Apr 24, 2020   SOURCE: PR NewsWire

Fagerhult: Interim Report January - March 2020

HABO, Sweden, April 24, 2020 /PRNewswire/ -- The first quarter:

    --  Order intake was MSEK 2,146 (1,588), which is an overall growth of 35.1%
        adjusted to +7.1% for acquisitions of MSEK 418 and currency effects of
        MSEK 28
    --  Net sales were MSEK 1,689 (1,594), which is an overall growth of 6.0%
        adjusted to -14.0% for acquisitions of MSEK 289 and currency effects of
        MSEK 29
    --  Operating profit was MSEK 10.7 (158.1) representing a 93.2% decrease
        with an operating margin of 0.6 (9.9)%
    --  Earnings after tax were MSEK -16.4 (93.0)
    --  Earnings per share were SEK -0.10 (0.76)
    --  Cash flow from operating activities was MSEK 87.9 (82.2)

Comments from CEO Bodil Sonesson:

    --  The first quarter has brought many challenges and we have dealt with the
        one-off events arising in the first quarter.
    --  It would be too optimistic to expect that order intake continues to
        improve under the current Covid-19 conditions, but the Q1 growth is a
        strong signal of the work done during 2019 and the new strategic
        alignment model within the Collection, Premium, Professional and
        Infrastructure business areas, this is pleasing to see. For further
        information please see www.fagerhultgroup.com.
    --  Let me also say that I am extremely impressed and grateful for the
        reaction, attitude, approach and efforts of everybody in the Fagerhult
        Group in dealing with Covid-19. It is evidence of a strong and
        supportive culture.
    --  As a CEO, I am pleased with the strong balance sheet and good levels of
        liquidity, we have of course increased our focus on working capital and
        cash generating activities as we do not know for how long the Covid-19
        condition remains.
    --  Turning to present and the future. We of course continue to follow local
        authority and national government regulations. However, we see changes
        here immediately affecting our business performance.
    --  Our planning now looks to the second half of 2020 and further, where we
        possibly see a reduction in activity and with a period of time for the
        recovery to turn positive. We plan to be well prepared for this.
    --  Finally we remain confident that we will emerge stronger from the
        current pandemic situation with the objective to serve our customers
        better and continue to provide great lighting solutions.

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 12:00 CEST on 24th April 2020.

Contact:

Disclosures may be submitted by

Bodil Sonesson CEO
Mobile: +46-722-23-76-02
E-mail: bodil.sonesson@fagerhultgroup.com

Michael Wood CFO
Mobile: +46-730-87-46-47
E-mail: michael.wood@fagerhultgroup.com

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https://news.cision.com/fagerhult/r/interim-report-january---march-2020,c3095526

The following files are available for download:



     
     https://mb.cision.com/Main/1781/3095526/1235577.pdf Fagerhult Group, Interim
                                                             report January âEUR"
                                                             March 2020

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SOURCE Fagerhult