Fagerhult, A Swedish Lighting Company, Announced Its 2018 Q4 And Full-year Results

- Mar 03, 2019-

A few days ago, Fagerhult Group, a Swedish lighting company, released its performance report for 2018 Q4 and the whole year.

In 2018 Q4, net sales of Fagerhult were 1.291 billion Swedish kronor (about 930 million yuan), down 0.6% from the same period last year; after-tax earnings were 154 million Swedish kronor (about 110 million yuan), up by 89% from the same period last year; and cash flow from business activities was 287.4 billion Swedish kronor (about 207 million yuan).

In the whole year of 2018, net sales of Fagerhult were 5.621 billion Swedish kronor (about 4.05 billion yuan), with an overall growth rate of 87%; after-tax earnings were 503 million Swedish kronor (about 362 million yuan), an increase of 18% over the same period of last year; and cash flow from operating activities was 378.1 million Swedish kronor about 272 million yuan.

Bodil Sonesson, CEO of Fagerhult, said, "Overall, we are satisfied with our achievements and performance in 2018. In this year, the company completed the acquisition of Veko, the change of CEO and signed the agreement to acquire iGuzzini." The company has completed the transformation of LED technology, which can well meet the challenges of connectivity, which is one of my business and industry. A particularly important strategy. It is very important to extend our lighting knowledge and capabilities to control and connect.

In addition, he said, "In the short term, we are planning and addressing some geopolitical challenges, such as Britain's exit from Europe and Turkish lira, and returning to organic growth. In the medium term, we look forward to shaping a stronger position in selected areas."