Beijer Electronics Group’s Annual Report for 2016
Beijer Electronics Group extensively realigned its operations in 2016. The Group also safeguarded its significant product development initiatives. Overall, this has created a new platform for healthy and profitable long-term growth. All this is reviewed in Beijer Electronics Group’s Annual Report and the English version is published today on the company’s website: www.beijergroup.com.
Sales and earnings for the full year 2016 were below expectations, and remain unsatisfactory. Investment plans for the Westermo and Korenix business units have taken longer to implement, while the market was fairly slow. The realignment of the Beijer Electronics business entity is essentially complete, but some market segments like oil & gas remained weak.
However, in his statement, CEO Per Samuelsson emphasizes that progress is in the right direction. Operations improved progressively through the year. An operating loss in the first quarter went positive for the rest of the year. The year also concluded strongly, with order intake up by 20% on the average for the first three quarters.
In tandem with its realignment, Beijer Electronics set a new vision aiming at 2021, which is fundamentally based on what is termed the Fourth Industrial Revolution, or Industry 4.0. Digitalization is transforming market demand. The trend is towards machinery and systems linking up, and connecting to the Internet. Solutions feature data control, connect and present for mission-critical applications. Within industrial data communication, Westermo and Korenix are completing the strategic initiatives and investment programs previously decided. Beijer Electronics Group is reiterating the targets for each business unit.
Building on the actions taken in 2016, Beijer Electronics Group expects to be able to achieve higher sales and better underlying EBIT in 2017. Simultaneously, it has set its sights on achieving targets of growth of 7% and an operating margin of 10% during the course of 2018.
The Annual Report is available on the company’s website in English and Swedish. The printed English Annual Report will be distributed at the end of May to those who have registered their intention to receive it via Beijer Electronics Group’s subscription service. The Annual Report is also available to order from the company by phone on +46 (0)40 35 86 00 or email: email@example.com.
For more information please contact:
President and CEO, Per Samuelsson, tel 46 (0)40 35 86 10, mobile 46 (0)708 58 54 40
CFO Joakim Laurén, tel 46 (0)40 35 84 96, mobile 46 (0)703 35 84 96.
Beijer Electronics Group AB (publ) is a fast growing technology company with extensive experience of industrial automation and data communication. The company develops and markets competitive products and solutions that focus on the user. Since its start-up in 1981, Beijer Electronics Group has evolved into a multinational group with sales over 1.1 billion SEK 2016. The company is listed on the NASDAQ OMX Nordic Stockholm Small Cap list under the ticker BELE. www.beijergroup.com