HABO, Sweden, Feb, 26, 2018
/PRNewswire/ --
- Order intake was MSEK 5,238.4 (4,653.0), which is an overall
growth of 12.6% adjusted to 0.9% for acquisitions (MSEK 576.6) and
currency effects (MSEK -35.2)
- Net sales were MSEK 5,170.3 (4,490.7), which is an overall
growth of 15.1% adjusted to 2.6% for acquisitions (MSEK 581.5) and
currency effects (MSEK -20.9)
- Operating profit was MSEK 677.9 (524.2), representing a 29.3%
increase with an operating margin of 13.1 (11.7)%
- Earnings after tax were MSEK 494.4 (380.9), an increase of
29.8%
- Earnings per share were SEK 4.32
(3.35), an increase of 29.0%
- Cash flow from operating activities was MSEK 681.1 (387.8), an
increase of 75.6%
- A dividend of SEK 2.00 (1.50) per
share will be proposed
Comments from CEO Johan
Hjertonsson:
- Overall we are pleased with the performance of the Group and
the results for 2017, the year has set new records.
- I am very proud of the hard work taking place in all of our
businesses, work that is focussed on customers, their needs and
providing a high level service at every customer
'touch-point'.
- It is a great achievement that for the first year in its
history the Group passes 5 BSEK of net sales whilst continuing to
increase the operating margin.
- We see market activity in most of our business areas remaining
positive, despite some mixed regional fourth quarter performances
with again, the market activity in some smaller regions continues
to be mixed, but generally a more positive mix than reported last
quarter.
- In the Nordics and the UK we continue to grow and operate at a
high level where the market activity is best described as flat for
the last quarter with continued currency headwinds in the UK. With
the exception of the UK, currency has had little overall effect on
net sales, but the weaker GBP has had a 59 MSEK negative impact on
net sales in the year.
- Cash generation remains good, a cash conversion ratio of 1.0
which will continue to fund revenue investment in growth, hence our
new city strategy offices in Paris
and Barcelona as well as increased
R&D, especially in connectivity and sales and marketing
resources. We will initiate our third city later this year.
- We again estimate that the level of the global LED luminaire
installed basis is less than 10-12% and for the fourth quarter the
Group's LED share of net sales was in excess of 93%, so the
opportunity remains strong.
CONTACT:
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 11:45 CET on 26th February
2018.
This information was brought to you by Cision
http://news.cision.com
http://news.cision.com/fagerhult/r/year-end-report-2017,c2459251
The following files are available for download:
http://mb.cision.com/Main/1781/2459251/797535.pdf
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Fagerhult, Year-End
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SOURCE Fagerhult