HABO, Sweden--Regulatory News:
· The order intake was MSEK 2,349.5 (2,066.7), which is an increase of 12.4 per cent after adjustment for currency effects of MSEK -101.6 and acquisitions of MSEK 128.0
· Net sales were MSEK 2,172.6 (1,864.5), which is an increase of 14.6 per cent after adjustment for currency effects of MSEK -94.0 and acquisitions of MSEK 130.0
· The operating profit was MSEK 238.8 (160.9), representing an operating margin of 11.0 (8.6) per cent
· Earnings after tax were MSEK 173.9 (111.9), an increase of 55 per cent
· Earnings per share were SEK 4.59 (2.96)
· Cash flow from operating activities was MSEK 39.0 (129.6)
Comments from CEO Johan Hjertonsson:
· The Group delivered a record half year performance with order intake at MSEK 2,350, net sales at MSEK 2,173 and an operating profit at MSEK 239.
· Strong also were the second quarter figures for order intake of MSEK 1,208, net sales of MSEK 1,141 and an operating profit of MSEK 154, an increase of 74% year on year. All three measures set new quarterly records.
· The cash flow from operating activities for the quarter was MSEK 90.5 which eliminated the negative start in the first quarter.
· Earnings per share at SEK 4.59 was better than the previous year’s SEK 2.96.
· LED share of net sales in the half year was just over 70 per cent, demonstrating continued success from the investments in product development and LED luminaire manufacturing across the Group.
· The order backlog remains at a high level as we enter the second half year.
· Sales growth during the period was healthy in all of our reporting business areas as many of the operating units performed well, some of them under regionally difficult conditions.
· Management continues to monitor the effects of the EU Referendum result in the UK where we have seen immediate currency effects.
Fagerhult is one of Europe’s leading lighting groups with approximately 2,700 employees and operations in more than 20 countries. We create modern products and exciting, energy-efficient and environmentally-adapted lighting installations, successfully integrated into their individual environments. The Group includes such strong brands as Fagerhult, Ateljé Lyktan, LTS, Whitecroft Lighting, Designplan Lighting, Eagle Lighting, I-Valo, Arlight, Lighting Innovation and LED Linear. AB Fagerhult is listed on the Nasdaq OMX Nordic Exchange in Stockholm.
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