MUNTERS FOURTH QUARTER AND FULL YEAR 2017
Strong order intake driven by Data Centers and Air Treatment. Earnings impacted by operational challenges.
Fourth quarter 2017
- Order intake increased by 22% to SEKm 1,821 (1,491) and 23% organically. The quarter included a SEKm 450 Data Center order received in November 2017.
- Net sales decreased by 1% to SEKm 1,811 (1,823) while organic growth was flat, impacted by lower net sales in Data Centers.
- The order backlog increased by 36% to SEKm 2,365 (1,741).
- Operating profit (EBIT) decreased by 44% to SEKm 127 (228), mainly due to lower earnings in Data Centers.
- Adjusted EBITA decreased by 36% to SEKm 174 (274), corresponding to an adjusted EBITA margin of 9.6% (15.0).
- Net income was SEKm 152 (105).
- Cash flow from operating activities was SEKm -8 (114).
- Earnings per share before and after dilution were SEK 0.83 (6.32).
January - December 2017
- Order intake increased by 13% to SEKm 7,197 (6,373), of which 10% organically.
- Net sales increased by 9% to SEKm 6,604 (6,040), of which 6% organically.
- Operating profit (EBIT) decreased by 22% to SEKm 453 (577), mainly due to lower profitability in Data Centers.
- Adjusted EBITA decreased by 14% to SEKm 675 (781), corresponding to an adjusted EBITA margin of 10.2% (12.9).
- Net income was SEKm 173 (85).
- Cash flow from operating activities decreased to SEKm 235 (277).
- Earnings per share before and after dilution were SEK 1.45 (5.08).
- The Board of Directors proposes that a dividend of SEK 0.30 per share be paid for the financial year 2017.
Events after period end
- Katarina Lindström was appointed President Global Operations and will assume her position during the spring of 2018.
Presentation / Audiocast / Telephone conference
A telephone conference will be held 16 February 10.00 CET. CEO John Peter Leesi and CFO Jonas Ågrup will present and comment on the report for the fourth quarter and full year 2017.
Details for the telephone conference;
SE: +46 8 503 36562
UK: +44 20 3008 9807
US: +1 855 831 5947
The presentation can also be followed via webcast: http://www.financialhearings.com/event/10288
For further information, please contact:
John Peter Leesi, CEO Munters Group
Phone: +46 8 626 63 01
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. THE INFORMATION WAS RELEASED FOR PUBLICATION, THROUGH THE AGENCY OF THE CONTACT PERSON SET OUT ABOVE, AT 08:00 CET ON 16 FEBRUARY 2018.
Founded in 1955, Munters is a leading global provider of energy efficient and mission critical precision climate control solutions for commercial and industrial applications. Munters is organised in four business areas: Air Treatment, Data Centers, AgHort and Mist Elimination, and supported by Global Operations and Global Services organisations. Each of these business areas addresses a set of end markets, customer industries and applications, with an offering based on Munters’ technologies and specialist competencies.
The Company operates globally with more than 3,500 FTEs working in over 30 countries to provide Munters’ products and solutions to a diverse range of customers, including a wide range of global blue chip companies, in over 180 countries. Today, the Company has a production footprint that includes 18 major manufacturing facilities and seven assembly units across 16 countries worldwide. Munters reports annual net sales in the region of SEK 6,6 billion and is listed on Nasdaq Stockholm. For more information see www.munters.com