Interim Report | Financials | 18 Apr, 2013 | 14:05 | Regulatory
Interim report, January – March 2013
- Orders received MSEK 733 (798). After adjustments for currency effects, orders received have decreased by 5% compared with the previous year
- Net sales MSEK 689 (775). After adjustments for currency effects, sales have decreased by 8%.
- Operating profit MSEK 34.3 (60.3), an operating margin of 5.0 (7.8) %.
- Profit after tax MSEK 21.2 (32.5)
- Earnings per share SEK 1.68 (2.58)
Comments by CEO Johan Hjertonsson:
- Continued lower demand in the late-cycle Indoor Lighting and Retail Lighting segments remains stable on a low level, in line with previous estimates.
- We anticipate that the market will remain weak through the coming quarters.
- The lower level of sales has meant a decrease in profits compared with the same period during the previous year. A considerable portion of this has been compensated for through cost savings.
- The gross margins were at the same level as in the first quarter of the previous year, and higher than the preceding quarter.
- Fixed expenses have been reduced by MSEK 50, on an annual basis compared, with the first quarter of the previous year, after adjustments for currency effects.
- Investments in R&D continue.
- The strong Swedish krona has had a negative effect on profit of MSEK 8 compared with the previous year.
- Red Dot Design Award for Fagerhult’s Appareo fixture.