StageAcquired | Acquired
About Quatro Air
Quatro Air produces air purifiers, dust collectors, fume extractors, and industrial air cleaners. It is based in Pointe-Claire, Quebec. On November 15th, 2021, Quatro Air Technologies was acquired by Absolent Air Care Group. The terms of the transaction were not disclosed.
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Latest Quatro Air News
Aug 17, 2022
05/19 08/17/2022 | 07:24am EDT Message : 2 1 April - 30 June 2022 Net sales amounted to SEK 350.7 (269.6) million, which corresponds to a growth of 30.1 (37.2) %. Operating result before amortizations and depreciations (EBITDA) increased by 45.5 % and amounted to SEK 73.4 (50.4) million, corresponding to a margin of 20.9 (18.7) %. Operating result (EBIT) increased by 54.2 % and amounted to SEK 63.4 (41.1) million, corresponding to a margin of 18.1 (15.2) %. Earnings per share amounted to SEK 3.75 (2.72). Cash flow from operating activitites amounted to SEK 20.6 (34.2) million. 1 January - 30 June 2022 Net sales amounted to SEK 672.8 (502.7) million, which corresponds to a growth of 33.8 (5.7) %. Operating result before amortizations and depreciations (EBITDA) increased by 59.0 % and amounted to SEK 135.5 (85.2) million, corresponding to a margin of 20.1 (17.0) %. Operating result (EBIT) increased by 73.5 % and amounted to SEK 115.3 (66.5) million, corresponding to a margin of 17.1 (13.2) %. Earnings per share amounted to SEK 7.17 (4.33). Cash flow from operating activitites amounted to SEK 62.9 (61.9) million. 002 73 374 20.9 73 374 20.9 63 381 63 381 20 620 -395 506 11 320 968 460 Adjusted key ratios are excluding items affecting comparability for the full year 2021 and rolling 12 months Jul 2021-Jun 2022. Key ratios for these periods have been adjusted for items affecting com parability, partly a negative impact on the result of SEK 8.1 million related to the divestment of Bristol and partly costs of SEK 4.6 million related to restructuring of parts of the operations in China and our project-based business in the UK. No adjustments have been made for the other periods. Absolent Air Care Group The strong trend continues During the second quarter of the year, the Group reported the hig hest net sales and the highest operating result for a single quarter ever, a clear sign of strength given the current challenges on the world market. Net sales increased by 30.1 % to SEK 350.7 (269.6) million and thanks to continued improvements of the operating margin, the operating result before amortizations and deprecia tions (EBITDA) increased by 45.5 % to SEK 73.4 (50.4) million. The Group's own sales companies have made strong efforts by winning deals and gaining market shares, and despite a season ally calmer summer period, the Group's business areas, Industrial and Commercial Kitchen, have strong order books. However, the challenges of managing component supply and inflation are still palpable. Our efforts to manage the disruptions are becoming increasingly effective, but there is still a time lag from when cost increases from suppliers arise to corresponding price increases for customers can be implemented, which temporarily puts pressure on the gross margin. Due to the component supply challenges, we have chosen to slightly increase the Group inventory levels to ensu re security of supply to customers. Industrial The growth in the quarter for the Group's largest business area Industrial amounted to 36.3 % and the operating margin before amortizations and depreciations (EBITDA) amounted to 23.2 %, an increase by almost four percentage points compared to the same quarter previous year. Organically, the growth has been strongest in the EMEA region, where mainly the Group's premium brand Absolent has had great success. Region APAC experienced a slightly slower development during the quarter, mainly due to severely limited delivery capacity as our warehouses in Shanghai for the Chinese market have largely been affected by the extensive lockdowns in the country. Sales increased sharply in the Americas region, mainly because the newly acquired Canadian companies Quatro and Aerofil have developed very positively and contribute to growth as well as margin improvement. Commercial Kitchen The Commercial Kitchen business area reported a growth of 8.2 % compared to the same quarter last year and sales in line with the first quarter of the year. The challenges from the first quarter with sharp, rapid increases in material prices have continued, causing the business area to report a gross margin four percentage points lower that previous year. The challenges mainly relate to the Swedish market, where we have own production and a large share of contracts with long order cycles. However, the order intake for the business area is still on a good level and we expect to see a gradual improvement of the gross margin during the autumn. Altogether, we are proud of a record-strong quarter and look with confidence on the future in terms of both growth as well as margin improvement. Axel Berntsson, CEO and President Gothenburg, in August 2022 Net sales Net sales for the Group amounted to SEK 350.7 (269.9) million, which corresponds to a growth of 30.1 (37.2) %. The Industrial business area showed the largest growth, with a net sales increase from SEK 209.6 million to SEK 285.7 million. For Commer cial Kitchen, the Group's other business area, net sales amounted to SEK 65.0 (60.1) million. Net sales increased in the regions EMEA and Americas, while APAC was on par with the previous year. Result Operating result before amortizations and depreciations (EBITDA) amounted to SEK 73.4 (50.4) million, which corresponds to a margin of 20.9 (18.7) %. Operating result (EBIT) amounted to SEK 63.4 (41.1) million with an operating margin of 18.1 (15.2) %. Transla tion effects of foreign Group companies' results have impacted the operating result (EBIT) for the period with 1.9 (1.2) million. The result improvement is driven by the Industrial business area, for which operating result (EBIT) increased from SEK 33.8 million to SEK 58.8 million. The increase is an effect of both improved margin and in creased net sales. For Commercial Kitchen, operating result (EBIT) amounted to SEK 7.9 (11.1) million, where the decrease mainly is an effect of the combination of sharp, rapid material price increases and long order cycles. The operating result also includes gains from a real estate sale finalized during the quarter. The gain amounts to SEK 3.5 million and is recorded as other operating income. Net financial items amounted to SEK -7.4(-2.9) million, of which exchange rate effects amounted to SEK 1.0 (-0.2) million. These effects are mainly related to the credit facility in foreign currency. Net financial items for the quarter also include an impairment of a financial receivable of SEK 5.4 million related to a transfer of assets made during the previous year. Result after tax amounted to SEK 42.5 (30.8) million. Investments During the period April-June, the Group has invested a total of SEK 11.1 (3.9) million in intangible and tangible fixed assets, where this period's investments refer to capitalized development costs, software and machinery. Cash flow Cash flow from operating activitites before changes in working capital amounted to SEK 60.0 (37.9) million and the cash flow after changes in working capital amounted to SEK 20.6 (34.2) million. The lower cash flow has been negatively affected by mainly larger pay ments of current liabilities as well as increased inventory. Financial position Interest-bearing liabilities at the end of the period amounted to SEK 650.5 (669.1) million, of which SEK 73.6 (84.6) million refers to lease liabilities. The net debt for the Group amounted to SEK 395.5 (276.6) million. The increase is mainly attributable to the acquisition of Quatro Air Technologies Inc. and Aerofil Inc., which was finalized during the fourth quarter 2021. The equity ratio improved by 6.1 percentage points and amounted to 39.1 (33.0) % at the end of the period. The Parent company's credit facility totals SEK 600 million and expires in 2024. Net sales, SEK million
Quatro Air Frequently Asked Questions (FAQ)
Where is Quatro Air's headquarters?
Quatro Air's headquarters is located at 30 Hymus Blvd., Pointe-Claire.
What is Quatro Air's latest funding round?
Quatro Air's latest funding round is Acquired.
Who are the investors of Quatro Air?
Investors of Quatro Air include Absolent Air Care Group.
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