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Interim report January–March 2014

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Market remains tough in Europe

  • Incoming orders amounted to SEK 620.3m (688.6), which adjusted is a decrease of 10.7%*.
  • Net sales amounted to SEK 623.2m (619.9), which adjusted is a decrease of 0.2%.
  • The operating profit excluding acquisition and restructuring costs was SEK 18.6m (16.7). The adjusted operating margin was 3.0% (2.7).
  • The operating profit was SEK 8.6m (-3.8). The operating margin was 1.4% (-0.6)
  • The operating profit was affected by SEK 10m in restructuring costs (20.0) with no acquisitions costs (0.5).
  • The net profit was SEK 1.5m (-8.2).
  • Earnings per share were SEK 0.13 (-0.70).

* adjusted for currency effects and acquisitions

CEO’s comments
“The difficult market situation in Europe continued in Q1, but has shown some signs of improvement, mainly in Southern Europe, Turkey and on distribution markets. Customers are still being cautious as a result of political uncertainty, with investment decisions being delayed and put off. There are significant differences between markets in the Asia Pacific region, with strong developments in China but weaker developments on other markets. The markets in the Americas are still characterised by positive development.

We will also remain focused on improving efficiency, especially in our European organisation and will therefore be carrying out an accelerated program for achieving more efficient administration, back-office and other support functions in EMEA. The program will run between 2014-2015 and is expected to mean savings of around SEK 40 million a year from year-end 2015. This efficiency drive will lead to one-off costs of around SEK 35 million in 2014, of which SEK 10 million in Q1.”

Sven Kristensson, CEO

  
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 23 April 2014 at 4 p.m.

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

Stefan Fristedt, CFO
Telephone +46 (0)42-18 87 00
email: 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 1,950 employees and a turnover of about SEK 2.7 billion.

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