build,
rent out and sell adaptable buildings for schools, daycare centres, care,
offices, accommodation and events. We know that our society will go through an
immense change in the years to come. Whatever the future brings, we believe that
adaptability is the best solution. With our buildings, we can transform,
repurpose, scale up and scale down in a matter of weeks by using a modular and
circular building concept. Our buildings can be used for a few days or
indefinitely, always optimised for current needs. That is how we build adaptable
societies.
Adapteo is listed on Nasdaq Stockholm and operates in Sweden, Finland, Norway,
Denmark, Germany, and The Netherlands. In 2019, Adapteo’s Net sales were EUR 216
million.
www.adapteogroup.com