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Interim Report | Financials | 24 Oct, 2017 | 09:31 | Regulatory

Interim Report January – September 2017

Comments from CEO Johan Hjertonsson:

  • We are pleased that the Group continues to deliver strong results, especially when compared to the record results from 2016. The third quarter of 2017 has set new records for net sales and operating profit, which increased in the quarter 16.2% from Q3 2016 to MSEK 192.2 (165.4).
  • Significantly, the 12 month rolling net sales for the first time in the Group’s history now exceeds 5 BSEK.
  • Market activity in most of our main markets was and remains positive, however it continues to be mixed in some smaller regions. The Group is well positioned to progress into the fourth quarter and 2018 as the order backlog is at a good level.
  • The overall activity for order intake and net sales continue to be at a high level in many regions, showing organic growth from last year and resuming the positive trend from a slightly negative second quarter. The UK & Ireland business area, which has a significant share of net sales in Indoor Lighting continues to encounter currency headwinds with a year to date negative MSEK 55 (6%) impact on net sales.
  • To support the development of organic growth, in September we are pleased to have opened our central Paris office and showroom facility, we now move to the second large city, Barcelona.
  • The level of the global LED luminaire installed basis is suggested to be at between 5-10% and with a LED share of net sales at over 90%, the Group is very well positioned to capitalise on this forward looking opportunity.
  • Finally, we welcome the LED Linear UK team to the Group and we look forward to working together and collaborating in the UK & Ireland on the many existing opportunities.