Q1 – CONTINUED STRONG demand
Invoicing amounted to MSEK 1,134 (1,059).
Profit after net financial items amounted to MSEK 155 (138) for the quarter.
Earnings per share amounted to SEK 3.86 (3.43) for the quarter.
Cash flow after capital expenditures totaled MSEK neg: 50 (neg:99) for the quarter.
BEIJER ALMA IN BRIEF
Demand remained favorable during the first quarter of the year, and both order bookings and invoicing reached record levels. The strong economic climate is reflected in many areas, and includes most industries and geographic markets.
Lesjöfors reported favorable growth in both the Industry and Chassis Springs business areas. Although Habia experienced strong demand, total invoicing declined compared with the preceding year due to the extremely high deliveries to the telecom sector in the year-earlier period. Beijer Tech reported growth in both business areas.
During the quarter, Habia signed a breakthrough order in the offshore sector totaling approximately MSEK 100, with delivery primarily scheduled for 2019. Order bookings totaled MSEK 1,284 (1,069), up 20 percent. Invoicing rose 7 percent to MSEK 1,134 (1,059). In comparable units, order bookings increased 19 percent and invoicing 6 percent. Fluctuations in exchange rates had a positive impact of MSEK 15 on invoicing, primarily in Lesjöfors.
Profit after net financial items for the quarter was the strongest to date and amounted to MSEK 155 (138). Fluctuations in exchange rates and signed forward agreements had a net positive impact of approximately MSEK 2 on earnings. Lesjöfors and Beijer Tech increased their earnings compared with the year-earlier period, while Habia’s earnings declined. Earnings per share totaled SEK 3.86 (3.43). Cash flow after capital expenditures amounted to a negative MSEK 50 (neg: 99). Cash flow in the year-earlier period was charged with acquisition payments of MSEK 74. The net debt/equity ratio was 40.4 percent (24.3). This increase was mainly due to the fact that dividends totaling MSEK 286 were paid in March, while dividends for the preceding year were paid in April.
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: Industry and Chassis Springs. Both business areas performed well and delivered favorable growth. Order bookings rose 7 percent to MSEK 700 (655) during the quarter. Invoicing amounted to MSEK 690 (625), up 10 percent.
The Industrial Springs business area was positively impacted by a strong industrial economy. Invoicing increased 9 percent to MSEK 478 (440). Growth was far-reaching and included most industries and geographic markets. The majority of geographic markets experienced volume growth. The largest increase in absolute figures was noted in Germany and the Nordic region.
Chassis Springs continued to grow. Invoicing increased 14 percent to MSEK 212 (185). By conducting its own production and inventory management, Lesjöfors is able to maintain a high service level, even in the event of surges in demand. Invoicing rose 14 percent and all geographic markets displayed growth.
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’s volumes declined year on year. However, order bookings and invoicing for the quarter were significantly higher than in the last three quarters of the preceding year. The decrease compared with the first quarter of 2017 is due to the extremely high deliveries to the telecom sector in the year-earlier period, which have now normalized. Demand from other customer groups was favorable and volumes are increasing.
Order bookings amounted to MSEK 367 (227), up 62 percent, and included a previously announced order to the offshore industry valued at MSEK 100. Most of this order will be delivered in 2019. Invoicing fell MSEK 20 to MSEK 228, a decrease attributable entirely to the telecom sector. Operating profit totaled MSEK 14 (25).
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.
Both business areas performed well and delivered favorable growth. In total, order bookings and invoicing increased 16 percent. Adjusted for acquisitions, the increase was 9 percent. Growth was far-reaching and included most customer segments. Excluding acquisitions, invoicing increased 14 percent in Industry and 8 percent in Fluid Technology.
Invoicing amounted to MSEK 217 (187) and operating profit to MSEK 12 (9).