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Interim report for BEWiSynbra Group for the period January to December 2018
Highlights from the report
Numbers in parentheses refers to the corresponding period in the previous year.
Fourth quarter 2018
- BEWiSynbra Group reported net sales of SEK 1,220 million (SEK 528 million), an increase of 131 per cent since the same period of 2017 of which 146 percentage points (pp) was explained by acquisitions
- Adjusted EBITDA was SEK 101 million for the fourth quarter of 2018 (SEK 32 million)
- The earnings were negatively impacted by items affecting comparability of SEK 20 million for the quarter, mainly related to the planned IPO and transactions
- EBIT for the Group was SEK 19 million for the fourth quarter (SEK -1 million)
- In November, the Group announced its intention to launch an IPO and apply for a listing at Oslo Børs. The process was postponed due to deteriorating financial markets characterized by high uncertainty
Full year 2018
- In 2018, the Group reported net sales of SEK 3,905 million (SEK 1,876 million), an increase of 108 per cent since 2017, whereof 98 pp relate to acquisitions
- Adjusted EBITDA was SEK 317 million in 2018 (SEK 110 million)
- The earnings were negatively impacted by items affecting comparability of SEK 24 million in 2018
- EBIT for the Group was SEK 141 million for the full year of 2018 (SEK 35 million)
- During 2018, BEWiSynbra Group completed several acquisitions, the largest being the acquisition of Synbra Holding B.V. in May
Pro forma financials
Following the completion of several acquisitions in 2017 and 2018, BEWiSynbra Group had net sales (pro forma) of SEK 1,220 million and SEK 4,984 million in the fourth quarter and full year of 2018 respectively (SEK 1,175 million and SEK 4,278 million). All segments contribute to the increase and all geographies, except for Sweden, are demonstrating growth.
Adjusted EBITDA was SEK 101 million for the fourth quarter (SEK 123 million) and SEK 489 million for the full year (SEK 431 million). The decrease for the quarter is mainly explained by the segment RAW, which is negatively affected by normal fluctuations in the margins.
Please see the full interim report for the period January – December 2018 attached.
For further information, please contact:
Charlotte Knudsen, Director of IR and Communications, BEWiSynbra Group AB, tel: +47 9756 1959
About BEWiSynbra Group AB
BEWiSynbra Group is one of the largest vertically integrated producers of expandable polystyrene (EPS) in Europe, focusing on sustainable solutions for packaging and components, as well as insulation. Innovation is a key driver for the Group’s competitive advantage and sustainability, and BEWiSynbra has an ambitious approach to its recycling initiatives.
The information is such that BEWiSynbra Group AB (publ) is required to disclose in accordance with 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 27 February 2019.