Results

Q2 Report 2020

Published on 17 July, 2020 at 8:00 AM CET.

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Innovative launches in a quarter burdened by Covid-19 pandemic 

Q2 2020 

  • Order intake amounted to MSEK 948 (1,362), a decrease of 31% 
  •  Order book amounted to MSEK 1,426 (1,393), an increase of 2% 
  • Net sales amounted to MSEK 952 (1,368), a decrease of 30% 
  • EBITA amounted to MSEK 0 (73) and the EBITA margin was 0.0% (5.3)
  • Adjusted EBIT amounted to MSEK –3 (71) and the adjusted EBIT margin was –0.3% (5.2)
  • Net profit for the period amounted to MSEK –71 (24)
  • Earnings per share amounted to SEK –0.75 (0.32)
  • Free cash flow amounted to MSEK 92 (–32), and free cash flow per share amounted to SEK 0.97 (–0.42)

January-June 2020 

  • Order intake amounted to MSEK 2,438 (2,794), a decrease of 13% 
  • Order book amounted to MSEK 1,426 (1,393), an increase of 2% 
  • Net sales amounted to MSEK 2,176 (2,574), a decrease of 15% 
  • EBITA amounted to MSEK 25 (120) and the EBITA margin was 1.2% (4.7)
  • Adjusted EBIT amounted to MSEK 19 (117) and the adjusted EBIT margin was 0.9% (4.5)
  • Net profit for the period amounted to MSEK –76 (31)
  • Earnings per share amounted to SEK –0.80 (0.41)
  • Free cash flow amounted to MSEK 38 (–31), and free cash flow per share amounted to SEK 0.40 (–0.41)
The financial effects of the pandemic have been palpable during the second quarter, and this has been mitigated with a clear cost focus and powerful measures. Gunnebo continues to show stability in the order book, and in the latter part of the quarter, orders- and sales levels were starting to recover. We are seeing a positive trend overall, from low levels, and provided there is no major new wave of the pandemic, we believe we have passed the low point.

During the quarter, H-Sense and OccuLinq have been launched, demonstrating our internal power of innovation and increased focus on digital presence. H-Sense are high-tech security gates with built-in temperature control and OccuLinq uses an app to enable real-time digital customer flow control for the retail sector and is sold as a cloud-based service. As more societies gradually reopen, social distancing and flow control are likely to grow in importance. Our solutions are part of a smooth transition to the new reality faced by existing and new customers.