HABO, Sweden--(BUSINESS WIRE)--Regulatory News:
Fagerhult (STO:FAG)
- Orders received MSEK 733 (798). After adjustments for currency effects, orders received have decreased by 5% compared with the previous year
- Net sales MSEK 689 (775). After adjustments for currency effects, sales have decreased by 8%.
- Operating profit MSEK 34.3 (60.3), an operating margin of 5.0 (7.8) %.
- Profit after tax MSEK 21.2 (32.5)
- Earnings per share SEK 1.68 (2.58)
Comments by CEO Johan Hjertonsson:
- Continued lower demand in the late-cycle Indoor Lighting and Retail Lighting segments remains stable on a low level, in line with previous estimates.
- We anticipate that the market will remain weak through the coming quarters.
- The lower level of sales has meant a decrease in profits compared with the same period during the previous year. A considerable portion of this has been compensated for through cost savings.
- The gross margins were at the same level as in the first quarter of the previous year, and higher than the preceding quarter.
- Fixed expenses have been reduced by MSEK 50, on an annual basis compared, with the first quarter of the previous year, after adjustments for currency effects.
- Investments in R&D continue.
- The strong Swedish krona has had a negative effect on profit of MSEK 8 compared with the previous year.
- Red Dot Design Award for Fagerhult’s Appareo fixture.
Fagerhult is one of Europe’s leading lighting groups with approximately 2,200 employees and operations in 17 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 and Designplan Lighting. AB Fagerhult is listed on the Nasdaq OMX Nordic Exchange in Stockholm.
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