Year-End Report 2019

The fourth quarter:

• Order intake was MSEK 1,925.6 (1,291.2), which is an overall increase of 49.1% adjusted to -1.1% for acquisitions of MSEK 605.6 and currency effects of MSEK 42.7
• Net sales were MSEK 2,129.3 (1,488.1), which is an overall growth of 43.1% adjusted to -6.6% for acquisitions of MSEK 697.5 and currency effects of MSEK 41.2
• Operating profit was MSEK 206.8 (205.6) representing a 0.6% increase with an operating margin of 9.7 (13.8)%
• Earnings after tax were MSEK 126.2 (154.2), a decrease of 18.2%
• Earnings per share were SEK 0.71 (1.35)
• Cash flow from operating activities was MSEK 379.3 (287.4)

Comments from CEO Bodil Sonesson:

• The positive trend on organic order intake is pleasing to see, especially with the steady recovery in the UK compared to last year.
• Here in Scandinavia we see a slight weakening of demand in the last quarter and we will monitor this very closely.
• Where actions have been executed the performance improvement programme continues to benefit. 
• In some businesses the results are still slow. We expect cost down actions  start to benefit in 3 months whilst sales & marketing improvements activities take between 6-9 months to see the start of the recovery.
• Overall I am pleased with my first full 12 months in the Group, we have performed well in some challenging conditions.
• The integration of iGuzzini goes according to plan, the long term benefits remain strong, but in the short term the business needs to close out the new ERP IT installation.
• Looking forward to 2020 and beyond, growth is the number one focus and at the heart of the strategic alignment process, a process which is now fully communicated internally and we move to implementation and execution.

Disclosures may be submitted by

Bodil Sonesson CEO, mobile: +46 72223 7602 e-mail: bodil.sonesson@fagerhult.se

Michael Wood CFO, mobile: +46 73 087 46 47 e-mail: michael.wood@fagerhult.se

This information is inside information that AB Fagerhult (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and information that AB Fagerhult (publ) is obliged to make public pursuant to the Securities Markets Act.

The information was submitted for publication, through the agency of the contact person set out above, at 12:25 CET on 18th February 2020.

Fagerhult is one of Europe’s leading lighting groups with approximately 4,700 employees and operations in more than 30 countries. We create modern products and exciting, energy-efficient and environmentally-adapted lighting installations, successfully integrated into their individual environments. The Group includes such strong brands as Fagerhult, iGuzzini, Ateljé Lyktan, LTS, Whitecroft Lighting, Designplan Lighting, Eagle Lighting, I-Valo, Arlight, Lighting Innovation, LED Linear, WE-EF and Veko. AB Fagerhult is listed on the Nasdaq Nordic Exchange in Stockholm.