Interim Report January-June 2020
The second quarter:
- Order intake was MSEK 1,655 (2,201), a decline of -24.8% adjusted to -24.0% for currency effects of MSEK -18
- Net sales were MSEK 1,726 (2,055), a decline of -16.0% adjusted to -15.5% for currency effects of MSEK -11
- Operating profit was MSEK 153.6 (174.8), a decrease of 12.1% with an operating margin of 8.9 (8.5)%
- Earnings after tax were MSEK 98.8 (114.5)
- Earnings per share were SEK 0.55 (0.74)
- Cash flow from operating activities was MSEK 230.2 (146.0)
Comments from CEO Bodil Sonesson:
- Whilst continuing to successfully manage the Covid-19 challenges the group has delivered a respectable operating result in the quarter.
- My sincere thanks and gratefulness go to every Group colleague. It has been a challenging episode but with great collaboration, hard work and a supportive company culture the second quarter exceeded expectations.
- I am happy to announce our second competence centre for our Organic Response technology, this will be based in Linköping, Sweden and opened beginning of August.
- At 1,685 MSEK, we started the second quarter with a healthy order backlog. I expect the lower second quarter order intake will be a challenge for net sales for the remainder of the year. The reducing cost base will support the operational result.
- We have a strong balance sheet and a healthy liquidity situation. We continue to increase our focus on cash generating activities as we do not know for how long the conditions will remain.
- We continue our strategic work with the new business area structure and we have identified many significant growth opportunities.
- The Group is well prepared for the future and is in a healthy condition. We will emerge strategically stronger from the current situation.
Disclosures may be submitted by
Bodil Sonesson CEO, mobile: +46 722 23 76 02 e-mail: firstname.lastname@example.org
Michael Wood CFO, mobile: +46 730 87 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 11:15 CET on August 12, 2020.
Fagerhult Group is one of Europe's leading lighting companies with 4,700 employees in 28 countries and a turnover of 7,800 SEK mn in 2019. We consist of 13 brands organized into four business areas – Collection, Premium, Professional and Infrastructure.
All our brands produce high-quality professional lighting solutions and we work mainly on specifications together with our partners. Together we cover almost every professional lighting application and our presence is worldwide.