Interim report January–June 2014

Positive performance in Asia Pacific and the Americas

Quarter 2

• Incoming orders amounted to SEK 704.3m (659.0), which adjusted is an increase of 5.8%* compared with the same period last year.
• Net sales amounted to SEK 663.8m (706.2), which adjusted is a decrease of 7.5%* compared with the same period last year.
• Operating profit excluding acquisition costs and restructuring costs was SEK 38.1m (44.6). The adjusted operating margin was 5.7% (6.3).
• Operating profit was SEK 28.1m (44.5). The operating margin was 4.2% (6.3).
• Net profit was SEK 17.1m (31.1).
• Earnings per share were SEK 1.46 (2.65).

January-June

• Incoming orders amounted to SEK 1,324.6m (1,347.6), which adjusted is a decrease of 2.6 %* compared with the same period last year.
• Net sales amounted to SEK 1,287.0m (1,326.1), which adjusted is a decrease of 4.0 %* compared with the same period last year.
• Operating profit excluding acquisition costs and restructuring costs was SEK 56.7m (61.3). The adjusted operating margin was 4.4% (4.6).
• Operating profit was SEK 36.7m (40.7). The operating margin was 2.9% (3.1).
• Operating profit was affected by SEK 20.0m in restructuring costs (20.0). No acquisitions are made (0.6).
• Net profit was SEK 18.6m (22.9).
• Earnings per share were SEK 1.59 (1.95).

* adjusted for currency effects and acquisitions

CEO’s comments
Incoming orders progressed positively in the quarter, with organic growth of 5.8%. Asia Pacific reported very strong incoming orders in the quarter, including a number of significant orders in China and South East Asia. Stable development continued in the Americas, with contributions from both North and South America. Demand remains weak in Europe and is, as previously announced, primarily related to sales of larger system solutions. This development is being driven by the fact that industrial investment in general in Europe is at a low level.

Profitability improved compared with Q1, mostly because of the higher sales volume. After the first six months of the year the operating margin is around the same level as last year.

The announced efficiency measures concerning business activities within EMEA are proceeding according to plan and earnings have been affected by a further SEK 10 million in the quarter, which means that SEK 20 million of the total non-recurring costs of SEK 35 million have now been spent.

Sven Kristensson, CEO

  This report contains forward-looking statements that are based on the current expectations of the management of Nederman. Although management believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove correct. Accordingly, results could differ materially from those implied in the forward-looking statements as a result of, among other factors, changes in economic, market and competitive conditions, changes in the regulatory environment and other government actions, fluctuations in exchange rates and other factors.

Nederman is required to disclose the information provided herein according to the Swedish Securities Exchange and Clearing Operations Act and/or the Financial Instrument Trading Act. The information was submitted for publication on 14 July 2014 at 12 noon.

 
Further information can be obtained from
Sven Kristensson, CEO                                            
Telephone +46 (0)42-18 87 00  
e-mail: sven.kristensson@nederman.com          

Stefan Fristedt, CFO
Telephone +46 (0)42-18 87 00
e-mail: stefan.fristedt@nederman.com

For further information, see Nederman’s website www.nederman.com
Nederman Holding AB (publ),
Box 602, SE-251 06 Helsingborg, Sweden
Telephone +46 (0)42-18 87 00, Telefax +46 (0)42-18 77 11
Co. Reg. No. 556576-4205

 
Facts about Nederman
Nederman is one of the world's leading companies supplying products and systems in the environmental technology sector focusing on industrial air filtration and recycling. The company's solutions are contributing to reducing the environmental effects from industrial production, to creating safe and clean working environments and to boosting production efficiency.  

Nederman's offering encompasses everything from the design stage through to installation, commissioning and servicing. Sales are carried out via subsidiaries in 25 countries and agents and distributors in over 30 countries. Nederman develops and produces in its own manufacturing and assembly units in Europe, North America and Asia.

The Group is listed on the Nasdaq OMX, Stockholm Mid Cap list; it has about 1,900 employees and a turnover of about SEK 2.7 billion.

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