Fagerhult AB. Very Strong, page-11

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    Interin report q2



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    Fagerhult: Interim Report January - June 2017
    NEWS PROVIDED BY
    Fagerhult
    05:52 ET
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    HABO, Sweden, Aug 17, 2017 /PRNewswire/ --

    • Order intake was MSEK 2,700.4 (2,349.5), which is an overall growth of 14.9% adjusted to 1.3% for acquisitions (MSEK 296.8) and currency effects (MSEK 24.6)
    • Net sales were MSEK 2,544.7 (2,172.6), which is an overall growth of 17.1% adjusted to 3.8% for acquisitions (MSEK 266.2) and currency effects (MSEK 23.3)
    • Operating profit was MSEK 313.3 (238.9), representing a 31.1% increase with an operating margin of 12.3 (11.0)%
    • Earnings after tax were MSEK 216.5 (173.9), an increase of 24.5%
    • Earnings per share were SEK 1.90 (1.53)
    • Cash flow from operating activities was MSEK 188.5 (39.0)
    • During the quarter the 3:1 share split was completed in accordance with the resolution taken at the Annual General Meeting
    Comments from CEO Johan Hjertonsson:
    • The Group delivered a strong first half year with record second quarter results for order intake, net sales and operating profit.
    • For the six months, market activity in our main markets was positive and mixed in some other regions.
    • Order intake and net sales were ahead of the record setting first half year of 2016, operating profits increased 31% and a 12.3% operating margin was achieved in each quarter.
    • Earnings per share at SEK 1.90 is 24.2% ahead of the SEK 1.53 from the previous year.
    • The LED share of net sales continues to develop on a positive trend and the opportunity available to the Group from the low level of the installed LED base is significant.
    • We have good visibility for the third quarter with the order backlog at a high level.
    • As it integrates into the Group, we are pleased with the progress of WE-EF and the potential upside from the synergies are better than previously anticipated.
    • Following the acquisition of the Organic Response IP in April, I am pleased once again to service our customers with this unique lighting control solution through the Group's brands.
    • Our attention now turns to the second half year where we enter the period with strong forward momentum combined with a strong order backlog.
    Disclosures may be submitted by
    Johan Hjertonsson
    CEO
    tel: +46-36-10-85-00
    mobile: +46-70-229-77-93
    e-mail: [email protected]
    Michael Wood
 
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