Interim report January–September 2016

Quarter 3, 2016

•  Incoming orders amounted to SEK 696.6m (846.7), which organically is a decrease of 18% compared with the same period last year.
•  Net sales amounted to SEK 792.0m (796.7), which organically is a decrease of 0.9% compared with the same period last year.
•  Adjusted operating profit was SEK 68.6m (71.6), giving an adjusted operating margin of 8.7% (9.0).
•  Operating profit was SEK 68.6m (51.4), giving an operating margin of 8.7% (6.5).
•  Net profit was SEK 47.9m (28.7).
•  Earnings per share were SEK 4.09 (2.45).

January-September, 2016

•  Incoming orders was SEK 2,161.8m (2,439.6), which organically is a decrease of 11.2% compared with the same period last year.
•  Net sales amounted to SEK 2,287.2m (2,299.4), which organically is a decrease of 0.8% compared with the same period last year.
•  Adjusted operating profit was SEK 164.8m (174.0), giving an adjusted operating margin of 7.2% (7.6).
•  Operating profit was SEK 164.8m (153.8), giving an operating margin of 7.2% (6.7).
•  Net profit was SEK 111.0m (91.5).
•  Earnings per share were SEK 9.49 (7.83).

CEO’s comments

“Nederman’s core business with products and services had a solid performance during the quarter within both EMEA and the USA. It was particularly pleasing to note the strong recovery in Europe in September after weak demand in June and July in the wake of the UK’s decision to leave the EU. The European market is judged now to be considerably more stable than right after the UK referendum.

Our greatest challenge is the uncertainty around sales of major projects in the USA and China. Demand in the USA has been affected by the slowdown in industrial production in the last twelve months. A further factor that is deemed to have an effect on some investment decisions is the uncertainty associated with the forthcoming presidential election.

In China, we are seeing lower economic activity which limits the number of major investments and the economic development in the country is difficult to assess at the moment.

In the quarter, we completed the last measures relating to cost and structural adjustments in Thailand and Australia as planned. In the USA, the business for shock-absorbing cabinets for electronic equipment was phased out as planned and previously announced during the quarter.

The Group’s operating profit in the quarter was satisfactory. Cash flow from operating activities has improved in comparison with the same period last year.”

Sven Kristensson, CEO

 
For further information, please contact:
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.nedermangroup.com

This information is information that Nederman is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication on 19 October 2016 at 8 am.

Facts about Nederman

Nederman is one of the world's leading companies supplying products and solutions in the environmental technology sector focusing on industrial air filtration. The company's products and solutions contribute to reducing the environmental impact, create safe and clean working environments and improve production efficiency. Nederman offers complete solutions, including engineering and design, commissioning, installation, training and aftermarket. Sales are managed through the Group’s own sales offices and distributors in over 50 countries. Production is performed in 12 countries on five continents. The Nederman Group is listed on Nasdaq Stockholm and has around 1,900 employees. Learn more at www.nedermangroup.com

Nederman Holding AB (publ), P.O. Box 602, SE-251 06 Helsingborg, Sweden. 
Corporate registration number: 556576-4205

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