Feb 18, 2020   SOURCE: PR NewsWire

Fagerhult: Year-End Report 2019

HABO, Sweden, Feb. 18, 2020 /PRNewswire/ -- The fourth quarter:

    --  Order intake was MSEK 1,925.6 (1,291.2), which is an overall increase of
        49.1% adjusted to -1.1% for acquisitions of MSEK 605.6 and currency
        effects of MSEK 42.7
    --  Net sales were MSEK 2,129.3 (1,488.1), which is an overall growth of
        43.1% adjusted to -6.6% for acquisitions of MSEK 697.5 and currency
        effects of MSEK 41.2
    --  Operating profit was MSEK 206.8 (205.6) representing a 0.6% increase
        with an operating margin of 9.7 (13.8)%
    --  Earnings after tax were MSEK 126.2 (154.2), a decrease of 18.2%
    --  Earnings per share were SEK 0.71 (1.35)
    --  Cash flow from operating activities was MSEK 379.3 (287.4)

Comments from CEO Bodil Sonesson:

    --  The positive trend on organic order intake is pleasing to see,
        especially with the steady recovery in the UK compared to last year.
    --  Here in Scandinavia we see a slight weakening of demand in the last
        quarter and we will monitor this very closely.
    --  Where actions have been executed the performance improvement programme
        continues to benefit.
    --  In some businesses the results are still slow. We expect cost down
        actions  start to benefit in 3 months whilst sales & marketing
        improvements activities take between 6-9 months to see the start of the
        recovery.
    --  Overall I am pleased with my first full 12 months in the Group, we have
        performed well in some challenging conditions.
    --  The integration of iGuzzini goes according to plan, the long term
        benefits remain strong, but in the short term the business needs to
        close out the new ERP IT installation.
    --  Looking forward to 2020 and beyond, growth is the number one focus and
        at the heart of the strategic alignment process, a process which is now
        fully communicated internally and we move to implementation and
        execution.

CONTACT:

Disclosures may be submitted by

Bodil Sonesson CEO, mobile: +46-72223-7602 e-mail: bodil.sonesson@fagerhult.se
Michael Wood CFO, 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 12:25 CET on 18th February 2020.

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     https://mb.cision.com/Main/1781/3037025/1195999.pdf Fagerhult, Year-End
                                                             Report 2019

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SOURCE Fagerhult