Interim Report January – June 2017
· Order intake was MSEK 2,700.4 (2,349.5), which is an overall growth of 14.9% adjusted to 1.3% for acquisitions (MSEK 296.8) and currency effects (MSEK 24.6)
· Net sales were MSEK 2,544.7 (2,172.6), which is an overall growth of 17.1% adjusted to 3.8% for acquisitions (MSEK 266.2) and currency effects (MSEK 23.3)
· Operating profit was MSEK 313.3 (238.9), representing a 31.1% increase with an operating margin of 12.3 (11.0)%
· Earnings after tax were MSEK 216.5 (173.9), an increase of 24.5%
· Earnings per share were SEK 1.90 (1.53)
· Cash flow from operating activities was MSEK 188.5 (39.0)
· During the quarter the 3:1 share split was completed in accordance with the resolution taken at the Annual General Meeting
Comments from CEO Johan Hjertonsson:
- The Group delivered a strong first half year with record second quarter results for order intake, net sales and operating profit.
- For the six months, market activity in our main markets was positive and mixed in some other regions.
- Order intake and net sales were ahead of the record setting first half year of 2016, operating profits increased 31% and a 12.3% operating margin was achieved in each quarter.
- Earnings per share at SEK 1.90 is 24.2% ahead of the SEK 1.53 from the previous year.
- The LED share of net sales continues to develop on a positive trend and the opportunity available to the Group from the low level of the installed LED base is significant.
- We have good visibility for the third quarter with the order backlog at a high level.
- As it integrates into the Group, we are pleased with the progress of WE-EF and the potential upside from the synergies are better than previously anticipated.
- Following the acquisition of the Organic Response IP in April, I am pleased once again to service our customers with this unique lighting control solution through the Group’s brands.
- Our attention now turns to the second half year where we enter the period with strong forward momentum combined with a strong order backlog.
Disclosures may be submitted by
Johan Hjertonsson CEO tel: 46 36 10 85 00 mobile: 46 70 229 77 93 e-mail: email@example.com
Michael Wood CFO tel: 46 36 10 85 00 mobile: 46 73 087 46 47 e-mail: firstname.lastname@example.org
This information is inside information that AB Fagerhult (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and information that AB Fagerhult (publ) is obliged to make public pursuant to the Securities Markets Act.
The information was submitted for publication, through the agency of the contact person set out above, at 11:20 CET on August 17th 2017.
Fagerhult is one of Europe’s leading lighting groups with approximately 3,300 employees and operations in more than 25 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, LED Linear and WE-EF. AB Fagerhult is listed on the Nasdaq Nordic Exchange in Stockholm.