High level of activity at the start of the year, but varying demand among customer segments
Demand has generally remained strong for Beijer Alma’s operations, particularly in Europe and the US. In Germany and China, however, a weaker automotive industry impacted the overall picture and cost adjustments have been made. Order bookings declined 10 percent during the quarter compared with the year-earlier period, when Habia signed a major offshore order worth MSEK 100. Net revenues rose 3 percent, with earnings remaining essentially unchanged. Order bookings from industrial customers in the Nordic region, which impact all of our subsidiaries, remained strong. Cash flow declined slightly as a result of acquisitions.
Within Lesjöfors, Industrial Springs continued to grow. Net revenues increased 5 percent, despite the effects of the automotive industry in Germany. Positive developments included the trend in the US and sales synergies with other geographic regions. Within Chassis Springs, demand from end customers declined approximately 15 percent compared with the record-breaking levels in the preceding year, primarily in the UK.
Within Habia, demand in Other Industry remained strong, particularly from defense customers. Telecom was on a par with the past two quarters. Production for offshore projects began, with deliveries scheduled during the year. Additional orders were signed during the quarter.
Beijer Tech had a very strong quarter, with profitable growth in most customer segments, resulting in nearly doubled operating profit and higher margins. As a result of selected acquisitions and a clear strategic direction, the customer and product mix has improved over time.
In March, the Group acquired Encitech Connectors AB in Halmstad, which produces and distributes electronic components, with a large share comprising exports. The company has expanded Beijer Tech’s position as a long-term owner of industrial manufacturing and trading companies. In January, the Group completed the minor acquisition of Uudenmaan Murskaus, which was successfully integrated into Beijer Tech’s Finnish operations during the quarter. On May 3, Beijer Tech signed an agreement to acquire Codan AS in Norway, thereby providing a platform for the geographic expansion of the Fluid Technology business area.
President and CEO
If you have any questions, please contact:
Henrik Perbeck, President and CEO, Telephone +46 18 15 71 60, firstname.lastname@example.org
Jan Blomén, Chief Financial Officer, Telephone +46 18 15 71 60, email@example.com
This information is information that Beijer Alma AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 10:00 a.m. on February 13, 2019.
Download the report