Interim Report January - June 2015
· The order intake was MSEK 2,066.7 (1,951.8), which is an increase of 1 per cent after adjusting for currency effects and acquired units.
· Net sales were MSEK 1,864.5 (1,829.8), which is a decrease of 5 per cent after adjusting for currency effects and acquired units.
· The operating profit was MSEK 160.9 (169.6), representing an operating margin of 8.6 (9.3) per cent.
· The profit after tax was MSEK 111.9 (114.0).
· Earnings per share were SEK 2.96 (3.01).
· Cash flow from operating activities was MSEK 129.6 (113.6).
Comments by CEO Johan Hjertonsson:
- A very good order intake of MSEK 1,091 (969) in the second quarter, an increase by 13 %, which makes this quarter the best yet for the Group.
- Our strong offering to the healthcare sector is yielding fruit, as shown by our strong order intake from large hospitals in Australia, the UK and other countries.
- The order backlog at the end of the first half of the year was MSEK 160 higher than at the same date in 2014.
- A stable quarter in which we achieved sales and earnings at the same high level as in the second quarter of 2014.
- Through the agreement to acquire the assets of Lighting Innovations in South Africa we are establishing a presence in the dynamic Sub-Saharan Africa region, which has great growth potential. We expect to finalise the acquisition in the second half of the year.
- The LED lighting share of net sales continues to expand.
- Market growth over the period remained brisk in the UK and was stable in Scandinavia but lower in parts of the eurozone.
Fagerhult is one of Europe’s leading lighting groups with approximately 2,400 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, Eagle Lighting, I-Valo and Arlight. AB Fagerhult is listed on the Nasdaq OMX Nordic Exchange in Stockholm.