2019-11-29 15:15Pressmeddelande

Quarterly financial information

Date: 29th of Nov 2019

SSCP Lager BidCo AB (publ) – Consolidated quarterly financial information for the period January 1 - September 30, 2019

Events in the quarter

  • Logent Group entered into a staffing services agreement with Ellos Group.
  • SSCP Lager BidCo AB has started a conversion from Swedish GAAP to IFRS during the third quarter and will present adjusted reporting for the year end 2019.

 

July 1 to September 30, 20191

  • Net sales amounted to SEK 318,107 thousand (SEK 297,536 thousand)
  • EBITDA amounted to SEK 31,157 thousand (SEK 30,663 thousand)
  • Net profit for the period amounted to SEK -25,405 thousand
  • Cash flow from operating activities amounted to SEK 17,207 thousand

 

January 1 to September 30, 20191

  • Net sales amounted to SEK 980,199 thousand (SEK 880,353 thousand)
  • EBITDA amounted to SEK 100,516 thousand (SEK 80,788 thousand)
  • Net profit for the period amounted to SEK -7,442 thousand
  • Cash flow from operating activities amounted to SEK 35,076 thousand

 

Material events subsequent to the reporting period

  • The company has carried out an issuance of SEK 900 million senior secured notes and entered into a super senior revolving credit facility.
  • Johan Wallmander, the previous CEO for Logent Staffing & Recruitment, has been appointed as VP Cooperate Development, as responsible for Logents future strategic geographical expansion into new markets.
  • Patrik Engh, the current CEO for Logent Customs AB, has been appointed as the new CEO for Logent Staffing & Recruitment.

 

CEO’s comments

Logent Group shows a strong financial performance with revenue of SEK 980.1m and EBITDA of SEK 100.5m year to date. The company continues to show a positive growth development and ended up at a growth rate of 11% year to date compared to last year. The explanation behind the positive financial development is mainly related to new businesses in the business areas Warehousing and Transport management.

Logent welcome the new main owner of the company, Stirling Square Capital Partner, who acquired Logent 28th of June 2019.

 

 

For more information, please contact:

Sara Fors, CFO, telephone number: +46 722 540037, sara.fors@logent.se or Mats Steen, CEO, telephone number: +46 702 338302, mats.steen@logent.se

This press release was published on 29 November 2019 at CET 16:15.

 

About Logent Group

Logent is a comprehensive and independent logistics partner, with a Nordic base and with global networks. We have a wide range of services and create value for our customers through guaranteed cost and quality improvements. Our services include Logistics Services such as Warehouse Management, Transport Management and Customs, Port and Combined Terminals, Staffing Services and Consulting Services. This means that Logent has grown to a turnover of about SEK 1.5 billion from the start in 2006 and employs approximately 3,000 people.

[1] Throughout this report, figures in parentheses pertain to the corresponding period the previous year.

 

Appendix

SSC Lager BidCo AB (publ) – Consolidated financial information January-September 2019 [Link]


Om Logent

Logent är en heltäckande och oberoende logistikpartner, med nordisk bas och med globala nätverk. Vi har ett brett serviceutbud och skapar värde till våra kunder genom garanterade kostnads- och kvalitetsförbättringar. Våra tjänster omfattar Lager- och Produktionslogistik, Transport Management, Tullhantering och Hamnverksamhet samt Bemanningstjänster och Konsulttjänster. Detta gör att Logent från starten 2006 har vuxit till en omsättning på ca 1.5 mdr SEK, sysselsätter ca 3 000 personer och finns i Sverige och Norge.