Wästbygg Group’s Year-End Report for 2022

Wästbygg Gruppen AB (publ) presents its year-end report for 2022.

“After handing over a number of self-developed projects, we ended the final quarter of 2022 with a strengthened cash position and a strong equity ratio. This gives us a stable foundation to stand on in 2023, in a market that remains uncertain and largely unpredictable and also gives us the possibility to undertake projects that we deem as having the right criteria. Although the order intake in Q4 2022 was lower than the same period in the record year of 2021, our order backlog remains stable. Due to unforeseen price rises and problems faced by some of our subcontractors, our profit was lower than expected,” says Jonas Jönehall, CEO Wästbygg Group.

GROUP IN SUMMARY, IFRS
1 January – 31 December 2022

• Revenue SEK 5,181 million (3,949)
• Operating profit SEK -50 million (235)
• Profit after tax SEK -17 million (241)
• Earnings per share SEK -0.53 (7.42)
• Cash flow from operating activities SEK -891 million (-319)
• Interest-bearing net cash (+) /net debt (-) SEK -556 million (151)
• Equity ratio 36% (43)
• The Board of Directors proposes that the Annual General Meeting adopt a dividend of SEK 1.65 per share (3.50)

1 October – 31 December 2022

• Revenue SEK 1,728 million (1,231)
• Operating profit SEK 14 million (10)
• Profit after tax SEK 13 million (13)
• Earnings per share SEK 0.39 (0.39)
• Cash flow from operating activities SEK 209 million (-192)

SUMMARY ACCORDING TO SEGMENT REPORT
1 January – 31 December 2022

• Revenue SEK 5,794 million (3,818)
• Operating profit SEK 88 million (277)
• Profit after tax SEK 131 million (290)
• Earnings per share SEK 4.05 (8.94)
• Cash flow from operating activities SEK -307 million (-137)
• Interest-bearing net cash (+) /net debt (-) SEK 849 million (794)
• Equity ratio 45% (44)
• New orders SEK 5,006 million (5,456)
• Order backlog 31 December SEK 5,754 million (6,572)

1 October – 31 December 2022

• Revenue SEK 1,814 million (1,271)
• Operating profit SEK 20 million (69)
• Profit after tax SEK 26 million (74)
• Earnings per share SEK 0.80 (2.26)
• Cash flow from operating activities SEK 329 million (-212)
• New orders SEK 869 million (2,514)

Comparative figures in parentheses refer to profit items corresponding to the period 2021 and for balance sheet items corresponding to the balance sheet date 2021.

SIGNIFICANT EVENTS IN THE FOURTH QUARTER

• The company signed its first construction contract in the Finnish market. The client is Kiinteistö Oy Koskelonteollisuus and the project comprises a 9,000 sqm logistics facility in Ilvesvuori, Nurmijärvi. The order value is equivalent to approximately SEK 102 million.
• A 45,000 sqm logistics facility in Stockholm, developed for the tenant Mathem, was completed in October. The property owner, Niam, took possession of the facility after completion, in accordance with the forward commitment contract signed in December 2020.

Today at 9:30 Jonas Jönehall, CEO and Jessica Gårdmo, CFO, will present and comment on the report. The presentation will be held in Swedish.

Link to webcast: https://wbgr.se/en/q4-2022/

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For more information, please contact:

Jonas Jönehall, CEO
Phone: +46 73 920 19 01
Email: jonas.jonehall@wastbygg.se

Jessica Gårdmo, CFO
Phone: +46 73 467 26 15
Email: jessica.gardmo@wastbygg.se

Robin Sundin, Group Legal Counsel and Head of Investor Relations
Phone: +46 72 529 30 04
Email: robin.sundin@wastbygg.se

wastbygg.se
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About Wästbygg Group:

Wästbygg Group is a listed construction and project development company that builds and develops residential, commercial buildings and community service properties, as well as logistics and industrial facilities – always with a major focus on sustainability. The group comprises Wästbygg AB, Rekab Entreprenad AB, Logistic Contractor AB and Inwita Fastigheter AB.

The group operates in the most rapidly expanding markets in Sweden, with Logistic Contractor also providing services in Denmark, Norway and Finland. In 2022, the group had sales of SEK 5.8 billion and 600 employees.