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    FAG   SE0010048884

AB FAGERHULT

(FAG)
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AB Fagerhult : To strengthen our presence on the North American market, the Fagerhult Group acquires the remaining shares in Sistemalux

08/30/2021 | 12:22pm EST

To strengthen and further develop our presence on the North American market the Fagerhult Group has acquired the remaining 30% shares in Sistemalux Inc.

Sistemalux is based in Montreal, Canada, and have a long-lasting business relationship with iGuzzini. Besides offering premium lighting solutions under their own brand, Sistemalux have been responsible for the successful introduction of the iGuzzini brand in the US and Canada. In 2020 the net sales was approximately 300 MSEK. In 2018, iGuzzini acquired 70% of the shares in Sistemalux and now we acquire the remaining 30%.

'We are looking forward to continue our journey in North America, a lighting market of similar size as the European market. Full ownership of Sistemalux allows us to further invest and build our presence on the North American market. This is a key strategic growth opportunity for us, and I am very happy to welcome all colleagues fully to Fagerhult Group', says Bodil Sonesson, CEO Fagerhult Group.

The process was completed August 30, 2021.

For more information please contact:

CEO,  Bodil Sonesson, +46 722 23 76 02
bodil.sonesson@fagerhultgroup.com

CFO, Michael Wood, +46 730 87 46 47
michael.wood@fagerhultgroup.com

This information is information that AB Fagerhult is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 18:20 CET on August 30 2021.

The Fagerhult Group is one of Europe's leading lighting companies with 4,200 employees in 28 countries and a turnover of 6.800 MSEK in 2020. We consist of 13 brands organized into four business areas - Collection, Premium, Professional and Infrastructure.

All our brands produce high-quality professional lighting solutions and we work mainly on specifications together with our partners. Together we cover almost every professional lighting application and our presence is worldwide.

https://news.cision.com/fagerhult/r/to-strengthen-our-presence-on-the-north-american-market--the-fagerhult-group-acquires-the-remaining-,c3382319

https://mb.cision.com/Main/1781/3382319/1461546.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 7 285 M 797 M 797 M
Net income 2021 508 M 55,6 M 55,6 M
Net Debt 2021 2 806 M 307 M 307 M
P/E ratio 2021 21,5x
Yield 2021 1,94%
Capitalization 10 868 M 1 187 M 1 189 M
EV / Sales 2021 1,88x
EV / Sales 2022 1,73x
Nbr of Employees 4 213
Free-Float 92,0%
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Number of Analysts 0
Last Close Price 61,70 SEK
Average target price 55,00 SEK
Spread / Average Target -10,9%
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Managers and Directors
Bodil Sonesson President & Chief Executive Officer
Michael Wood Chief Financial Officer & Secretary
Jan Olof Svensson Chairman
Eric Douglas Vice Chairman
Cecilia Fasth Independent Director
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