Interim report January–September 2015

Growth in all segments in Q3

Quarter 3

• Incoming orders amounted to SEK 846.7m (701.1), which after adjustments is an increase of 10.7%* compared with the same period last year.
• Net sales amounted to SEK 796.7m (733.0), which after adjustments is a decrease of 1.6% * compared with the same period last year.
• Operating profit excluding acquisition costs and restructuring costs was SEK 71.6m (61.4). The adjusted operating margin was 9.0% (8.4).
• Restructuring costs in the period amounted to SEK 20.0m (10.0).
• Operating profit was SEK 51.4m (51.4). The operating margin was 6.5% (7.0).
• Net profit was SEK 28.7m (28.7).
• Earnings per share were SEK 2.45 (2.44).

January-September

• Incoming orders amounted to SEK 2,439.6m (2,025.7), which after adjustments is an increase of 8.1%* compared with the same period last year.
• Net sales amounted to SEK 2,299.4 (2,020.0), which after adjustments is an increase of 1.3%* compared with the same period last year.
• Operating profit excluding acquisition costs and restructuring costs was SEK 174.0m (118.1). The adjusted operating margin was 7.6% (5.8).
• Restructuring costs in the period amounted to SEK 20.0m (30.0).
• Operating profit was SEK 153.8m (88.1). The operating margin was 6.7% (4.4).
• Net profit was SEK 91.5m (47.3).
• Earnings per share were SEK 7.83 (4.03).

*) adjusted for currency effects and acquisitions

CEO’s comments

“In the third quarter of 2015 Nederman saw organic growth in incoming orders within all of its operating segments. In the EMEA segment, the core business of product sales, small systems and aftermarket continues to develop well. Development in the APAC region was strong in Q3 as some of the larger projects that we have been awaiting in China and South East Asia were implemented. The market in the APAC segment remains uncertain. Meanwhile, incoming orders in the Americas remain strong and reached a very good level of growth in Q3.

Profitability in general continued to progress positively in the quarter. The EMEA segment continues to improve its profitability, thanks to good volumes, a favourable mix and improvements in efficiency. The Americas reported a weaker quarter due to an unfavourable mix of larger projects. Profitability in the Americas is expected to return to earlier level in the coming quarters.

In order to achieve the best possible efficiency, a decision was made in Q3 to implement additional measures in the EMEA and APAC segments, which meant that a reserve was made for a further SEK 20m in restructuring costs.

In the EMEA segment, as part of the latest efficiency programme, it has emerged that further parts of the sales and support organization can be optimised and this work will now take place. In the APAC segment the aim is to adapt parts of the organization to the current market situation. These adjustments will not include China and will not affect our view of the long-term potential in APAC. The agreed measures are expected to generate annual savings of around SEK 15m starting from the middle of next year.”

  
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 20 October 2015 at 12 noon.

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

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

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 3.0 billion.

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