Interim report, January – September 2013
- Orders received MSEK 2,345.5 (2,385.2). After adjustments for currency effects and acquisitions, orders received are 1% higher than previous year.
- Net Sales MSEK 2,239.5 (2,314.1). After adjustments for currency effects and acquisitions, sales have decreased by 1%.
- Operating profit MSEK 193.7 (193.4), an operating margin of 8.6 (8.4)%.
- Profit after tax MSEK 124.5 (114.5).
- Earnings per share SEK 9.87 (9.08).
- I-Valo Oy in Finland, which was acquired in June, has been consolidated into profits from the third quarter.
Comments by CEO Johan Hjertonsson:
- Operating profits for the third quarter were MSEK 108.4 (88.4), which was all time high and corresponds to an operating margin of 13.4 (11.4)%.
- The improvement in operating income was primarily attributable to our efforts to improve gross margins and reduce fixed costs.
- Net sales in the third quarter increased by 3% over the previous year, adjusted for currency and acquisitions, which was mainly due to increased market share.
- Good order intake in the third quarter, MSEK 794.1 (726.1), an increase of 8% compared to the third quarter of 2012, adjusted for currency and acquisitions.
- The market is still relatively weak, however in this quarter we have seen an upward trend and we assess that the market will gradually improve in the fourth quarter and in 2014.
- The LED share continues to increase and exceeded 20% of net sales this quarter.
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.