Quarter 3, 2019
- Incoming orders amounted to SEK 964.6m (817.9), which currency adjusted is an increase of 10.0 percent compared with the same period last year.
- Net sales amounted to SEK 1,088.6m (835.2), which currency adjusted is an increase of 22.4 percent compared with the same period last year.
- Operating profit amounted to SEK 77.9m (53.5)*, giving an operating margin of 7.2 percent (6.4)*.
- Net profit amounted to SEK 52.8m (33.1)*.
- Earnings per share amounted to SEK 1.50 kr (0.94).*
January – September, 2019
- Incoming orders amounted to SEK 3,027.7m (2,511.7), which currency adjusted is an increase of 14.2 percent compared with the same period last year.
- Net sales amounted to SEK 3,221.2m (2,484.9), which currency adjusted is an increase of 23.0 percent compared with the same period last year.
- Operating profit amounted to SEK 234.5m (185.7)*, giving an operating margin of 7.3 percent (7.5)*.
- Adjusted operating profit amounted to SEK 235.9m (189.5)*, giving an adjusted operating margin of 7.3 percent (7.6)*.
- Net profit amounted to SEK 153.4m (113.4)*.
- Earnings per share amounted to SEK 4.37 (3.23)*.
* In the transition to IFRS 16, the Group has applied a retroactive method, which means that the figures for the 2018 financial year have been restated in accordance with the new standard.
CEO’s comments
”Nederman performed favourably in the third quarter of the year. Total orders received amounted to SEK 964.6m (817.9), equivalent to a currency-neutral growth of 10.0 percent. Net sales totalled SEK 1,088.6m (835.2), equivalent to a currency-neutral growth of 22.4 percent. The trend in EMEA remained positive, with healthy growth in both orders received and sales. In the Americas, orders received deteriorated slightly compared with the corresponding period in 2018. Demand in the APAC region remained weak.
Development in the quarter is in line with our expectations. Europe reported another strong quarter. In the Americas, our focus on profitability improvements has now yielded results in the form of stronger operating profit. It is also worth noting that the Nederman Extraction & Filtration Technology division reported a positive performance in the US during the quarter. Meanwhile, we are continuing to see major investment decisions in the US being deferred into the future. Development in Asia was weak, with investments in China remaining at low levels.
Outlook
Many of our markets, not least the US and China, continue to be characterised by uncertainty. Trade conflicts and financial uncertainty mean that decisions on major investments are being delayed and that large projects are being postponed. We have also noted increasing signs of a general slowdown in the world economy. Despite these challenges, our basic view is one of cautious optimism. Environmental issues will remain important for our customers and we are continuing to strengthen our positions in several key areas where we see that future growth will occur. In Europe and North America, we will build on Nederman’s strengths as a leading environmental technology company. In regard to the developments in Asia, which are not aligned with our ambitions, we are continuing our intensive efforts to reverse the trend.
Nederman Future Days
Clean air is becoming a rare luxury. According to the Health Effects Institute (HEI) in the US, 95 percent of the world’s population is exposed every day to poor quality air. This is the basis for Nederman’s ambition to become the “Clean Air Company” and to show that the solutions to current problems of air pollution largely can be found in industry.
This is also why we held the Nederman Future Days event during the quarter. For one day, we brought together leading experts in the environment, politics and economics to discuss the future. Speakers included prominent names, such as Robert O’Keefe, Vice President, Health Effects Institute (HEI), Connie Hedegaard, Danish politician, former European Commissioner for Climate Action and Danish Minister for Climate and Energy as well as Anders Borg, former Swedish Minister for Finance.
The day included many important discussions about how we can tackle the global problem of poor quality air and how the industry can be part of the solution – not the problem.”
Sven Kristensson, CEO
For further information, please contact:
Sven Kristensson, CEO
Telephone: +46 42 18 87 00
e-mail: [email protected]
Matthew Cusick, CFO
Telephone: +46 42 18 87 00
e-mail: [email protected]
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 08:00 a.m. CET on October 17, 2019.
Facts about Nederman
At Nederman we are dedicated to filtering, cleaning and recycling air to make industrial environments more efficient, safe and sustainable. We shape the future by delivering performance insight, process optimisation and emissions compliance based on an innovative IoT platform in combination with industry leading products and solutions. We have been doing business since 1944 and today we are represented by more than 2300 devoted employees in 50 countries worldwide, making us a leading global company. The Nederman Group is listed on Nasdaq Stockholm. Learn more at nedermangroup.com
Nederman Holding AB (publ), P.O. Box 602, SE-251 06 Helsingborg, Sweden.
Corporate registration number: 556576-4205
The full report (PDF)