Interim Report January – September 2018
· Order intake was MSEK 4,400.5 (3,939.3), which is an overall growth of 11.7% adjusted to 0.4% for acquisitions of MSEK 317.3 and currency effects of MSEK 127.1
· Net sales were MSEK 4,132.9 (3,850.4), which is an overall growth of 7.3% adjusted to -3,4% for acquisitions of MSEK 290.0 and currency effects of MSEK 123.5
· Operating profit was MSEK 500.2 (505.5) representing a 1.0% decrease with an operating margin of 12.1 (13.1)%
· Earnings after tax were 348.9 (352.8), a decrease of 1.1%
· Earnings per share were SEK 3.05 (3.09).
· Cash flow from operating activities was MSEK 90.7 (405.1)
Comments from CEO Bodil Sonesson:
- The Group continues to deliver solid results while the lighting industry is experiencing some challenges.
- The year-to-date overall order intake is ahead of last year by 11.7% and after adjusting for acquisitions and currency effects the organic order intake is ahead of last year by 0.4%. The total order stock is ahead of last year by 18.4%.
- The year to date overall net sales is ahead of last year by 7.3% and after adjusting for acquisitions and currency effects the organic net sales has declined 3.4%. The operating margin has been improving during the year from 10.9% in Q1 to in 11.7% Q2 to a stronger 13.5% in the current quarter.
- In most of the Group’s main business areas we see a consistent and good level of activity for enquiries, quotations and order income. In the UK we notice a continued tough market with lower construction activity levels as the uncertainty from Brexit grows due to the approaching March 2019 timeframe.
- Investments in medium term growth activities continue to make progress and look to deliver positive returns in coming quarters.
- Q3 operating profit at 195.0 (192.2) MSEK is another record high for the Group and results from overall strong organic margin development and successful integration of new acquisitions.
- We continue to have reason to be positive about the near term future with a general good activity level, healthy order backlog and some encouraging signs from growth investments. The Group’s decentralised model is a key part of the success.
- “I look forward to working in the Fagerhult Group and to continue the strong development into the future,” new CEO, Bodil Sonesson.
Disclosures may be submitted by
Bodil Sonesson CEO, mobile: +46 72223 7602 e-mail: firstname.lastname@example.org
Michael Wood CFO, 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 person set out above, at 10.10 CET on 23rd October 2018.
Fagerhult is one of Europe’s leading lighting groups with approximately 3,450 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, WE-EF and Veko. AB Fagerhult is listed on the Nasdaq Nordic Exchange in Stockholm.