Fagerhult: Interim Report January-June 2019

HABO, Sweden, Aug. 22, 2019 /PRNewswire/ --

The second quarter:

• Order intake was MSEK 2,200.5  (1,531.1), which is an overall increase of 43.7% adjusted to -7.9% for acquisitions of MSEK 765.5 and currency effects of MSEK 25
• Net sales were MSEK 2,055.4 (1,421.6), which is an overall increase of 44.6% adjusted to -4.3% for acquisitions of MSEK 659.3 and currency effects of MSEK 35.2
• Operating profit was MSEK 174.8 (166.6) representing a 4.9% increase with an operating margin of 8.5 (11.7)%
• Earnings after tax were MSEK 114.5 (93.0), an increase of 23.1%
• Earnings per share were SEK 0.74 (1.02)
• Cash flow from operating activities was MSEK 146.0 (-3.7)

Comments from CEO Bodil Sonesson:

• Despite some regional challenges, I am pleased with the performance of the Group for the first half year as well as iGuzzini's results being as expected.
• To deliver the short to medium term performance improvement I communicated in Q1, cost reduction actions have taken place in some businesses with the benefit expected in H2.
• The relationships with iGuzzini colleagues continue to grow and spread across the Group with involvement in our forums for purchasing, manufacturing and R&D.
• My learning and activities have been rewarding in understanding alternatives for the future.
• During the second half year we will progress the strategic review and alignment to build an even stronger Fagerhult Group for the future.

Disclosures may be submitted by

Bodil Sonesson, CEO, mobile: +46-72223-7602 e-mail: [email protected]

Michael Wood, CFO, mobile: +46-73-087-46-47 e-mail: [email protected]

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 11:35 CET on August 22, 2019.

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SOURCE Fagerhult