AB Fagerhult Announces Consolidated and Parent Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 22, 2018 at 06:15 am EDT
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AB Fagerhult announced consolidated and parent earnings results for the second quarter and six months ended June 30, 2018. For the quarter, on consolidated basis, the company reported net sales were SEK 1,421.6 million against SEK 1,300.4 million a year ago. Operating profit was SEK 166.6 million against SEK 159.9 million a year ago. Net profit for the period attributable to shareholders of the parent company was SEK 116.9 million against SEK 108.6 million a year ago. Earnings per share before and after dilution were SEK 1.02 against SEK 0.95 a year ago. Cash outflow from operating activities was SEK 3.7 million against cash inflow from operating activities of SEK 62.2 million a year ago. Profit before tax was SEK 155.9 million against SEK 146.8 million a year ago.
For the six months, on consolidated basis, the company reported net sales were SEK 2,692.3 million against SEK 2,544.7 million a year ago, which is an overall growth of 5.8%, adjusted to -3.2% for acquisitions of SEK 179.6 million and currency effects of SEK 49.3 million. Operating profit was SEK 305.2 million against SEK 313.3 million a year ago, representing a 2.6% decrease with an operating margin of 11.3% against 12.3%. Earnings after tax were SEK 213.9 million against SEK 216.5 million a year ago, a decrease of 1.2%. Earnings per share before and after dilution were SEK 1.87 against SEK 1.90 a year ago. Cash used in operating activities was SEK 91.0 million against cash flow from operating activities of SEK 188.5 a year ago. Return on equity was 22.5% against 26.3% a year ago. Net debt was SEK 2,526 million as on June 30, 2018 against SEK 2,055 million a year ago.
For the quarter, on parent basis, the company reported net sales were SEK 3.6 million against SEK 3.6 million a year ago. Operating loss was SEK 11.0 million against SEK 9.9 million a year ago. Net loss was SEK 19.5 million against profit of SEK 127.9 million a year ago.
For the six months, on parent basis, the company reported net sales were SEK 7.2 million against SEK 7.2 million a year ago. Operating loss was SEK 22.5 million against SEK 18.1 million a year ago. Net profit was SEK 4.3 million SEK 122.4 million a year ago.
Fagerhult AB is a Sweden-based company engaged in the development, manufacture and marketing of lighting systems for public environments. Its product offering is divided into six groups. Office Lighting offers products and solutions for office environments, hotels and other public spaces. School Lighting offers solutions for educational premises, such as lecture halls, study rooms and libraries. Industrial Lighting offers systems, applications and products for industrial environments. Health and Hospital Care Products offers medical technical equipment, such as panels for intensive care units and treatment rooms, and dialysis columns in hospitals. Retail Lighting offers lighting solutions and service for retail environments. Outdoor Lighting offers lighting for public spaces such as roads, paths and parks, as well as architectural lighting. In June 2013, it acquired 100% of the shares of I-Valo Oy based in Iittala, Finland. In February 2014, it completed the acquisition of Arlight.
FAGERHULT GROUP AB 
