Strong growth, increased order bookings and improved operating profit

  • Net sales: SEK 234.0 million (170.5)
  • Operating profit: SEK 8.3 million (5.4)
  • Order bookings: SEK 264.4 million (168.1)
  • Order backlog: SEK 177.7 million (115.7)
  • Earnings per share before and after dilution: SEK 0.67 (0.42)

President and CEO Fredrik Asplund:

“In Q1 2017, we recorded sales growth of 37 percent, of which 11 percent was organic. We are continuing to see positive growth in our main markets, with the Norwegian market above all starting to show evidence of growth again. Abstracta and Lammhults Möbel performed well both in Sweden and in several of our export markets. Our latest acquisitions, Morgana and Ragnars, report a strong first quarter. At Public Interiors, the German and Danish markets were slightly weaker than anticipated, but other markets performed well.

Order bookings in Q1 rose by 57 percent – 17 percent organic – with strong growth in Sweden and our export markets. We gained a number of major projects during the quarter, several of which will be delivered on an ongoing basis over the year.

The operating margin increased during the quarter by 0.3 percentage points relative to the preceding year, to 3.5%.

The number of major projects in Q1 was relatively high, leading to lower gross margins. The structure of the new company acquisitions also has a negative effect on the comparison with the gross margin for last year.

We enter the second quarter with an order backlog that is 54 percent higher – 9 percent organic – than in the preceding year, which paves the way for continued strong growth in 2017.”

Lammhult, 27 April 2017

Lammhults Design Group AB

Fredrik Asplund
President and CEO

If you have any questions please contact

Fredrik Asplund, President and CEO, tel. +46 70 862 20 38, or Stefan Liljedahl, CFO, tel. +46 76 868 46 88.