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Quarterly report 1 July – 30 September 2018 for Jetpak Top Holding AB

Quarter 3: 1 July – 30 September 2018

· Net sales increased by 6.5% to 198,001 (185,878) KSEK

· EBITDA amounts to 20,098 (16,578) KSEK

· Operating profit amounts to 18,132 (14,755) KSEK

· Profit/loss for the period amounts to 7,611 (4,576) KSEK

· Cash flow from operating activities amounts to 21,153 (3,017) KSEK

Interim period: 1 January – 30 September 2018

· Net sales increased by 8.4% to 594,377 (548,178) KSEK

· EBITDA amounts to 59,224 (51,118) KSEK

· Operating profit amounts to 53,528 (45,640) KSEK

· Profit/loss for the period amounts to 23,903 (18,844) KSEK

· Cash flow from operating activities amounts to 15,227 (5,034) KSEK

Comments from CEO Kenneth Marx

For Jetpak, sales slowed down at a somewhat faster pace than expected in early July and had a slightly slower start in August. The rapid business decline was partly caused by a very warm summer, which resulted in lower activity level among our customers. Specific customer segments were heavily influenced by weather conditions, and i.e. spare part distribution within agriculture customer segment was on very low level. Towards the end of August and September, sales are back at expected levels.

Despite that, Jetpak had a net sales increase of 6.5 percent during the third quarter. An increase in the Express Ad-hoc segment of 5.3 percent and 7.7 percent in the Express Systemized segment. The growth of Jetpak Direct (the company’s same day product within the Express Ad-hoc segment) continues to grow by 5.0 percent in the quarter (with an average contribution of 56 percent). This is a result of a very focused marketing approach towards the “long tail” customers combined with improved customer targeting through utilization of our new CRM system. Furthermore, both segments are benefitting from the introduction of a Business Partner program, which facilitates additional sales within both segments.

EBITDA for the quarter amounted to TSEK 20 098, an increase of TSEK 3 520 compared to the same period last year. This is explained by the fact that the company has strengthened its consolidated contribution through a favorable customer and product mix within both segments and through effects from ongoing production efficiency projects. Also, a strong exchange rates have affected positively. 

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