Interim report January – March 2020

The first quarter has brought many challenges and we have dealt with the one-off events arising in the first quarter. 

The first quarter:

• Order intake was MSEK 2,146 (1,588), which is an overall growth of 35.1% adjusted to +7.1% for acquisitions of MSEK 418 and currency effects of MSEK 28
• Net sales were MSEK 1,689 (1,594), which is an overall growth of 6.0% adjusted to -14.0% for acquisitions of MSEK 289 and currency effects of MSEK 29
• Operating profit was MSEK 10.7 (158.1) representing a 93.2% decrease with an operating margin of 0.6 (9.9)%
• Earnings after tax were MSEK -16.4 (93.0)
• Earnings per share were SEK -0.10 (0.76)
• Cash flow from operating activities was MSEK 87.9 (82.2)

Comments from CEO Bodil Sonesson:

• The first quarter has brought many challenges and we have dealt with the one-off events arising in the first quarter. 
• It would be too optimistic to expect that order intake continues to improve under the current Covid-19 conditions, but the Q1 growth is a strong signal of the work done during 2019 and the new strategic alignment model within the Collection, Premium, Professional and Infrastructure business areas, this is pleasing to see. For further information please see www.fagerhultgroup.com.
• Let me also say that I am extremely impressed and grateful for the reaction, attitude, approach and efforts of everybody in the Fagerhult Group in dealing with Covid-19. It is evidence of a strong and supportive culture.
• As a CEO, I am pleased with the strong balance sheet and good levels of liquidity, we have of course increased our focus on working capital and cash generating activities as we do not know for how long the Covid-19 condition remains.
• Turning to present and the future. We of course continue to follow local authority and national government regulations. However, we see changes here immediately affecting our business performance.
• Our planning now looks to the second half of 2020 and further, where we possibly see a reduction in activity and with a period of time for the recovery to turn positive. We plan to be well prepared for this. 
• Finally we remain confident that we will emerge stronger from the current pandemic situation with the objective to serve our customers better and continue to provide great lighting solutions.

Disclosures may be submitted by

Bodil Sonesson CEO, mobile: +46 722 23 76 02 e-mail: bodil.sonesson@fagerhultgroup.com

Michael Wood CFO, mobile: +46 730 87 46 47 e-mail: michael.wood@fagerhultgroup.com

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 12:00 CEST on 24th April 2020.

Fagerhult Group is one of Europe's leading lighting companies with 4,700 employees in 28 countries. We consist of 13 brands organized into four business areas – Collection, Premium, Professional and Infrastructure.

All our brands produce high-quality professional lighting solutions and we work mainly on specifications together with our partners. Together we cover almost every professional lighting application and our presence is worldwide.