Regulatory press release

Boreo publishes comparable financial information for its new segment structure

Boreo

BOREO PLC        STOCK EXCHANGE RELEASE     20 March 2024 at 17:00 EET

Boreo publishes comparable financial information for its new segment structure

Boreo announced on 14 December 2023 that it simplifies its organizational structure and combines the existing Technical Trade and Heavy Machines business areas to one new Technical Trade business area effective as of 1 January 2024. Etelä-Suomen Kuriiripalvelu and Vesterbacka Transport, currently reported under Other operations, will also be combined into the new Technical Trade business area. As a result, the former Other operations -segment will in the future comprise only the parent company Boreo’s group functions and the segment will be renamed as ‘Group functions’. Boreo’s financial reporting will reflect the new organizational structure from the first quarter of 2024 onwards.

As of 1 January 2024, Boreo’s organizational structure is as follows:

  • Electronics business area including: Yleiselektroniikka, YE International Estonia, YE International Latvia, YE International Lithuania, Noretron Components, Milcon, Infradex, Signal Solutions Nordic and Delfin Technologies, and
  • Technical Trade business area including: Machinery, Muottikolmio, Pronius, J-Matic, Filterit, Tornokone, PM Nordic, HM Nordic, Floby Nya Bilverkstad, Lackmästarn, Etelä-Suomen Kuriiripalvelu and Vesterbacka Transport.

Unaudited comparable financial information for the new segments is presented below.

Net sales, business areas 2022-2023 - Quarterly  
EUR million2023Q4 2023Q3 2023Q2 2023Q1 20232022Q4 2022Q3 2022Q2 2022Q1 2022
Electronics62,415,116,315,115,961,518,617,314,011,7
Technical trade98,922,024,727,225,198,926,426,026,420,0
Group functions0,00,00,00,00,00,00,00,00,00,0
Total161,337,141,042,341,0160,445,043,340,431,7

 

Operational EBIT, business areas 2022-2023 - Quarterly  
EUR million2023Q4 2023Q3 2023Q2 2023Q1 20232022Q4 2022Q3 2022Q2 2022Q1 2022
Electronics4,11,11,01,00,94,21,51,30,60,7
Technical trade7,51,62,31,91,76,81,42,12,31,0
Group functions-2,1-0,6-0,4-0,5-0,6-2,3-0,7-0,5-0,6-0,5
Total9,52,12,92,42,18,72,23,02,41,2

 

Return on Trade Working Capital (ROTWC %), R12, 2022-2023 - Quarterly  
PercentQ4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022
Electronics45,9 %49,7 %49,9 %43,6 %43,1 %37,8 %39,8 %41,5 %
Technical trade33,6 %31,9 %29,9 %31,7 %29,8 %32,7 %33,4 %37,1 %
Group functions--------
Group30,3 %30,1 %29,1 %28,5 %26,7 %26,9 %27,3 %29,7 %

 

Key figures Electronics  
EUR million2023Q4 2023Q3 2023Q2 2023Q1 20232022Q4 2022Q3 2022Q2 2022Q1 2022
Net sales62,415,116,315,115,961,518,617,314,011,7
Operational EBIT4,11,11,01,00,94,21,51,30,60,7
relative to net sales, %6,5 %7,5 %6,3 %6,4 %5,9 %6,8 %8,3 %7,8 %4,4 %6,0 %
EBIT3,30,90,80,80,83,71,41,20,50,6
Return on Trade Working Capital (ROTWC %), R1245,9 %45,9 %49,7 %49,9 %43,6 %43,1 %43,1 %37,8 %39,8 %41,5 %
Capital expenditure0,40,30,10,00,00,40,10,00,20,1
Personnel at end of the period137137138130126120120132128124

 

Key figures Technical trade  
EUR million2023Q4 2023Q3 2023Q2 2023Q1 20232022Q4 2022Q3 2022Q2 2022Q1 2022
Net sales98,922,024,727,225,198,926,426,026,420,0
Operational EBIT7,51,62,31,91,76,81,42,12,31,0
relative to net sales, %7,6 %7,2 %9,5 %7,0 %6,8 %6,9 %5,2 %8,2 %8,8 %4,9 %
EBIT5,51,01,91,41,25,51,01,82,00,8
Return on Trade Working Capital (ROTWC %), R1233,6 %33,6 %31,9 %29,9 %31,7 %29,8 %29,8 %32,7 %33,4 %37,1 %
Capital expenditure1,90,90,10,40,41,50,40,10,60,4
Personnel at end of the period197197204203199198198164164157

 

Key figures Group functions  
EUR million2023Q4 2023Q3 2023Q2 2023Q1 20232022Q4 2022Q3 2022Q2 2022Q1 2022
Net sales0,00,00,00,00,00,00,00,00,00,0
Operational EBIT-2,1-0,6-0,4-0,5-0,6-2,3-0,7-0,5-0,6-0,5
relative to net sales, %0,0 %0,0 %0,0 %0,0 %0,0 %0,0 %0,0 %0,0 %0,0 %0,0 %
EBIT-2,4-0,6-0,6-0,5-0,6-2,8-0,7-0,6-0,7-0,8
Capital expenditure0,00,00,00,00,00,00,00,00,00,0
Personnel at end of the period6676699886

 

Vantaa, 20 March 2024

Boreo Plc
Kari Nerg
CEO

Distribution:
NASDAQ Helsinki Ltd
Principal media
www.boreo.com

Further information:

Kari Nerg
CEO
tel +358 44 341 8514

Aku Rumpunen
CFO
tel +358 40 556 3546

Boreo in brief:

Boreo is a company listed on Nasdaq Helsinki that creates value by owning, acquiring and developing small and medium-sized companies in the long-term. Boreo's business operations are organized into two business areas: Electronics and Technical Trade.

Boreo's primary objective is sustainable long-term profit generation. This is achieved with a business model that is based on the acquisition and ownership of great entrepreneurial companies with ability to generate sustainable long-term earnings growth and strong cash flows. The profits generated by the portfolio of companies are re-invested back to operations or to acquisitions with attractive expected returns on capital. The decentralized operating structure promoting culture of ownership and release of entrepreneurial energy is a core pillar of the firm’s business concept and sustainable earnings growth is ensured through the support and coaching of companies and the personnel.

The Group's net sales in 2023 were EUR 161 million and it employs over 300 people in seven countries. The company’s headquarter is in Vantaa.

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