Interim Report Q2 2021


Since Vestum was formed on May 20, 2021, Vestum has announced 14 acquisitions, of which nine were completed during the second quarter. The estimated 12-month rolling net sales for all 14 acquisitions amount to SEK 1,509 million with an adjusted EBITA of SEK 166 million. Pro forma has been established for the nine acquisitions that were completed during the second quarter. The clothing brand WeSC has been considered as operations held for sale. The figures below refer only to the continuing operations.

Highlights of the second quarter of 2021

  • Since the announcement of Vestum on March 22, 2021, 14 acquisitions have been announced, of which nine were completed during the second quarter
  • All nine acquisitions were completed during the middle and end of June, which is why they have only a minor impact on the Group's net sales and earnings during the second quarter
  • Net sales amounted to SEK 36.3 million
  • EBITA amounted to SEK 1.2 million
  • EBITA per share amounted to SEK 0.01

Summarising comments by CEO Conny Ryk

During the second quarter, Vestum has established internal platforms in IT, governance and reporting. Our organization is growing, and we have come a long way in working with our portfolio companies. Our value creation is partly about creating incentives and the right conditions for our companies' management teams to accelerate the development of their own operations, while we work together to identify collaborative effects between the companies to achieve synergies. We work systematically with this type of networking at both the Group and segment level. That can be seen in the form of cross selling and project collaborations between the companies, which is now happening with several of Vestums operations. Add-on acquisitions to existing portfolio companies can function as an additional value driver by increasing margins and improving organic growth, which we saw examples of during the second quarter in the Infrastructure segment.

As we have established internal platforms for financing, IT, governance and reporting, and thus enabled us to maintain a high acquisition rate going forward, we plan to further increase the growth rate. This, in combination with well-established working methods for achieving synergies between our portfolio companies, means we have a positive outlook for the remainder of the year. We currently have an attractive financing model and the net debt at the end of the quarter amounts to 2.8 times adjusted pro forma EBITDA, which is well below our financial target. We are now evaluating long-term opportunities for further improving the capital structure with various debt instruments.

Overall, we have in a short period of time created a well-diversified Group with a strong financial profile. In just over three months, we have entered into agreements to acquire 14 prominent specialist companies with more than 500 employees. We expect to be able to increase this acquisition rate even further during the second half of 2021. By year-end, we expect to have doubled the Group's estimated 12-month rolling sales and adjusted EBITA to corresponding sales of SEK 3 billion and adjusted EBITA of SEK 330 million. This is largely due to our driven organization, strong balance sheet and great interest from relevant market participants such as financial institutions and acquisition candidates. We are openly growth-oriented and work hard to deliver continued high growth with stable profitability to our shareholders.

Responsible Party

This information is information that Vestum AB (publ) is obliged to make public pursuant of the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 07:30 CEST on August 19, 2021.

For additional information, please contact:

Conny Ryk, CEO of Vestum AB (publ)

Phone: +46 70 775 53 10

E-mail: [email protected]

About Vestum

Vestum is a Swedish acquisition-driven company focused on acquiring and developing specialist companies within the construction services and infrastructure industries. Vestum is actively looking for high-quality companies with proven business models, strong market positions and predictable cash flows where Vestum can be involved and contribute to continued positive development.

For additional information, please visit:

Vestum's share is traded under the short name VESTUM on Nasdaq First North Growth Market and the company's Certified Adviser is G&W Fondkommission: phone: +46 (0)8 503 000 50, e-mail: [email protected].

Nerladdningsbara filer

Delårsrapport Q3 2021

Interim Report Q3 2021

Delårsrapport Q2 2021

Interim Report Q2 2021

Delårsrapport Q1 2021

Årsredovisning 2020

Bokslutskommuniké 2020

Delårsrapport Q3 2020

Delårsrapport Q2 2020

Årsredovisning 2019

Delårsrapport Q1 2020

Bokslutskommuniké 2019

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