Annual Report for Beijer Electronics Group AB (publ) in English
BEIJER GROUP is in the midst of an exciting and promising journey on the expansive market for digital solutions that connect different systems in wired and wireless networks and enable various IIoT applications. The Group, whose history is largely as a distributor of automation products, has repositioned as a leading-edge technology company, with a high level of expertise in software and hardware. Read more in BEIJER GROUP’s Annual Report, published today in English language version on the company’s website www.beijergroup.com.
In 2018, BEIJER GROUP consolidated its positive trend of increased order intake, higher sales and improved earnings, consistent with the strategy set in 2016. Order intake and sales were up by nearly 30% and 20% respectively. EBIT quadrupled to 74 MSEK, and the Group is converging on its target of a 10% EBIT margin. After two years of cancelled dividends, the Board of Directors is proposing to resume the dividend to shareholders.
In his CEO’s statement, Per Samuelsson writes that last year, BEIJER GROUP executed several actions to take operations to an even higher level. The Group invested over 160 MSEK in product development in 2018, which strengthens and expands its offering to the market. The Westermo business entity adopted a new expansion plan based on its successes in the train segment and its existing product range. This involves targeted initiatives on network solutions for the rail infrastructure and power distribution segments. The Beijer Electronics business entity will be launching its new Fast Track to the Cloud solution with BoX2 in 2019, consisting of soft- and hardware, and is an IIoT application offering easy connection to existing automation equipment.
These new initiatives are investments to ensure sustained high and profitable growth, and this offensive strategy also brings an opportunity of upgrading the Group’s growth and EBIT margin targets. For the full year 2019, the Group expects to be able to keep increasing sales and earnings compared to the results for 2018.
BEIJER GROUP is publishing a separate Sustainability Report in tandem with the Annual Report. The Sustainability Report is summarized in the Annual Report.
In the coming days, the printed English language Annual Report will be distributed to those who have requested it on BEIJER GROUP’s subscription service.
Early April, The Swedish language Annual Report was made available on the company’s website and distributed to those who have requested it.
The Report is also available to order from the company by telephone on +46 (0)40 35 86 00, or by email: info@beijergroup.com.
For more information please contact:
President and CEO, Per Samuelsson, tel 46 (0)40 35 86 10, mobile 46 (0)708 58 54 40
Executive VP and CFO Joakim Laurén, tel 46 (0)40 35 84 96, mobile 46 (0)703 35 84 96.
Beijer Electronics Group is a high-tech innovator active in smart automation and networks. The Group’s open software, hardware and IIoT solutions help customers optimize processes and create reliable secure communication, complete with leading-edge user experiences. Since its start-up in 1981, Beijer Electronics Group has evolved into a multinational group with sales 1.4 billion SEK 2018.
The company is listed on the NASDAQ OMX Nordic Exchange Stockholm’s Small Cap list under the ticker BELE. www.beijergroup.com
Tags: