Fagerhult: Year-end report January-December 2020

News provided by

Fagerhult

Feb 23, 2021, 06:07 ET

HABO, Sweden, Feb. 23, 2021 /PRNewswire/ -- 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 Bodil Sonesson

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 `Make UK' award for energy and sustainability and iGuzzini winning a prestigious EcoVadis award for sustainability best practice in the sector.

An investor webcast following the Year-End Report 2020 will be held on 23 February 2021 at 15:30 CET.

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.

CONTACT:

Disclosures may be submitted by

Bodil Sonesson CEO, mobile: +46 722 23 76 02 e-mail: [email protected]

Michael Wood CFO, mobile: +46 730 87 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 11:25 CET on 23rd of February 2021.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/fagerhult/r/year-end-report-january-december-2020,c3293356

The following files are available for download:

https://mb.cision.com/Main/1781/3293356/1377596.pdf

Year-end report January-December 2020

SOURCE Fagerhult