Interim report 1 January – 30 September 2018

6 November 2018 14:00

 

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The interim period
»    Net revenue totalled SEK 1,495 million (1,231)
»    Operating profit amounted to SEK 173 million (166)
»    Profit before tax amounted to SEK 162 million (150)
»    Profit after tax amounted to SEK 126 million (116)
»    Earnings per share were SEK 9.04 (8.37)

The third quarter
»    Net revenue totalled SEK 450 million (378)
»    Operating profit amounted to SEK 51 million (52)
»    Profit before tax amounted to SEK 47 million (50)
»    Profit after tax amounted to SEK 36 million (39)
»    Earnings per share were SEK 2.60 (2.76)

Important events
»    The acquisition of Blowtech Group was concluded
»    The Dutch enterprise Polyketting was acquired

 

CEO’s comments on the Group’s development during the period
The Group reported rising order volumes and overall continuing strong results during the third quarter. For the entire nine-month period, sales growth stood at just over 21 per cent, of which the new acquisitions Blowtech and Polyketting jointly contributed 20 per cent. Operating profit improved by 4 per cent and the profit margin amounted to 10.8 per cent.
       The increase in volume of just over 90 per cent within Industrial Products was primarily attributable to Blowtech, which was acquired at the start of the year. The addition of Blowtech also resulted in the business unit’s operating profit exceeding last year’s figure by 62 per cent. Ackurat reported figures on a par with the comparison period, while Cipax’s profitability weakened slightly as a result of negative currency effects and a different product mix.
       The Industrial Solutions business unit reported a growth in sales of almost 3 per cent. At the same time, operating profit fell by 17 per cent as a result of a higher proportion of customer-specific deliveries compared to the previous year. Invoicing related to project-based operations remained relatively low, although an increased number of order completions during the third quarter will produce higher volumes in future.
       The companies within the Precision Technology business unit reported 16 per cent higher invoicing and an operating profit that exceeded that of the comparison period by 35 per cent. This positive development is based on an ongoing favourable market climate combined with efficient production. Machine investments and other capacity-raising activities are continually being conducted.
       Since the end of June, the order situation for the Group’s project-related operations has improved and, bearing in mind the favourable market situation, we are anticipating that this trend will continue. Otherwise, demand for the Group’s products and services remains largely unchanged, while the fluctuations in incoming orders have been reduced. For the Group as a whole, the conditions for continued positive development in the immediate future are therefore deemed to be good.

 

  CONTACT:  
Lennart Persson, CEO
+46 36 31 22 33
lennart.persson[at]xano.se