Continued growth and a strong increase of profitability
2018 was another year of profitable growth for Assemblin. Net sales increased by 8.8 per cent and the adjusted operating margin increased from 3 per cent to 4.5 per cent.
During 2018, the installation market continued to be strong. The slowing down on the housing market in a number of large cities was, to a great extent, compensated by increased public investments in infrastructure projects, schools and hospitals. Therefore, order intake in 2018 continued on a high level and our order logbook increased by 12 per cent compared to the previous year-end.
- Now, we have reached a level of profitability that feels acceptable, even though we still have some way to go before we reach our long-term goals. During 2018, we have made a great effort with finalising the creation of our common identity and future direction. We enter into 2019 with robust operations and a common road map, with the aim of taking the positive development further, says Mats Johansson, President and CEO of Assemblin.
Significant events 2018
- Net sales increased to SEK 8,885 (8,169) million, corresponding to growth of 8.8 per cent, of which 7.8 was organic.
- Adjusted operating profit (EBITA) increased by 63 per cent and was SEK 399 (245) million. Adjusted EBITA margin increased from 3.0 per cent to 4.5 per cent.
- EBITA was SEK 415 (203) million. Profit after tax was SEK 148 (25) million.
- Order backlog increased by 12 per cent to SEK 6,971 (6 223) million. Order intake was SEK 9,459 (9,899) million.
- During the year, five installation companies were acquired, in Sweden, Norway and Finland. The total annual sales for these amount to SEK 300 million.
- In May, Mats Johansson started as the new CEO.
For more information, please refer to the appendix Yearend Report 2018.
Yearend Report 2018
For questions about the report, please contact Philip Carlsson, CFO: (philip.carlsson@assemblin.se or +46 10 475 39 50). For other questions about the operations or the Company, please contact Mats Johansson, CEO: (mats.e.johansson@assemblin.se or +46 10 475 39 60), or Åsvor Brynnel, Head of Communications and Sustainability: (asvor.brynnel@assemblin.se or +46 10 475 39 48).
About Assemblin
Assemblin is a complete installation and service partner with operations in Sweden, Norway and Finland. We design, install and maintain technical systems for air, water and energy. Our vision is to create smart and sustainable installations that make buildings work and people thrive. Through close and local cooperations, and with a strong organisation behind us, we make it possible.
We have net sales of SEK 8.2 billion and 5,700 engaged employees in about 100 locations in the Nordics. Want to know more? Visit assemblin.se