F AB Reports Earnings Results for the Second Quarter and First Half Year Ended June 2016; Reaffirms Earnings Guidance for the Year 2020
July 13, 2016 at 08:30 am EDT
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F AB reported earnings results for the second quarter and first half year ended June 2016. The company reported increased earnings and continued growth second quarter 2016. Net sales amounted to SEK 2,942 million against SEK 2,589 million for the same period a year ago. Operating profit, excluding items affecting comparability, totaled SEK 284 million against SEK 225 million for the same period a year ago. Operating profit totaled SEK 281 million against SEK 260 million for the same period a year ago. Profit after tax totaled SEK 211 million against SEK 199 million for the same period a year ago. Earnings per share, before dilution were SEK 2.75 against SEK 2.55 for the same period a year ago.
First half year 2016 net sales amounted to SEK 5,585 million against SEK 4,986 million for the same period a year ago. Operating profit, excluding items affecting comparability, totaled SEK 504 million against SEK 432 million for the same period a year ago. Operating profit totaled SEK 501 million against SEK 466 million for the same period a year ago. Profit after tax totaled SEK 372 million against SEK 351 million for the same period a year ago. Earnings per share, before dilution were SEK
4.85 against SEK 4.51 for the same period a year ago.
The company reaffirmed earnings guidance for the year 2020. The target for 2020 remains, in which the company will generate net sales of at least EUR 2 billion and achieve an operating margin of at least 10% over a business cycle.
Fagerhult AB is a Sweden-based company engaged in the development, manufacture and marketing of lighting systems for public environments. Its product offering is divided into six groups. Office Lighting offers products and solutions for office environments, hotels and other public spaces. School Lighting offers solutions for educational premises, such as lecture halls, study rooms and libraries. Industrial Lighting offers systems, applications and products for industrial environments. Health and Hospital Care Products offers medical technical equipment, such as panels for intensive care units and treatment rooms, and dialysis columns in hospitals. Retail Lighting offers lighting solutions and service for retail environments. Outdoor Lighting offers lighting for public spaces such as roads, paths and parks, as well as architectural lighting. In June 2013, it acquired 100% of the shares of I-Valo Oy based in Iittala, Finland. In February 2014, it completed the acquisition of Arlight.
FAGERHULT GROUP AB 