Francks Kylindustri Holding AB (publ) second quarter report 2024

29 August 2024, at 09:00 Regulatory press release

Francks Kylindustri Holding AB (publ) (“Francks Kylindustri” or Francks”) hereby publishes the interim report for the period April – June 2024. The full report is available on Franck’s website (https://francksref.com) and as an attached file.

April – June 2024

  • Pro Forma Net sales amounted to SEK 481m (407)
  • Pro Forma Adjusted EBITDA amounted to SEK 47m (44)
  • Cashflow from operating activities amounted to SEK -68m (-31)
  • Order intake amounted to SEK 296m (359)
  • Order backlog amounted to SEK 564m (529)

Comments by the CEO
We reported a solid second quarter with Pro Forma Net sales of SEK 481m, +18% YoY and Pro Forma Adjusted EBITDA of SEK 47 m, +6% YoY. The market softness and customer tentativeness we experienced in the first quarter of the year has eased. We had a robust project order intake of SEK 296m, a decent quarter given Q2 of last year was exceptionally strong. Our overall project order backlog continued to grow and with a 7% increase we are entering the second half of the year with a positive momentum.

In April we issued our first senior secured bonds of SEK 550m with floating interest and a maturity of 3 years within a framework of a total of SEK 1,250m.

In March we welcomed NH3 Kølegruppen of Denmark and in June we welcomed Florø Kjøleservice of Norway to the Francks group. Also in June, as we continuously work to develop and focus our business, we divested Kyl & Värmepumpservice i Halmstad AB of Sweden.

After the end of the quarter, we announced the acquisition of Svedan Industri Køleanlæg. It is a strategic milestone for Francks as the combined group forms a solid platform with strong market position and nationwide coverage in Denmark. We also welcomed Kerstin Levin as our new CFO.

I’m honored to be able to present this first public quarterly report for Francks Kylindustri. Francks is the Nordic market leader within industrial and commercial cooling system installations and service.

For more information, please contact:
Sören Jensen, CEO
+46 76 130 14 66,
Kerstin Levin, CFO
+46 70 344 52 65,