STOCKHOLM, Aug. 28, 2019 /PRNewswire/ -- Satisfying adjusted EBITA margin development

• Continued focus on profitability optimization and Ad-hoc development
• Adjusted EBITA is improved by 9.3 percent during the quarter compared to the same period in 2018
• The result follows the established plan and long term financial targets

Quarter 2: 1 April – 30 June 2019 

• Total revenue is increased by 4.1% to TSEK 219,602 (210,967), of which underlying organic growth amounts to 0.6%
• Net sales is increased by 3.9 % to TSEK 212,840 (204,946)
• Operating profit amounts to TSEK 25,087 (17,433), of which non-recurring costs have been charged of TSEK 0 (5,521)
• Profit/loss for the period amounts to TSEK 17,771 (8,232).
• Earnings per share is SEK 1.48 (2.08)
• Cash flow from current operations amounts to TSEK 10,658 (2,018).

Half-year: 1 January – 30 June 2019 

• Total revenue is increased by 5.7% to TSEK 431,283 (407,858), of which underlying organic growth amounts to 3.3%
• Net sales is increased by 5.9% to TSEK 419,656 (396,376)
• Operating profit amounts to TSEK 46,632 (35,396), of which non-recurring costs have been charged of TSEK 307 (6,956)
• Profit/loss for the period amounts to TSEK 32,237 (16,292).
• Earnings per share is SEK 2.69 (4.52)
• Cash flow from current operations amounts to TSEK -12,961 (-5,926), of which TSEK -23,604 is driven by the fact that consultancy costs for the IPO were not settled until 2019
• Cash and cash equivalents amount to TSEK 42,390 (30,027)

CEO comments:

During the second quarter the market conditions have remained stable in our principal markets and there are no signs of a reduced demand for our services.

We have seen a certain upturn in the segment oil and gas which has stabilised the Norwegian market. The large postal operators have continued to focus on unit cost reductions in volume-driven package flows, which has created an opportunity for us to further develop our express services which have great earning potentials. However, the major industrial operators, including the automotive industry, are still looking for cost-effective solutions which adds a certain amount of pressure to the margins of the Express Systemized segment.

Commercial initiatives and a favourable development in the Express Ad-hoc segment has ensured an EBITA margin of 11.4% (10.9%). The improved margin is driven by growth in the Express Ad-hoc segment and in particular for our Jetpak Direct service. Completed campaigns for consumer discretionary customers and new customers' general Ad-hoc needs as well as a targeted campaign for the healthcare sector have produced results.

Revenue development remains at the expected level of 4.1%. The total growth is primarily driven by our acquisition in Belgium, which is progressing entirely as planned. The underlying organic growth (0.6%) decreased during the second quarter. Efforts to optimise the profitability has resulted in reduced revenue from customers primarily in our Express Systemized segment. Our long-term growth targets remain unchanged since we have a strong sales pipeline which includes potential new orders as well as the impact of already signed but not yet activated agreements.

Our commercial initiatives have continued according to plan and we still have a strong focus on developing both the Ad-hoc and the Systemized segment through solutions sales and industry vertical expertise. New partnerships and supplier concepts are being prepared, which will potentially further improve our market position and our services in combination with an improved margin.

Following our successful acquisition and integration of Jetpak Belgium we are now exploring new potential acquisition targets in Europe and the Nordic countries, although we are still at the initial stage.

Based on our progress during the first six months of 2019 we expect to continue on our "journey" towards our long-term targets.

Kenneth Marx, CEO
Solna, 28 August 2019

This report has not been reviewed by the company's auditor.

The company's certified advisor is FNCA Sweden AB, e-mail: info@fnca.se, telephone +46-8-528-003-99.

The information was submitted for publication, through the contact persons mentioned below, on 28 August 2019 at 08.30 CET. This constitutes information that Jetpak Top Holding AB (publ) is required to publish under the EU Market Abuse Regulation.

Contact persons:

Kenneth Marx, CEO
phone +46-(0)-73-368-54-00
e-mail kenneth.marx@jetpak.com 

Peter Hallman, CFO
phone + 46-(0)-73-368-52-10
e-mail peter.hallman@jetpak.se 

About Jetpak:

Jetpak is the simple and fastest option for prioritized door-to-door deliveries. We offer solutions for both spontaneous transport needs and customized logistics. Jetpak primarily operates in the "courier, express, and parcel" market (the so-called CEP market), and the company's operations are mainly divided into an Express Ad-hoc and Express Systemized segment. Jetpak is represented in more than 170 locations around the Nordic region and Europe. Jetpak has a unique and flexible customer offering based on the availability of approximately 4,000 departures daily and an extensive distribution network with approximately 700 courier vehicles. This is something that enables us to offer the market to deliver the fastest and most comprehensive same-day service. This can be further supplemented with a unique tailor-made next-day service for system-based transports. Your delivery is our priority. We are Jetpak - simple, fastest & most precise. Jetpak Top Holding AB has been listed on Nasdaq First North Premier since December 5, 2018. The share is traded with the ISIN code SE0012012508 and under the short name JETPAK.

For more information, please visit: https://jetpakgroup.com 

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SOURCE Jetpak Top Holding AB