Q4 – FAVORABLE DEMAND
Invoicing amounted to MSEK 968 (887).
Profit after net financial items amounted to MSEK 123 (113) for the quarter and MSEK 517 (447) for the year.
Earnings per share amounted to SEK 3.07 (2.48) for the quarter and SEK 12.89 (10.87) for the year.
Cash flow after capital expenditures totaled MSEK 68 (30) for the quarter and MSEK 187 (174) for the full year.
The net debt/equity ratio was 20 percent (16).
The Board proposes an unchanged dividend of SEK 9.50 per share.
BEIJER ALMA IN BRIEF
Demand remained favorable in the fourth quarter, and invoicing increased 9 percent. Overall, however, the Group delivered a varied performance. Lesjöfors and Beijer Tech displayed favorable growth, while Habia underperformed compared with the invoicing level in the year-earlier period. Broken down by industry, the Group reported strong growth in the engineering industry, while the telecom and nuclear power sectors, which are key segments for Habia, experienced a weak trend in the quarter. The Chassis Springs business area in Lesjöfors continued to grow, but not at the same high rate as in earlier quarters of the year.
Invoicing rose 9 percent to MSEK 968 (887) in the fourth quarter. Adjusted for exchange rates and corporate acquisitions, the increase was 7 percent. Order bookings amounted to MSEK 1,008 (897), up 12 percent.
Lesjöfors and Beijer Tech reported improved earnings, while Habia’s earnings declined. In total, operating profit increased to MSEK 125 (115). Profit before tax amounted to MSEK 123 (113). Earnings per share totaled SEK 3.07 (2.48). Cash flow after capital expenditures amounted to MSEK 68 (30).
Invoicing for the full year amounted to MSEK 3,971 (3,527), up 13 percent. Adjusted for exchange rates and corporate acquisitions, the increase was 10 percent. Order bookings rose 14 percent to MSEK 4,031 (3,530). Profit before tax amounted to MSEK 517 (447). Earnings per share totaled SEK 12.89 (10.87).
LESJÖFORS IN BRIEF
Lesjöfors is a full-range supplier of standard and specially produced industrial springs as well as wire and flat strip components. The company is a dominant player in the Nordic region and one of the largest companies in its industry in Europe. Lesjöfors has manufacturing operations in Sweden, Denmark, Finland, Germany, Latvia, the UK, Slovakia, the US, Mexico, Singapore, Thailand and China.
Lesjöfors conducts its operations in two business areas: Industrial Springs and Chassis Springs. Both business areas reported favorable demand and growth. Order bookings in the fourth quarter increased 14 percent to MSEK 579 (507). Invoicing amounted to MSEK 551 (485), up 14 percent. Adjusted for acquisitions and exchange rates, the increase in invoicing was 10 percent.
Invoicing in the Industrial Springs business area rose 14 percent during the quarter. Organic growth accounted for 11 percent of this increase. Growth was evenly distributed across industries and geographic markets, and was driven by the strong industrial economy.
Invoicing in the Chassis Springs business area also increased 14 percent during the quarter. Lesjöfors is the only company in the industry that conducts its own production and inventory management and can thus maintain a superior service level, even in the event of surges in demand. Sales to all geographic markets increased.
Operating profit increased for both business areas and amounted to a combined total of MSEK 103 (96).
Order bookings increased 19 percent to MSEK 2,408 (2,028) for the full year. Invoicing totaled MSEK 2,351 (2,009), up 17 percent. Operating profit amounted to MSEK 477 (380).
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
Habia Cable is one of Europe’s largest manufacturers of custom-designed cables for customers in the telecom, transport, nuclear power, defense and other industries. The company has manufacturing operations in Sweden, Germany, China and Poland, and conducts sales worldwide.
Habia reported a weak quarter, mainly due to price pressure in the telecom sector and low volumes in the nuclear power industry. Operational disruptions, which company has now resolved, had a negative impact on delivery volumes and resulted in increased costs. Cost-cutting measures have been implemented and additional savings are planned.
Order bookings in the fourth quarter amounted to MSEK 196 (205), down 4 percent. Invoicing declined 15 percent to MSEK 185 (217), primarily due to lower deliveries to the nuclear power industry. Adjusted for currency effects, the decrease in invoicing was 13 percent. Earnings declined to MSEK 7 (30).
Order bookings for the full year increased 5 percent to MSEK 812 (770).Invoicing amounted to MSEK 809 (787), up 3 percent. Operating profit totaled MSEK 42 (97).
BEIJER TECH IN BRIEF
Beijer Tech specializes in industrial trading in the Nordic region and represents several of the world’s leading manufacturers. The company's operations are conducted in two business areas: Industrial Products and Fluid Technology.
Beijer Tech’s invoicing for the fourth quarter rose 26 percent to MSEK 233 (185). Adjusted for acquisitions, the increase was 18 percent. In comparable units, invoicing increased 23 percent in Industrial Products and 11 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 earlier in the year were mainly achieved in terms of costs. During the quarter, the company’s earnings were also boosted as a result of higher volumes. Operating profit for the quarter increased to MSEK 16 (loss: 5).
Invoicing for the year amounted to MSEK 811 (731) and operating profit to MSEK 47 (8).