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Momentum Group has today signed an agreement to acquire 100 percent of the shares in Agera Industritillbehör AB. Agera is a supplier-independent retailer of components and services to industrial customers. Through the acquisition, Momentum Group further strengthens its position as the leading supplier in the field. Closing takes place immediately and the acquisition is expected to have a marginal positive impact on Momentum Group's earnings per share during the current financial year.
Momentum Group has today, through its subsidiary Momentum Industrial, signed an agreement to acquire 100 percent of the shares in LocTech AB. LocTech is a comprehensive supplier of seals for rotating and static applications, and the acquisition strengthens Momentum Industrial's position in the field. Closing is expected to take place 1 March and the acquisition is estimated to have a marginal positive impact on Momentum Group's earnings per share during the current financial year.
Momentum Group concluded its first year as a listed company with favourable sales performance combined with increased earnings. Revenue increased by 23 per cent, of which 11 per cent for comparable companies, and EBITA rose by 19 per cent compared with the fourth quarter last year. This growth was the result of structured improvement efforts in the Group’s companies, with a focus on profitable growth – in combination with acquisition-driven growth.
Fourth quarter 2022
Momentum Group has today signed an agreement to acquire 70 percent of the shares in Hydmos Industriteknik AB (“Hydmos”). Hydmos has a leading position in advanced hydraulic and gas systems for use within high pressure applications. Closing is expected to take place in February 2023 and the acquisition is expected to have a marginal positive impact on Momentum Group's earnings per share during the current financial year.
Momentum Group has today, through its subsidiary Öbergs i Karlstad AB ("Öbergs"), signed an agreement to acquire 70 percent of the shares in JOKRAB Automatikbyggnad AB ("JOKRAB"). JOKRAB builds and assembles equipment for process regulation, mainly to the pharmaceutical industry and the acquisition strengthens Öbergs’ position in the field. Closing takes place immediately and the acquisition is expected to have a marginal positive impact on Momentum Group's earnings per share during the current financial year.
Continued solid sales performance and demand for the companies’ products and services during the quarter. The Group displayed organic sales growth of 8 per cent which, combined with good cost control, led to an increase in EBITA of 16 per cent compared with the third quarter of the preceding year.
Third quarter 2022
Momentum Group has today signed an agreement to acquire 100 percent of the shares in Börjesson Pipe Systems AB (“BPS”). BPS is a leading player in sustainable flow technology solutions and products. Through the acquisition, Momentum Group further strengthens its position as a leading supplier of industrial components and related services to Nordic industry. Closing takes place immediately and the acquisition is expected to have a marginal positive impact on Momentum Group's earnings per share during the current financial year.
Momentum Group AB has appointed ABG Sundal Collier (“ABGSC”) as liquidity provider for the company’s shares listed on Nasdaq Stockholm with the aim to improve the liquidity of the share and reduce the spread.
The Election Committee for the Annual General Meeting 2023 will be composed of Pontus Boman (nominated by Nordstjernan), Stefan Hedelius (nominated by Tom Hedelius), Lilian Fossum Biner (nominated by Handelsbanken Fonder) and Mattias Montgomery (nominated by Carnegie Fonder), with Pontus Boman as Chairman.
Demand during the quarter was favourable, despite a turbulent operating environment. Our companies have continuously succeeded in managing rising raw material prices and shipping costs as well as component shortages through price adjustments and being creative when it comes to delivery routes and suppliers. Overall, this meant that revenue for the second quarter increased 13 per cent year-on-year, of which 8 per cent for comparable units, with EBITA growth of 23 per cent.