Munters Q4 and Year-end report 2019

”Platform for the future strengthened in 2019”

Fourth Quarter 2019

• Market demand mixed with areas of good growth. Order intake and net sales increased by 6% respective 5% and were flat organically, on the back of a strong fourth quarter 2018
• Order intake mainly driven by larger order in Data Centers US, whereas the industrial segment saw weaker demand. Business area FoodTech grew in the US and Asia
• Net sales increased in business area AirTech, where as business area FoodTech net sales declined despite good growth in Asia
• Adjusted EBITA margin was slightly lower compared to last year as a result of changed product mix and temporarily higher labor costs related to growth in certain areas

January-December 2019

• Stable demand, with strong order intake in Data Centers US and Services within business area AirTech
• Order intake in AirTech was offset by lower order intake in business area FoodTech. They were impacted by a weak swine market due to the African Swine Fever (ASF) and uncertainties about effects from trade tariffs
• Net sales grew driven by good growth in Data Centers US, Mist Elimination and Services in AirTech, offset by a decrease in FoodTech
• Adjusted EBITA increased 20% driven primarily by cost savings from the Munters Full Potential (FPP) program. During 2019 cost savings well in line with the estimated yearly run-rate of SEKm 210 from the FPP program were achieved
• The Board of Directors propose no dividend to be paid for 2019

Events after period end

• During 2019 a strategic evaluation of the operations of Data Centers and Mist Elimination has been conducted. In February 2020, this resulted in a decision to keep these in Munters
• Yesterday an organizational change was announced. The change aims at creating a clearer business ownership and capture local synergies and value drivers across the Group by aligning the value chain within the business areas

 
At 9:00 the President and CEO, Klas Forsström, together with the Group Vice President and CFO, Annette Kumlien will present the report in an audiocast with telephone conference.   

Audiocast:
More information: http://www.financialhearings.com/event/12364

Link to Audiocast: https://tv.streamfabriken.com/munters-q4-2019

Dial-in number for the telephone conference:

SE: +46856642706

UK: +443333009269

US: +18335268398

 
The year-end report, presentation material and a link to the audiocast will be available on https://www.munters.com/en/investor-relations/

Contact person:

Ann-Sofi Jönsson, Head of Investor Relations
Phone: + 46 (0)730 251 005
Email: ann-sofi.jonsson@munters.se

About Munters Group

Munters is a global leader in energy efficient air treatment and climate solutions. Using innovative technologies, Munters creates the perfect climate for customers in a wide range of industries. Munters has been defining the future of air treatment since 1955. Today, around 3,100 employees carry out manufacturing and sales in more than 30 countries. Munters Group AB reports annual net sales of more than SEK 7 billion and is listed on Nasdaq Stockholm. For more information, please visit www.munters.com.

This information is information that Munters Group 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 person set out above, at 08.00 CET on February 13, 2020.

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