Group 
Year-end Report 2023
Press Release from Elanders AB (publ) 2024-01-31
Full year 2023
- Net sales amounted to MSEK 13,867 (14,974), which corresponded to an organic net sales reduction of nine percent, excluding acquisitions and discontinued operations, and using unchanged exchange rates. The reduction is mainly due to lower freight rates and linked to the Group’s Air & Sea freight forwarding operations.
- Adjusted EBITA amounted to MSEK 927 (966), which equaled an adjusted EBITA margin of 6.7 (6.5) percent.
- The period’s reported result included one-off items of MSEK -107 (-26). Most of these referred to errors discovered in one of the Group’s companies in North America, which were corrected in the first quarter. The remaining part referred to a provision during the second quarter for additional consideration for an acquisition that has developed better than expected and in the fourth quarter for acquisitions.
- Adjusted net result amounted to MSEK 349 (499), corresponding to SEK 9.60 (13.63) per share. The reduction is primarily due to higher interest expenses.
- Operating cash flow increased to MSEK 1,338 (1,210). Excluding purchase prices for acquisitions, the operating cash flow increased to MSEK 2,170 (1,254).
- Cash conversion increased to 110 (65) percent, excluding purchase prices for acquisitions.
- The Board proposes a dividend of 4.15 (4.15) kronor per share for 2023.
Fourth quarter 2023
- Net sales amounted to MSEK 3,574 (4,099), which corresponded to an organic net sales reduction of eleven percent, excluding acquisitions and discontinued operations, and using unchanged exchange rates. The reduction is primarily a result of a weaker market and lower freight rates in the Group’s Air & Sea freight forwarding operations.
- Adjusted EBITA amounted to MSEK 289 (331), which equaled an adjusted EBITA margin of 8.1 (8.1) percent.
- The period’s reported result included one-off items of MSEK -25 (-58), which mainly referred to acquisition costs.
- Adjusted net result amounted to MSEK 127 (184), corresponding to SEK 3.41 (5.11) per share.
- Operating cash flow was MSEK -221 (495). Excluding purchase prices for acquisitions, the operating cash flow increased to MSEK 593 (494).
- Cash conversion increased to 104 (92) percent, excluding purchase prices for acquisitions.
- In November 2023, Elanders acquired all the shares in the British contract logistics company Kammac Ltd. During the past twelve-month period, Kammac had net sales of MGBP 90 with very good profitability.
Further information can be found on Elanders’ website www.elanders.com or requested via e-mail aW5mb0BlbGFuZGVycy5jb20=.
Questions concerning this report can be addressed to:
Magnus Nilsson
President and CEO
Phone: +46 31 750 07 50
Andréas Wikner
Chief Financial Officer
Phone: +46 31 750 07 50
Elanders AB (publ)
(Company ID 556008-1621)
Flöjelbergsgatan 1 C
431 35 Mölndal, Sweden
Phone: +46 31 750 00 00
This information is information that Elanders AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 07:30 CET on 31 January 2024.
