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Opus issues USD 50 million L/C backed bonds in the U.S.

Opus Group AB (publ) has issued USD 50 million Taxable Corporate Notes, commonly known as Letter of Credit (L/C) backed bonds, in the U.S. The proceeds from the transaction will be used for refinancing of existing debt, thereby securing our cash position to support Opus’ continued growth.

The L/C backed bonds of USD 50 million carry a variable short-term taxable interest rate, in line with LIBOR 7 days. The L/C backed bonds are guaranteed through a letter of credit issued by Swedbank AB (publ), New York Branch. The letter of credit has a maturity of three years and is extendable upon agreement. S&P Global Ratings has assigned long-term and short-term issue credit rating of “AA-/A-1+” for the L/C backed bonds. The maturity under the framework of the L/C backed bonds is 15 years. The bonds may be prepaid by Opus, in whole or in part, at no additional cost.
“These L/C backed bonds will further decrease Opus’ foreign exchange exposure in USD, lower our financing cost and support our growth plan”, says Linus Brandt, CFO and Executive Vice President of Opus.
Opus is a leading vehicle inspection and vehicle services company headquartered in Sweden, with operations in Europe, North and South America and Asia.

For additional information, please contact:
Lothar Geilen, CEO
Tel: +46 31 748 34 00
E-mail: lothar.geilen@opusinspection.com

or:

Helene Carlson
Director of Corporate Communications & Investor Relations
Phone: +46 765 25 84 93
E-mail: helene.carlson@opus.se

Interim Report (January – June 2017)

January – June 2017
Net sales amounted to SEK 903.8 million (847.4), a revenue growth of 6.7 percent. Adjusted for acquisitions and FX, the organic revenue growth amounted to 1.1 percent.
Operating profit before depreciation and amortization (EBITDA) amounted to SEK 162.2 million (177.5), corresponding to an EBITDA margin of 17.9 percent (20.9), and 8.6 percent lower EBITDA compared to the corresponding period previous year.
Net financial income/expense includes net foreign exchange differences of SEK -8.8 million (9.9).
Profit for the period amounted to SEK 36.6 million (52.6).
Earnings per share after dilution amounted to SEK 0.13 (0.18).
Cash flow from operating activities amounted to SEK 83.0 million (103.8).
April – June 2017
Net sales amounted to SEK 475.2 million (452.3), a revenue growth of 5.1 percent. Adjusted for acquisitions and FX, the organic revenue was -1.7 percent lower than the corresponding period previous year.
Operating profit before depreciation and amortization (EBITDA) amounted to SEK 90.4 million (116.1), corresponding to an EBITDA margin of 19.0 percent (25.7) and 22.1 percent lower EBITDA compared to the corresponding period previous year.
Net financial income/expense includes net foreign exchange differences of SEK -7.8 million (17.9).
Profit for the period amounted to SEK 28.3 million (50.5).
Earnings per share after dilution amounted to SEK 0.10 (0.17).
Cash flow from operating activities amounted to SEK 31.9 million (94.8).
Notable events during the second quarter
Nashville, Tennessee signed new contract with Opus Inspection.
Opus Inspection acquired European RSLab.
Opus received notice of award from Government of Sindh, Pakistan.
Ohio signs renewed contract with Opus Inspection.
Opus acquired U.K. based Autologic Diagnostics.
Opus entities named in lawsuit.
Opus issued Taxable Corporate Notes in the U.S. amounting to USD 25 million.
Gothenburg in August 2017
Opus Group AB (publ)

For additional information, please contact:
Lothar Geilen, CEO
Tel: +46 31 748 34 00
E-mail: lothar.geilen@opusinspection.com

or:

Peter Stenström
Investor Relations
Phone: +46 765 25 84 93
E-mail: peter.stenstrom@opus.se

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  • Lothar Geilen

    Lothar Geilen

    Chief Executive Officer (CEO)
    Phone: +46 31 748 34 00

  • Helene Carlson

    Helene Carlson

    Director of Corporate Communications & Investor Relations
    Phone: +46 31 748 34 93

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