{"id":47469,"date":"2023-11-29T01:20:00","date_gmt":"2023-11-29T00:20:00","guid":{"rendered":"https:\/\/www.stille.se\/se\/mfn_news\/stille-har-ingatt-avtal-om-att-forvarva-fehling-instruments\/"},"modified":"2024-04-14T16:47:43","modified_gmt":"2024-04-14T14:47:43","slug":"stille-har-ingatt-avtal-om-att-forvarva-fehling-instruments","status":"publish","type":"mfn_news","link":"https:\/\/www.stille.se\/se\/nyheter\/stille-har-ingatt-avtal-om-att-forvarva-fehling-instruments\/","title":{"rendered":"Stille har ing\u00e5tt avtal om att f\u00f6rv\u00e4rva Fehling Instruments"},"content":{"rendered":"
Stille AB (publ) ("Stille" eller "Bolaget") har ing\u00e5tt ett avtal om att f\u00f6rv\u00e4rva samtliga utest\u00e5ende aktier i Fehling Instruments GmbH & Co. KG och Fehling Verwaltungs GmbH (tillsammans "Fehling") f\u00f6r en k\u00f6peskilling om 36 MEUR (cirka 410 MSEK) p\u00e5 en kassa- och skuldfri basis. F\u00f6rv\u00e4rvet \u00e4r villkorat av att Bolaget erh\u00e5ller tillr\u00e4cklig finansiering f\u00f6r genomf\u00f6rande av f\u00f6rv\u00e4rvet och Bolagets styrelse avser s\u00e5ledes att fatta beslut om en riktad emission av aktier villkorat av bolagsst\u00e4mmans efterf\u00f6ljande godk\u00e4nnande. Genom f\u00f6rv\u00e4rvet breddar Stille avsev\u00e4rt sitt produktutbud, globala n\u00e4rvaro och FoU-kapacitet. Fehling redovisade \u00e5r 2022 en f\u00f6rs\u00e4ljning om 15,8 MEUR och justerad EBITDA om cirka 4,8 MEUR. F\u00f6rv\u00e4rvet av Fehling f\u00f6rv\u00e4ntas slutf\u00f6ras i slutet januari 2024, f\u00f6rutsatt att alla villkor har uppfyllts.<\/strong><\/div>\n

Bakgrund och f\u00f6rv\u00e4rv av Fehling<\/span><\/h3>\n

L\u00e5ng historia av tillverkning av kirurgiska premiuminstrument<\/span><\/h4>\n

Fehling \u00e4r ett familje\u00e4gt tyskt f\u00f6retag, grundat 1996, som utvecklar och s\u00e4ljer medicinska instrument av h\u00f6g kvalitet. Fehling har en stark marknadsposition med direktverksamhet i Tyskland, Schweiz, USA, Singapore, F\u00f6renade Arabemiraten och Malaysia. Med \u00f6ver 30 \u00e5rs branscherfarenhet str\u00e4var Fehling efter att tillhandah\u00e5lla ett brett utbud av premiumprodukter till kirurger med fokus p\u00e5 kr\u00e4vande specialiteter som \u00f6ppen och minimalinvasiv hj\u00e4rt-, thorax-, neuro- och ryggkirurgi. Fehling har en global f\u00f6rs\u00e4ljningsn\u00e4rvaro kombinerat av direktf\u00f6rs\u00e4ljning och distribut\u00f6rer. F\u00f6rs\u00e4ljningstillv\u00e4xten uppgick under 2022 till 9 procent med en f\u00f6rs\u00e4ljningsmix f\u00f6rdelat mellan traditionella instrument cirka 72 procent, mikroinstrument cirka 18 procent samt MICS cirka 10 procent.<\/span>1<\/sup><\/span><\/span><\/p>\n

Breddat produkterbjudande och st\u00e4rkt position inom kirurgiska instrument<\/span><\/h4>\n

F\u00f6rv\u00e4rvet \u00e4r i linje med Stilles strategiska m\u00e5l f\u00f6r tillv\u00e4xt och belyser m\u00f6jligheterna till konsolidering i den nischade och fragmenterade marknaden f\u00f6r premiumkirurgiska instrument. Genom f\u00f6rv\u00e4rvet kommer Stille att avsev\u00e4rt bredda sitt produktutbud. Genom Fehlings direkta f\u00f6rs\u00e4ljningskanaler och befintliga distribut\u00f6rsrelationer kommer Stille ocks\u00e5 \u00f6ka sin globala n\u00e4rvaro och ytterligare st\u00e4rka sin position p\u00e5 strategiskt viktiga marknader.\u00a0<\/span><\/span><\/span><\/p>\n

"F\u00f6rv\u00e4rvet av Fehling inneb\u00e4r att vi st\u00e4rker v\u00e5rt erbjudande som den mest h\u00f6gkvalitativa tillverkaren av kirurgiska instrument i premiumsegmentet inom utvalda, nischade kliniska segment. Detta tillf\u00f6r ett betydande v\u00e4rde till Stilles verksamhet. Stilles kirurgiska produkterbjudande kompletteras nu starkt och respektive f\u00f6retags distributionskanaler ger betydande m\u00f6jligheter till \u00f6kad f\u00f6rs\u00e4ljning\u201d, kommenterar Torbj\u00f6rn Sk\u00f6ld, VD, Stille.<\/span><\/span><\/span><\/p>\n

Det sammanslagna bolaget2<\/sup><\/span><\/h4>\n

Det sammanslagna bolaget omsatte f\u00f6r r\u00e4kenskaps\u00e5ret 2022 cirka 426 (352) MSEK med justerad EBITDA om cirka 97 (65) MSEK. Koncernen kommer, efter f\u00f6rv\u00e4rvet, att ha direktverksamhet i Sverige, Tyskland, Schweiz, USA, Singapore, F\u00f6renade Arabemiraten och Malaysia. Fehling kommer att bli en del av Stilles aff\u00e4rsenhet Surgical Instruments. Efter f\u00f6rv\u00e4rvet f\u00f6rv\u00e4ntas Stilles vinst per aktie \u00f6ka avsev\u00e4rt. Gerald Fehling, VD f\u00f6r Fehling, kommer att beh\u00e5lla sin position och ing\u00e5 i Stilles ledningsgrupp.\u00a0<\/span><\/span><\/span><\/p>\n

\u201dJag ser med tillf\u00f6rsikt fram emot att vara en del av Stilles organisation, integrera v\u00e5ra verksamheter och realisera synergier" kommenterar Gerald Fehling, VD, Fehling.<\/span><\/span><\/span><\/p>\n

"Vi har en tydlig strategi och tillv\u00e4xtagenda inom Stille. Det \u00e4r gl\u00e4djande att vi nu har lyckats f\u00f6rv\u00e4rva ytterligare en verksamhet som uppfyller v\u00e5ra kriterier vad g\u00e4ller fokus, l\u00f6nsamhet och tillv\u00e4xtpotential. F\u00f6rv\u00e4rvet \u00e4r ett viktigt steg i Stilles p\u00e5g\u00e5ende resa mot att vara en ledande akt\u00f6r inom premiumsegmentet f\u00f6r kirurgiska instrument, s\u00e4ger Lars Kvarnhem, styrelseordf\u00f6rande Stille.<\/span><\/span><\/span><\/p>\n

1<\/sup>V\u00e4nligen se bilagan med finansiell information om Fehling som utg\u00f6r en del av detta pressmeddelande.<\/span><\/span>
\n2<\/sup>EUR\/SEK p\u00e5 11,43.<\/span><\/p>\n

Villkor f\u00f6r transaktionen och finansiering<\/span><\/span><\/h3>\n

F\u00f6rv\u00e4rvet \u00e4r villkorat av att Bolaget erh\u00e5ller tillr\u00e4cklig finansiering f\u00f6r genomf\u00f6rande av f\u00f6rv\u00e4rvet och Bolagets styrelse avser s\u00e5ledes att fatta beslut om en riktad emission av aktier villkorat av bolagsst\u00e4mmans efterf\u00f6ljande godk\u00e4nnande. K\u00f6peskillingen f\u00f6r Fehling utg\u00f6r ett kontant- och skuldfritt v\u00e4rde om 36 MEUR (cirka 410 MSEK) och avses att finansieras med kontanta medel fr\u00e5n den riktade emissionen. Stille avser att genomf\u00f6ra en riktad nyemission till institutionella investerare med avvikelse fr\u00e5n aktie\u00e4garnas f\u00f6retr\u00e4desr\u00e4tt f\u00f6r att finansiera vederlaget. F\u00f6rv\u00e4rvet av Fehling f\u00f6rv\u00e4ntas slutf\u00f6ras i slutet januari 2024 f\u00f6rutsatt att ovan villkor \u00e4r uppfyllt. Fehling kommer att konsolideras in i Stille vid slutf\u00f6randet av f\u00f6rv\u00e4rvet.<\/span><\/span><\/span><\/span><\/p>\n

Stille har utsett Pareto Securities (\u201dPareto\u201d) till Sole Manager och Bookrunner i samband med den riktade emissionen av aktier till en utvald grupp investerare (dvs. en s.k. club deal), som kommer att offentligg\u00f6ras separat omedelbart efter publiceringen av detta pressmeddelande.<\/span><\/span><\/span><\/span><\/p>\n

R\u00e5dgivare<\/span><\/span><\/h3>\n

Evli Corporate Finance AB har agerat finansiell r\u00e5dgivare till Stille med anledning av f\u00f6rv\u00e4rvet.<\/span><\/span><\/p>\n

Torsh\u00e4lla, Sverige, 29 november 2023
\nStille AB (publ)<\/span><\/span><\/span><\/p>\n

F\u00f6r ytterligare information, v\u00e4nligen kontakta:<\/strong>
\nTorbj\u00f6rn Sk\u00f6ld
\nVD och koncernchef
\n+46 (0)70 316 63 91 | torbjorn.skold@stille.se\u00a0<\/span><\/span><\/span><\/span><\/p>\n

Niklas Carl\u00e9n
\nCFO
\n+46 (0)73 087 49 70 | niklas.carlen@stille.se\u00a0<\/span><\/span><\/span><\/span><\/p>\n

Detta \u00e4r information som Stille AB (publ) \u00e4r skyldigt att offentligg\u00f6ra enligt EU:s marknadsmissbruksf\u00f6rordning. Informationen l\u00e4mnades, genom ovanst\u00e5ende kontaktpersoners f\u00f6rsorg, f\u00f6r offentligg\u00f6rande den 29 november 2023 kl. 01:20 CET.<\/span><\/em><\/span><\/p>\n

Om Stille AB (publ)<\/span><\/span><\/h4>\n

Stille AB (publ) utvecklar, tillverkar och marknadsf\u00f6r medicintekniska produkter f\u00f6r specialistkirurger v\u00e4rlden \u00f6ver. Stille grundades 1841 och \u00e4r ett av v\u00e4rldens \u00e4ldsta f\u00f6retag inom medicinteknik. Stilles prioriterade aff\u00e4rsomr\u00e5den \u00e4r kirurgiska instrument och operationsbord. Stilles kirurgiska instrument anv\u00e4nds framf\u00f6rallt vid olika typer av \u00f6ppen kirurgi. N\u00e4r det g\u00e4ller minimalinvasiva ingrepp \u00e4r operationsborden imagiQ2 och Medstone nyckelprodukter. Bolaget har en stabil bas med ett starkt varum\u00e4rke och v\u00e4lk\u00e4nda produkter av erk\u00e4nt h\u00f6g kvalitet. Aktien \u00e4r noterad p\u00e5 marknadsplatsen First North Growth Market under kortnamnet \u201dSTIL\u201d med Eminova AB som Certified Adviser. Eminova Fondkommission AB + 46 8 684 211 10, adviser@eminova.se. F\u00f6r mer information, bes\u00f6k www.stille.se.<\/span><\/span><\/span><\/p>\n

Bilaga<\/span><\/span><\/h3>\n

Stille rapporterar enligt redovisningen IFRS och Fehling enligt tysk GAAP. F\u00f6ljande information utg\u00f6r en sammanslagning av respektive bolags redovisade finansiella information utan justeringar i skillnader mellan till\u00e4mpade redovisningsstandarder. Konsoliderad finansiell information som rapporteras av Stille efter f\u00f6rv\u00e4rvet genomf\u00f6rts kan komma att skilja sig v\u00e4sentligt fr\u00e5n den kombinerade finansiella information som \u00e5terfinns h\u00e4ri.<\/span><\/span><\/span><\/p>\n

Fehlings finansiella \u00f6versikt \u2013 Konsoliderat resultat f\u00f6r r\u00e4kenskaps\u00e5ren 2019-2022, H1 2023 och LTM (06\/2023)<\/span><\/strong><\/p>\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
(MEUR)<\/span><\/span><\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n20192<\/sup><\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n20202<\/sup><\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n2021<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n2022<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nH1 2023<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nLTM (06\/2023)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
Oms\u00e4ttning<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n13,36<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n13,73<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n14,46<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n15,75<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n8,57<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n17,21<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Bruttoresultat<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n7,44<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n7,45<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n8,31<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n10,32<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n5,43<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n10,90<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
Marginal<\/em><\/span><\/span><\/span><\/span><\/span><\/td>\n55,7%<\/span><\/span><\/span><\/span><\/span><\/td>\n54,3%<\/span><\/span><\/span><\/span><\/span><\/td>\n57,5%<\/span><\/span><\/span><\/span><\/span><\/td>\n65,5%<\/span><\/span><\/span><\/span><\/span><\/td>\n63,4%<\/span><\/span><\/span><\/span><\/span><\/td>\n63,3%<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Operativa kostnader<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(5,03)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(4,95)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(5,10)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(5,65)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(2,80)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(5,75)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
EBITDA (justerad)1<\/sup><\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n2,51<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n2,52<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n3,31<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n4,80<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n2,69<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n5,27<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
EBITDA-marginal<\/em><\/span><\/span><\/span><\/span><\/span><\/td>\n18,8%<\/span><\/span><\/span><\/span><\/span><\/td>\n18,4%<\/span><\/span><\/span><\/span><\/span><\/td>\n22,9%<\/span><\/span><\/span><\/span><\/span><\/td>\n30,5%<\/span><\/span><\/span><\/span><\/span><\/td>\n31,4%<\/span><\/span><\/span><\/span><\/span><\/td>\n30,6%<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
EBIT (justerad)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n2,46<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n2,47<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n3,20<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n4,73<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n2,66<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n5,20<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
EBIT-marginal<\/em><\/span><\/span><\/span><\/span><\/span><\/td>\n18,4%<\/span><\/span><\/span><\/span><\/span><\/td>\n18,0%<\/span><\/span><\/span><\/span><\/span><\/td>\n22,1%<\/span><\/span><\/span><\/span><\/span><\/td>\n30,0%<\/span><\/span><\/span><\/span><\/span><\/td>\n31,0%<\/span><\/span><\/span><\/span><\/span><\/td>\n30,2%<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Nettoresultat3<\/sup><\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n–<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n–<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n2,25<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n4,12<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n2,25<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n4,21<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\nKombinerade resultatr\u00e4kningar \u2013 Hel\u00e5r 2021, Hel\u00e5r 2022, och LTM (06\/2023)<\/span><\/strong><\/span><\/p>\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\nStille4<\/sup><\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nFehling5,6<\/sup><\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nKombinerat<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
<\/td>\nReviderat<\/span><\/em><\/span><\/span><\/span><\/span><\/td>\nReviderat<\/span><\/em><\/span><\/span><\/span><\/span><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(MSEK)<\/span><\/span><\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nHel\u00e5r 2021<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nHel\u00e5r 2022<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nLTM (06\/2023)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nHel\u00e5r 2021<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nHel\u00e5r 2022<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nLTM (06\/2023)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nHel\u00e5r 2021<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nHel\u00e5r 2022<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\nLTM (06\/2023)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
Oms\u00e4ttning<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n187,1<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n246,3<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n268,9<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n165,3<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n180,0<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n196,8<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n352,4<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n426,3<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n465,7<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Bruttoresultat<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n83,5<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n111,6<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n117,5<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n95,0<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n118,0<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n124,6<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n178,5<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n229,6<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n242,1<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
Marginal<\/em><\/span><\/span><\/span><\/span><\/span><\/td>\n44,6%<\/span><\/span><\/span><\/span><\/span><\/td>\n45,3%<\/span><\/span><\/span><\/span><\/span><\/td>\n43,7%<\/span><\/span><\/span><\/span><\/span><\/td>\n57,5%<\/span><\/span><\/span><\/span><\/span><\/td>\n65,5%<\/span><\/span><\/span><\/span><\/span><\/td>\n63,3%<\/span><\/span><\/span><\/span><\/span><\/td>\n50,7%<\/span><\/span><\/span><\/span><\/span><\/td>\n53,9%<\/span><\/span><\/span><\/span><\/span><\/td>\n52,0%<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Operativa kostnader<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(63,4)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(79,2)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(82,4)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(58,5)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(64,0)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(65,2)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(121,9)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(143,2)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n(147,6)<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
EBITDA<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n26,8<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n42,1<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n47,2<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n37,8<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n54,9<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n60,2<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n64,6<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n97,0<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n107,4<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
EBITDA-marginal<\/em><\/span><\/span><\/span><\/span><\/span><\/td>\n14,3%<\/span><\/span><\/span><\/span><\/span><\/td>\n17,1%<\/span><\/span><\/span><\/span><\/span><\/td>\n17,6%<\/span><\/span><\/span><\/span><\/span><\/td>\n22,9%<\/span><\/span><\/span><\/span><\/span><\/td>\n30,5%<\/span><\/span><\/span><\/span><\/span><\/td>\n30,6%<\/span><\/span><\/span><\/span><\/span><\/td>\n18,3%<\/span><\/span><\/span><\/span><\/span><\/td>\n22,7%<\/span><\/span><\/span><\/span><\/span><\/td>\n23,1%<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
EBIT<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n20,1<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n32,4<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n35,1<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n36,5<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n54,0<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n59,4<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n56,6<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n86,4<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n94,5<\/strong><\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n
EBIT-marginal<\/em><\/span><\/span><\/span><\/span><\/span><\/td>\n10,7%<\/span><\/span><\/span><\/span><\/span><\/td>\n13,2%<\/span><\/span><\/span><\/span><\/span><\/td>\n13,1%<\/span><\/span><\/span><\/span><\/span><\/td>\n22,1%<\/span><\/span><\/span><\/span><\/span><\/td>\n30,0%<\/span><\/span><\/span><\/span><\/span><\/td>\n30,2%<\/span><\/span><\/span><\/span><\/span><\/td>\n16,1%<\/span><\/span><\/span><\/span><\/span><\/td>\n20,3%<\/span><\/span><\/span><\/span><\/span><\/td>\n20,3%<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Not 1) Justerat f\u00f6r poster av eng\u00e5ngskarakt\u00e4r.
\nNot 2) Finansiell information f\u00f6r 2019 och 2020 var inte en del av den finansiella due diligence, faktiska siffror kan variera.
\nNot 3) D\u00e5 bolagsstrukturen inom Fehling-koncernen inneh\u00e5ller ett kommanditbolag, d\u00e4r kommanditbolagets \u00e4gare erl\u00e4gger skatt, s\u00e5 \u00e4r historiska nettotresultatet inte n\u00f6dv\u00e4ndigtvis representativt eftersom resultaten fram\u00f6ver kommer p\u00e5verkas av en annan skattesats n\u00e4r Fehling integreras med Stille.
\nNot 4) Reviderade finansiella rapporter.\u00a0
\nNot 5) Fehlings f\u00f6renklade resultatr\u00e4kning.
\nNot 6) EUR\/SEK p\u00e5 11,43<\/span><\/span><\/p>\n

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