Interim Report | Financials | 23 Oct, 2018 | 10:11 | Regulatory
Interim Report January – September 2018
Comments from CEO Bodil Sonesson:
- The Group continues to deliver solid results while the lighting industry is experiencing some challenges.
- The year-to-date overall order intake is ahead of last year by 11.7% and after adjusting for acquisitions and currency effects the organic order intake is ahead of last year by 0.4%. The total order stock is ahead of last year by 18.4%.
- The year to date overall net sales is ahead of last year by 7.3% and after adjusting for acquisitions and currency effects the organic net sales has declined 3.4%. The operating margin has been improving during the year from 10.9% in Q1 to in 11.7% Q2 to a stronger 13.5% in the current quarter.
- In most of the Group’s main business areas we see a consistent and good level of activity for enquiries, quotations and order income. In the UK we notice a continued tough market with lower construction activity levels as the uncertainty from Brexit grows due to the approaching March 2019 timeframe.
- Investments in medium term growth activities continue to make progress and look to deliver positive returns in coming quarters.
- Q3 operating profit at 195.0 (192.2) MSEK is another record high for the Group and results from overall strong organic margin development and successful integration of new acquisitions.
- We continue to have reason to be positive about the near term future with a general good activity level, healthy order backlog and some encouraging signs from growth investments. The Group’s decentralised model is a key part of the success.
- “I look forward to working in the Fagerhult Group and to continue the strong development into the future,” new CEO, Bodil Sonesson.