Interim Report January - March 2014
· Orders received amounted to MSEK 983.3 (733.1), an increase of 24 % adjusted for currency effects and acquired operations
· Net sales totalled MSEK 885.5 (689.3), an increase of 21 % adjusted for currency effects and acquired operations
· Operating profit was MSEK 75.3 (34.3). The operating margin was 8.5 (5.0) %.
· Profit after tax amounted to MSEK 49.5 (21.2), an increase of 133%
· Earnings per share was SEK 3.92 (1.68)
Comments by CEO Johan Hjertonsson:
- The Group’s best Q1 for orders received, sales and operating profit.
- The Group has increased the market shares in several important markets
- We have increased the order book by almost MSEK 100.
- The quarter includes two large orders in the UK amounting to MSEK 60, of which fifty percent has been invoiced in the first quarter.
- Retained strong gross margins.
- The share of LED solutions amounted to approximately 30 % during the quarter.
- We are of the opinion that the market will continue to improve during the year, but the upturn may be drawn out and will vary between markets.
- The acquisition of Arlight was completed in February but has not had any impact of profit for the quarter, as acquisition costs negate the operating profit.
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, I-Valo and Arlight. AB Fagerhult is listed on the Nasdaq OMX Nordic Exchange in Stockholm.