AQ Group AB

AQ

Equity

ISIN SE0022062196 / Valor 135165509

NASDAQ Nordic Exchange Stockholm, Equities (2024-09-16)

SEK 128.32-1.85%

AQ Group AB
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About company

AQ Group AB, established in 1994 through a merger and a series of acquisitions, is a global manufacturer that operates in the industrial sector, providing a wide range of components and systems. The company is organized into two main segments: System and Component. The System segment encompasses Electric Cabinets and System Products, while the Component segment includes Injection Molding, Inductive Components, Wiring Systems, and Sheet Metal Processing. Since its inception, AQ Group has demonstrated consistent and rapid growth alongside good profitability. The company, which was initially listed on the Swedish stock exchange AktieTorget in 2001 and later moved to Nasdaq Stockholm in 2017, boasts a workforce of approximately 9,000 employees, with 85% based in growth countries outside Sweden. With an annual turnover of around €790 million, AQ Group has established itself as a key player in the industry, catering to industrial customers with high demands across various sectors. Through strategic acquisitions, including transformer factories, mechanical workshops, and companies specializing in wiring systems and metal processing, AQ Group has significantly expanded its global footprint and product offerings, reinforcing its commitment to quality and innovation in the industrial manufacturing space.

Summarized from source with an LLMView SourceSector: Technology

Revenue Overview

In the first quarter of 2024, AQ Group AB reported a slight decrease in net sales, totaling SEK 2,225 million compared to SEK 2,253 million in the same period the previous year. This represents a decrease of 1%, with organic growth declining by 2.3% and currency effects contributing positively by 1.1%.

Profitability Enhancement

AQ Group AB's operating profit (EBIT) for the first quarter of 2024 increased by 15% to SEK 223 million, up from SEK 194 million in the corresponding quarter of the previous year. This improvement in profitability was primarily due to higher delivery precision and productivity enhancements across the company's operations.

Net Profit and Earnings Per Share

The company's profit before tax (EBT) grew by 20% to SEK 221 million in the first quarter of 2024, up from SEK 184 million in the first quarter of 2023. Consequently, profit after tax also rose, reaching SEK 185 million compared to SEK 159 million in the previous year. Earnings per share before dilution increased to SEK 10.06 from SEK 8.61.

Dividend Proposal and Share Split

The Board of Directors of AQ Group AB has proposed a dividend of SEK 6.66 per share for the first quarter of 2024, which is double the dividend of SEK 3.33 per share from the same quarter the previous year. Additionally, a share split of 5:1 has been proposed to increase the accessibility of the shares.

Acquisition and Strategic Expansion

During March 2024, AQ Group AB signed an agreement to acquire JIT Mech, which includes two production units specializing in welding and processing of large complex components. This acquisition aligns with AQ Group's strategic focus on electrification, the defense industry, and forestry automation, and is expected to close in the second quarter of 2024.

Summarized from source with an LLMView Source

Key figures

56.5%1Y

98.6%3Y

243%5Y

Performance

33.5%1Y

35.0%3Y

36.0%5Y

Volatility