Interim Report January–March 2016
· The order intake was MSEK 1,142.0 (976.1), which is an increase of 18 per cent adjusted for currency effects and acquired units
· Net sales were MSEK 1,031.5 (905.5), which is an increase of 16 per cent adjusted for currency effects and acquired units
· The operating profit was MSEK 85.4 (72.7), representing an operating margin of 8.3 (8.0) per cent
· Earnings after tax were MSEK 61.4 (51.6), an increase of 19 per cent
· Earnings per share were SEK 1.62 (1.36)
· Cash flow from operating activities was MSEK -51.5 (56.5)
Comments from CEO Johan Hjertonsson:
- The Group delivered a strong first quarter for order intake, net sales and profit which are considerably ahead of the first quarter 2015.
- Cash flow from operating activities was MSEK -51.5 mainly due to increases in accounts receivables as a result of sales volumes.
- Earnings per share at SEK 1.62 was better than in the previous year.
- LED share of net sales in the quarter was approximately two thirds.
- The order backlog is at a high level as we head into the second quarter.
- Growth over the period was good in many of our larger markets, particularly Northern & West Europe and the UK.
- We are delighted to welcome the members of LED Linear GmbH to the Fagerhult Group, we see several strong synergies from this acquisition that was announced on the 15th March.
Fagerhult is one of Europe’s leading lighting groups with approximately 2,700 employees and operations in more than 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, Arlight, Lighting Innovation and LED Linear. AB Fagerhult is listed on the Nasdaq OMX Nordic Exchange in Stockholm.