HABO, Sweden, April 23, 2018 /PRNewswire/ --
- Order intake was MSEK 1,428.1 (1,314.0), which is an overall
growth of 8.7% adjusted to 0.3% for acquisitions of MSEK 100.4 and
currency effects of MSEK 9.7
- Net sales were MSEK 1,270.7 (1,244.3), which is an overall
growth of 2.1% adjusted to an organic decline of 6.1% for
acquisitions of MSEK 93.6 and currency effects of MSEK
8.6
- Operating profit was MSEK 138.6 (153.4), representing a 9.6%
decrease with an operating margin of 10.9 (12.3)%
- Earnings after tax were MSEK 97.0 (107.9), a decrease of
10.1%
- Earnings per share were SEK 0.85
(0.95)
- Cash flow from operating activities was MSEK -87.3
(126.3)
Comments from CEO Johan
Hjertonsson:
- Besides the order intake growth for the quarter at 8.7% overall
and 0.3% organic, the headline numbers do not reflect the steady
performance of the Group during the quarter.
- The first quarter of 2017, i.e. the prior year comparison
period, was an exceptionally strong period where operating profits
were at a level more associated with either a second or third
quarter, helped significantly by MSEK 93 sales in the UK on two
major projects to a large retailer and Crossrail.
- We are pleased with the organic growth in the order backlog
position in the quarter, some MSEK 108 compared to a year ago and
MSEK 178 compared to the end of 2017, a book-to-bill ratio in the
quarter of 112%.
- The unusually severe adverse weather conditions across most of
Europe combined with the
liquidation of a major UK contractor and Easter partly coming back
into Q1 have all affected net sales in the quarter.
- As the Outlook refers to, in some markets we have seen a flat
demand and we will continue to increase market shares in the months
and quarters ahead.
- Operating profit at MSEK 138.6 is the second highest first
quarter on record and the operating margin at 10.9% is strong for a
first quarter.
- The Group's LED share of net sales continues to progress, the
low level of the installed base continues to provide opportunities
and for the Group the share of net sales of connected luminaires is
approximately 9% in the quarter and will be a key focus for the
future.
- We are pleased to confirm that the acquisition of Veko
Lightsystems International was completed on 20 April 2018 and we welcome all members of Veko
to the Group. The Veko product offering will provide good synergies
in many of our markets for an important new sub-sector for the
Group. In 2017 Veko had sales of 37 MEUR and an operating margin
significantly higher than the Group average.
Disclosures may be submitted by
Johan Hjertonsson CEO
tel: +46-36-10-85-00
mobile: +46-70-229-77-93
e-mail: johan.hjertonsson@fagerhult.se
Michael Wood CFO
tel: +46-36-10-85-00
mobile: +46-73-087-46-47
e-mail: michael.wood@fagerhult.se
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 14.00 CET on
23rd April 2018.
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Fagerhult, Interim
Report January â€" March 2018
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SOURCE Fagerhult