Nimbus Group AB (publ) increased its sales by 13 percent to MSEK 344 (304) during the first quarter 2024. EBITA amounted to MSEK -14 (8) and the EBITA margin to - 4 percent (2.5). "Temporarily higher inventory levels and production adjustments at EdgeWater are negatively affecting the quarter, whereas the underlying market within the prioritized premium segment continues to develop favorably. Disregarding the adjustment effects, we are able to deliver positive earnings for the quarter despite a continued weakening of the small boat market", says Jan-Erik Lindström, CEO of Nimbus Group.
FIRST QUARTER January-March 2024 | LAST 12 MONTHS |
| Net sales for the first quarter increased 13 percent to MSEK 344 (304) | Net sales totaled MSEK 1,938 up 10 percent year-on-year (1,769) |
| Organic growth totaled 2.4 percent EBITA amounted to MSEK -14 (8) | Organic growth totaled -5.6 percent EBITA amounted to MSEK 79 (194) |
| The EBITA margin was -4.0 percent (2.5) | The EBITA margin was 4.1 percent (11.0) |
| Operating cash flow amounted to MSEK -90 (-122) | Operating cash flow amounted to MSEK 138.6 (-162) |
| The order book by period-end totaled MSEK 789 (953) | Earnings per share amounted to SEK 3.06 (7.49) |
| First quarter | Last 12 months | Full year | |||||
| 2024 | 2023 | % | 2024 | 2023 | % | 2023 | |
| Net sales, MSEK | 343.7 | 304.3 | 13 | 1,937.9 | 1,768.5 | 10 | 1,898.4 |
| Operating result, MSEK | -13.9 | 7.6 | -282 | 77.6 | 193.5 | -60 | 99.1 |
| EBITA, MSEK | -13.7 | 7.7 | -278 | 78.2 | 194.0 | -60 | 99.7 |
| EBITA-margin, % | -4.0% | 2.5% | -6.5 pe | 4.0% | 11.0% | -6.9 pe | 5.2% |
| Result for the period, MSEK | -7.0 | -0.7 | -903 | 38.7 | 145.8 | -70 | 45.0 |
| Operating cash flow, MSEK | -90.3 | -121.7 | 26 | 138.6 | -162.0 | 190 | -153.2 |
| Earnings per share | -0.33 | -0.03 | 883 | 1.82 | 7.49 | -76 | 2.15 |
Link to the report: https://nimbusgroup.se/en/reports-and-presentations/
Analyst conference call: A webcast telephone conference will be held today at 10:00 a.m. during which President and CEO Jan-Erik Lindström will present the report together with CFO Rasmus Alvemyr. The presentation will be followed by a Q&A session. The presentation will be held in English. Anyone wishing to take part in the telephone conference, please register using the following web link:
Call Access (financialhearings.com)
After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
The presentation and conference can also be followed and listened to via the following link:
Nimbus Q1 Report 2024 (financialhearings.com)
About Nimbus Group
Nimbus Group produces and markets powerboats which includes the brands Alukin, Aquador, Bella, EdgeWater, Falcon, Flipper, Nimbus and Paragon Yachts. Sales are made through dealer networks and the largest markets are the Nordic region, Europe and the USA. During 2023, the Group strengthened its position on the important North American market through the acquisition of the premium powerboat manufacturer EdgeWater Power Boats. In 2023, the Group had sales of SEK 1,898 million and 511 employees. Operations are conducted in Sweden, Finland, Poland, England, Norway and the USA.
Nimbus Group has been listed on Nasdaq Stockholm First North since February 2021. For more information, see www.nimbusgroup.se
Certified Adviser
The Company's Certified Adviser is Carnegie Investment Bank AB (publ)
e-mail: certifiedadviser@carnegie.se
For further information, please contact:
Jan-Erik Lindström, CEO
+46 31 726 77 00
jan-erik.lindstrom@nimbus.se
Rasmus Alvemyr, CFO
+46317267708
rasmus.alvemyr@nimbus.se
This information is inside information that Nimbus Group 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 2024-04-26 07:30 CEST.
