P R E S S R E L E A S E
Stockholm, August 18, 2023
Cautious market leading to flat revenue and lower margins
January 1 - June 30, 2023
- Net sales amounted to MSEK 1,282 (1,188). Adjusted for changes in foreign exchange rates, net sales increased 1 percent.
- EBITA decreased 9 percent to MSEK 153 (168).
- The EBITA margin was 12.0 (14.2) percent.
- Profit after tax decreased 13 percent to MSEK 83 (96).
- Earnings per share decreased 13 percent to SEK 4.30 (4.97).
Second quarter 2023
- Net sales amounted to MSEK 703 (664). Adjusted for changes in foreign exchange rates, the revenue growth was flat.
- EBITA decreased 5 percent to MSEK 106 (112).
- The EBITA margin was 15.1 (16.8) percent.
- Profit after tax decreased 10 percent to MSEK 61 (68).
- Earnings per share decreased 10 percent to SEK 3.14 (3.49).
Downgraded outlook for 2023
The result is expected to be in line with the preceding year, which deviates from the previous report, when the result was expected to be better than the preceding year.
CEO comments, Jessica Skon
"The workforce planning and efficiency initiatives started in the first quarter in BTS North America and BTS Other markets are starting to take effect. While we expect full realization of value in the third and fourth quarters, BTS Other markets was able to increase profit during the second quarter despite slow revenue growth."
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 and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CEST on August 18, 2023.
About BTS Group AB
BTS is a global professional services firm headquartered in Stockholm, Sweden, with about 1,200 professionals in 37 offices located on six continents. For over 30 years, we've been partnering with our clients to enable strategy execution. At BTS, we believe that success comes from people understanding how their daily work impacts business results, so we provide the skills, tools, and knowledge your people need to take the right action at the right moment.
We are experts in behavior change and care deeply about both delivering results for our clients and ensuring that their people do the best work of their lives. Our engagements range from embedded multi-year transformation projects to brief, targeted capability development.
It's strategy made personal.
Our primary practice areas include Change and transformation, Leadership development and Sales and marketing. In support of offerings from our primary practice areas, we have centers of excellence in Assessments for talent selection and development, Business acumen and innovation skill-building and Coaching as a practical tool to shift mindsets and turn strategy into action.
We've partnered with over 1,200 organizations, including over 40 of the world's 100 largest global corporations. Our major clients are some of the most respected names in business: Salesforce, SAP, Abbott, Tetra Pak, EY, Tencent, Vale, and BHP.
BTS is a public company listed on the Nasdaq Stockholm and trades under the symbol BTS B.
For more information, please visit www.bts.com.
