Gunnebo Interim Report, April-June 2020: innovative launches in a quarter burdened by Covid-19 pandemic

Second quarter 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,” Stefan Syrén, President & CEO of Gunnebo.

During the quarter, H-Sense and OccuLinq* have been launched, demonstrating our internal power of innovation and increased focus on digital presence. 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,” Stefan Syrén, President & CEO of Gunnebo.

H-Sense, high-tech security gates with built-in temperature control. OccuLinq uses an app to enable real-time digital customer flow control for the retail sector and is sold as a cloud-based service.

Teleconference 17 July at 09.00 (CET)
To participate in the conference call, please dial in on:
Sweden +46 8 505 583 74 

UK +44 33 3300 9263
USA + 1 833 823 0586

Agenda
08.50  Call in
09.00  Presentation of the interim report by Gunnebo’s President & CEO, Stefan Syrén
           and CFO, Åke Bengtsson
09.30  Q&A session
09.40  Closing of the conference 

The presentation will be available when the report has been published on: https://financialhearings.com/event/12953 or www.gunnebogroup.com. You can also access the webcast afterwards via the same channels.

This information is information that Gunnebo AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below, at 08.00 CET on 17 July 2020.  

For more information contact:
Åke Bengtsson, CFO, phone +46(0)10-20 95 081
Isabelle Ljunggren, Director Investor Relations, phone +46(0)10-20 95 099

The Gunnebo Group operates worldwide providing innovative products, software and services to control the flow of valuables, cash and people. Gunnebo offers entrance control, safe storage, cash management and integrated security solutions to customers primarily within retail, mass transit, public & commercial buildings, industrial & high-risk sites and banking. The Group has a turnover of MSEK 5,500 and is listed on NASDAQ Stockholm. www.gunnebogroup.com