Clean air with Nederman solutions for industrial air filtration

Interim report January-March 2019

Quarter 1, 2019 

  • Incoming orders amounted to SEK 1,019.0m (781.7), which currency adjusted is an increase of 22.9 percent compared with the same period last year.
  • Net sales amounted to SEK 1,036.4m (785.8), which currency adjusted is an increase of 24.4 percent compared with the same period last year.
  • Adjusted operating profit was SEK 73.1m (62.9)*, giving an adjusted operating margin of 7.1 percent (8.0)*.
  • Operating profit was SEK 72.1m (62.9)*, giving an operating margin of 7.0 percent (8.0)*.
  • Net profit was SEK 46.2m (36.7)*.
  • Earnings per share were SEK 1.32 kr (1.05)*.

* 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

The first quarter of the year was a stable quarter for Nederman. Orders received increased to SEK 1,019.0m (781.7m) equivalent to a currency-neutral growth of 22.9 percent. Net sales also developed positively in the quarter and totalled SEK 1,036.4m (785.8m), equivalent to a currency-neutral growth of 24.4 percent. Adjusted operating profit increased to SEK 73.1m (62.9m)*.

Our new organisation is now in place
During 2018, Nederman established a new organisation consisting of four global divisions: Nederman Extraction & Filtration Technology, Nederman Process Technology, Nederman Duct & Filter Technology and Nederman Monitoring & Control Technology. The objective of the new organisation is to strengthen the Group's profitability, improve our efficiency, utilise all the possibilities of digitalisation and contribute to effective sustainability work both internally and for our customers.

The organisation is now fully operational and we are currently integrating Auburn FilterSense, which is part of Nederman Monitoring & Control Technology and Luwa, which is part of Nederman Process Technology. Both companies were acquired in 2018 and are expected to make significant positive contributions to our operations in 2019.

Our vision: Nederman – the clean air company
In 2019, Nederman celebrates its 75-year jubilee. From the very beginning, our business idea was clean air. Today, the environment and sustainability are more important than ever and the demands are continually increasing to contribute actively to more efficient production and reduced emissions in industry. The next generation of solutions in the field of purifying industrial airflows is being developed and Nederman is at the forefront.

Our vision is that by combining our substantial industrial knowhow with all the possibilities of digitalisation, we can create completely new solutions that in an even better way than today contribute to safe working environments, stable production conditions and management of emissions to the local environment. We call this vision “Nederman – the clean air company”.

Outlook
Many of our markets, not least the USA and China, continue to be characterised by uncertainty. The risk of trade conflicts and financial uncertainty means that decisions about major investments are being delayed and that large projects are being postponed. Despite these geopolitical challenges, our basic view is one of cautious optimism. Environmental issues will continue to be important for our customers and we have strengthened our positions in several central areas where we see that future growth will occur.”

Sven Kristensson, CEO

For further information, please contact:

Sven Kristensson, CEO  Matthew Cusick, CFO
Telephone: +46 42 18 87 00        Telephone: +46 42 18 87 00
e-mail: sven.kristensson@nederman.com       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 08:00 a.m. CET on April 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)