Interim Report January-March 2021
The first quarter:
Order intake was MSEK 1,854 (2,146), a decline of -13.6% adjusted to -7.4% for currency effects of MSEK -108 and disposals of MSEK -27
Net sales were MSEK 1,678 (1,689), a decline of -0.7% adjusted to +6.6% for currency effects of MSEK -97 and disposals of MSEK -24
Operating profit was MSEK 152.9 (10.7), an increase of 1,329% with an operating margin of 9.1 (0.6)%
Earnings after tax were MSEK 96.2 (loss 16.4)
Earnings per share were SEK 0.53 (loss 0.10)
Cash flow from operating activities was MSEK 58.6 (87.9)
Comments from CEO Bodil Sonesson:
The first quarter of 2021 was improved in many areas and we are satisfied with the steady progress and ongoing recovery from the effects of the pandemic.
The quarterly operating margin at 9,1% is at a good level with the current market conditions.
Whilst Covid persists and we still have a lot of extra measures in place, the new ways of working are effective, and the steady improvement is visible. As a result, we have currently decided to not provide detailed separate Covid updates. If the situation changes, we will of course review this.
As a fundamental part of our connectivity and sustainability strategy, the acquisition of the balance 80% of the shares in Seneco is a significant step. From a sustainability perspective, the Seneco technology has a significant impact on reducing energy consumption in outdoor lighting.
The Group now has connected solutions for both indoor and outdoor lighting where market demands continue to grow.
The main focus for this quarter’s strategy work is continued internal work with our Group core values and our sustainability strategy gathers pace. We are working on the Group materiality analysis with many stakeholder interviews as part of the process.
An investor webcast following the Quarter 1 Report 2021 will be held on 29 April 2021 at 15:30 CET.
A link to the webcast will be available on http://ir.fagerhultgroup.com
A Management presentation will also be published on http://ir.fagerhultgroup.com.
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 11:25 CET on 29th of April 2021.
The Fagerhult Group is one of Europe's leading lighting companies with 4,200 employees in 28 countries and a turnover of 6.800 MSEK in 2020. 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.