POLY - Continued Progress but Weaker Demand in Europe for the Quarter
STOCKHOLM, Aug. 9, 2019 /PRNewswire/ --
Second QUARTER 2019
- Sales grew 7.3% to EUR 157.8 million, organic growth amounted to 0.3% and acquired growth contributed 7%. Organic growth slowed in the quarter due to weaker demand in Europe overall compared to the strong second quarter of 2018 and fewer working days in the quarter.
- Adjusted EBITA amounted to EUR 8.3 million, a decrease of 7.8% compared to last year. The quarter was affected by a negative business mix with fewer cases of water damage and Major & Complex Claims compared to 2018.
- On 1 April, Polygon Netherland acquired VanWaarde group, with annual sales of EUR 1.8 million.
- Polygon acquired The Plastic Surgeon Holding Ltd in the UK on 10 May, with annual sales of EUR 15 million.
- On 3 June, Polygon acquired Tehokuivaus Oy in Finland, with annual sales of EUR 7 million.
- Polygon signed an agreement at the end of June to acquire the shares of Nettag AG, a water and fire damage restoration company based in Switzerland. The acquisition will add sales of about EUR 4.5 million and is expected to close in August.
JANUARY - JUNE 2019
- Sales growth for the period was 7.6% and turnover amounted to EUR 317.8 million. Organic growth was 1.9% and acquired growth amounted to 5.6%.
- Adjusted EBITA amounted to EUR 18.3 million, down by 2.1%. This reflects a negative business mix and continued investments in the organisation to ensure future organic growth.
- During the first half of the year, Polygon made six acquisitions, including Nettag in Switzerland, with combined sales of approximately EUR 40 million.
For more information, please visit www.polygongroup.com or contact Martin Hamner, Chief Financial Officer, martin.hamner@polygongroup.com, +46 70 607 85 79
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