Interim Report January-March 2019

• Order intake was MSEK 1,588.2 (1,428.1), which is an overall increase of 11.2% adjusted to -13.1% for acquisitions of MSEK 305.4 and currency effects of MSEK 41.1
• Net sales were MSEK 1,594.3 (1,270.7), which is an overall growth of 25.5% adjusted to -3.7% for acquisitions of MSEK 327.7 and currency effects of MSEK 43.2
• Operating profit was MSEK 158.1 (138.6) representing a 14.1% increase with an operating margin of 9.9 (10.9)%
• Earnings after tax were MSEK 93.0 (97.0), a decrease of 4.1%
• Earnings per share were SEK 0.76 (0.85)
• Cash flow from operating activities was MSEK 82.2 (-87.3)

Comments from the CEO Bodil Sonesson:

• Firstly, a very warm welcome to all colleagues from iGuzzini who join the Group. I very much look forward to work together and I am already seeing new relationships being formed. Also, on the business side we are very pleased with iGuzzini’s good start for March.
• We enter 2019 in a healthy and strong position and for the first quarter I am very pleased with our strong development in Northern Europe, whilst some other regions have more challenges.
• In the short and medium term we have initiated performance enhancing activities to strengthen the performance in some of our regions with challenges.
• We have also initiated a strategic review to further strengthen the Group and take advantage of now being one of Europe’s largest and one of the most successful lighting companies.
• As a part of the strategic review we also separately address connectivity to ensure we continue to have market leading lighting solutions for our customers.
• So far 2019, has been, and will continue to be a busy and active year for all involved at Fagerhult Group. We look forward to the challenge.