Press Releases

07. May 2021

Interim Financial Report January – March 2021

Good profitability with elevated activity at our customers

The first quarter of 2021 can be characterized as highly active and reflected by the strong sales in the quarter. When compared with Q1 2020 our sales increased 11.7% to SEK 471 million. The good volumes and continued focus on cost management led to an Adjusted EBITDA of SEK 52.6 million or a margin of 11.2%.

The revenue increase can be seen within the growth in the Passenger Car segment which increased as a percentage of our revenues to 15.5% from 9.9% in Q1 2020.

We continued to monitor our supply chain for signs of stress as global demand for steel has increased lead times. Fortunately, in Q1, we have had minimal impact from shortages including the effect that the global semiconductor shortage has on our end markets. We cannot rule out potential supply chain disruptions in the near to midterm but our focus on flexibility is key to maintaining performance.

Consistent with our long-term strategy we established a Gear Technology Team within the group function reporting to the CTO. The mandate is to support our customers’ electrification and alternative energy programs through R&D and advanced engineering efforts leveraging our precision gearing and machined component competence.

Short-term order boards remain strong specifically in but not limited to the commercial vehicle segment.

Summary of the first quarter of 2021

  • Net Sales amounted to SEK 471.2 million (421.8)
  • Adjusted operating profit before depreciation (Adjusted EBITDA) amounted to SEK 52.6 million (47.5)
  • Earnings before tax (EBT) decreased to SEK 15.9 million (19.3)
  • Profit margin before tax (EBT%) amounted to 3.4% (4.6%)
  • Cash flow from operating activities increased to SEK 30.7 million (28.7)
  • Net income for the period decreased to SEK 11.8 million (19.3)

LEAX Group AB (publ) is the parent company of a group (“LEAX Group”) with about 1 100 employees. LEAX has operations in Köping, Falun and Falköping in Sweden, Riga and Rezekne in Latvia, Curitiba in Brazil, Detmold in Germany, Mezökövesd in Hungary and Wuxi in China. The Group is a manufacturer of mechanical components and subsystems for the heavy vehicle industry, passenger cars, mining and construction industries and other engineering industries. LEAX Group also delivers customized gearboxes for various mechanical engineering industries. The Group had a turnover of SEK 1.5 billion in 2020.


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