Fagerhult: Year-End Report 2013
HABO, Sweden--(BUSINESS WIRE)--Regulatory News:
· Orders received amounted to MSEK 3,241.7 (3,121.7). After adjustments for acquired operations and currency effects, orders received increased by 5 % compared with the previous year
· Net sales totalled MSEK 3,095.2 (3,085.1). After adjustments for acquired operations and currency effects, sales increased by 2 %
· Operating profit was MSEK 277.5 (251.5). The operating margin was 9.0 (8.2) %
· Profit after tax amounted to MSEK 182.6 (159.1)
· Earnings per share was SEK 14.48 (12.61)
· The Finnish company, I-Valo Oy, which was acquired in June, has been included in the consolidated results as of the third quarter 2013
· Fagerhult has signed an agreement to acquire Arlight in Turkey. This acquisition has recently been completed following the approval of the competition authorities
· A dividend of SEK 7.25 (6.50) per share and a 3 for 1 stock split are proposed
Comments by CEO Johan Hjertonsson:
· Orders received were strong during the fourth quarter and, after adjustments for acquired operations and currency effects, orders received increased by 16 %, compared with the fourth quarter 2012
· Net sales increased by 5 % in the fourth quarter compared with the previous year, after adjustments for acquired operations and currency effects. This was due to increases in market shares, in combination with a somewhat improved Retail Lighting market in, among other markets, Germany and France.
· Measures to improve the gross margin and reduce fixed expenses have contributed positively to total profits.
· Operating profit improved to MSEK 83.8 (58.1) during the fourth quarter, corresponding to an operating margin of 9.8 (7.5) %.
· We have seen a gradual improvement in the market during the fourth quarter, which we deem will continue during 2014.
· The proportion of LED lighting sales continues to rise and exceeded 30 % of total net sales in the fourth quarter.
· The acquisition of Arlight in Turkey will strengthen our position in Europe and will provide a gateway to the Turkish market.
Fagerhult is one of Europe’s leading lighting groups with approximately 2,200 employees and operations in 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, I-Valo and Arlight. AB Fagerhult is listed on the Nasdaq OMX Nordic Exchange in Stockholm.
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