Profitability, financial position and cash flow
The return on equity at the end of the period was 28 percent (29) and return on capital employed was 22 percent (22). Return on working capital P/WC (EBITA in relation to working capital) amounted to 74 percent (68).

At the end of the period the equity ratio amounted to 38 percent (38). Equity per share, excluding non-controlling interest, totalled SEK 24.50 (20.75). The Group's net debt at the end of the period amounted to SEK 5,342 million (4,543), excluding pension liabilities of SEK 261 million (249). The net debt/equity ratio, calculated on the basis of net debt excluding provisions for pensions amounted to 0.8 (0.7).

Cash and cash equivalents consisting of cash and bank equivalents and approved but non-utilised credit facilities amounted to SEK 2,173 million (1,762) at 31 December 2024.

Cash flow from operating activities amounted to SEK 1,848 million (1,894) during the period. Company acquisitions and disposals including settlement of contingent consideration regarding acquisitions implemented in previous years amounted to SEK 1,216 million (1,121). Investments in non-current assets totalled SEK 168 million (138) and disposal of non-current assets amounted to SEK 19 million (15). Repurchase of call options amounted to SEK 67 million (32). Exercised and issued call options totalled SEK 44 million (45). Dividend paid to the shareholders of the Parent Company totalled SEK 755 million (674), corresponding to SEK 2.80 (2.50) per share. The dividend was paid out in the second quarter.

Employees
At the end of the period, the number of employees was 4,430 compared to 4,175 at the beginning of the financial year. During the period, completed acquisitions resulted in an increase of the number of employees by 277. The average number of employees in the latest twelve month period was 4,274.

Ownership structure
At the end of the period the share capital amounted to SEK 51.1 million.

Addtech has four outstanding call option programmes for a total of 2,295,275 shares. Call options issued on repurchased shares entail a dilution effect of about 0.2 percent during the latest twelve month period. Addtech's own shareholdings fully meet the needs of the outstanding call option programmes.

Acquisitions and disposal
During the period, 1 April to 30 September 2024 the following acquisitions were completed; Romani Components Srl, Italy, was acquired to become part of the Automation business area. Nuova Elettromeccanica Sud S.p.A., Italy, was acquired to become part of the Energy business area. Novomotec GmbH, Germany, and Cell Pack Solutions Ltd., Great Britain, were acquired to become part of the Electrification business area. GoDrive AS, Norway, and C. Gunnarssons Verkstads AB, Sweden, were acquired to become part of the Industrial Solutions business area. Analytical Solutions and Products B.V., Netherlands, were acquired to become part of the Process Technology business area. 

On 1 October, 85 percent of the shares in PGS Tec GmbH, Germany, was acquired to become part of the Process Technology business area. PGS designs, assembles and installs customised water and gas supply systems to pharmaceutical, industrial and laboratory customers. The offering covers the entire spectrum of pipeline infrastructure, including valves, instrumentation and automation as well as service and maintenance. The company has 15 employees and sales of around EUR 7 million.

On 4 November, Unilite A/S, Denmark, was acquired to become part of the Energy business area. Unilite develops, manufactures and sells energy-efficient fire safety- and ventilation solutions for industrial, commercial and public buildings. The company has 78 employees and sales of around DKK 210 million.

On 5 November, Nanosystec GmbH, Germany, was acquired to become part of the Electrification business area. Nanosystec develops, produces and sells production equipment primarily for manufacture of opto-electronics and precision mechanics to customers in the data communications, medical technology and semiconductor industries. The company has 20 employees and sales of around EUR 7.8 million.

The purchase price allocation calculations for the acquisitions completed during the period 1 April - 31 December 2023 have now been finalised. No significant adjustments have been made to the calculations. Acquisitions completed as of the 2023/2024 financial year are distributed among the Group’s business areas as follows:

If all acquisitions which have taken effect during the period had been completed on 1 April 2024, their impact would have been an estimated SEK 1,050 million on Group net sales, about SEK 130 million on operating profit and about SEK 95 million on profit after tax for the period.

Addtech normally employs an acquisition structure comprising basic purchase consideration and contingent consideration. The outcome of contingent purchase considerations is determined by the future earnings reached by the companies and is subject to a fixed maximum level. Of considerations not yet paid for acquisitions during the period, the discounted value amounts to SEK 216 million. The contingent purchase considerations fall due for payment within three years and the outcome is subject to a maximum of SEK 255 million. 

Transaction costs for acquisitions that resulted in an ownership transfer during the period amounted to SEK 20 million (25) and are reported under Selling expenses.

Revaluation of contingent consideration had a negative net effect of SEK 8 million (5) during the period. The impact on profits is reported under Other operating income and Other operating expenses, respectively.

According to the preliminary acquisitions analyses, the assets and liabilities included in the acquisitions were as follows, during the period:

Parent Company
Parent Company's net sales during the period amounted to SEK 83 million (71) and profit after financial items was SEK 29 million (-4). Net investments in non-current assets were SEK 0 million (0). The Parent Company's financial net debt was SEK 82 million (142) at the end of the period.