The Alimak Group reports good business levels for the January-September 2016 period and is looking to make an acquisition. The firm said that it has had profitable growth in the third quarter with an operating margin (EBIT) of15.4%, compared with 15.2% for the same period last year. Meanwhile it has seen a 6% growth in order intake, driven by a healthy demand for construction equipment. The operating margin (EBIT) for after sales meanwhile has been 32.4%, compared with 29.5% for the same period last year.
In the third quarter, order intake increased by 6% to €52 million (512.5 MSEK), compared with €49.16 million (484.6 MSEK) for the same period last year. Revenues meanwhile increased by 9% to €47.83 million (471.4 MSEK), compared with €44.07 million (434.4 MSEK) for the same period last year. Reported operating profit (EBIT) was €8.07 million (79.6 MSEK) compared with €6.7 million (66.1 MSEK) for the same period in the previous year and includes gains of €70,000 (6.9 MSEK) from the sale of the Rental business in the US. Reported operating margin (EBIT) was 16.9% compared with 15.2% for the same period in the previous year.
Meanwhile the Alimak Group is expanding its operations by acquiring the Facade Access Group for an enterprise value of €83.07 million (819 MSEK).
Facade Access Group has a global market leading position in permanent Building Maintenance Units, BMU solutions, based on high safety standards and with a long lifecycle. The company addresses the market via two brands; CoxGomyl and Manntech. Through this acquisition Alimak Group strengthens and broadens the product portfolio, expands the existing footprint and business into a global adjacent niche market within vertical access while benefitting from a healthy underlying growth in the BMU-market.
The transaction is subject to customary regulatory approvals and expected to close before year end 2016. After closing the acquisition is expected to be immediately accretive to EPS and contribute positively to cash flow while the Group’s EBIT margin is expected to be diluted.
In the third quarter, order intake increased by 6% to €52 million (512.5 MSEK), compared with €49.16 million (484.6 MSEK) for the same period last year. Revenues meanwhile increased by 9% to €47.83 million (471.4 MSEK), compared with €44.07 million (434.4 MSEK) for the same period last year. Reported operating profit (EBIT) was €8.07 million (79.6 MSEK) compared with €6.7 million (66.1 MSEK) for the same period in the previous year and includes gains of €70,000 (6.9 MSEK) from the sale of the Rental business in the US. Reported operating margin (EBIT) was 16.9% compared with 15.2% for the same period in the previous year.
Meanwhile the Alimak Group is expanding its operations by acquiring the Facade Access Group for an enterprise value of €83.07 million (819 MSEK).
Facade Access Group has a global market leading position in permanent Building Maintenance Units, BMU solutions, based on high safety standards and with a long lifecycle. The company addresses the market via two brands; CoxGomyl and Manntech. Through this acquisition Alimak Group strengthens and broadens the product portfolio, expands the existing footprint and business into a global adjacent niche market within vertical access while benefitting from a healthy underlying growth in the BMU-market.
The transaction is subject to customary regulatory approvals and expected to close before year end 2016. After closing the acquisition is expected to be immediately accretive to EPS and contribute positively to cash flow while the Group’s EBIT margin is expected to be diluted.
