Fagerhult: Interim Report January - September 2017

HABO, Sweden, Oct. 24, 2017 /PRNewswire/ --

    --  Order intake was MSEK 3,939.3 (3,438.2), which is an overall growth of
        14.6% adjusted to 1.4% for acquisitions (MSEK 448.0) and currency
        effects (MSEK 5.0)
    --  Net sales were MSEK 3,850.4 (3,317.0), which is an overall growth of
        16.1% adjusted to 3.0% for acquisitions (MSEK 430.6) and currency
        effects (MSEK 4.9)
    --  Operating profit was MSEK 505.5 (404.3), representing a 25.0% increase
        with an operating margin of 13.1 (12.2)%
    --  Earnings after tax were MSEK 352.8 (298.3), an increase of 18.3%
    --  Earnings per share were SEK 3.09 (2.62), an increase of 17.9%
    --  Cash flow from operating activities was MSEK 405.1 (137.0), an increase
        of 195.7%
    --  During the quarter the Group completed the acquisition of the balance
        49% of the shares in LED Linear UK, previously owning 51% and also
        acquired a 20% minority holding in the Danish outdoor specialist
        lighting controls business Seneco AS

Comments from CEO Johan Hjertonsson:

    --  We are pleased that the Group continues to deliver strong results,
        especially when compared to the record results from 2016. The third
        quarter of 2017 has set new records for net sales and operating profit,
        which increased in the quarter 16.2% from Q3 2016 to MSEK 192.2 (165.4).
    --  Significantly, the 12 month rolling net sales for the first time in the
        Group's history now exceeds 5 BSEK.
    --  Market activity in most of our main markets was and remains positive,
        however it continues to be mixed in some smaller regions. The Group is
        well positioned to progress into the fourth quarter and 2018 as the
        order backlog is at a good level.
    --  The overall activity for order intake and net sales continue to be at a
        high level in many regions, showing organic growth from last year and
        resuming the positive trend from a slightly negative second quarter. The
        UK & Ireland business area, which has a significant share of net sales
        in Indoor Lighting continues to encounter currency headwinds with a year
        to date negative MSEK 55 (6%) impact on net sales.
    --  To support the development of organic growth, in September we are
        pleased to have opened our central Paris office and showroom facility,
        we now move to the second large city, Barcelona.
    --  The level of the global LED luminaire installed basis is suggested to be
        at between 5-10% and with a LED share of net sales at over 90%, the
        Group is very well positioned to capitalise on this forward looking
        opportunity.
    --  Finally, we welcome the LED Linear UK team to the Group and we look
        forward to working together and collaborating in the UK & Ireland on the
        many existing opportunities.

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 09:30 CET on October 24th 2017.

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SOURCE Fagerhult