Highlights third quarter 2017:
- Underlying revenue of NOK 1 710 million was in line with third quarter last year
- Underlying EBITDA decreased to NOK 192 million (221) in the quarter.
- Portfolio adjustments successfully completed
Saferoad Holding ASA recorded stable underlying revenue of 1 710 million for the third quarter 2017 compared with NOK 1 701 last year. Revenue increased by 4% in Road Infrastructure and decreased by 1% in Road Safety.
Underlying EBITDA for the quarter decreased to NOK 192 million (221). The reduction was mainly driven by negative results in the road restraint systems business in Sweden and a weak Road Infrastructure business in the Nordics. The underlying EBITDA margin was 11.2% (13.0%).
“The third quarter performance was mixed. While there were several positive developments in the quarter, there were also a few parts of the Group that performed below my expectations. However, we have good traction in several of our key markets and we continue to execute our strategic agenda, taking active steps to develop our business portfolio and build a more profitable company”, says Morten Holum, CEO in Saferoad.
Saferoad posted net income of NOK 84 million in the quarter, up from NOK 38 million in the previous year. The improvement is mainly a result of lower financial costs.
For more information, please contact:
Morten Holum, CEO
+ 47 99 50 99 30
Svein Vestermo, CFO
+ 47 92 68 58 34
Presentation of the results
Morten Holum (CEO) and Svein Vestermo (CFO) will present the results at CET 08:30 am at Felix Conference Center, Bryggetorget 3, 0250 Oslo. The presentation will be held in English and transferred via webcast at www.saferoad.com. The webcast will be open for questions from participants.