HABO, Sweden, Oct. 23, 2020 /PRNewswire/ --
The third quarter:
- Order intake was MSEK 1,664 (2,038), a decline of -18.4%
adjusted to -15.1% for currency effects of MSEK -69
- Net sales were MSEK 1,700 (2,066), a decline of -17.7%
adjusted to -14.7% for currency effects of MSEK -62
- Adjusted operating profit was MSEK 144.1 (255.1), a
decrease of 43.5% with an adjusted operating margin of 8.5
- Operating profit was MSEK 66.8 (255.1), a decrease of
73.8% with an operating margin of 3.9 (12.3)%
- Earnings after tax were MSEK 4.9 (181.1)
- Earnings per share were SEK
- Cash flow from operating activities was MSEK 388.8
Comments from CEO Bodil
- Together with the local management teams we continue our
focus in navigating our way through the Covid-19
- Group colleagues have responded well to the challenges of
Covid-19 and we are making good progress on the implementation of
the strategic alignment process, which means we will emerge
stronger from the pandemic.
- From this process we have identified opportunities for
collaboration and growth in focussed markets, segments and business
areas and have initiated early steps in these strategic
- The third quarter was ahead of expectations for net sales
and adjusted operating profit.
- Organic order intake was -15,1% in the quarter compared
to -24,0% in Q2.
- Order intake does, however, remain a concern but the
quarter on quarter positive trend is encouraging. Continued cost
reductions and cash generation activities deliver a solid platform
to improve results and reduce net debt in the coming
- In the Group we are increasing our focus on
sustainability. Our new mission statement clearly shows our
ambitions. A leading example is the launch of Whitecroft Vitality,
a circularity platform for lighting within the Whitecroft brand
where the first accredited cradle to cradle product was recently
Disclosures may be submitted by
Bodil Sonesson CEO, mobile: +46 722 23 76 02
Michael Wood CFO, mobile: +46 730 87 46 47
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 09:05 CET on
23rd of October 2020.
Fagerhult Group is one of Europe's leading lighting companies with 4,700
employees in 28 countries and a turnover of 7,800 SEK mn in 2019. 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.
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