Interim report Q1

1,166

Net revenues amounted to MSEK 1,166 (1,134).

161

Operating profit totaled to MSEK 161 (159).


13.8%

Operating margin was 13.8 percent (14.0).

155

Profit after net financial items totaled to MSEK 155 (155).


1.99

Earnings per share amounted to SEK 1.99 (1.93).

1,151

Order bookings amounted to MSEK 1,151 (1,283).


Invoicing (MSEK)[BARGRAPH{graphname:Invoicing}{title:Q1 18,value:1134}{title:Q2 18,value:1216}{title:Q3 18,value:1016}{title:Q4 18,value:1043}{title:Q1 19,value:1165}]
Operating profit (MSEK)[BARGRAPH{graphname:Operating profit}{title:Q1 18,value:155}{title:Q2 18,value:183}{title:Q3 18,value:145}{title:Q4 18,value:126}{title:Q1 19,value:161}]

BEIJER ALMA IN BRIEF

Order bookings declined 10 percent during the quarter to MSEK 1,151 (1,283). In organic terms, meaning excluding corporate acquisitions and fluctuations in exchange rates, the decrease was 14 percent compared with the year-earlier period, when Habia signed a major offshore order worth MSEK 100. Net revenues increased 3 percent to MSEK 1,165 (1,134). In organic terms, however, net revenues declined 1 percent. The trend varied between industries and geographic regions. Sales to industrial customers increased in all markets except Germany, while the trend in the telecom sector and automotive aftermarket was weak.

Operating profit amounted to MSEK 161 (159) and profit after net financial items to MSEK 155 (155). Earnings per share increased to SEK 1.99 (1.93).

The return on shareholders’ equity was 22.4 percent (25.2) and the return on capital employed was 22.7 percent (25.3).

Cash flow after capital expenditures totaled MSEK –72.4 (–49.8). Cash flow for the year was charged with corporate acquisitions amounting to MSEK 48.3 (0).

At the end of the quarter, the equity ratio was 50.8 percent (52.0) and the net debt/equity ratio was 23.8 percent (40.4). Dividends of MSEK 307 had been decided on but not yet paid out at the end of the quarter, which impacted shareholders’ equity but not net debt.

The number of employees during the period increased to 2,622 (2,579).


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. Its operations are conducted in two business areas: Industry and Chassis Springs.

Demand in the Industry business area was favorable in all business areas except Germany. Demand in the Chassis Springs business area declined, however, compared with a record-breaking 2018. Overall, order bookings amounted to MSEK 654 (700), down 7 percent. In organic terms, the decrease was 10 percent. Invoicing remained unchanged at MSEK 690, but declined 3 percent in organic terms. Operating profit amounted to MSEK 126 (141).

Within the Industry business area, the trend with respect to customers in the German automotive industry remained weak. Other customer groups and geographic regions experienced strong, growing demand. Net revenues for Industry amounted to MSEK 504 (478), corresponding to an increase of 5 percent.

Demand in the Chassis Springs business area was lower than in the strong year-earlier period. The decline in invoicing was attributable to a combination of weaker demand from end customers and a reduction in inventories among the Group’s customers. Net revenues declined 12 percent to MSEK 186 (212). The most significant decreases were noted in the UK and Russia.

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HABIA CABLE IN BRIEF

Cable is one of Europe’s largest manufacturers of custom-designed cables for customers in the telecom, transport, nuclear power, defense, offshore and other industries. The company has manufacturing operations in Sweden, Germany, China and Poland, and conducts sales worldwide. Its operations are conducted in two business areas: Telecom and Other Industry.

Within the Telecom business area, the market remained weak. The Other Industry business area reported favorable demand, with particularly strong growth in volumes from engineering and defense customers. Order bookings for Habia fell to MSEK 237 (367) during the quarter. Net revenues amounted to MSEK 220 (228), down 3 percent. In organic terms, net revenues declined 7 percent. Habia’s operating profit increased to MSEK 16 (14) during the quarter.

Net revenues for Telecom amounted to MSEK 52 (92). No major infrastructure projects are currently being rolled out and the market remained weak.

Other Industry reported a strong performance. Net revenues increased 24 percent to MSEK 168 (135). The upturn in the defense and engineering industry was far-reaching. The offshore orders signed in 2018 are now in production and the delivery rate will be gradually increased during the year.

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BEIJER TECH IN BRIEF

Beijer Tech specializes in industrial trading and manufacturing. The company sells consumables, components and machinery to Nordic industrial companies, and represents several of the world's leading manufacturers. The company's operations are conducted in two business areas: Industrial Products and Fluid Technology.

Sales volumes increased in both the Industrial Products and Fluid Technology business areas. This growth included most customer groups. Order bookings increased 20 percent to MSEK 260 (217). Net revenues amounted to MSEK 256 (217), up 18 percent. In organic terms, net revenues increased 11 percent. Operating profit totaled MSEK 24 (12).

Demand in the Industrial Products business area was stable. Net revenues rose 10 percent to MSEK 130 (118). Two acquisitions were carried out during the quarter which will contribute approximately MSEK 70 in invoicing on an annual basis. The two companies contributed MSEK 8 in net revenues during the quarter and Industrial Products reported organic growth of 3 percent.

Fluid Technology delivered a strong performance. Net revenues increased 27 percent, of which 19 percentage units was organic growth. While the upturn was far-reaching, Svenska Brandslangsfabriken reported the most significant increase in sales.

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