HAKI Safety AB, a Swedish scaffolding and safety solutions firm, has posted positive results for the third quarter of 2024, showing organic growth and improved profitability.
The companyโs net sales rose by 1 per cent to SEK 253 million (ยฃ18.6 million), with a 13 per cent boost from organic sales. However, divestments and exchange rate fluctuations partially offset this, which negatively impacted overall revenue.
Operating profit for the quarter climbed to SEK 25 million (ยฃ1.8 million), an increase from SEK 18 million last year. Adjusted EBITA also more than doubled, reaching SEK 18 million (ยฃ1.3 million). Net profit after tax stood at SEK 16 million (ยฃ1.2 million), up from SEK 10 million in the same period of 2023.
Sverker Lindberg, President and CEO of HAKI Safety, described the performance as a result of operational efficiencies, despite headwinds from divestments and a volatile market. โOur focus on organic growth has paid off, and weโre encouraged by our improved margins,โ he said.
Year-to-date performance subdued
Despite the strong quarterly results, HAKIโs performance from January to September saw net sales fall 17 per cent to SEK 758 million (ยฃ55.8 million). The company attributed this to divestments and an 8 per cent organic decline.
However, gross margins improved to 35.7 per cent from 33.5 per cent last year, reflecting efforts to tighten operational controls.
The companyโs equity/assets ratio remained solid at 48 per cent, while net debt was reduced to SEK 312 million (ยฃ23 million) from SEK 333 million in 2023.
HAKI also confirmed a second dividend payment of SEK 0.45 (ยฃ0.03) per share, set for November 2024.
The firm, which specialises in scaffolding systems and workplace safety products, is listed on the Nasdaq Stockholm Small Cap and remains a key player in ensuring safe working environments across industries.