BTS GROUP AB: Full-year outlook kept despite cautious market and lower margins during the quarter

P R E S S R E L E A S E
Stockholm, November 10, 2023

January 1 - September 30, 2023

• Net sales amounted to MSEK 1,915 (1,805). Adjusted for changes in foreign exchange rates, the revenue growth was flat.
• EBITA decreased 12 percent to MSEK 207 (234).
• The EBITA margin was 10.8 (13.0) percent.
• Profit after tax decreased 20 percent to MSEK 105 (131).
• Earnings per share decreased 20 percent to SEK 5.42 (6.75).

Third quarter 2023

• Net sales amounted to MSEK 633 (617). Adjusted for changes in foreign exchange rates, net sales decreased 1 percent.
• EBITA decreased 19 percent to MSEK 53 (66).
• The EBITA margin was 8.4 (10.7) percent.
• Profit after tax decreased 37 percent to MSEK 22 (34).
• Earnings per share decreased 37 percent to SEK 1.12 (1.78).

Outlook

"We can see that the efficiency measures we implemented earlier in the year are having the intended effect and that they will have full impact as planned in the fourth quarter. We also anticipate improvement in revenue growth in the fourth quarter in North America and in Other markets. All in all, this means that we are keeping our forecast that the result for 2023 is expected to be in line with the outcome 2022".

For more information, please contact:

Michael Wallin
Head of investor relations
BTS Group AB
[e-mail]
[phone]
[phone]

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 06:00 CEST on November 10, 2023.

About BTS Group AB

BTS is a global professional services firm headquartered in Stockholm, Sweden. BTS has about 1,100 professionals in 36 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 ABB, Chevron, Coca-Cola, Ericsson, EY, HP, Mercado Libre, Salesforce, SAP, and Tencent.

BTS is a public company listed on the Nasdaq Stockholm exchange and trades under the symbol BTS B.