AB Fagerhult Announces Group and Company Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Guidance for 2018 and 2019
October 23, 2018 at 04:23 am EDT
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AB Fagerhult announced group and company earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, on group basis, the company reported net sales of SEK 1,440.6 million as compared to SEK 1,305.7 million a year ago. Operating profit was SEK 195.0 million as compared to SEK 192.2 million a year ago. Profit after financial items was SEK 186.3 million as compared to SEK 184.1 million a year ago. Net profit for the period was SEK 135.0 million as compared to SEK 136.3 million a year ago. Earnings per share before and after dilution were SEK 1.18 as compared to SEK 1.19 a year ago. Cash flow from operating activities was SEK 181.7 million against SEK 216.6 million a year ago.
For the period, on group basis, the company reported net sales of SEK 4,132.9 million as compared to SEK 3,850.4 million a year ago, which is an overall growth of 7.3% adjusted to negative of 3,4% for acquisitions of SEK 290.0 million and currency effects of SEK 123.5 million. Operating profit was SEK 500.2 million as compared to SEK 505.5 million a year ago. Profit after financial items was SEK 471.5 million as compared to SEK 476.7 million a year ago. Net profit for the period was SEK 348.9 million as compared to SEK 352.8 million a year ago. Earnings per share before and after dilution were SEK 3.05 as compared to SEK 3.09 a year ago. The company reported order intake was SEK 4,400.5 million against SEK 3,939.3 million a year ago, which is an overall growth of 11.7% adjusted to 0.4% for acquisitions of SEK 317.3 million and currency effects of SEK 127.1 million. Cash flow from operating activities was SEK 90.7 million against SEK 405.1 million a year ago.
For the quarter, on company basis, the company reported net sales of SEK 3.6 million as compared to SEK 3.6 million a year ago. Operating loss was SEK 7.5 million as compared to SEK 6.3 million a year ago. Loss after financial items was SEK 2.5 million as compared to SEK 7.4 million a year ago. Net loss for the period was SEK 2.5 million as compared to SEK 7.4 million a year ago.
For the period, on company basis, the company reported net sales of SEK 10.8 million as compared to SEK 10.8 million a year ago. Operating loss was SEK 30.0 million as compared to SEK 24.4 million a year ago. Profit after financial items was SEK 1.8 million as compared to SEK 115.0 million a year ago. Net profit for the period was SEK 1.8 million as compared to SEK 115.0 million a year ago.
The company provided guidance for 2018 and 2019. Management believes that with the operational footprint of the Group, the strong position in many markets, the level of recent and current growth investments and the differentiated business model the Group is in a good position to execute this focus on increasing market shares throughout the remainder of 2018 and into 2019.
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.
AB Fagerhult Announces Group and Company Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Guidance for 2018 and 2019