BTS Group AB (publ) Interim report January 1 – June 30, 2020
BTS achieves positive earnings despite a quarter in crisis
January 1 – June 30, 2020
- Net sales amounted to MSEK 695 (853). Adjusted for changes in foreign exchange rates, sales decreased 20 percent.
- Operating profit (EBITA) decreased 76 percent to MSEK 24 (102).
- Operating margin (EBITA margin) was 3.5 percent (12.0).
- Profit after tax decreased 94 percent to MSEK 4 (63).
- Earnings per share decreased 94 percent to SEK 0.21 (3.31).
Second quarter 2020
- Net sales amounted to MSEK 322 (477). Adjusted for changes in foreign exchange rates, sales decreased 32 percent.
- Operating profit (EBITA) decreased 83 percent to MSEK 12 (72).
- The operating margin (EBITA margin) was 3.7 percent (15.1).
- Profit after tax decreased 98 percent to MSEK 1 (47).
- Earnings per share decreased 98 percent to SEK 0.05 (2.46).
- The global pandemic has made all deliveries of physical training impossible, with a loss of revenue of 70 percent during the second quarter as a result.
- BTS has been able to compensate for more than half of this immediate loss of revenue with a comprehensive investment in digital and virtual solutions.
- BTS has elected to keep its personnel with the aim of achieving growth and higher earnings moving forward, but has lowered total costs with 23 percent by selective cuts during the second quarter compared to last year.
CEO comment
“We have conducted an extensive marketing campaign and internal training focused on virtual and digital solutions. In doing so, we have compensated for more than half of the loss of revenue during the second quarter and markedly elevated our position in this growth market.”
Outlook
We anticipate that the market for BTS's services will continue to improve.
For more information, please contact:
Michael Wallin
Head of Investor Relations
BTS Group AB
michael.wallin@bts.com
+46-8-587 070 02
+46-708-78 80 19
This information is information that BTS Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on August 18, 2020.
About BTS Group AB (publ)
BTS is a global professional services firm headquartered in Stockholm, Sweden, with more than 860 professionals in 35 offices located on six continents. We focus on the people side of strategy, working with leaders at all levels to help them make better decisions, convert those decisions to actions and deliver results. At our core, we believe people learn best by doing. For more than 30 years, we’ve been designing fun, powerful experiences™ that have a profound and lasting impact on people and their careers. We inspire new ways of thinking, build critical capabilities and unleash business success. It’s strategy made personal.
We serve a wide range of client needs, including: Strategy execution, Leadership development programs, Assessment, Developing business acumen, Transforming sales organizations, Coaching, and Digital solutions, events and services.
We partner with nearly 450 organizations, including over 30 of the world’s 100 largest global corporations. Our major clients are e.g.: ABB, Chevron, Coca-Cola, Ericsson, EY, HP, Mercado Libre, Salesforce.com, SAP, and Tencent.
BTS is a public company listed on the Nasdaq Stockholm exchange and trades under the symbol BTS B.
For more information, please visit www.bts.com.
Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation.
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