Interim report January-March 2015: Q1 in line with last year—strong growth in IDC
- Order intake was 343.5 MSEK (354.7).
- Net sales increased by 2% to 351.8 MSEK (346.1).
- A record quarter for IDC.
- Operating profit up by 2% to 26.7 MSEK (26.2).
- Profit after tax was 15.1 MSEK (15.1).
- Earnings per share were 0.80 SEK (0.79).
COMMENTS FROM ACTING CEO ANNA BELFRAGE
“Beijer Electronics’ sales increased moderately and operating profit was up slightly in the first quarter.
The IDC business area remains convincing. IDC’s sales increased by almost 30% and operating profit by just over 20%. Westermo had another record quarter in terms of sales, and the period was IDC’s strongest to date. The strategic
investment program announced last fall is proceeding according to plan. The positive progress demonstrates the effectiveness of IDC’s far-ranging initiative, as well as its significant potential looking ahead.
The IAS business area experienced a challenging quarter as a result of a downturn in US sales. Approximately half of the robust terminals sold in the US are intended for the oil and gas segment, and given the current low level of oil prices, investments in extraction have stagnated. To offset the lower volumes, we’ve initiated a range of activities, both to address the oil and gas distribution chain, and to increase sales to other segments that require rugged terminals, such as mining. Demand remained sluggish in the Nordics, which also affected IAS’ sales negatively. Progress in the rest of Europe and Asia was more positive, however, with increased sales, particularly for the global product offering. The measures in IAS that were begun towards the end of last year are proceeding according to plan, and generated currency-adjusted savings of 8 MSEK in the quarter. Given IAS’ current situation, work is underway to identify further savings measures.
Developments in the US have affected group profitability, but the goal of improving underlying operating profit stands.”
INVITATION TO CONFERENCE CALL
Today, April 22, 2015, a conference call will be held for press and analysts where acting President and CEO Anna Belfrage and acting CFO Joakim Nideborn present the company and comment on the report.
Time: Wednesday April 22, at 2.00 p.m. CET
To participate in the conference please dial:
From Sweden: +46856642669
From UK: +442034281400
To access the presentation please use this link:
The report and the presentation will be available at Beijer Electronics’ website www.beijergroup.com under Investors/Presentations. A recording of the conference call will also be available here after the event.
For more information please contact:
Acting President and CEO, Anna Belfrage, tel 46 (0)40 35 86 53, mobile 46 (0)706 35 86 53
Acting CFO, Joakim Nideborn, tel 46 (0)40 35 84 49, mobile 46 (0) 707 72 29 83
Beijer Electronics 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 has evolved into a multinational group present in 19 countries and sales of 1,402 MSEK 2014. The company is listed on the NASDAQ OMX Nordic Stockholm Small Cap list under the ticker BELE. www.beijerelectronics.se