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Nederman Holding AB, Sweden
COMPANY WATCH
Nederman Holding AB, Sweden
Sartorius AG, Germany
Key Figures (SEK million) Second quarter ended 30.6 2015
2014
Key Figures (E million) Second quarter ended 30.6 2015
Net Sales
775.5
663.8
Cost of Goods Sold
499.5
424.8
Gross Profit
276.0
239.0
1.0
Operating Profit Net Result
R&D Expenses
Sales Revenue Of Which: Bioprocess Solutions Lab Products & Services
277.3
219.9
198.9 78.4
153.4 66.5
1.7
Cost of Sales
135.8
113.5
64.3
28.1
Gross Profit
141.5
106.4
38.9
17.1
EBIT
48.3
32.8
Net Profit
36.4
16.7
301.7
215.4
Six months ended 30.6 2015
2014
Six months ended 30.6 2015
2014
1502.7
1287.0
Cost of Goods Sold
970.0
826.2
Gross Profit
532.7
460.8
2.5
5.1
102.4
36.7
62.8
18.6
Net Sales
R&D Expenses Operating Profit Net Result
2014
Order Intake
Sales Revenue Of Which: Bioprocess Solutions Lab Products & Services
535.3
423.0
384.9 150.5
291.1 131.9
Cost of Sales
267.9
218.6
Gross Profit
267.4
204.4
EBIT
90.8
58.0
Net Profit
91.8
31.7
577.8
440.5
Order Intake
COMMENT Industrial air filtration specialist Nederman has posted net sales of SEK775.5 million for the second quarter of fiscal 2015, an increase of 16.8% on the prior year. Adjusted for currency and acquisition effects the year-onyear increase was 4.0%. Orders and profitability were also up. New business rose 15.3% on the year prior to reach SEK812.2 million, while operating profit excluding acquisition and restructuring costs jumped 68.8% to SEK64.3 million and net profit 127.5% to reach SEK38.9 million. Nederman’s CEO Sven Kristensson said the performance reflected higher volumes, lower costs and positive currency effects across most of its trading regions. “During the quarter the Americas continued to report a strong performance, driven 10
Filtration Industry Analyst
by good demand in the USA,” he said. “The development trend in Europe, the Middle East and Africa (EMEA) has continued, with product sales, sales of smaller systems and service maintaining positive progress. It is pleasing to report that we booked a large order worth SEK30 million to a UK aluminium smelting plant during the quarter.” In contrast, Kristensson said there had been a slowdown in the Asia Pacific region (APAC). “Incoming orders were weak due to a series of delays and drawn-out decision-making, which are outside Nederman’s control,” he commented. Our positive view of APAC, and especially demand for environmental technology in China, has not changed over the long term.” ■ www.nederman.com
COMMENT Sartorius AG has posted revenues for the second quarter of fiscal 2015 of E277.3 million, a 26.1% increase on the prior year. Order intake also rose strongly, up 40.0% on the 2014 comparator at E301.7 million, while net profit soared 118.0% to E36.4 million. The company’s Bioprocess Solutions division led the way with a 27.9% increase in sales to E198.9 million, 52.0% lift in new orders to E223.2 million and a 39.2% jump in EBITDA to E51.2 million. For the corresponding six month period, Sartorius’ total sales rose 26.6% to E535.3 million, while net profit surged 193.3% to E91.8 million. “The dynamic development of the first three months
continued on into the second quarter so that we showed overall strong first-half performance,” Sartorius CEO, Joachim Kreuzburg, said. “For Bioprocess Solutions, business developed better than expected in an expansive market environment. We are continuing on the growth track, especially in North America. At the same time, Lab Products & Services reported a robust growth trend, despite the uneven economic situation.” Kreuzburg said the company expected the strong performance to continue into the second half of the year with total sales, including revenue contributed by acquisitions, likely to grow 12% on 2014. ■ www.sartorius.com
August 2015
Nederman Holding AB, Sweden
Sartorius AG, Germany
Key Figures (SEK million) Second quarter ended 30.6 2015
2014
Key Figures (E million) Second quarter ended 30.6 2015
Net Sales
775.5
663.8
Cost of Goods Sold
499.5
424.8
Gross Profit
276.0
239.0
1.0
Operating Profit Net Result
R&D Expenses
Sales Revenue Of Which: Bioprocess Solutions Lab Products & Services
277.3
219.9
198.9 78.4
153.4 66.5
1.7
Cost of Sales
135.8
113.5
64.3
28.1
Gross Profit
141.5
106.4
38.9
17.1
EBIT
48.3
32.8
Net Profit
36.4
16.7
301.7
215.4
Six months ended 30.6 2015
2014
Six months ended 30.6 2015
2014
1502.7
1287.0
Cost of Goods Sold
970.0
826.2
Gross Profit
532.7
460.8
2.5
5.1
102.4
36.7
62.8
18.6
Net Sales
R&D Expenses Operating Profit Net Result
2014
Order Intake
Sales Revenue Of Which: Bioprocess Solutions Lab Products & Services
535.3
423.0
384.9 150.5
291.1 131.9
Cost of Sales
267.9
218.6
Gross Profit
267.4
204.4
EBIT
90.8
58.0
Net Profit
91.8
31.7
577.8
440.5
Order Intake
COMMENT Industrial air filtration specialist Nederman has posted net sales of SEK775.5 million for the second quarter of fiscal 2015, an increase of 16.8% on the prior year. Adjusted for currency and acquisition effects the year-onyear increase was 4.0%. Orders and profitability were also up. New business rose 15.3% on the year prior to reach SEK812.2 million, while operating profit excluding acquisition and restructuring costs jumped 68.8% to SEK64.3 million and net profit 127.5% to reach SEK38.9 million. Nederman’s CEO Sven Kristensson said the performance reflected higher volumes, lower costs and positive currency effects across most of its trading regions. “During the quarter the Americas continued to report a strong performance, driven 10
Filtration Industry Analyst
by good demand in the USA,” he said. “The development trend in Europe, the Middle East and Africa (EMEA) has continued, with product sales, sales of smaller systems and service maintaining positive progress. It is pleasing to report that we booked a large order worth SEK30 million to a UK aluminium smelting plant during the quarter.” In contrast, Kristensson said there had been a slowdown in the Asia Pacific region (APAC). “Incoming orders were weak due to a series of delays and drawn-out decision-making, which are outside Nederman’s control,” he commented. Our positive view of APAC, and especially demand for environmental technology in China, has not changed over the long term.” ■ www.nederman.com
COMMENT Sartorius AG has posted revenues for the second quarter of fiscal 2015 of E277.3 million, a 26.1% increase on the prior year. Order intake also rose strongly, up 40.0% on the 2014 comparator at E301.7 million, while net profit soared 118.0% to E36.4 million. The company’s Bioprocess Solutions division led the way with a 27.9% increase in sales to E198.9 million, 52.0% lift in new orders to E223.2 million and a 39.2% jump in EBITDA to E51.2 million. For the corresponding six month period, Sartorius’ total sales rose 26.6% to E535.3 million, while net profit surged 193.3% to E91.8 million. “The dynamic development of the first three months
continued on into the second quarter so that we showed overall strong first-half performance,” Sartorius CEO, Joachim Kreuzburg, said. “For Bioprocess Solutions, business developed better than expected in an expansive market environment. We are continuing on the growth track, especially in North America. At the same time, Lab Products & Services reported a robust growth trend, despite the uneven economic situation.” Kreuzburg said the company expected the strong performance to continue into the second half of the year with total sales, including revenue contributed by acquisitions, likely to grow 12% on 2014. ■ www.sartorius.com
August 2015