4 The year in review The year in review Ahlsell Annual Report 2017 A strong result and a good acquisition rate conclude a successful 2017. We have worked actively to strengthen and expand our range of products and services and invested in our sales channels: online, in the branch network and in the salesforce. The year in review • N et sales increased by 12% to MSEK 27,484 (24,606) • Organic growth was 9% (7) • Eleven acquisitions were completed with combined annual net sales of approximately MSEK 780 • In addition, two acquisitions were signed with annual net sales of approximately MSEK 675 • Adjusted EBITA increased by 13% to MSEK 2,405 (2,131), corresponding to an adjusted EBITA margin of 8.8% (8.7) • The Board of Directors proposes a dividend of SEK 1.65 per share for 2017. This corresponds to 50% of earnings per share. MSEK 30 28 26 24 22 20 18 16 14 Q2 Q3 Q4 % 12 10 8 6 4 2 0 –2 2 Q3 Q4 Net sales, billion SEK 8 30 7 28 6 26 5 24 4 22 3 20 2 18 1 16 0 14 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2015 2016 2017 ¢ Net sales per quarter, BSEK ¢ Net sales RTM, BSEK Margin and organic sales growth % % 12 12 10 10 8 8 6 6 4 4 2 2 0 0 –2 –2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2015 2016 2017 ¢ Organic growth, % ¢ Adjusted EBITA margin, % ¢ EBITA margin, % Q1 Q2 Great start to the year! Net sales increased by 20% during the quarter. Combined, the organic growth and acquisitions accounted for 12%. Compared with the previous year, when Easter fell in the first quarter, this quarter had more trading days, which contributed to 6 percentage points of the net sales growth. All main markets and product segments contributed to the strong growth and for the first time in several years, we saw simultaneous positive economic growth in our main markets. EBITA increased by 33%, which is primarily related to increased volumes. We create clear added value We successfully met the strong demand. Our One-Stop-Shop offering with flexible deliveries and competent advisory services is valued by our customers. Flexibility is particularly valuable when customer and market activity is high. Strong growth and continued good profitability The strong increase in net sales during the quarter was mainly related to organic growth and completed acquisitions. The combined growth for these was 12%. In terms of results, we converted increased net sales into an improved result. We increased net sales by BSEK 1.6 compared with the first half of 2016. This also implied a strong increase in activity in the Company. It was proof of strength that we managed to increase the adjusted EBITA by 15% during the first half-year, whilst carrying out significant initiatives in Norway and Finland. Several new strategic agreements Our focus on a wider offering, full-range branches and strategic growth initiatives in combination with acquisitions, made us even more attractive in the market. This positive development was also apparent as we signed several agreements with new, strategically important customers.
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