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Alimak Group
Quarterly Report • Apr 24, 2025
2997_10-q_2025-04-24_080b1696-25cd-4b57-ac54-24d4843c6566.pdf
Quarterly Report
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Alimak Group AB ALIG, SE0007158910 JANUARY – MARCH 2025
Interim report
Q1
Strong order intake and continued margin increase
- ⎯ Order intake increased by 16% to MSEK 2 005 (1 729), an increase of 16% at constant currency
- ⎯ Revenue remained stable at MSEK 1 732 (1 736)
- ⎯ Adjusted EBITA margin increased to 17.3% (16.4)
- ⎯ Cash flow from operations of MSEK 175 (214), and Net debt/EBITDA was 1.58 (2.25)
JANUARY - MARCH
- ⎯ Order intake increased by 16% (16% at constant currency) to MSEK 2 005 (1 729). Strong performance in Industrial, Wind, Facade Access, and Height Safety & Productivity Solutions.
- ⎯ Revenue remained stable at MSEK 1 732 (1 736), with a positive contribution from the Construction division, offset by a decrease in the Industrial division.
- ⎯ Adjusted EBITA increased to MSEK 300 (285), corresponding to a margin of 17.3% (16.4).
- ⎯ EBITA, as reported, amounted to MSEK 328 (281), positively impacted by Items Affecting Comparability (IAC) of MSEK 28 (-4) related to the sale of the Mammendorf real estate.
- ⎯ EBIT amounted to MSEK 292 (228).
- ⎯ Basic earnings per share increased to SEK 1.74 (1.24) and diluted to SEK 1.73 (1.24).
- ⎯ Cash flow from operations was MSEK 175 (214). The decrease primarily relates to some inventory increases.
| KEY FIGURES, GROUP | Q1 2025 | Q1 2024 | ∆ |
|---|---|---|---|
| Order intake*, MSEK | 2 005 | 1 729 | 15.9% |
| Revenue, MSEK | 1 732 | 1 736 | -0.2% |
| EBITA adj*, MSEK | 300 | 285 | 5.2% |
| EBITA adj*, margin, % | 17.3% | 16.4% | |
| EBITA*, MSEK | 328 | 281 | 16.8% |
| EBITA* margin, % | 18.9% | 16.2% | |
| EBIT, MSEK | 292 | 228 | 28.3% |
| EBIT margin, % | 16.8% | 13.1% | |
| Result for the period, MSEK | 184 | 131 | 40.8% |
| Earnings per share, before dilution, SEK | 1.74 | 1.24 | 40.3% |
| Earnings per share, after dilution, SEK | 1.73 | 1.24 | 39.5% |
| Earnings per share adj., before dilution*, SEK | 1.79 | 1.66 | 7.8% |
| Cash flow from operations, MSEK | 175 | 214 | -18.2% |
| Net debt/EBITDA*, ratio | 1.58 | 2.25 | -29.7% |
| *Alternative performance measure, see Definitions |
Comments by the CEO
We had a solid start to 2025, and continued to deliver profitable growth, reporting strong order intake and increased results. This again showcases the strength of the New Heights programme that we have executed on over the last years. Despite increased market uncertainty, we continue to manage the business well and we are confident that our decentralised, agile and entrepreneurial organisation will effectively navigate the current market challenges.
Strong order intake and improved results
I'm very pleased with the strong order intake in the quarter, of more than BSEK 2, an increase of 16%. All divisions contributed, with the strongest performance seen in the Industrial and Wind divisions, while the Facade Access and HSPS divisions also delivered double digit growth. Although the growth in order intake was only 1% in Construction, it was against a high comparable, making it a solid quarter for the division.
Revenue was flat year-over-year, with a high book-to-bill ratio, building on our orderbook.
Group earnings and margins continued to improve, with an adjusted EBITA margin of 17.3%, up from 16.4% last year. The Construction division's margin increased significantly as expected with strong deliveries, while the Industrial, HSPS and Wind divisions continued to deliver solid margins.
The Facade Access margin remained flat compared to last year but was negatively affected by significant work in the final phase of some larger legacy projects as well as a soft building maintenance unit (BMU) market over time, resulting in lower factory utilisation. Given the current market turbulence, it seems that investment decisions for new tall buildings will continue to be postponed. We continue to drive our transformation programme to secure further margin improvement and maintain a strong focus on infrastructure, the aftermarket and lighter equipment.
Solid financial position
Our strong focus on profitable growth and cash continue to strengthen our financial position and our leverage ratio is now down to 1.58, compared to 2.25 a year ago. Cash flow from operations came down in the quarter mostly due to some inventory increases to ensure future deliveries in response to strong order intake.
We continue to invest in our technology leadership, with new, smarter and connected machines and solutions. During the quarter, we acquired intangible assets from the Spanish company Camac Minor, which complements our light construction products. We also continue to work actively on our pipeline of promising acquisition targets.
Increased market uncertainty due to tariffs imposed by the US
The recently imposed tariffs by the US have increased global market uncertainty. We are closely monitoring the developments and are well-prepared to manage the direct impacts on our business. Mitigation efforts primarily include price management but also the optimising of our supply chain. The impact on global growth and investment decisions is more uncertain, but we will manage that as well and remain committed to our financial targets.
I would like to conclude by thanking our great employees,
customers, suppliers and other stakeholders for taking the Group to new heights every day.
Ole Kristian Jødahl, President and CEO
Group Performance
JANUARY-MARCH
Order intake in the period increased by 16% (16% at constant currency) to MSEK 2 005 (1 729). The Industrial, Wind, Facade Access and Height Safety & Productivity Solutions divisions performed strongly.
Revenue remained stable at MSEK 1 732 (1 736), with a positive contribution from the Construction division, offset by a decrease in the Industrial division.
Adjusted EBITA increased to MSEK 300 (285), corresponding to a margin of 17.3% (16.4).
EBITA, as reported, amounted to MSEK 328 (281). Items Affecting Comparability was MSEK 28 (-4) for the period and related to the sale of the Mammendorf real estate in Germany.
| Q1 | |||
|---|---|---|---|
| ORDER INTAKE* | 2025 | 2024 | |
| Orders, MSEK | 2 005 | 1 729 | |
| Change, MSEK | 276 | -141 | |
| Change, % | 15.9% | -7.5% | |
| Whereof: | |||
| Volume & price, % | 15.7% | -7.1% | |
| Currency, % | 0.3% | -0.4% | |
| Acquisition & divestment, % | 0.0% | 0.0% | |
| REVENUE | Q1 | ||
| 2025 | 2024 | ||
| Revenue, MSEK | 1 732 | 1 736 | |
| Change, MSEK | -3 | -9 | |
| Change, % | -0.2% | -0.5% | |
| Whereof: | |||
| Volume & price, % | -0.4% | -0.4% | |
| Currency, % | 0.3% | -0.1% | |
| Acquisition & divestment, % | 0.0% | 0.0% | |
| EBITA adj.* | Q1 | ||
| 2025 | 2024 | ||
| EBITA adj., MSEK | 300 | 285 | |
| Change, MSEK | 15 | -4 | |
| Change, % | 5.2% | -1.5% | |
| Whereof: | |||
| Volume & price, % | 5.2% | -1.6% | |
| Currency, % | 0.0% | 0.1% | |
| Acquisition & divestment, % | 0.0% | 0.0% | |
*Alternative performance measure, see Definitions
Amortisation for the period amounted to MSEK 36 (53).
EBIT for the period was MSEK 292 (228).
The financial net amounted to MSEK -44 (-50). The interest net was MSEK -30 (-52), the arrangement fee for loans was MSEK -5 (-6), leases was MSEK -4 (-3) and the remainder related to currency impacts.
Tax expense for the period was MSEK 63 (46), corresponding to a tax rate of 25.5% (26.1).
Result for the period amounted to MSEK 184 (131).
Basic earnings per share was SEK 1.74 (1.24) and diluted SEK 1.73 (1.24).
Cash flow from operations amounted to MSEK 175 (214), affected by some inventory increases (impact of MSEK -57) to ensure future deliveries in response to strong order intake.
Net investments in fixed assets for the period totalled MSEK 47 (20), of which MSEK 25 (10) was related to additions to the rental fleet.
No changes in net borrowings MSEK 0 (-202).
Alimak Group AB
Interim Report Q1 January - March 2025
FINANCIAL POSITION
As of 31 March 2025, net debt totalled MSEK 2 378 (3 094).
The equity ratio was 53.6% (51.7) and the leverage ratio (net debt/EBITDA) was 1.58 (2.25).
EMPLOYEES
As of 31 March 2025, there were 2 928 (2 954) FTEs in the Group.
SIGNIFICANT EVENTS DURING THE REPORTING PERIOD JANUARY - MARCH 2025
Organisational change
As of 1 March 2025, Philippe Gastineau is fully focused on his role as senior EVP of the Facade Access division, while José Maria Nevot, currently EVP of the Wind division, has taken over the role of EVP for the Height Safety & Productivity Solutions division. Rafael Peña Guinaliu, previously COO of the Wind division, has assumed the position of EVP for the Wind division.
FINANCIAL TARGETS AND POLICIES
Please refer to alimakgroup.com
SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD
No significant event has occurred after the reporting period.
Facade Access
Order intake increased by 17% (16% at constant currency) to MSEK 496 (423). The strong order intake was driven by significant equipment orders in Hong Kong and Australia, along with refurbishment orders in Malaysia. The order intake in EMEA was also strong, supported by a dynamic Middle East market, particularly in the UAE. Meanwhile, the North American building maintenance unit market remained soft.
Revenue decreased by 1% (-1% at constant currency) to MSEK 482 (485).
EBITA was MSEK 46 (46), corresponding to a margin of 9.5% (9.5). The margin was negatively affected by significant work in the final phase of some larger legacy projects, as well as a soft building maintenance unit (BMU) market over time, resulting in lower factory utilisation.
| Q1 | |||
|---|---|---|---|
| ORDER INTAKE* | 2025 | 2024 | |
| Orders, MSEK | 496 | 423 | |
| Change, MSEK | 73 | -70 | |
| Change, % | 17.3% | -14.2% | |
| Whereof: | |||
| Volume & price, % | 16.4% | -13.9% | |
| Currency, % | 0.9% | -0.3% | |
| Acquisition & divestment, % | 0.0% | 0.0% | |
| REVENUE | Q1 | ||
| 2025 | 2024 | ||
| Revenue, MSEK | 482 | 485 | |
| Change, MSEK | -3 | -1 | |
| Change, % | -0.6% | -0.1% | |
| Whereof: | |||
| Volume & price, % | -1.0% | 0.1% | |
| Currency, % | 0.3% | -0.2% | |
| Acquisition & divestment, % | 0.0% | 0.0% | |
| Q1 | |||
| EBITA* | 2025 | 2024 | |
| EBITA, MSEK | 46 | 46 | |
| EBITA, % | 9.5% | 9.5% | |
| Change, MSEK | 0 | 17 | |
| Change, % | 0.0% | 58.1% | |
| Whereof: | |||
| Volume & price, % | 0.8% | 57.5% | |
| Currency, % | -0.8% | 0.6% | |
| Acquisition & divestment, % | 0.0% | 0.0% |
Construction
Order intake increased by 1% (1% at constant currency) to MSEK 490 (484), driven by a solid order intake for the rental business in Australia and strong demand for used equipment in Europe, with a high book-to-bill ratio.
Revenue increased by 11% (+11% at constant currency) to MSEK 413 (371), supported by the good order intake in Q4 2024 of hoists in the US and the Middle East, and mast climbing work platforms in the Nordics. Used equipment sales continued to contribute positively.
EBITA was MSEK 66 (39), corresponding to a margin of 16.1% (10.4). The increase was driven by higher volumes, primarily in hoists, mast climbing work platforms and spare parts, leading to improved factory utilisation.
| ORDER INTAKE* | Q1 | |
|---|---|---|
| 2025 | 2024 | |
| Orders, MSEK | 490 | 484 |
| Change, MSEK | 5 | 16 |
| Change, % | 1.1% | 3.3% |
| Whereof: | ||
| Volume & price, % | 1.0% | 4.0% |
| Currency, % | 0.1% | -0.7% |
| Acquisition & divestment, % | 0.0% | 0.0% |
| REVENUE | Q1 | |
| 2025 | 2024 | |
| Revenue, MSEK | 413 | 371 |
| Change, MSEK | 41 | -95 |
| Change, % | 11.0% | -20.4% |
| Whereof: | ||
| Volume & price, % | 10.9% | -20.3% |
| Currency, % | 0.2% | -0.1% |
| Acquisition & divestment, % | 0.0% | 0.0% |
| Q1 | ||
| EBITA* | 2025 | 2024 |
| EBITA, MSEK | 66 | 39 |
| EBITA, % | 16.1% | 10.4% |
| Change, MSEK | 28 | -48 |
| Change, % | 71.7% | -55.1% |
| Whereof: | ||
| Volume & price, % | 72.1% | -54.9% |
| Currency, % | -0.4% | -0.3% |
| Acquisition & divestment, % | 0.0% | 0.0% |
Height Safety & Productivity Solutions
Order intake increased by 14% (+13% at constant currency) to MSEK 382 (336), supported by strong order intake in temporary access in North America, along with increased orders from elevator customers in the Middle East and India.
Revenue decreased by 1% (-2% at constant currency) to MSEK 349 (354), impacted by the challenging conditions in the European construction end-market.
EBITA increased to MSEK 70 (61), corresponding to a margin of 20.0% (17.4), driven by higher gross margin, a favourable product mix and effective cost control.
| Q1 | |||
|---|---|---|---|
| ORDER INTAKE* | 2025 | 2024 | |
| Orders, MSEK | 382 | 336 | |
| Change, MSEK | 45 | -14 | |
| Change, % | 13.5% | -3.9% | |
| Whereof: | |||
| Volume & price, % | 13.3% | -4.3% | |
| Currency, % | 0.3% | 0.5% | |
| Acquisition & divestment, % | 0.0% | 0.0% | |
| REVENUE | Q1 | ||
| 2025 | 2024 | ||
| Revenue, MSEK | 349 | 354 | |
| Change, MSEK | -4 | -8 | |
| Change, % | -1.3% | -2.2% | |
| Whereof: | |||
| Volume & price, % | -1.6% | -2.7% | |
| Currency, % | 0.3% | 0.5% | |
| Acquisition & divestment, % | 0.0% | 0.0% | |
| EBITA* | Q1 | ||
| 2025 | 2024 | ||
| EBITA, MSEK | 70 | 61 | |
| EBITA, % | 20.0% | 17.4% | |
| Change, MSEK | 8 | -14 | |
| Change, % | 13.7% | -18.5% | |
| Whereof: | |||
| Volume & price, % | 12.9% | -18.8% | |
| Currency, % | 0.9% | 0.4% | |
| Acquisition & divestment, % | 0.0% | 0.0% |
Industrial
Strong order intake, increasing by 32% (31% at constant currency) to MSEK 432 (328). The growth was driven primarily by the Middle East and North America. Larger equipment and refurbishment orders were spread across the cement, oil & gas and other heavy industry segments. Aftermarket business also contributed with significant growth.
Revenue decreased by 11% (-11% at constant currency) to MSEK 354 (397), due to timing of new equipment deliveries.
EBITA was MSEK 90 (106), corresponding to a margin of 25.3% (26.6). The lower EBITA margin was driven by a lower revenue, partially offset by higher gross margins and a higher share of aftermarket business.
| ORDER INTAKE* | Q1 | ||
|---|---|---|---|
| 2025 | 2024 | ||
| Orders, MSEK | 432 | 328 | |
| Change, MSEK | 104 | -43 | |
| Change, % | 31.5% | -11.7% | |
| Whereof: | |||
| Volume & price, % | 31.4% | -10.7% | |
| Currency, % | 0.1% | -1.0% | |
| Acquisition & divestment, % | 0.0% | 0.0% | |
| REVENUE | Q1 | ||
| 2025 | 2024 | ||
| Revenue, MSEK | 354 | 397 | |
| Change, MSEK | -42 | 85 | |
| Change, % | -10.7% | 27.4% | |
| Whereof: | |||
| Volume & price, % | -11.0% | 28.1% | |
| Currency, % | 0.3% | -0.7% | |
| Acquisition & divestment, % | 0.0% | 0.0% | |
| EBITA* | Q1 | ||
| 2025 | 2024 | ||
| EBITA, MSEK | 90 | 106 | |
| EBITA, % | 25.3% | 26.6% | |
| Change, MSEK | -16 | 32 | |
| Change, % | -15.1% | 43.5% | |
| Whereof: | |||
| Volume & price, % | -15.3% | 43.8% | |
| Currency, % | 0.2% | -0.2% | |
| Acquisition & divestment, % | 0.0% | 0.0% |
Wind
Order intake increased by 24% (25% at constant currency) to MSEK 217 (175). APAC had a strong quarter in new equipment, while aftermarket growth remained high in Northern and Central Europe.
Revenue was flat at MSEK 153, with positive contribution from ladders, spare parts and training.
EBITA was MSEK 28 (30), corresponding to a margin of 18.2% (19.8). Gross margin in new equipment declined slightly due to product mix, partially offset by higher margins in parts and e-learning. We continue to invest in product development.
| Q1 | |||||
|---|---|---|---|---|---|
| ORDER INTAKE* | 2025 | 2024 | |||
| Orders, MSEK | 217 | 175 | |||
| Change, MSEK | 42 | -33 | |||
| Change, % | 24.1% | -15.7% | |||
| Whereof: | |||||
| Volume & price, % | 24.9% | -15.3% | |||
| Currency, % | -0.8% | -0.4% | |||
| Acquisition & divestment, % | 0.0% | 0.0% | |||
| REVENUE | Q1 | ||||
| 2025 | 2024 | ||||
| Revenue, MSEK | 153 | 153 | |||
| Change, MSEK | -1 | 2 | |||
| Change, % | -0.4% | 1.2% | |||
| Whereof: | |||||
| Volume & price, % | -0.2% | 1.1% | |||
| Currency, % | -0.2% | 0.1% | |||
| Acquisition & divestment, % | 0.0% | 0.0% | |||
| EBITA* | Q1 | ||||
| 2025 | 2024 | ||||
| EBITA, MSEK | 28 | 30 | |||
| EBITA, % | 18.2% | 19.8% | |||
| Change, MSEK | -3 | 5 | |||
| Change, % | -8.5% | 21.5% | |||
| Whereof: | |||||
| Volume & price, % | -7.4% | 19.2% | |||
| Currency, % | -1.0% | 2.3% | |||
| Acquisition & divestment, % | 0.0% | 0.0% |
Condensed consolidated statement of comprehensive income
| Amounts in MSEK | Note | Q1 2025 | Q1 2024 |
|---|---|---|---|
| Revenue | 2 | 1 732 | 1 736 |
| Cost of sales | -1 003 | -1 038 | |
| Gross profit | 729 | 698 | |
| Operating expenses | -437 | -470 | |
| Participations in the results of associated companies | 0 | 0 | |
| Operating profit (EBIT) | 292 | 228 | |
| Financial net* | -45 | -50 | |
| Profit before tax (EBT) | 247 | 178 | |
| Income tax | -63 | -46 | |
| Net profit | 184 | 131 | |
| Attributable to owners of the parent company | 184 | 131 | |
| Earnings per share, basic, SEK | 1.74 | 1.24 | |
| Earnings per share, diluted, SEK | 1.73 | 1.24 | |
| OTHER COMPREHENSIVE INCOME | |||
| Items that will not be reclassified to net profit for the period | |||
| 9 | -30 | ||
| Remeasurements of defined benefit pension plans | -2 | 8 | |
| Income tax relating to remeasurements of pension plans Total |
7 | -22 | |
| Items that may be reclassified to net profit for the period | |||
| Foreign exchange translation differences | -485 | 291 | |
| Change in fair value of cash flow hedges | 10 | -8 | |
| Income tax relating to change in fair value of cash flow hedges | -2 | 2 | |
| Total | -477 | 285 | |
| Other comprehensive income | -470 | 263 | |
| Total comprehensive income | -286 | 394 | |
| Attributable to owners of the parent company | -286 | 394 |
* From the second quarter 2024 financial income and expenses are presented on a net basis.
Condensed consolidated statement of financial position
| Amounts in MSEK | Note | 31 Mar 2025 | 31 Mar 2024 | 31 Dec 2024 |
|---|---|---|---|---|
| ASSETS | ||||
| Goodwill and Intangible assets | 8 034 | 8 674 | 8 545 | |
| Property, plant and equipment | 616 | 653 | 680 | |
| Right-of-use assets | 300 | 320 | 299 | |
| Deferred tax assets | 138 | 171 | 148 | |
| Financial and other non-current assets | 4 | 229 | 270 | 252 |
| Total non-current assets | 9 317 | 10 088 | 9 923 | |
| Inventories | 1 224 | 1 233 | 1 249 | |
| Contract assets | 280 | 356 | 321 | |
| Trade receivables | 4 | 1 276 | 1 379 | 1 341 |
| Other receivables | 4 | 242 | 233 | 210 |
| Prepaid expenses and accrued income | 4 | 140 | 158 | 133 |
| Short-term investments | 4 | 60 | 31 | 45 |
| Cash and cash equivalents | 4 | 1 114 | 728 | 1 095 |
| Total current assets | 4 336 | 4 119 | 4 394 | |
| TOTAL ASSETS | 13 653 | 14 208 | 14 317 | |
| EQUITY AND LIABILITIES | ||||
| Shareholders equity | 7 314 | 7 349 | 7 600 | |
| Long-term borrowings | 4 | 3 240 | 3 509 | 3 428 |
| Lease liabilities | 4 | 201 | 213 | 197 |
| Deferred tax liabilities | 799 | 884 | 849 | |
| Other long term liabilities | 4 | 278 | 307 | 303 |
| Total non-current liabilities | 4 518 | 4 913 | 4 777 | |
| Short-term borrowings | 4 | 0 | 30 | 0 |
| Lease liabilities | 4 | 111 | 102 | 113 |
| Contract liabilities | 299 | 300 | 311 | |
| Trade payables | 4 | 406 | 455 | 444 |
| Other current liabilities | 4 | 1 005 | 1 058 | 1 073 |
| Total current liabilities | 1 821 | 1 945 | 1 940 | |
| TOTAL EQUITY AND LIABILITIES | 13 653 | 14 208 | 14 317 |
Condensed consolidated statement of changes in equity
| Retained | ||||||
|---|---|---|---|---|---|---|
| Share | Translation | earnings and | Total | |||
| Amounts in MSEK | capital | Other paid-in capital |
reserve | Hedging reserve |
profit for the period |
equity |
| Opening balance, 1 Jan 2024 | 2 | 5 277 | 324 | -11 | 1 363 | 6 955 |
| Result for the period | - | - | - | - | 131 | 131 |
| Changes of fair value | - | - | - | -8 | - | -8 |
| Revaluation of pension plans | - | - | - | - | -30 | -30 |
| Tax attributable to revaluations | - | - | - | 2 | 8 | 10 |
| Translation difference | - | - | 291 | - | - | 291 |
| Total comprehensive income | - | - | 291 | -6 | 109 | 394 |
| Closing balance, 31 Mar 2024 | 2 | 5 277 | 615 | -16 | 1 472 | 7 349 |
| Result for the period | - | - | - | - | 492 | 492 |
| Changes of fair value | - | - | - | 3 | - | 3 |
| Revaluation of pension plans | - | - | - | - | -5 | -5 |
| Tax attributable to revaluations | - | - | - | -1 | 11 | 10 |
| Translation difference | - | - | 8 | - | - | 8 |
| Total comprehensive income | - | - | 8 | 2 | 498 | 507 |
| Dividend | - | - | - | - | -265 | -265 |
| Issued call options | - | 9 | - | - | - | 9 |
| Closing balance, 31 Dec 2024 | 2 | 5 286 | 623 | -15 | 1 705 | 7 600 |
| Opening balance, 1 Jan 2025 | 2 | 5 286 | 623 | -15 | 1 705 | 7 600 |
| Result for the period | - | - | - | - | 184 | 184 |
| Changes of fair value | - | - | - | 10 | - | 10 |
| Revaluation of pension plans | - | - | - | - | 9 | 9 |
| Tax attributable to revaluations | - | - | - | -2 | -2 | -4 |
| Translation difference | - | - | -485 | - | - | -485 |
| Total comprehensive income | - | - | -485 | 8 | 191 | -286 |
| Closing balance, 31 Mar 2025 | 2 | 5 286 | 138 | -7 | 1 896 | 7 314 |
Condensed consolidated statement of cash flow
| Amounts in MSEK | Q1 2025 | Q1 2024 |
|---|---|---|
| Operating activities | ||
| Profit before tax | 247 | 178 |
| Depreciation, amortisation, impairment | 97 | 111 |
| Other non-cash items | -5 | 27 |
| Income taxes paid | -44 | -42 |
| Cashflow before change in working capital | 295 | 273 |
| Change in working capital | ||
| Change in inventory | -57 | 0 |
| Change in contract assets | 18 | -3 |
| Change in current receivables | -84 | -64 |
| Change in current liabilities | 2 | 8 |
| Cash flow from change in working capital | -120 | -60 |
| Cash flow from operating activities | 175 | 214 |
| Investing activities | ||
| Acquisition of subsidiaries, net of cash acquired* | -28 | 0 |
| Purchase of intangible assets | -3 | -1 |
| Purchase of property, plant and equipment | -44 | -19 |
| Disposal of property, plant and equipment | 77 | - |
| Net change in short term financial investments | -23 | 2 |
| Cash flow from investing activities | -21 | -18 |
| Financing activities | ||
| Proceeds from borrowings | 0 | 0 |
| Repayment of borrowings | 0 | -202 |
| Repayment of lease liability | -33 | -31 |
| Cash flow from financing activities | -33 | -233 |
| Net change in cash and cash equivalents | 121 | -37 |
| Cash & cash equivalents at beginning of period | 1 095 | 739 |
| Exchange rate differences in cash and cash equivalents | -102 | 27 |
| Cash & cash equivalents at end of period | 1 114 | 728 |
*Relates to contingent considerations for previous acquisition
Key figures
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| KEY FIGURES MSEK | Q1 | Q4 | Q3 | Q2 | Q1 |
| INCOME STATEMENT ITEMS (MSEK) | |||||
| Order intake* | 2 005 | 1 837 | 1 592 | 1 789 | 1 729 |
| Revenue | 1 732 | 1 817 | 1 742 | 1 806 | 1 736 |
| EBITDA* | 389 | 375 | 372 | 366 | 339 |
| EBITA adj* | 300 | 320 | 310 | 307 | 285 |
| EBITA adj %* | 17.3% | 17.6% | 17.8% | 17.0% | 16.4% |
| EBITA* | 328 | 314 | 308 | 296 | 281 |
| EBIT | 292 | 263 | 261 | 247 | 228 |
| Result for the period | 184 | 194 | 155 | 143 | 131 |
| Items affecting comparability* | 28 | -6 | -2 | -11 | -4 |
| Total comprehensive income, MSEK | -286 | 409 | 29 | 69 | 394 |
| BALANCE SHEET ITEMS (MSEK) | |||||
| Total assets | 13 653 | 14 317 | 13 935 | 14 148 | 14 208 |
| Capital employed* | 9 692 | 10 200 | 10 153 | 10 361 | 10 443 |
| Equity | 7 314 | 7 600 | 7 191 | 7 162 | 7 349 |
| Net debt* | 2 378 | 2 599 | 2 963 | 3 198 | 3 094 |
| Goodwill and intangible assets | 8 034 | 8 545 | 8 387 | 8 538 | 8 674 |
| Capital employed, excluding goodwill* | 3 917 | 4 091 | 4 200 | 4 326 | 4 353 |
| Working capital* | 1 702 | 1 581 | 1 718 | 1 736 | 1 815 |
| Cash and cash equivalents | 1 114 | 1 095 | 805 | 755 | 728 |
| CASH FLOW ITEMS (MSEK) | |||||
| Cash flow from working capital | -120 | 256 | -36 | -61 | -60 |
| Cash flow from operating activities | 175 | 506 | 265 | 164 | 214 |
| Cash flow for the period | 121 | 270 | 62 | 38 | -37 |
| Depreciation | -61 | -61 | -63 | -69 | -58 |
| Amortisation | -36 | -51 | -48 | -49 | -53 |
| -4 | 0 | -1 | |||
| Purchase of intangible fixed assets Purchase of property, plant and equipment |
-3 -44 |
-60 | -12 | -29 | -1 -19 |
| Rolling 12 Months | |||||
| Order intake* | 7 223 | 6 947 | 6 807 | 6 893 | 6 886 |
| Revenue | 7 096 | 7 099 | 7 121 | 7 110 | 7 088 |
| EBITDA* | 1 501 | 1 451 | 1 397 | 1 395 | 1 372 |
| EBITA adj* | 1 236 | 1 221 | 1 190 | 1 159 | 1 146 |
| EBITA adj %* | 17.4% | 17.2% | 16.7% | 16.3% | 16.2% |
| EBITA* | 1 245 | 1 198 | 1 143 | 1 148 | 1 140 |
| EBIT | 1 062 | 998 | 939 | 935 | 924 |
| Result for the period | 676 | 623 | 550 | 536 | 522 |
| Items affecting comparability* | 9 | -23 | -47 | -11 | -6 |
| Total comprehensive income | 259 | 901 | 231 | 234 | 625 |
| Cash flow from operating activities | 1 110 | 1 149 | 1 006 | 1 131 | 1 173 |
| Cash flow for the period | 490 | 332 | 143 | 68 | -13 |
Key figures (cont)
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Q1 | Q4 | Q3 | Q2 | Q1 | |
| GROWTH (Year-Over-Year) | |||||
| Order intake*, total % | 15.9% | 8.3% | -5.1% | 0.4% | -7.5% |
| Order intake*, organic % | 15.7% | 7.7% | -1.8% | -0.2% | -7.1% |
| Order intake*, acquisitions % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Revenue, total % | -0.2% | -1.2% | 0.7% | 1.2% | -0.5% |
| Revenue, organic % | -0.4% | -1.8% | 4.1% | 0.7% | -0.4% |
| Revenue, acquisitions % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| FINANCIAL RATIOS | |||||
| Gross margin % | 42.1% | 39.5% | 40.0% | 40.9% | 40.2% |
| EBITDA margin* % | 22.4% | 20.8% | 21.3% | 20.3% | 19.4% |
| EBITA margin* % | 18.9% | 17.4% | 17.7% | 16.4% | 16.2% |
| Operating expenses % of revenue | 25.2% | 25.0% | 25.1% | 27.3% | 27.1% |
| Depreciation and amortisation % of revenue | 5.6% | 6.2% | 6.4% | 6.6% | 6.4% |
| Investments % of revenue | 2.7% | 3.1% | 0.7% | 1.7% | 1.1% |
| Equity ratio* % | 53.6% | 53.1% | 51.6% | 50.6% | 51.7% |
| Return on equity* % | 9.2% | 8.2% | 7.6% | 7.4% | 7.3% |
| Return on capital employed* % | 10.4% | 9.7% | 9.1% | 8.9% | 8.8% |
| Return on capital employed, excluding goodwill* % | 25.4% | 23.6% | 21.7% | 21.0% | 20.5% |
| Net debt/EBITDA, ratio* | 1.58 | 1.79 | 2.12 | 2.29 | 2.25 |
| Interest coverage ratio*, times | 6.8 | 5.6 | 4.3 | 3.5 | 3.4 |
| SHARE RATIOS (SEK) | |||||
| Basic average shares outstanding, thousands | 105 831 | 105 831 | 105 831 | 105 831 | 105 831 |
| Diluted average shares outstanding, thousands | 106 393 | 106 300 | 106 249 | 106 228 | 106 089 |
| Dividend per share | 2.50 | ||||
| Earnings per share, before dilution, SEK | - 1.74 |
- 1.83 |
- 1.46 |
1.35 | - 1.24 |
| Earnings per share, after dilution, SEK | 1.73 | 1.83 | 1.46 | 1.34 | 1.24 |
| Earnings per share adj*, before dilution, SEK | 1.79 | 2.21 | 1.79 | 1.81 | 1.66 |
| Earnings per share adj*, after dilution, SEK | 1.78 | 2.20 | 1.79 | 1.80 | 1.66 |
| Equity per share* | 69.11 | 70.65 | 66.85 | 66.58 | 68.32 |
| Cash flow per share* | 1.14 | 2.51 | 0.57 | 0.35 | -0.34 |
| OTHER | |||||
| Number of Employees - Full Time Equivalent | 2 928 | 2 956 | 2 968 | 2 959 | 2 954 |
Historical quarterly data 2023 – 2025
| 2025 2024 |
2023 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Amounts in MSEK | Q1 | Q4 | Q3 | Q2 | Q1 | Q4 | Q3 | Q2 | Q1 | |
| Order Intake* | ||||||||||
| Facade Access | 496 | 480 | 453 | 364 | 423 | 512 | 376 | 433 | 493 | |
| Construction | 490 | 468 | 350 | 454 | 484 | 319 | 489 | 476 | 469 | |
| Height Safety & Productivity Solutions | 382 | 336 | 312 | 352 | 336 | 357 | 351 | 350 | 350 | |
| Industrial | 432 | 436 | 342 | 442 | 328 | 384 | 328 | 373 | 372 | |
| Wind | 217 | 132 | 161 | 202 | 175 | 141 | 152 | 187 | 208 | |
| Interdivision elimination | -12 | -16 | -26 | -24 | -18 | -18 | -18 | -37 | -21 | |
| Total | 2 005 | 1 837 | 1 592 | 1 789 | 1 729 | 1 696 | 1 678 | 1 782 | 1 870 | |
| Revenue | ||||||||||
| Facade Access | 482 | 526 | 479 | 496 | 485 | 505 | 507 | 495 | 485 | |
| Construction | 413 | 401 | 427 | 426 | 371 | 440 | 440 | 402 | 467 | |
| Height Safety & Productivity Solutions | 349 | 317 | 335 | 354 | 354 | 349 | 326 | 373 | 362 | |
| Industrial | 354 | 422 | 354 | 362 | 397 | 404 | 331 | 339 | 311 | |
| Wind | 153 | 166 | 180 | 194 | 153 | 166 | 169 | 188 | 151 | |
| Interdivision elimination | -18 | -14 | -34 | -27 | -24 | -26 | -42 | -13 | -32 | |
| Total | 1 732 | 1 817 | 1 742 | 1 806 | 1 736 | 1 838 | 1 730 | 1 784 | 1 745 | |
| EBITA* | ||||||||||
| Facade Access | 46 | 82 | 55 | 50 | 46 | 30 | 40 | 26 | 29 | |
| Construction | 66 | 44 | 74 | 71 | 39 | 76 | 82 | 71 | 86 | |
| Height Safety & Productivity Solutions | 70 | 56 | 64 | 69 | 61 | 64 | 51 | 79 | 75 | |
| Industrial | 90 | 108 | 81 | 82 | 106 | 95 | 73 | 81 | 74 | |
| Wind | 28 | 29 | 35 | 39 | 30 | 25 | 33 | 38 | 25 | |
| Items affecting comparability | 28 | -6 | -2 | -11 | -4 | -31 | 34 | -6 | -3 | |
| Total | 328 | 314 | 308 | 296 | 281 | 258 | 312 | 288 | 286 | |
| EBIT | ||||||||||
| Facade Access | 36 | 60 | 35 | 28 | 22 | 8 | 18 | 7 | 18 | |
| Construction | 60 | 38 | 68 | 64 | 32 | 69 | 75 | 63 | 80 | |
| Height Safety & Productivity Solutions | 51 | 36 | 44 | 49 | 42 | 46 | 31 | 58 | 61 | |
| Industrial | 89 | 108 | 81 | 82 | 105 | 94 | 72 | 81 | 73 | |
| Wind | 27 | 28 | 34 | 37 | 27 | 18 | 26 | 32 | 19 | |
| Items affecting comparability* | 28 | -6 | -2 | -11 | -4 | -31 | 34 | -4 | -3 | |
| Total | 292 | 263 | 260 | 247 | 228 | 205 | 256 | 236 | 248 |
Alternative performance measures Bridge
| In MSEK | Q1 2025 | Q1 2024 | |
|---|---|---|---|
| EBIT | 292 | 228 | |
| Add back: | |||
| Amortisation | 36 | 53 | |
| EBITA* | 328 | 281 | |
| Add back: | |||
| Depreciation | 61 | 58 | |
| EBITDA* | 389 | 339 | |
| EBITA* Add back: |
328 | 281 | |
| Items affecting comparability | -28 | 4 | |
| EBITA adj* | 300 | 285 |
EBITA*, EBITDA* and EBITA adj*
Earnings per share adjusted*
| In MSEK | Q1 2025 | Q1 2025 |
|---|---|---|
| Net profit | 184 | 131 |
| Add back: | ||
| Items affecting comparability | -28 | 4 |
| Acquisition related amortisation | 34 | 53 |
| Tax effect | -1 | -12 |
| Net profit adj. | 189 | 176 |
| Basic average shares outstanding, thousands | 105 831 | 105 831 |
| Diluted average shares outstanding, thousands | 106 393 | 106 089 |
| Earnings per share adj*, before dilution, SEK | 1.79 | 1.66 |
| Earnings per share adj*, after dilution, SEK | 1.78 | 1.66 |
Net debt* and Capital Employed*
| 31 Dec 2024 | 31 Mar 2025 | 31 Mar 2024 | 31 Dec 2024 |
|---|---|---|---|
| Non-current interest bearing debts | 3 241 | 3 510 | 3 430 |
| Current interest bearing debts | 0 | 30 | 0 |
| Non-current lease liability | 201 | 213 | 197 |
| Current lease liability | 111 | 102 | 113 |
| Deduct: | |||
| Long term interest bearing receivables | 0 | 0 | 0 |
| Short term interest bearing receivables | 60 | 31 | 45 |
| Cash and cash equivalents | 1 114 | 728 | 1 095 |
| Net debt* | 2 378 | 3 094 | 2 599 |
| Add: | |||
| Shareholders equity | 7 314 | 7 349 | 7 600 |
| Capital Employed* | 9 692 | 10 443 | 10 199 |
Parent company condensed income statement
| Amounts in MSEK | Q1 2025 | Q1 2024 |
|---|---|---|
| Revenue | 4 | 1 |
| Operating expenses | -14 | -5 |
| Operating profit/loss (EBIT) | -11 | -4 |
| Financial Net* | 9 | 16 |
| Profit/loss before tax (EBT) | -2 | 12 |
| Income tax | 0 | -2 |
| Result for the period | -2 | 9 |
* From the second quarter 2024 financial income and expenses are presented on a net basis.
Parent company condensed balance sheet
| Amounts in MSEK | 31 Mar 2025 | 31 Mar 2024 | 31 Dec 2024 |
|---|---|---|---|
| Non-current assets | |||
| Shares in group companies | 5 199 | 5 198 | 5 198 |
| Non-current receivables from group companies | 3 255 | 3 458 | 3 446 |
| Other non-current assets | 37 | 40 | 41 |
| Total non-current assets | 8 491 | 8 696 | 8 686 |
| Current assets | |||
| Receivables from group companies | 195 | 927 | 287 |
| Other short term receivables | 15 | 19 | 28 |
| Cash and cash equivalents | 475 | 10 | 398 |
| Total current assets | 684 | 956 | 714 |
| TOTAL ASSETS | 9 175 | 9 652 | 9 399 |
| EQUITY AND LIABILITIES | |||
| Restricted Equity | 202 | 202 | 202 |
| Unrestricted Equity | 5 565 | 5 825 | 5 567 |
| Untaxed reserves | 104 | 101 | 104 |
| Non-current liabilities, interest bearing | 3 255 | 3 458 | 3 446 |
| Liabilities to group companies | 0 | 0 | 18 |
| Other current liabilities | 49 | 66 | 63 |
| TOTAL EQUITY AND LIABILITIES | 9 175 | 9 652 | 9 399 |
Notes
NOTE 1. ACCOUNTING POLICIES
This interim report was prepared in accordance with IAS 34, Interim Financial Reporting. The same accounting and valuation policies were applied as in the most recent annual report except for new and revised standards and interpretations effective from 1 January 2025. Non-IFRS measures are also presented in the report since they are considered to be important supplemental measures of the Alimak Group's performance. The definition of these can be found on page 23 of this report and a bridge from IFRS measures into non-IFRS measures is found on page 17 of this report.
Alimak Group AB is the Parent Company of Alimak Group. The Interim Report for the parent company has been prepared in accordance with the Annual Accounts Act and with the standard RFR 2 Accounting for Legal Entities, issued by the Swedish Corporate Reporting Board. The same accounting policies and calculation methods are applied in the interim financial statements as in the most recent Annual Report.
A detailed description of the Group's risks and uncertainties can be found in the Annual Report. There are no significant changes in risks since the Annual Report for 2024 was published on 21 March 2025.
All items are stated in MSEK without decimals and, therefore, rounding differences can occur. Historic periods have been adjusted accordingly.
Alimak Group AB
Interim Report Q1 January - March 2025
NOTE 2. REVENUE SPLIT
| Amounts in MSEK | Q1 2025 | Q1 2024 |
|---|---|---|
| Regions | ||
| EMEA | 844 | 888 |
| APAC | 301 | 285 |
| Americas | 587 | 563 |
| Total | 1 732 | 1 736 |
| Equipment | ||
| Facade Access | 298 | 298 |
| Construction | 268 | 224 |
| Height Safety & Productivity Solutions | 304 | 316 |
| Industrial | 136 | 190 |
| Wind | 97 | 103 |
| Interdivision elimination | -15 | -16 |
| Total Equipment | 1 089 | 1 115 |
| Service | ||
| Facade Access | 183 | 186 |
| Construction | 144 | 148 |
| Height Safety & Productivity Solutions | 45 | 37 |
| Industrial | 218 | 207 |
| Wind | 55 | 50 |
| Interdivision elimination | -4 | -8 |
| Total Service | 643 | 621 |
| Total | 1 732 | 1 736 |
| Over time | ||
| Facade Access | 298 | 298 |
| Construction | 70 | 77 |
| Height Safety & Productivity Solutions | - | - |
| Industrial | 2 | 24 |
| Wind | - | - |
| Total over time | 370 | 399 |
| Point in time | ||
| Facade Access | 183 | 186 |
| Construction | 343 | 294 |
| Height Safety & Productivity Solutions | 349 | 354 |
| Industrial | 352 | 373 |
| Wind | 153 | 153 |
| Interdivision elimination | -18 | -24 |
| Total point in time | 1 362 | 1 337 |
| Total | 1 732 | 1 736 |
Alimak Group AB
Interim Report Q1 January - March 2025
NOTE 3. SEGMENT REPORTING
| Amounts in MSEK | Facade Access |
Construction | HS&PS | Industrial | Wind | Elimination and Other |
Total, Group |
|---|---|---|---|---|---|---|---|
| External customers | 477 | 412 | 337 | 354 | 152 | - | 1 732 |
| Inter-Division | 5 | 1 | 12 | 0 | 0 | -18 | - |
| Total revenue | 482 | 413 | 349 | 354 | 153 | -18 | 1 732 |
| EBITA* | 46 | 66 | 70 | 90 | 28 | 29 | 328 |
| EBITA* % | 9.5% | 16.1% | 20.0% | 25.3% | 18.2% | - | 18.9% |
| Amortisation | -10 | -6 | -19 | 0 | -1 | 0 | -36 |
| Operating profit (EBIT) | 36 | 60 | 51 | 89 | 27 | 28 | 292 |
| Financial Net | - | - | - | - | - | -44 | -44 |
| Profit before Tax(EBT) | 36 | 60 | 51 | 89 | 27 | -16 | 247 |
| Trade receivables | 381 | 276 | 252 | 247 | 121 | 0 | 1 276 |
| Inventories & Contract Assets | 419 | 453 | 332 | 201 | 99 | - | 1 504 |
| Trade payables | -125 | -107 | -65 | -60 | -41 | 0 | -398 |
| Other receivables/liabilities | -366 | -89 | -101 | -99 | -26 | 2 | -679 |
| Working capital | 309 | 533 | 418 | 288 | 152 | 2 | 1 702 |
| Investments | 4 | 37 | 3 | 2 | 1 | 0 | 47 |
| Amounts in MSEK | Facade Access |
Construction | HS&PS | Industrial | Wind | Elimination and Other |
Total, Group |
|---|---|---|---|---|---|---|---|
| External customers | 482 | 369 | 335 | 397 | 153 | - | 1 736 |
| Inter-Division | 2 | 3 | 19 | - | - | -24 | - |
| Total revenue | 485 | 371 | 354 | 397 | 153 | -24 | 1 736 |
| EBITA* | 46 | 39 | 61 | 106 | 30 | -4 | 281 |
| EBITA* % | 9.5% | 10.4% | 17.4% | 26.6% | 19.8% | - | 16.2% |
| Amortisation | -24 | -7 | -19 | -1 | -3 | - | -53 |
| Operating profit (EBIT) | 22 | 32 | 42 | 105 | 27 | -4 | 228 |
| Financial Net | - | - | - | - | - | -50 | -50 |
| Profit before Tax(EBT) | 22 | 32 | 42 | 105 | 27 | -51 | 178 |
| Trade receivables | 390 | 299 | 276 | 288 | 126 | - | 1 379 |
| Inventories & Contract Assets | 467 | 468 | 313 | 239 | 103 | 0 | 1 589 |
| Trade payables | -161 | -95 | -72 | -70 | -56 | -1 | -455 |
| Other receivables/liabilities | -346 | -132 | -84 | -96 | -26 | -2 | -698 |
| Working capital | 350 | 540 | 433 | 362 | 147 | -3 | 1 815 |
| Investments | 2 | 11 | 1 | 2 | 1 | 4 | 20 |
*Alternative performance measure, see Definitions
Q1 2024
Q1 2025
Interim Report Q1 January - March 2025
NOTE 4. FINANCIAL INSTRUMENTS
| Total carrying amount | |||
|---|---|---|---|
| 31 Mar 2025 | 31 Mar 2024 | 31 Dec 2024 | |
| 22 | 1 | 4 | |
| 1 660 | 1 805 | 1 709 | |
| 1 114 | 728 | 1 095 | |
| 2 796 | 2 535 | 2 807 | |
| 6 | 10 | 8 | |
| 3 241 | 3 539 | 3 430 | |
| 1 127 | 1 228 | 1 229 | |
| 4 373 | 4 778 | 4 667 | |
The interest rate on interest-bearing liabilities are in line with market terms at March 31, 2025, and the fair value at the end of the reporting period therefore in all material aspects corresponds to the carrying amount.
| FINANCIAL ASSETS AND LIABILITIES AT FAIR VALUE | ||||||
|---|---|---|---|---|---|---|
| 31 Mar 2025 | Level 2 | Level 3 | ||||
| Financial assets | ||||||
| Other financial receivables | - | 11 | ||||
| Currency derivatives | 22 | - | ||||
| Total | 22 | 11 | ||||
| Financial liabilities | ||||||
| Currency derivatives | 6 | - | ||||
| Total | 6 | 0 | ||||
| 31 Mar 2024 | Level 2 | Level 3 | ||||
| Financial assets | ||||||
| Currency derivatives | 1 | - | ||||
| Total | 1 | - | ||||
| Financial liabilities | ||||||
| Currency derivatives | 10 | - | ||||
| Other long term liabilities | - | 39 | ||||
| Total | 10 | 39 |
Level 1 - quoted prices in active markets for identical financial instruments
Level 2 - inputs other than quoted prices included in level 1 that are observable for the financial instrument, either directly (i.e., as prices) or indirect (i.e., derived from prices)
Level 3 – inputs for the financial instrument that are not based on observable market data (unobservable inputs)
Currency derivatives are valued at fair value by discounting the difference between the contracted forward rate and the rate that can be subscribed for on the balance sheet date for the remaining contract term.
The Other financial receivables was related to investment in financial instrument and was calculated according to fair value.
The financial liability for Tall Crane earnout was paid in the first quarter.
There were no transfers between Level 2 and Level 3 fair value measurements during the period.
NOTE 5. ACQUISITIONS
No material acquisitions have been carried out during 2025.
NOTE 6. ASSETS PLEDGED AND CONTINGENT LIABILITIES
As of 31 March 2025, the maximum potential future payments Alimak Group could be required to make under issued financial guarantees totalled MSEK 626 (31 March 2024, MSEK 799) of which MSEK 626 (31 March 2024, MSEK 799) refers to indemnity bonds for commitments to customers. Assets pledged totalled MSEK 38 (31 March 2024, MSEK 37).
Alimak Group AB
Interim Report Q1 January - March 2025
DEFINITIONS
Alimak Group presents certain financial measures that are not defined in the interim report in accordance with IFRS. Alimak Group believes that these measures provide useful supplemental information to investors and the company's management when they allow evaluation of trends and the company's performance. As not all companies calculate the financial measures in the same way, these are not always comparable to measures used by other companies. These financial measures should not be seen as a substitute for measures defined under IFRS.
Rolling 12-month (R12M)
Numbers for the last 12 months measured backwards from the reporting period.
Average number of shares
Weighted average number of shares outstanding during the period, plus potential additional shares.
Earnings per share
Earnings after tax in relation to the average number of shares basic and diluted in accordance with IAS33.
EBITA
Operating profit before amortisation of intangible assets.
EBITA adj
Operating profit before amortisation of intangible assets. Items affecting comparability are added back.
EBITA adj %
EBITA adj in relation to net revenue.
EBITDA
Operating profit before depreciation and amortisation of property, plant and equipment and intangible assets.
Equity/assets ratio
Shareholders' equity as a percentage of total assets.
Equity per share
Shareholders' equity in relation to the number of basic shares outstanding at the end of the period.
Net debt
.
Interest bearing liabilities minus cash and cash equivalents.
Interest coverage ratio
EBIT in relation to interest expenses.
Items affecting comparability (IAC)
Items of a non-recurring character such as acquisition related costs, restructuring costs and other items that have a major impact on the financial statements and are of significance to an understanding of the earnings trend. Adjusting for items affecting comparability between periods provides a better understanding of the company's underlying operating activities.
Net Profit adj
Net profit excluding items affecting comparability and acquisition related amortization, net of tax.
Earnings per share adj
Net profit excluding items affecting comparability and acquisition related amortization, net of tax, in relation to the average number of shares before dilution in accordance with IAS33.
Net debt/EBITDA ratio
Interest-bearing liabilities net (excluding shareholder loans) and assets, plus cash and cash equivalents.
Net debt/equity ratio
Net debt in relation to shareholders' equity.
Organic growth
Growth adjusted for acquisitions/divestments and currency effects.
Operating margin (EBIT %)
Operating profit (EBIT), as a percentage of revenue during the period.
Operating profit (EBIT)
Profit before financial items and tax.
Order intake
All orders where contracts have been signed and confirmed during the relevant accounting period. Order intake generally cannot be used to accurately predict future revenues or operating performance. Orders can be cancelled, delayed or modified by the customer. Cancelled orders affect the reported order intake if cancellation takes place during the year in which the order was booked.
Return on capital employed
Operating profit (EBIT), rolling 12-month amount, as a percentage of average capital employed. Capital employed is the sum of net debt plus shareholders' equity plus shareholder loans. Average capital employed is calculated as the average of the balances at 1 April, 30 June, 30 September, 31 December and 31 March.
Return on equity
Profit after tax for the period, rolling 12-month amount, as a percentage of the average shareholders' equity excluding non controlling interest shares
Interim Report Q1 January - March 2025
Stockholm, 24 April 2025
Alimak Group AB (publ) corporate identity number 556714-1857
Ole Kristian Jødahl
Board Member
President and CEO
This interim report has not been reviewed by the company's auditors.
FINANCIAL CALENDAR
- ⎯ The Annual General Meeting will be held 30 April 2025
- ⎯ The Interim Report for the second quarter of 2025 will be published 18 July 2025
- ⎯ The Interim Report for the third quarter of 2025 will be published 23 October 2025
Alimak Group's financial calendar is available athttps://corporate.alimakgroup.com/en/investors/
TELEPHONE CONFERENCE/PRESENTATION
A conference for investors, analysts and financial media will be held at 10.00 CEST on 24 April. CEO Ole Kristian Jødahl and CFO Sylvain Grange will present and comment on the report. The presentation, held in English, can also be followed via webcast.
If you wish to participate via webcast, please use the link below. Via the webcast you will be able to ask written questions.
https://alimak-group.events.inderes.com/q1-report-2025
If you wish to participate via teleconference, please register on the link below. After registration you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://events.inderes.com/alimak-group/q1-report-2025/dial-in
For further information, please contact:
Sylvain Grange, CFO Email: [email protected] or [email protected]
This information is information that Alimak Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CEST on 24 April 2025.
About Alimak Group
Alimak Group is a global provider of sustainable vertical access and working at height solutions, listed on Nasdaq Stockholm. With presence in more than 120 countries, the Group develops, manufactures, sells and services vertical access and working at height solutions with focus on adding customer value through enhanced safety, higher productivity and improved cost efficiency. The Group has a large installed base of elevators, service lifts, temporary and permanent hoists and platforms and building maintenance units around the world. The solutions portfolio also comprises of height safety protective equipment, load measurement & control, lifting & handling, and a global after-sales business model, with recurring revenue from spare parts and services such as inspection, certification, maintenance, refurbishments, replacements and training. Founded in Sweden 1948, the Group has its headquarters in Stockholm, 26 production and assembly facilities in 15 countries and approximately 3,000 employees.
https://corporate.alimakgroup.com/en/
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