Interim report October - December 2021

- Quant releases the interim report for October - December 2021.

News provided by

Quant AB

25 Feb, 2022, 07:30 GMT

STOCKHOLM, Sweden., Feb. 25, 2022 /PRNewswire/ --

October-December

  •  Net sales for the quarter increased by 0.5% to EUR 41.9 (41.7) million. Organically, net sales increased by 1.2%
  • During the quarter the contract portfolio value increased by net EUR 10.2 million. Two contracts were won, four contracts were renewed, and no contract was exited or lost. Portfolio run rate annualized net sales at the end of the quarter was EUR 172.8 million, compared to EUR 162.6 million during the third quarter of 2021.
  • Operating loss amounted to EUR -1.6 million, compared to a loss of EUR -1.5 million prior year.
  • Adjusted EBITDA amounted to EUR 0.7 million compared to EUR 1.1 million prior year, excluding the effect of implemen­tation of IFRS 16 Leases. In constant currencies, Adjusted EBITDA for the quarter was EUR 0.7 (1.1) million. Adjusted EBITDA with IFRS 16 implementation was EUR 1.3 (1.8) million
  • Cash flow from operating activities amounted to EUR 2.4 (0.4) million, of which change in working capital amounted to EUR 3.1 (0.7) million
  • Net loss for the continuing business amounted to EUR -5.6 million compared to a loss of EUR -2.4 million prior year
  •  The Adjusted EBITDA for Discontinued operations was EUR 0.2 (0.2) million and the net profit was EUR 0.2 (1.1) million, which is not included in the reported numbers above.
  • Group net loss for the quarter, including discontinued operations, was EUR -5.5 (-1.4) million

January-December

  • Net sales for the period amounted to EUR 164.4 (163.5) million, an increase compared to prior year. Organically, net sales were flat.
  • Operating loss amounted to EUR -2.8 million, compared to a loss of EUR -3.7 million prior year.
  • Adjusted EBITDA increased to EUR 7.2 million from EUR 7.0 million prior year, excluding the effect of implementation of IFRS 16 Leases. In constant currencies, Adjusted EBITDA would have been EUR 7.3 (7.0) million. Adjusted EBITDA with IFRS 16 implemen­tation was EUR 9.8 (10.5) million
  • Cash flow from operating activities amounted to EUR -1.8 (7.7) million, of which change in working capital amounted to EUR -3.1 (3.2) million
  • Net loss for the continuing business amounted to EUR -15.5 million compared to a loss of EUR –18.1 million prior year
  • The Adjusted EBITDA for Discontinued operations was EUR -0.9 (-0.8) million and the net loss was EUR -7.4 (-0.3) million, which is not included in the reported numbers above
  • Group net loss for the period, including discontinued operations, was EUR -22.9 (-18.4) million

Events during the quarter

On 8 February 2022 it was announced that Quant had signed a renewal of an existing Total Maintenance Partnership with Metsä Wood, into an evergreen contract which cover industrial maintenance on five production sites in Finland and Estonia. The agreement renewal contains scope changes beneficial to both parties, which increase Quant's contract portfolio by EUR 2 million in the first quarter of 2022.

Telephone conference 

A telephone conference where management comment on the report is held at 10:00 CET on February 25th, 2022. Details for participation by telephone are found ahead of the call on www.quantservice.com/investor

Stockholm, 25 February 2022

Quant AB (publ) 

For further information, please contact:
Tomas Rönn, CEO: +46 720 92 11 20
André Strömgren, CFO: +46 708 410 796 
E-mail: ir@quantservice.com

Quant AB (publ) is a global leader in industrial maintenance. For over 30 years, we have been realizing the full potential of maintenance for our customers. From embedding superior safety practices and building a true maintenance culture, to optimizing maintenance cost and improving plant performance, our people make the difference. We are passionate about maintenance and proud of ensuring we achieve our customers' goals in the most professional way. The group operates internationally in close to 20 countries world-wide, employing 2,500 people. The parent company is located in Stockholm, Sweden.

Quant AB (publ) is privately held by Nordic Capital since 2014. For additional information about the group, please visit www.quantservice.com.

This information is information that Quant is obliged to make public pursuant to 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 25 February 2022.

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