The Momentum Group completed the acquisition of Swedol AB (publ) at the end of March 2020 and closing took place on 1 April 2020. As of 1 April 2020, Swedol has consequently been part of Momentum Group's business area Tools, Consumables, Workwear & Protective Equipment, together with the Group's subsidiaries in TOOLS, Gigant and workwear & promotional products as well as the Group's logistics function in Sweden.
The first financial report in which Swedol will be included in the Momentum Group and the new business area will be reported externally is the Interim Report for the first quarter of the 2020/21 financial year, 1 April-30 June 2020, which will be published on 16 July 2020. Ahead of this report, the Momentum Group has prepared supplementary financial information in which the 2019/20 financial year has been restated for the new business area and the Group as a whole as if the acquisition of Swedol and other changes in the business area structure had taken place on 1 April 2019, as described in the enclosed appendix. The opening balances for the consolidated balance sheet as of 1 April 2020 are also presented. The supplementary financial information is not to be regarded as proforma information.
BASIS FOR THE SUPPLEMENTARY FINANCIAL INFORMATION
The supplementary financial information for 2019/20 in Appendix 1 presents the Momentum Group, including the acquisition of Swedol, for the 2019/20 financial year. This information has been restated as if the acquisition of Swedol and other changes had been completed on 1 April 2019, including the financing of the bid for the directed issue to the shareholders of Swedol, the bank loans raised and other expenses related to the acquisition. This financial information is preliminary and is based on a preliminary acquisition analysis, which is found in Appendix 2. Other changes mainly refer to the transfer of the Group's logistics function in Sweden for accounting purposes, which was previously recognised under Group-wide. For definitions and derivations, refer to the Momentum Group's Financial Report 2019/20, which was published on 13 May 2020.
Stockholm, 24 June 2020
Momentum Group AB (publ)
For further information, please contact:
Niklas Enmark, Executive Vice President & CFO, Tel: +46 10 454 54 70
Mats Karlqvist, Head of Investor Relations, Tel: +46 70 660 31 32
This information was submitted for publication, through the agency of the contact persons set out above, on 24 June 2020 at 08:00 a.m. CEST.
Momentum Group is a leading reseller of industrial consumables and components, service and maintenance to professional end users in the industrial and construction sectors in the Nordic region. The Group has annual revenue of approximately SEK 9.5 billion and some 2,700 employees. Momentum Group AB (publ) has been listed on Nasdaq Stockholm since June 2017. Read more at www.momentum.group.