Clean air with Nederman solutions for industrial air filtration

Interim report January-March 2017

  • Incoming orders amounted to SEK 731.1m (738.8), which adjusted for currency effects is a decrease of 4.8% compared with the same period last year.
  • Net sales amounted to SEK 760.6m (724.7), which adjusted for currency effects is an increase of 1.0% compared with the same period last year.
  • Operating profit was SEK 48.8m (30.8), giving an operating margin of 6.4% (4.3).
  • Net profit was SEK 31.9m (20.1).
  • Earnings per share were SEK 2.73 (1.72). 

CEO’s comments

“Nederman had a good sales development in the first quarter of the year. Sales grew to SEK 760.6m (724.7). Profitability was also strengthened in the quarter with an operating profit of SEK 48.8m (30.8), corresponding to an operating margin of 6.4 percent (4.3). The positive development of sales was achieved through good growth in the EMEA and APAC regions, while development in the Americas was considerably weaker. Profitability was boosted, particularly in EMEA and APAC. Incoming orders for the Group as a whole decreased to SEK 731.1m (738.8).

The European market continues to be stable and is characterised by cautious optimism. In the Americas, the market situation continues to be characterised by great uncertainty with prolonged decision-making processes, although there are positive undertones in the USA. In Canada and Mexico, uncertainty has increased about the US administration's intentions, particularly in regard to a possible renegotiation of the NAFTA trade agreement. The uncertain situation in the region is expected to continue for several quarters to come.

Our greatest challenge continues to be the uncertainty around sales of major projects in the USA and China. Demand in the USA has been affected by a downturn in industrial production in 2016. In China, we see lower economic activity, which limits the number of major investments and the economic development in the country continues to be difficult to assess. In the longer-term, however, Nederman sees future business opportunities in China due to increased environmental awareness.

In the Americas, development was generally weak in all markets, while many countries in EMEA saw good growth. With the exception of China, the majority of markets in APAC developed positively in the quarter. Growth was particularly marked in India and Australia. In Australia, the business climate has improved recently with rising optimism for the future.

Overall, the first quarter of the year was a good quarter for Nederman with good growth in both sales and earnings."

Sven Kristensson, CEO


 
For further information, please contact:

Sven Kristensson, CEO
Telephone: +46 42 18 87 00
e-mail: sven.kristensson@nederman.com

Matthew Cusick, CFO
Telephone: +46 42 18 87 00
e-mail: matthew.cusick@nederman.com


This information is information that Nederman Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 16:00 a.m.  CET on April 19, 2017.

 
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 11 countries on five continents. The Nederman Group is listed on Nasdaq Stockholm and has around 1,800 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

The full report (PDF)