Clean air with Nederman solutions for industrial air filtration

Interim report January-June 2018

Quarter 2, 2018

  • Incoming orders amounted to SEK 912.1m (849.4), which organically is a decrease of 1.3 percent compared with the same period last year.
  • Net sales amounted to SEK 863.9m (759.2), which organically is an increase of 5.2 percent compared with the same period last year.
  • Adjusted operating profit was SEK 70.4m (60.9), giving an adjusted operating margin of 8.1 percent (8.0).
  • Operating profit was SEK 66.6m (60.9), giving an operating margin of 7.7 percent (8.0).
  • Net profit was SEK 43.8m (38.3).
  • Earnings per share were SEK 1.25 kr (1.09).*

January - June, 2018

  • Incoming orders amounted to SEK 1,693.8m (1,580.5), which organically is an increase of 1.1 percent compared with the same period last year.
  • Net sales amounted to SEK 1,649.7m (1,519.8), which organically is an increase of 3.2 percent compared with the same period last year.
  • Adjusted operating profit was SEK 130.8m (109.7), giving an adjusted operating margin of 7.9 percent (7.2).
  • Operating profit was SEK 127.0m (109.7), giving an operating margin of 7.7 percent (7.2).
  • Net profit was SEK 80.6m (70.2).
  • Earnings per share were SEK 2.30 (2.00).*

* As a consequence of the share split adopted by the annual general meeting, the earnings per share in previous year has been adjusted.
  

CEO’s comments

” Nederman continued to strengthen its profitability during the quarter, with an adjusted operating profit of SEK 70.4m (60.9), giving an adjusted operating margin of 8.1 percent (8.0). In organic terms, sales had a positive development in EMEA (+7.2 percent) and in APAC (+21.4 percent), while we saw a small decline in the Americas (-1.7 percent).

For the Group's incoming orders, the situation was reversed. In the Americas, incoming orders increased organically by 11.5 percent after the booking of previously deferred orders. This applies especially to American foundries, which now show a high level of activity.

In EMEA, and most of all in APAC however, there was greater hesitancy than at the beginning of the year. The prevailing turbulence in world trade and the unclear Brexit situation lead many parties to take a more cautious approach to investments. In EMEA, incoming orders declined organically by 7.2 percent, and for APAC the equivalent figure was -13.0 percent.

Nederman assesses that the need for our products and solutions is at least just as great as before, but also that we need to work more intensively, and for a more prolonged period, to be able to complete and convert the underlying demand into concrete orders.

NEO Monitors, acquired in the autumn of 2017, has been integrated into Nederman Insight and continues to contribute positively to the Group, primarily within EMEA.

The Group’s stock of orders is at a good level and we take an unchanged positive view of 2018. During the remaining quarters of the year, we will continue to work to handle our ever-changing surrounding world in the best possible way.”

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 08:00 a.m. CET on July 12, 2018.


Facts about Nederman

The Nederman Group is a world-leading supplier and developer of products and solutions within the environmental technology sector. We filter, clean and recycle in demanding industrial environments.
Clean air is a cornerstone for sustainable production and Nederman’s products and solutions improve production efficiency, reduce environmental impact and protect employees from harmful dust, smoke and fumes. The Nederman Group is listed on Nasdaq Stockholm. The Group has 1800 employees and is present in more than 50 countries. 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)