Interim report
Page 1
Half - year report January - June 2021 Financial highlights second quarter Net sales increased to SEK 201 m ( 178 ) , organic growth was 7 % . > > > > > > Business highlights second quarter Pontus Bodelsson assumes his position as new President and CEO of Karnov Group . > EBITA amounted to SEK 70 m ( 63 ) with EBITA margin of 35.0 % ( 35.5 % ) . Adjusted EBITA amounted to SEK 70 m ( 63 ) with adjusted EBITA margin of 35.0 % ( 35.5 % ) . Net result amounted to SEK 20 m ( 27 ) . Earnings per share after dilution amounted to SEK 0.20 ( 0.27 ) . Adjusted operating cash flow amounted to SEK 38 m ( 49 ) . > Karnov Group has delivered satisfying growth in the second quarter , in both segments . The growth is driven by a combination of an increase in demand for our new and existing offerings from both new and existing customers . We are satisfied to experience a significant increase in demand for our offerings from the public sector and in our EHS vertical . DIBkunnskap AS has performed well in the second quarter . The company has diluted the adjusted EBITA margin by approximately 1 pp on Group level , as earlier announced . Key financial ratios for the Group * Continued expansion TSEK Net sales Organic growth , % EBITA EBITA margin , % Adjusted EBITA Adjusted EBITA margin , % Net result * Adjusted cash flow from operating activities Q2 2021 201 , 121 6.6 % 70,447 35.0 % 70,447 35.0 % 19,985 38,193 Financial highlights first six months Net sales increased to SEK 435 m ( 390 ) , organic growth was 6 % . > > EBITA amounted to SEK 165 m ( 151 ) with EBITA margin of 38.1 % ( 38.8 % ) . Adjusted EBITA amounted to SEK 165 m ( 151 ) with adjusted EBITA margin of 38.1 % ( 38.8 % ) . Net result amounted to SEK 60 m ( 56 ) . > > Earnings per share after dilution amounted to SEK 0.61 ( 0.57 ) . Adjusted operating cash flow amounted to SEK 142 m ( 219 ) . > 2020 177,958 2.1 % 4 % 13.0 % 63,259 11.4 % 35.5 % 63,259 11.4 % 35.5 % 26,858 -25.6 % 48,976 -22.0 % For more information see Financial definitions and Note 7 for calculations of Alternative Performance Measures . Jan - Jun Q² 2021 434,641 5.7 % 165,445 38.1 % 165,445 38.1 % 59,705 142,481 2020 A % 389,919 11.5 % 2.3 % 151,474 9.2 % 38.8 % 151,474 38.8 % 55,941 6.7 % 219,319 -35.0 % 9.2 % Jan - Dec 2020 771,416 2.1 % 275,955 35.8 % 288,158 37.4 % 100,004 413,762 IIIKARNOV GROUP