Year-end report 2019

JANUARY – DECEMBER 2019

• Net sales increased 1 % to SEK 6 064 million (6 031)
• Operating profit amounted to SEK 257 million (230)
• Profit after financial items amounted to SEK 174 million (157)
• Profit after tax amounted to SEK 120 million (97) 
• Earnings per share amounted to SEK 1,17 (0,88)
• Cash flow from operating activities amounted to SEK 353 (500)

Q4 (OCTOBER – DECEMBER)

• Net sales decreased to SEK 1 517 million (1 521)
• Operating profit amounted to SEK -39 million (-7)
• Profit after financial items amounted to SEK -63 million (-28)
• Profit after tax amounted to SEK -58 million (-39) 
• Earnings per share amounted to SEK -0,57 (-0,38)
• Cash flow from operating activities amounted to SEK 193 million (223)

 Net debt incl. lease liability amounted to SEK 1 755 million (2 104) excl. effects by IFRS 16 Leases SEK 2 509 million incl. lease liability.
2019 has been affected by IFRS 16 Leases. For further information, see page 5, as well as Note 1 on page 11.

IMPORTANT EVENTS JANUARY – DECEMBER 2019

• Andréas Elgaard took up the position as CEO and President of ITAB, September 1st.
• Agreements signed, among others, with Circle K, Megamark Group and leading German retail chain.
• 30 % of Ombori Apps AB was aquired in July.
• Repayment of the purchase sum in respect of the acquisition of the D. Lindner companies had in Q1 a positive impact on the Group’s profit after financial items amounting to SEK 42 million. 
• Properties in Sweden and the UK have been sold, which affected earnings after financial items by SEK 42 million in Q2 and by   SEK 2 million in Q4.
• Restructuring costs have affected earnings after financial items by SEK -70 million (-3m in Q1, -6m in Q2, -13m in Q3, -48m i Q4).
• In September ITAB signed a new five-year credit agreement of EUR 200 million with Nordea.
• After year-end ITAB has introduced a new Group structure and extended Group Management. A new CFO and a new COO has been assigned.