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Quant AB

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Prenumeration

Interim report January – March 2023
2023-05-26 08:00:00

Quant releases the interim report for January - March 2023

January-March

  • Net sales for the quarter improved to EUR 58.8 (40.9) million. Organically, net sales increased by 40.8%
  • During the quarter the contract portfolio value increased by net EUR 4.2 million. One contract was won, three contracts were renewed, and no contracts were lost. Portfolio run rate annualized net sales at the end of the quarter was EUR 213.9 million, compared to EUR 176.8 million prior year, and EUR 209.7 million at the end of the fourth quarter of 2022
  • Operating profit for the quarter amounted to EUR 2.6 million, compared to EUR 1.4 million prior year
  • Adjusted EBITDA amounted to EUR 3.8 million compared to EUR 2.5 million prior year, excluding the effect of implementation of IFRS 16 Leases. In constant currencies, Adjusted EBITDA for the quarter was EUR 3.7 (2.5) million. Adjusted EBITDA with IFRS 16 implementation was EUR 4.1 (3.0) million
  • Cash flow from operating activities amounted to EUR 3.5 (2.8) million, of which change in working capital amounted to EUR 2.0 (3.3) million
  • Net income for the continuing business amounted to EUR 0.5 million compared to EUR 0.8 million prior year
  • The Adjusted EBITDA for discontinued operations was EUR -0.1 (-0.2) million and the net profit was EUR -0.1 (-0.1) million, which is not included in the reported numbers above
  • Group net income for the quarter, including discontinued operations, was EUR 0.5 (0.7) million

Significant events after the quarter

In 28 April it was announced that Alcoa Mosjøen, a customer in region Europe & Middle East, will insource its maintenance operations after the completion of the contract period. Quant will continue to manage the maintenance on the site until 30 November 2023 to ensure the completion of the current contract and smooth handover of the maintenance operation. Quant will reduce its contract portfolio value with approximately EUR 8.7 million in its second quarterly report in 2023.

Telephone conference

A telephone conference where management comment on the report is held at 10:00 CET on May 26, 2023. Details for participation by telephone are found ahead of the call on www.quantservice.com/investor.

Quant AB (publ) 

For further information, please contact: 
Juha Hanni, acting CFO: +358 505 525 990
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 12 countries world-wide, employing 3,100 people. The parent company is located in Stockholm, Sweden. For more information about the group, please visit www.quantservice.com. 

This information is information that Quant 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 2023-05-26 08:00 CEST.

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Quant Quarterly Report Q1 2023
Interim report January – March 2023

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