Interim report, January – June 2013
- Orders received MSEK 1,551 (1,659). After adjustment for currency effects, orders received have decreased by 3% compared with the previous year.
- Net Sales MSEK 1,430 (1,539). After adjustment for currency effects, sales have decreased by 3%.
- Operating profit MSEK 85.3 (105.0), an operating margin of 6.0 (6.8) %.
- Profit after tax MSEK 55 (59.4).
- Earnings per share SEK 4.36 (4.71).
- During the quarter, I-Valo Oy was acquired in Finland.
Comments by CEO Johan Hjertonsson:
- The demand in the late-cycle Indoor Lighting and Retail Lighting Business Areas is stable at a low level, which is in line with previous assessments, and we believe that the market is likely to continue to be weak during the second half year.
- A positive level of orders received was seen in the second quarter, MSEK 818 (861), which is an increase of 12% compared with the first quarter 2013. This is a decline compared with the strong comparative period Q2 2012 which had been largely due to the strong Swedish krona.
- An improved operating profit in the second quarter compared with the previous year, MSEK 50.9 (44.7).
- The lower level of sales has been compensated for through costs savings and a stronger gross margin during the second quarter.
- Strong cash flow from the on-going operations during the quarter.
- I-Valo Oy was acquired during the quarter and compliments the Group’s offering to heavy industry.
Fagerhult is one of Europe’s leading lighting groups with approximately 2,200 employees and operations in 20 countries. We create modern products and exciting, energy-efficient and environmentally-adapted lighting installations, successfully integrated into their individual environments. The Group includes such strong brands as Fagerhult, Ateljé Lyktan, LTS, Whitecroft Lighting, Designplan Lighting and I-Valo. AB Fagerhult is listed on the Nasdaq OMX Nordic Exchange in Stockholm.