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Pentair Inc, USA
Company WATCH
Indutrade AB, Sweden
Key Figures (SEK million) Third quarter ended 30.9 2010
Pentair Inc, USA Key Figures (US$ million) Three months ended 2.10.2010
26.9.2009
2009
Net Sales Of Which: Water
773.7
662.7
512.6
461.6
Cost of Goods Sold
537.2
455.7
Gross Profit
236.5
207.0
Net Sales Of Which: Engineering & Equipment Flow Technology Industrial Components Special Products
1732
1426
351 475 344 568
370 413 250 400
Cost of Goods Sold
1169
964
R&D
16.9
14.7
Gross Profit
563
462
90.8
66.7
Operating Profit
179
132
Operating Income Of Which: Water
58.5
55.7
Net Profit before Income Taxes
157
116
Income from Continuing Operations
55.7
38.7
Net Profit
117
84
Net Income Attributable to Pentair Inc 55.1
36.9
Nine months ended 30.9 2010
2009
Nine months ended 2.10.2010
26.9.2009
Net Sales Of Which: Engineering & Equipment Flow Technology Industrial Components Special Products
4981
4746
Net Sales
2276.9
1990.2
1029 1304 1057 1610
1222 1251 857 1437
Cost of Goods Sold
1578.5
1417.5
698.4
572.7
Cost of Goods Sold
3320
3196
Gross Profit
1661
1550
Operating Profit
472
400
Net Profit before Income Taxes
429
349
Net Profit
318
255
Gross Profit R&D
51.1
43.3
254.6
167.5
Income from Continuing Operations 153.4
88.8
Net Income Attributable to Pentair Inc 151.5
86.1
Operating Income
COMMENT COMMENT Swedish industrial manufacturer Indutrade has reported a 21% year-on-year increase in third quarter sales to SEK1732 million, while net profit was up 39% to SEK117 million. “Signals from the markets in which the group is active continue to be positive, and at present we do not see any signs of a weakening,” Johnny Alvarsson, Indutrade’s president and CEO, said. “In
November 2010
most segments we are experiencing strong markets. The exceptions are investments in energy and marine new builds, where demand is still at a lower level than previously.” For the corresponding ninemonths, total sales were up 5.0% at SEK4981 million, while net profit climbed 24.7% to SEK318 million. n www.indutrade.se
Water sales increased 11% year-over-year to US$513 million with US sales up 14% led by strong sales in municipal pumps, pool equipment and agriculture. In emerging markets, Water was up 13% led by 18% growth in Latin America while sales almost doubled in India. Residential Flow sales were up 1% on a year ago, as strong growth in the agricultural business helped offset a modest decline in US residential pumps. Pool sales increased 10% as the US business continued to grow
faster than the market due to dealer expansion and demand for energy-efficient Eco-Select products. Engineered Flow sales were up 35% reflecting strong municipal pump sales driven by the Gulf Intracoastal Waterway project in New Orleans. Commercial business declines continued, reflecting a weak commercial market. Water’s third quarter reported operating income came in at US$58 million, up 10% on the US$53 million in the same period last year. n www.pentair.com
Pump Industry Analyst
9
Indutrade AB, Sweden
Key Figures (SEK million) Third quarter ended 30.9 2010
Pentair Inc, USA Key Figures (US$ million) Three months ended 2.10.2010
26.9.2009
2009
Net Sales Of Which: Water
773.7
662.7
512.6
461.6
Cost of Goods Sold
537.2
455.7
Gross Profit
236.5
207.0
Net Sales Of Which: Engineering & Equipment Flow Technology Industrial Components Special Products
1732
1426
351 475 344 568
370 413 250 400
Cost of Goods Sold
1169
964
R&D
16.9
14.7
Gross Profit
563
462
90.8
66.7
Operating Profit
179
132
Operating Income Of Which: Water
58.5
55.7
Net Profit before Income Taxes
157
116
Income from Continuing Operations
55.7
38.7
Net Profit
117
84
Net Income Attributable to Pentair Inc 55.1
36.9
Nine months ended 30.9 2010
2009
Nine months ended 2.10.2010
26.9.2009
Net Sales Of Which: Engineering & Equipment Flow Technology Industrial Components Special Products
4981
4746
Net Sales
2276.9
1990.2
1029 1304 1057 1610
1222 1251 857 1437
Cost of Goods Sold
1578.5
1417.5
698.4
572.7
Cost of Goods Sold
3320
3196
Gross Profit
1661
1550
Operating Profit
472
400
Net Profit before Income Taxes
429
349
Net Profit
318
255
Gross Profit R&D
51.1
43.3
254.6
167.5
Income from Continuing Operations 153.4
88.8
Net Income Attributable to Pentair Inc 151.5
86.1
Operating Income
COMMENT COMMENT Swedish industrial manufacturer Indutrade has reported a 21% year-on-year increase in third quarter sales to SEK1732 million, while net profit was up 39% to SEK117 million. “Signals from the markets in which the group is active continue to be positive, and at present we do not see any signs of a weakening,” Johnny Alvarsson, Indutrade’s president and CEO, said. “In
November 2010
most segments we are experiencing strong markets. The exceptions are investments in energy and marine new builds, where demand is still at a lower level than previously.” For the corresponding ninemonths, total sales were up 5.0% at SEK4981 million, while net profit climbed 24.7% to SEK318 million. n www.indutrade.se
Water sales increased 11% year-over-year to US$513 million with US sales up 14% led by strong sales in municipal pumps, pool equipment and agriculture. In emerging markets, Water was up 13% led by 18% growth in Latin America while sales almost doubled in India. Residential Flow sales were up 1% on a year ago, as strong growth in the agricultural business helped offset a modest decline in US residential pumps. Pool sales increased 10% as the US business continued to grow
faster than the market due to dealer expansion and demand for energy-efficient Eco-Select products. Engineered Flow sales were up 35% reflecting strong municipal pump sales driven by the Gulf Intracoastal Waterway project in New Orleans. Commercial business declines continued, reflecting a weak commercial market. Water’s third quarter reported operating income came in at US$58 million, up 10% on the US$53 million in the same period last year. n www.pentair.com
Pump Industry Analyst
9