Signficantly increased margins and earnings. Full Potential program running well in line with plan.
Second quarter 2019
Order intake increased by 1% to SEKm 1,843 (1,826).
Net sales increased by 1% to SEKm 1,964 (1,939).
Operating profit (EBIT) amounted to SEKm 165 (170), including items affecting comparability of SEKm -39 (-) related to Munters Full Potential Program.
Adjusted EBITA increased by 16% to SEKm 245 (211), corresponding to an adjusted EBITA margin of 12.5% (10.9). Excluding Data Centers Europe, based on Munters intention to leave the european Data Center market, the adjusted EBITA increased by 28% corresponding to an adjusted EBITA margin of 13.8% (11.9).
Net income was SEKm 84 (122).
Cash flow from operating activities was SEKm 168 (39).
Earnings per share was SEK 0.46 (0.64).
Klas Forsström was appointed as President and CEO and will assume his role on August 12.
Annette Kumlien was appointed as Group Vice President and CFO and will assume her role on August 12.
January – june 2019
Order intake increased by 10% to SEKm 3,792 (3,461).
Net sales increased by 2% to SEKm 3,627 (3,539).
Operating profit (EBIT) amounted to SEKm 179 (247), including items affecting comparability of SEKm -100 (-) related to Munters Full Potential Program.
Adjusted EBITA increased by 8% to SEKm 352 (326), corresponding to an adjusted EBITA margin of 9.7% (9.2). Excluding Data Centers Europe, based on Munters intention to leave the european Data Center market, the adjusted EBITA increased by 26% corresponding to an adjusted EBITA margin of 11.2% (10.2).
Net income was SEKm 63 (164).
Cash flow from operating activities was SEKm 211 (38).
Net debt increased by SEKm 429 and leverage increased by 0.2 as a consequence of the new accounting standard for leases, IFRS 16.
Earnings per share was SEK 0.34 (0.86).
Munters Full Potental program was launched in February. Realized savings at June 30 was SEKm 80 on an annual basis and well in line with targeted level.
A telephone conference will be held 18 July 09.00 CET. CEO Johan Ek and CFO Jonas Ågrup will present and comment on the second quarter 2019 report.
Details for the telephone conference;
SE: +46 8 505 583 58
UK: +44 333 300 927
US: +1 833 823 0586
The presentation can also be followed via webcast:
For further information, please contact:
Johan Ek, CEO, Phone: +46 706 782 499
John Womack, Investor Relations, Phone: +46 706 782 499
This information is information that Munters Group 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 persons set out above, at 08.00 CET on 18 July 2019.
Munters is a global leader in energy efficient and sustainable air treatment solutions. Using innovative technologies, Munters creates the perfect climate for demanding industrial applications and has been defining the future of air treatment since 1955. Today, around 3,600 employees carry out manufacturing and sales in more than 30 countries. Munters has annual net sales of above SEK 7,2 billion and is listed on Nasdaq Stockholm. For more information, please visit www.munters.com.
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