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Indutrade AB, Sweden
COMPANY WATCH
Indutrade AB, Sweden
Hyflux Ltd, Singapore Key Figures (S$ million) Third quarter ended 30.9 2015
2014
133.5
101.0
Other Income
22.1
2.7
Materials/Consumables Expenses
77.3
Staff Costs
16.2
Revenue
Key Figures (SEK million) Third quarter ended 30.9 2015
2014
Net Sales
3036
2412
Cost of Goods Sold
2030
1597
43.4
Gross Profit
1006
815
18.2
Operating Profit
339
255
Profit before Taxation
8.1
8.0
Net Profit
7.5
13.2
Nine months ended 30.9 2015
2014
288.8
270.0
60.9
144.9
121.2
125.1
Staff Costs
47.5
56.4
Profit before Taxation
43.0
Net Profit
41.1
Revenue Other Income Materials/Consumables Expenses
Net Profit before Income Taxes
305
231
Net Profit
242
183
Nine months ended 30.9 2015
2014
Net Sales
8662
7092
Cost of Goods Sold
5734
4678
Gross Profit
2928
2414
Operating Profit
886
688
106.7
Net Profit before Income Taxes
808
618
112.6
Net Profit
636
483
COMMENT Singapore-based Hyflux has posted net sales for its third quarter of fiscal 2015 of S$133.5 million, up 32.2% on a year earlier. The Municipal sector continued to be the main contributor to the Group’s revenue, accounting for 92% of sales for the quarter, while the Industrial segment comprised 7%. In terms of geography, the Middle East and North Africa (MENA) saw its share of total sales surge reaching 58% (S$77.0 million) compared to 8% in the year earlier. The increase reflected initial contributions from the Qurayyat Independent Water Project (IWP) in Oman, as well as from a containerised desalination system project augmenting the Yanbu desalination plant in Saudi Arabia. With the substantial completion of the Tuaspring plant, the Singapore market’s share of total sales fell to 29% (S$39.0 million) down from 10
Filtration Industry Analyst
74% in fiscal 2014. Revenues from China generated 12% (S$16.0 million) of total sales, an increase from 11%, while the Rest of World made up 1% against 7%. Going forward, Olivia Lum, Hyflux chair and CEO, said the MENA and Singapore regions were expected to be the main revenue contributors for the next few years as the company develops water and waste-toenergy projects in these two regions. In October 2015, Hyflux, in partnership with Japan’s Mitsubishi Heavy Industries (MHI), signed a 25-year wasteto-energy services agreement with Singapore’s National Environment Agency to provide 3600 tonnes per day of incineration capacity from the country’s sixth and largest wasteto-energy (WTE) plant, which will be developed on a designbuild-own-operate model. ■ www.hyflux.com
COMMENT Swedish industrial manufacturer Indutrade has reported record third quarter sales of SEK3036 million, up 25.9% on the fiscal 2014 figure. Net profit rose 32.2% to SEK242 million. The sales increase reflected positive developments on a number of fronts with acquisitions contributing 13 percentage points of the gain, organic growth a further 10 points and currency movements a further three points. In the company’s Fluids & Mechanical Solutions segment, home to much of its filtration activity, revenues were up 25.4% on the year earlier at SEK316 million. The upturn came predominately from the contribution of acquisitions, which contributed 22 percentage points of the increase. In the Industrial Components segment, which also includes filters and process technology,
sales rose 37.8% on the year prior to SEK602 million. Again, acquisitions accounted for the bulk of the growth contributing 32 percentage points of the upturn. Johnny Alvarsson, Indutrade’s president and CEO, said that in a turbulent business environment, the company was continuing to grow organically and through acquisitions. “The focus on owning and developing companies in selected niches remains a continued success concept for 37 years running,” Alvarsson said. “Indutrade can once again report a quarter of record highs, with positive development of order intake, invoicing and earnings. Continued favourable order intake during the quarter, together with a high order book, also gives us a good base for the future.” ■ www.indutrade.com
January 2016
Indutrade AB, Sweden
Hyflux Ltd, Singapore Key Figures (S$ million) Third quarter ended 30.9 2015
2014
133.5
101.0
Other Income
22.1
2.7
Materials/Consumables Expenses
77.3
Staff Costs
16.2
Revenue
Key Figures (SEK million) Third quarter ended 30.9 2015
2014
Net Sales
3036
2412
Cost of Goods Sold
2030
1597
43.4
Gross Profit
1006
815
18.2
Operating Profit
339
255
Profit before Taxation
8.1
8.0
Net Profit
7.5
13.2
Nine months ended 30.9 2015
2014
288.8
270.0
60.9
144.9
121.2
125.1
Staff Costs
47.5
56.4
Profit before Taxation
43.0
Net Profit
41.1
Revenue Other Income Materials/Consumables Expenses
Net Profit before Income Taxes
305
231
Net Profit
242
183
Nine months ended 30.9 2015
2014
Net Sales
8662
7092
Cost of Goods Sold
5734
4678
Gross Profit
2928
2414
Operating Profit
886
688
106.7
Net Profit before Income Taxes
808
618
112.6
Net Profit
636
483
COMMENT Singapore-based Hyflux has posted net sales for its third quarter of fiscal 2015 of S$133.5 million, up 32.2% on a year earlier. The Municipal sector continued to be the main contributor to the Group’s revenue, accounting for 92% of sales for the quarter, while the Industrial segment comprised 7%. In terms of geography, the Middle East and North Africa (MENA) saw its share of total sales surge reaching 58% (S$77.0 million) compared to 8% in the year earlier. The increase reflected initial contributions from the Qurayyat Independent Water Project (IWP) in Oman, as well as from a containerised desalination system project augmenting the Yanbu desalination plant in Saudi Arabia. With the substantial completion of the Tuaspring plant, the Singapore market’s share of total sales fell to 29% (S$39.0 million) down from 10
Filtration Industry Analyst
74% in fiscal 2014. Revenues from China generated 12% (S$16.0 million) of total sales, an increase from 11%, while the Rest of World made up 1% against 7%. Going forward, Olivia Lum, Hyflux chair and CEO, said the MENA and Singapore regions were expected to be the main revenue contributors for the next few years as the company develops water and waste-toenergy projects in these two regions. In October 2015, Hyflux, in partnership with Japan’s Mitsubishi Heavy Industries (MHI), signed a 25-year wasteto-energy services agreement with Singapore’s National Environment Agency to provide 3600 tonnes per day of incineration capacity from the country’s sixth and largest wasteto-energy (WTE) plant, which will be developed on a designbuild-own-operate model. ■ www.hyflux.com
COMMENT Swedish industrial manufacturer Indutrade has reported record third quarter sales of SEK3036 million, up 25.9% on the fiscal 2014 figure. Net profit rose 32.2% to SEK242 million. The sales increase reflected positive developments on a number of fronts with acquisitions contributing 13 percentage points of the gain, organic growth a further 10 points and currency movements a further three points. In the company’s Fluids & Mechanical Solutions segment, home to much of its filtration activity, revenues were up 25.4% on the year earlier at SEK316 million. The upturn came predominately from the contribution of acquisitions, which contributed 22 percentage points of the increase. In the Industrial Components segment, which also includes filters and process technology,
sales rose 37.8% on the year prior to SEK602 million. Again, acquisitions accounted for the bulk of the growth contributing 32 percentage points of the upturn. Johnny Alvarsson, Indutrade’s president and CEO, said that in a turbulent business environment, the company was continuing to grow organically and through acquisitions. “The focus on owning and developing companies in selected niches remains a continued success concept for 37 years running,” Alvarsson said. “Indutrade can once again report a quarter of record highs, with positive development of order intake, invoicing and earnings. Continued favourable order intake during the quarter, together with a high order book, also gives us a good base for the future.” ■ www.indutrade.com
January 2016