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Strong winter impacts first quarter 2018 results

Highlights first quarter:

  • Underlying revenue decreased by 1 per cent to NOK 898 million
  • Underlying EBITDA decreased from NOK – 56 million to NOK – 96 million, mainly driven by the strong winter in the Nordics
  • The Group acquired Tubosider France in February, strengthening Saferoad’s position in the European road infrastructure market

Saferoad Holding ASA recorded stable underlying revenue of NOK 898 million (NOK 904 million) for the first quarter 2018. Revenue increased in Road Safety and decreased Road Infrastructure.

Underlying EBITDA for the quarter decreased to NOK -96 million. The reduction was driven by strong winter conditions in the Nordics, which had negative impact on earnings in Road Safety Nordic. Road Safety Europe and Road Infrastructure performed in line with last year.

 “The delayed start-up of the main season impacted the first quarter negatively, but we are well prepared to capitalise on a promising market environment for the remaining part of the year”, says CEO Morten Holum.

Saferoad posted a net loss of NOK -114 million in the quarter, compared to NOK -130 million in the first quarter last year. The change was mainly a result of lower net financial expense in 2018 compared to last year, which was partly offset by lower earnings in Road Safety Nordic. This corresponds to earnings per share of NOK -1.67, compared to  NOK -6.03 last year.

 

For further information, please contact:
Morten Holum, CEO Saferoad Group
+47 99 50 99 30


>>View report and webcast here