Year-End Report 2016
- The order intake was MSEK 4,653.0 (4,113.4), which is an increase of 9.4% after adjusting for currency effects of MSEK -156.5 and acquisitions of MSEK 308.8
- Net sales were MSEK 4,490.7 (3,909.4), which is an increase of 10.3% after adjusting for currency effects of MSEK -149.9 and acquisitions of MSEK 328.6
- The operating profit was MSEK 524.2 (396.0) representing a 32.4% increase with an operating margin of 11.7 (10.1)%
- The operating profit in the fourth quarter was negatively affected by MSEK 21.4 due to one-off non-comparable items relating to M&A transactions
- Earnings after tax were MSEK 380.9 (288.6), an increase of 32.0%
- Earnings per share were SEK 10.04 (7.62)
- Cash flow from operating activities was MSEK 387.8 (443.5)
- A dividend of SEK 4.50 (3.50) per share and a 3:1 stock split will be proposed
- Fagerhult has signed an agreement to acquire the specialist outdoor lighting company WE-EF in Germany and the acquisition is expected to complete in the first quarter of 2017
Comments from CEO Johan Hjertonsson;
- We are pleased with the full year results for order intake, net sales and operating profit. All three set new records ahead of the previous records from last year.
- The order intake at MSEK 4,653.0 firmly establishes a new milestone for the business with each of the quarterly order intake in excess of 1 BSEK. The last quarter, at MSEK 1,215 was a strong performance for Q4 and an all-time high.
- Order intake continues to be above the market growth rates we see, certainly in our larger markets and therefore we continue to grow our overall market shares.
- The organic net sales increase of 10.3%, resulted in the total net sales of almost 4.5 BSEK, a great achievement with the increase coming from all business and product areas.
- Double digit like-for-like net sales growth was achieved in the Northern Europe, UK & Ireland and Africa, Asia & the Pacific business areas.
- The operating profit increased quarter on quarter compared to 2015, resulting in MSEK 524.2 for the year, some MSEK 128, 32% up on last year.
- The fourth quarter was a strong quarter in every aspect, particularly the operating cash flow which recovered well and overcame the weak start to the year.
- Earnings per share at SEK 10.04 showed a 32% increase over the 7.62 for last year.
- We look forward to 2017, the Fagerhult Group is in good shape, has positive forward momentum and will continue on its strategic journey, with WE-EF acquisition being an important step in that journey.
Disclosures may be submitted by
Johan Hjertonsson CEO tel: 46 36 10 85 00 mobile: 46 70 229 77 93 e-mail: firstname.lastname@example.org
Michael Wood CFO tel: 46 36 10 85 00 mobile: 46 73 087 46 47 e-mail: email@example.com
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 persons set out above, at 11.00 CET on 21st February 2017.
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.