Interim Report January-September 2020

News provided by

Fagerhult

Oct 23, 2020, 03:21 ET

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 (12.3)%
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 0.00 (1.02)
Cash flow from operating activities was MSEK 388.8 (400.4)

Comments from CEO Bodil Sonesson:

Together with the local management teams we continue our focus in navigating our way through the Covid-19 challenge.
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 developments.
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 months.
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 launched.

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 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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Interim Report January-September 2020

SOURCE Fagerhult