Beijer Alma

• Net revenue increased to MSEK 2,023 (1,885)
• Adjusted operating profit (EBITA) increased to MSEK 305 (269), corresponding to an operating margin of 15.1 percent (14.3)
• Items affecting comparability amounted to MSEK -120 and pertained to the action plan in Lesjöfors
• Operating profit (EBIT) amounted to MSEK 163 (244)
• Profit after net financial items amounted to MSEK 114 (190)
• Order bookings increased to MSEK 2,071 (1,892)
• Cash flow from operating activities amounted to MSEK 222 (235)
• Earnings per share amounted to SEK 1.36 (2.35)
• The Annual General Meeting approved a dividend of SEK 3.95 (3.85) per share

Group
Despite a challenging market, sales in the quarter were favorable thanks to the Group’s geographic spread and broad product portfolio. The Group grew both organically and through acquisitions. The Nordic and US markets were weaker, while Europe and Asia were stronger.

Subsidiaries
Demand in Lesjöfors varied between geographic regions. The Chassis Springs business area noted stable demand. In the Industry business area, Europe and Asia contributed profitable growth. In the US, demand in general industry was weaker, and volumes in the medical technology segment declined, as expected, as a result of a specific project. 

To improve profitability in Lesjöfors, an action plan was initiated during the second quarter. The action plan involves streamlining production capacity in the Central European industrial spring business, including closing a factory and writing down a customized stock of springs. The plan, which includes reducing staffing by approximately 70 employees, also covers central functions within Lesjöfors. As a result of these changes, the presidents of Lesjöfors’s subsidiaries have clearer responsibility for profitability. 

Beijer Tech experienced stable demand, with 1 percent organic growth. The strongest performance was noted in Norway, followed by Sweden and Denmark, and the weakest performance was in Finland. Four of Beijer Tech’s companies are making investments to boost their capacity in order to meet the growing demand in their respective niches. Swemas, which was acquired in March, performed well during its first quarter in the Group.

Acquisitions
In April, Lesjöfors acquired a majority holding in International Industrial Springs in India. In May, Beijer Tech acquired Roykon in Denmark, a supplier of flow components.
 
Beijer Alma is prioritizing organic growth and improved profitability, but continues to seek attractive companies for acquisitions and long-term growth.