The fourth quarter
Order intake was MSEK 1,537 (1,926), a decline of -20.2% adjusted to -15.1% for currency effects of MSEK -91 and disposals of MSEK -9
Net sales were MSEK 1,701 (2,129), a decline of -20.1% adjusted to -14.8% for currency effects of MSEK -91 and disposals of MSEK -26
Adjusted operating profit was MSEK 133.7 (206.8), a decrease of 35.3% with an adjusted operating margin of 7.9 (9.7)%
Operating profit was MSEK 101.4 (206.8), a decrease of 51.0% with an operating margin of 6.0 (9.7)%
Earnings after tax were MSEK 485.1 (126.2)
Earnings per share were
SEK 2.75 (0.71)Cash flow from operating activities was MSEK 431.1 (379.3)
Comments from CEO
The quarter was ahead of expectations for net sales and adjusted operating profit and I am very pleased with the cash flow result being 1,1 BSEK for the year.
The Group's culture and values have helped us navigate our way through the Covid-19 challenge and all Group members have responded well to this with a fighting spirit. This spirit, combined with our decentralised structure, where we are close to our customers has helped us significantly.
The strategic alignment process made further progress during the quarter with clearer growth strategies and collaboration opportunities being progressed.
Today we are financially healthier than a year ago and this ongoing work will ensure we emerge even stronger from the pandemic. Since the end of Q1 we have reduced net debt by over 1 BSEK and delivered cost savings in excess of 16%.
In the year we report a 79% increase in demand for our connected lighting solution Organic Response.
Our focus on sustainability gathers pace and we have outlined the internal working process to safeguard that sustainability is in the core of all brands and that it becomes an integral part of our business and culture. Further, our commitment is demonstrated by the appointment in the quarter of a Group level Sustainability Officer.
Two recent examples of sustainability achievements are; Whitecroft winning the
UK National `MakeUK ' award for energy and sustainability and iGuzzini winning a prestigiousEcoVadis award for sustainability best practice in the sector.
An investor webcast following the Year-End Report 2020 will be held on
A link to the webcast will be available on http://ir.fagerhultgroup.com
A Management presentation will also be published on http://ir.fagerhultgroup.com.
Disclosures may be submitted by
Michael Wood CFO, mobile: +46 730 87 46 47 e-mail: michael.wood@fagerhultgroup.com
This information is inside information that
The information was submitted for publication, through the agency of the contact person set out above, at
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/year-end-report-january-december-2020,c3293356
https://mb.cision.com/Main/1781/3293356/1377596.pdf
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