Strong order intake and continued confidence from our shareholders
Wästbygg Gruppen AB (publ) presents its interim report for January-March 2025.
"During Q1, we signed new contracts for a total value of SEK 1.3 billion, giving us a strong start to the year. In addition, we received a clear signal of continued confidence from our shareholders when the new share issue we carried out in March was oversubscribed. Combined with the fact that the underlying business reported a surplus in the first quarter, the company is well positioned to deliver positive results going forward", says Patrik Mellgren, CEO Wästbygg Group.
KEY RATIOS ACCORDING TO SEGMENT REPORTING:
1 January - 31 March 2025
- Revenue SEK 1,206 million (942)
- Operating profit SEK -36 million (-47)
- Profit after tax SEK -105 million (-37)
- Earnings per share SEK -3.13 (-1.14)
- Cash flow from operating activities SEK -28 million (5)
- Interest-bearing net cash (+) /
- net debt (-) SEK -368 million (-112)
- Equity ratio 32% (34)
- Order intake SEK 1,328 million (338)
- Order backlog 31 March SEK 4,033 million (5,563)
KEY RATIOS ACCORDING TO SEGMENT REPORTING:
1 January - 31 March 2025
- Revenue SEK 1,203 million (896)
- Operating profit SEK -81 million (-46)
- Profit after tax SEK -105 million (-41)
- Earnings per share SEK -3.14 (-1.27)
- Cash flow from operating activities SEK -29 million (-97)
- Interest-bearing net cash (+) /
- net debt (-) SEK -438 million (-1.318)
- Equity ratio 32% (27)
Comparative figures in parentheses refer to profit items corresponding to the period 2024 and for balance sheet items corresponding to the balance sheet date 2024. As of 2025, the difference between IFRS and segment reporting will be less significant than previously, as the company no longer has any material ongoing production of self-developed tenant-ownership apartments.
SIGNIFICANT EVENTS IN THE FIRST QUARTER
- On February 6, Jonas Jönehall left his position as CEO of Wästbygg Gruppen. Patrik Mellgren took over as acting CEO.
- Torbjörn Nilsarve, CEO of the group company Logistic Contractor, and Lars Just, CFO, took up their positions at the turn of the year. Lars Just chose to resign in February. Niklas Danielsson was recruited as the new CFO and took up his position on March 17. Both Torbjörn Nilsarve and Niklas Danielsson are members of the group management team.
- Joakim Efraimsson, CEO of the group company Wästbygg AB left his assignment and the group management team on March 31. Patrik Mellgren is acting CEO of Wästbygg AB until further notice. Joakim Efraimsson will remain with the company in another role until the summer.
- A letter of intent was issued for the divestment of the project development operations within the group company Wästbygg AB.
- In March, Wästbygg Gruppen carried out a rights issue of approximately SEK 150 million to strengthen the group's liquidity and to support future growth and profitability initiatives. The new share issue was oversubscribed. In connection with the new share issue, both the number of shares and votes in the company increased.
- The Wästbygg Group's Board of Directors has announced that the group's financial target Operating margin will be adjusted to 5 percent over time, due to the group's reduced focus on self-developed residential projects.
For more information, please contact:
Patrik Mellgren, CEO
Phone: +46 72 856 22 00, email: patrik.mellgren@wbgr.se
Niklas Danielsson, CFO
Phone +46 70 626 95 37, email niklas.danielsson@wbgr.se
Robin Sundin, COO
Phone: +46 72 529 30 04, email: robin.sundin@wbgr.se
wbgr.se
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About Wästbygg Group:
The Wästbygg Group is a listed construction and project development company that builds and develops residential, commercial buildings and community service properties, as well as logistics and industrial facilities. The group comprises Wästbygg AB, Rekab Entreprenad AB and Logistic Contractor AB.
The group operates in the most expanding markets in Sweden and within Logistic Contractor also in the neighboring Nordic countries. In 2024, the group had sales of SEK 4.3 billion and 500 employees.
This information is information that Wästbygg Gruppen 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 2025-05-06 08:00 CEST.
