Q3 – UNCHANGED RESULTS
Invoicing amounted to MSEK 880 (840).
Profit after net financial items amounted to MSEK 110 (109) for the quarter and MSEK 394 (334) for the January to September period.
Earnings per share amounted to SEK 2.73 (2.75) for the quarter and SEK 9.82 (8.40) for the January to September period.
Cash flow after capital expenditures totaled MSEK 156 (53) for the quarter and MSEK 118 (144) for the January-September period. The net debt/equity ratio was 25 percent (19).
The net debt/equity ratio was 25 percent (19).
BEIJER ALMA IN BRIEF
The Group delivered a varied performance during the quarter. Lesjöfors and Beijer Tech continued to display stable growth in volumes and earnings, while Habia reported a weaker trend. Generally speaking, demand was favorable in most geographic markets and industries. Lesjöfors’s Chassis Springs business area and Habia’s Telecom business area continued to report higher volumes and deliveries to the engineering industry than in the preceding year.
Invoicing rose 5 percent to MSEK 880 (840) during the third quarter. Adjusted for exchange rates and corporate acquisitions, the increase was 4 percent. Order bookings amounted to MSEK 912 (818), up 11 percent.
Earnings continued to improve for Lesjöfors and Beijer Tech. Within Habia, price pressure in the telecom segment and lower volumes to the nuclear power industry resulted in weaker margins. Profit before tax for the third quarter totaled MSEK 110 (109). Earnings per share amounted to SEK 2.73 (2.75). Cash flow after capital expenditures totaled MSEK 156 (53).
Invoicing during the January to September period amounted to MSEK 3,003 (2,640), up 14 percent. Adjusted for exchange rates and corporate acquisitions, the increase was 11 percent. Order bookings rose 15 percent to MSEK 3,024 (2,633). Profit before tax, which was charged with nonrecurring costs of MSEK 16, totaled MSEK 394 (334). Earnings per share amounted to SEK 9.82 (8.40).
LESJÖFORS IN BRIEF
Lesjöfors’s operations are conducted in two business areas: Industrial Springs and Chassis Springs. Both business areas performed well, driven by strong demand. Order bookings increased 15 percent during the quarter and invoicing 11 percent. Adjusted for acquisitions and exchange rates, the corresponding increases were 14 percent and 10 percent, respectively.
Invoicing in the Industrial Springs business area increased 10 percent during the quarter. In terms of organic growth, invoicing rose 9 percent. After several years of a weak industrial economy, demand has now improved and the rate of increase is stable and evenly distributed in terms of geographic region and industry.
Invoicing in the Chassis Springs business area increased 16 percent during the quarter. The company is capturing market shares. Lesjöfors conducts its own production and inventory management and can thus maintain the highest service level in the industry, even in the event of surges in demand. Chassis Springs is essentially a European business with seasonal variations, which results in higher invoicing during the first half of the year than the second. All geographic markets reported higher sales.
Operating profit increased for both business areas and totaled MSEK 103 (84).
During the January to September period, order bookings rose 20 percent to MSEK 1,828 (1,522). Invoicing amounted to MSEK 1,800 (1,524), up 18 percent.
Operating profit amounted to MSEK 374 (284).
HABIA CABLE IN BRIEF
Price pressure in the telecom industry continued and put pressure on the margins. Deliveries to the nuclear power industry were at a low level. The company also experienced operational disturbances, which resulted in prolonged delivery times and cost increases. Certain cost-cutting measures have been implemented and additional savings are planned.
Habia’s order bookings for the quarter amounted to MSEK 176 (169), up 4 percent. Invoicing declined 14 percent due to the production disturbances mentioned above and amounted to MSEK 168 (196). Fluctuations in exchange rates had a negative impact of 3 percent on order bookings and invoicing. Earnings amounted to MSEK 5 (29).
During the January to September period, order bookings rose 9 percent to MSEK 616 (565). Invoicing amounted to MSEK 624 (570), up 9 percent. Operating profit totaled MSEK 35 (67).
BEIJER TECH IN BRIEF
Beijer Tech’s sales rose 8 percent to MSEK 184 (170). Adjusted for acquisitions, the increase was 2 percent. In comparable units, invoicing remained unchanged in Industrial Products and increased 6 percent in Fluid Technology.
Beijer Tech has worked for a long time to adapt its staffing and organization to the demand situation, and earnings improvements are mainly being achieved in terms of costs. Operating profit for the quarter amounted to MSEK 10 (4).
Earlier in the year, the company acquired Svenska Brandslangsfabriken AB (Svebab), which contributed positively to its earnings trend. In late September, an agreement was signed concerning the acquisition of Packningar och Plast AB, with the transfer date scheduled for early 2018.
During the January to September period, invoicing amounted to MSEK 579 (547) and operating profit to MSEK 31 (13).