Quant | Interim Report January-June 2018
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Interim Report January-June 2018

April – June

  • Revenue for the period remained flat against prior year in local currency. Revenue decreased to EUR 44.8 million from EUR 46.7 million prior year, including currency effect
  • Adjusted EBITDA decreased to EUR 2.4 million from EUR 3.2 million prior year
  • The twelve months adjusted EBITDA was EUR 12.9 million at the end of the quarter, down from EUR 13.6 million at the end of the first quarter of 2018

January – June

  • Revenue for the first six months of 2018 grew organically by 3.3% in local currency. Changes in foreign exchange rates resulted in a revenue of EUR 90.4 million, down from EUR 93.0 million the prior year
  • Adjusted EBITDA for the first six months of 2018 was EUR 6.0 million, down from EUR 6.2 million prior year. In local currency adjusted EBITDA increased by 4.3%
  • Cash flow from operating activities for the first six months of 2018 amounted to EUR -36.6 (3.8) million. Change in net working capital was negative EUR -36.6 (1.3) million for the first six months of the year. Net working capital was negatively affected by recording of the proceeds from the bond issuance as a receivable instead of cash and cash equivalents

Key events during the second quarter

  • During the quarter Quant won three contracts and lost one contract, which on balance affected the contract portfolio positively. Portfolio run rate annualized revenue at the end of the quarter was EUR 177.6 million
  • Quant entered into an agreement to acquire Sataservice, a leading industrial maintenance provider in Western and Southern Finland. Sataservice is a strong local Finnish industrial maintenance provider with revenues of above EUR 40 million the last twelve months, more than 400 employees and operations on more than 14 customer sites throughout Western and Southern Finland
  • Quant issued further EUR 29.5 million under the senior secured bond agreement. The net proceeds from the issuance was used for the acquisition of Sataservice

Subsequent events

  • The acquisition of Sataservice was conditional on an approval from the Finnish Competition and Consumer Authority, which was granted on 18 July 2018. The acquisition was completed and ownership of Sataservice finally transferred to quant on 1 August 2018. Sataservice will be consolidated from the interim report for the third quarter of 2018

Stockholm, 31 August 2018
Quant AB (publ)

 

For further information, please contact:
Glenn Withers, CFO: +46 72 721 06 26
André Strömgren, VP, Commercial, Investor Relations & Treasury: +46 708 410 796
E-mail: ir@quantservice.com

 

Quant AB (publ) is a global leader in industrial maintenance. For over 25 years, we have been realizing the full potential of maintenance for our customers. From embedding superior safety practices and building a true maintenance culture, to optimizing maintenance cost and improving plant performance, our people make the difference. We are passionate about maintenance and proud of ensuring we achieve our customers’ goals in the most professional way. The group operates internationally in close to 30 countries world-wide, employing close to 3,000 people. The parent company is located in Stockholm, Sweden.

Quant AB (publ) is privately held by Nordic Capital since 2014. For additional information about the group, please visit www.quantservice.com.

 

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