BTS Group Follow

P R E S S  R E L E A S E

Stockholm, November 11, 2022

12 percent growth in the third quarter

Third quarter 2022

• Net sales amounted to MSEK 617 (478). Adjusted for changes in foreign exchange rates, net sales increased 12 percent.
• Operating profit (EBITA) amounted to MSEK 66 (114). Excluding the forgiven PPP loan during 2021, the operating profit increased 2 percent to MSEK 66 (64).
• Operating margin (EBITA margin) was 10.7 percent (23.9). Excluding the forgiven PPP loan, the 2021 operating margin for the third quarter was 13.5 percent.
• Profit after tax amounted to MSEK 34 (85). Excluding the forgiven PPP loan during 2021, the profit after tax decreased 4 percent to MSEK 34 (36).
• Earnings per share amounted to SEK 1.78 (4.42). Excluding the forgiven PPP loan during 2021, the earnings per share decreased 4 percent to SEK 1.78 (1.85).

January 1 – September 30, 2022

• Net sales amounted to MSEK 1,805 (1,346). Adjusted for changes in foreign exchange rates, net sales increased 20 percent, whereof 17 percent was organic.
• Operating profit (EBITA) amounted to MSEK 234 (238). Excluding the forgiven PPP loan during 2021, the operating profit increased 24 percent to MSEK 234 (188).
• Operating margin (EBITA margin) was 13.0 percent (17.7). Excluding the forgiven PPP loan, the 2021 operating margin for the same period was 14.0 percent.
• Profit after tax amounted to MSEK 131 (156). Excluding the forgiven PPP loan during 2021, the profit after tax increased 23 percent to MSEK 131 (106).
• Earnings per share amounted to SEK 6.75 (8.08). Excluding the forgiven PPP loan during 2021, the earnings per share increased 23 percent to SEK 6.75 (5.51).

CEO comments, Jessica Skon

“The third quarter currency adjusted growth was 12 percent and the operating profit increased 2 percent. BTS Europe, BTS Other markets and APG continued to have both double-digit revenue growth and increased profit. The slowdown in growth and profit was due solely to BTS North America operations.”

Outlook for 2022

“The outlook for 2022 is favorable. Consistent with the last quarter’s report, we believe that earnings will be significantly higher than 2021.”

For more information, please contact:

Michael Wallin
Head of investor relations
BTS Group AB
michael.wallin@bts.com
+46-58 70 70 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 November 11, 2022.

About BTS Group AB

BTS is a global professional services firm headquartered in Stockholm, Sweden, with about 1,200 professionals in 34 offices located on six continents. For over 30 years, we’ve been partnering with our clients to enable strategy execution. At BTS, we believe that success comes from people understanding how their daily work impacts business results, so we provide the skills, tools, and knowledge your people need to take the right action at the right moment.

We are experts in behavior change and care deeply about both delivering results for our clients and ensuring that their people do the best work of their lives. Our engagements range from embedded multi-year transformation projects to brief, targeted capability development.

It’s strategy made personal.

Our primary practice areas include Change and transformation, Leadership development and Sales and marketing. In support of offerings from our primary practice areas, we have centers of excellence in Assessments for talent selection and development, Business acumen and innovation skill-building and Coaching as a practical tool to shift mindsets and turn strategy into action.

We’ve partnered with over 1,200 organizations, including over 40 of the world’s 100 largest global corporations. Our major clients are some of the most respected names in business: Salesforce, SAP, Abbott, Tetra Pak, EY, Tencent, Vale, and BHP.

BTS is a public company listed on the Nasdaq Stockholm and trades under the symbol BTS B.

For more information, please visit www.bts.com.

Attachment

• BTS_Q322_EN

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