Year-end report 2018

The full year
»    Net revenue totalled SEK 2,044 million (1,663)
»    Operating profit amounted to SEK 236 million (220)
»    Profit before tax amounted to SEK 219 million (200)
»    Profit after tax amounted to SEK 171 million (158)
»    Earnings per share were SEK 12.27 (11.44)

The fourth quarter
»    Net revenue totalled SEK 549 million (432)
»    Operating profit amounted to SEK 63 million (54)
»    Profit before tax amounted to SEK 57 million (50)
»    Profit after tax amounted to SEK 45 million (42)
»    Earnings per share were SEK 3.23 (3.07)

Important events during the year
​»    The acquisition of Blowtech Group was concluded
​»    The Dutch enterprise Polyketting was acquired

CEO’s comments on the Group’s development during the period
The Group’s operations finished the year positively, with both higher invoicing and strong operating profit in relation to the comparison period. The market situation was stable and demand remained good. For the full year, sales growth stopped at 23 per cent, of which the new acquisitions Blowtech and Polyketting jointly accounted for 21 per cent. Operating profit improved by just over 7 per cent, a result that entails a new peak for the Group, calculated in Swedish kronor. The profit margin amounted to 10.7 per cent. The new companies performed on a par with our expectations and contributed to new business opportunities.
      The acquisition of Blowtech in January meant that sales within Industrial Products almost doubled. At the same time, the business unit’s operating profit exceeded the previous year’s result by 74 per cent. Alongside Blowtech, Cipax increased its volumes slightly, although the margins were adversely affected by exchange rate effects and a less favourable product mix. Ackurat strengthened its position on several markets and reported continued strong figures. 
      The increase in volume within the Industrial Solutions business unit amounted to just over 5 per cent. Operating profit fell by 9 per cent compared to the previous year, principally as a result of an altered assignment structure. Deliveries to major contract customers increased steadily for the Fredriksons companies, undertakings that will have a favourable impact in future as well. The extent of the project-based operations decreased overall in relation to the outcome during the comparison period. NPB stands out positively, however, presenting new, strong full year figures at the same time as having an order situation for the coming year that is satisfactory.
      The companies within the Precision Technology business unit reported 14 per cent higher invoicing and an operating profit that exceeded that of the comparison period by 19 per cent. The year was characterised by a favourable market climate, with the companies achieving a good return on the streamlining work they have carried out. Ongoing strengthening of resources through investments in new machinery and extended production areas was also successful.

Future development
During 2018, the Group’s growth principally was the result of acquisitions, although many of our companies also grew organically, particularly within the Precision Technology business unit. The acquired companies are successfully supplementing existing operations and also contributing with new points of contact. Throughout the organisation, there is a strong drive to achieve progress. In terms of the market, we are not currently witnessing any general decline, and therefore consider that the conditions for continued positive development in the near future are good.