P R E S S R E L E A S E
Stockholm, May 12, 2023
Flat revenue growth (2 percent) in a challenging quarter
January 1 - March 31, 2023
• Net sales amounted to MSEK 579 (524). Adjusted for changes in foreign exchange rates, net sales increased 2 percent, whereof all organic.
• Operating profit (EBITA) decreased 16 percent to MSEK 47 (56).
• Operating margin (EBITA margin) was 8.2 (10.8) percent.
• Profit after tax decreased 21 percent to MSEK 23 (29).
• Earnings per share decreased 21 percent to SEK 1.17 (1.49).
CEO comments, Jessica Skon
"To further reduce costs, we have stopped recruitment since the fourth quarter of 2022 and are implementing additional efficiency programs amounting to annual cost savings of approximately 60 MSEK. The cost benefits are expected to be fully realized in the second half of 2023."
Outlook for 2023
"We believe that earnings will be better than in 2022. However, given the challenging economic environment, our outlook is more uncertain than usual."
For more information, please contact:
Michael Wallin
Head of investor relations
BTS Group AB
michael.wallin@bts.com
+46-58 70 70 02
+46-708-78 80 19
This information is information that BTS 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 person set out above, at 08:00 CET on May 12, 2023.
About BTS Group AB
BTS is a global professional services firm headquartered in Stockholm, Sweden. BTS has about 1,200 professionals in 35 offices located on six continents. BTS competes in both talent and HR consulting as well as the traditional consulting markets. BTS's services support a broad range of client challenges including top-to-bottom and on-demand leadership development, talent selection and readiness, strategy creation and strategy implementation, as well as culture and broad-scale change. For over thirty years, BTS has been focused on the people-side of change and uses proprietary simulation, learning, coaching, and assessment methodologies to power better performance.
We partner with nearly 450 organizations, including over 30 of the world's 100 largest global corporations. Some of our major clients include Astra Zeneca, Chevron, Coca-Cola, EY, HP, Mercado Libre, Mondelez, Salesforce and SAP.
BTS is a public company listed on the Nasdaq Stockholm exchange and trades under the symbol BTS B.
