MUNTERS THIRD QUARTER REPORT 2017
Strong development in Air Treatment and AgHort. Lumpy order intake and
deliveries in Data Centers weighing on Group comparisons.
Third quarter 2017
Order intake decreased by 6% to SEKm 1,489 (1,577) of which -4% organically. The third quarter 2016 included a SEKm 214 Data Center order received in August 2016.
Net sales decreased by 0.5% to SEKm 1,552 (1,560) while organic growth was flat. Only a small portion of the record high Data Center backlog was delivered in the quarter, affecting also profitability.
The order backlog increased by 14% to SEKm 2,332 (2,040).
Operating profit (EBIT) decreased by 14% to SEKm 108 (126).
Adjusted EBITA decreased by 15% to SEKm 164 (193), corresponding to an adjusted EBITA margin of 10.6% (12.3).
Net income was SEKm 51 (-2).
Cash flow from operating activities increased to SEKm 176 (90).
Earnings per share before and after dilution were
SEK 0.27 (-0.12).
January - September 2017
Order intake increased by 10% to SEKm 5,377 (4,882), of which 7% organically.
Net sales increased by 14% to SEKm 4,794 (4,217), of which 9% organically.
Operating profit (EBIT) decreased by 7% to SEKm 326 (349).
Adjusted EBITA decreased by 1% to SEKm 501 (506), corresponding to an adjusted EBITA margin of 10.4% (12.0).
Net income was SEKm 20 (-20).
Cash flow from operating activities increased to SEKm 242 (163).
Earnings per share before and after dilution were SEK 0.21 (-1.25).
Events after period end
Two large Data Center cooling orders from Facebook won with total order value of approximately SEKm 450, to be delivered in between December 2017 to June 2018.
Presentation / Audiocast / Telephone conference
A telephone conference will be held 9 November 10.00 CET. CEO John Peter Leesi and CFO Jonas Ågrup will present and comment on the report for the third quarter 2017.
Details for the telephone conference;
SE: +46 8 566 42508
UK: +44 20 3008 9806
US: +1 855 831 5946
The presentation can also be followed via webcast: https://www.financialhearings.com/event/10341
For further information, please contact:
John Peter Leesi, CEO Munters Group, Phone: +46 8 626 63 01
John Womack, Investor Relations, Phone: +46 706 782 499
THIS INFORMATION IS INFORMATION THAT MUNTERS GROUP AB IS OBLIGED TO MAKE PUBLIC PURSUANT TO THE FINANCIAL INSTRUMENTS TRADING ACT. THE INFORMATION WAS RELEASED FOR PUBLICATION AT 08:00 CET ON 9 NOVEMBER 2017.
Founded in 1955, Munters is a leading global provider of energy efficient and mission critical precision climate control solutions for commercial and industrial applications. Munters is organised in four business areas: Air Treatment, Data Centers, AgHort and Mist Elimination, and supported by Global Operations and Global Services organisations. Each of these business areas addresses a set of end markets, customer industries and applications, with an offering based on Munters’ technologies and specialist competencies.
The Company operates globally with more than 3,500 FTEs working in over 30 countries to provide Munters’ products and solutions to a diverse range of customers, including a wide range of global blue chip companies, in over 180 countries. Today, the Company has a production footprint that includes 18 major manufacturing facilities and seven assembly units across 16 countries worldwide. Munters reported annual net sales in 2016 in the region of SEK 6 billion and is listed on Nasdaq Stockholm. For more information see www.munters.com