Summary of a new record year
Quarter 4, 2023
- Orders received amounted to
SEK 1,467m (1,396), equivalent to currency neutral growth of 4.8 percent compared with the same period last year. -
Net sales amounted to
SEK 1,501m (1,515), equivalent to a currency neutral decline of 0.8 percent compared with the same period last year. -
Adjusted EBITA was
SEK 171.6m (161.1), giving an adjusted EBITA margin of 11.4 percent (10.6). -
Operating profit amounted to
SEK 149.2m (136.8), corresponding to an operating margin of 9.9 percent (9.0). -
Net profit was
SEK 77.3m (90.9). -
Earnings per share were
SEK 2.20 (2.59). -
Cash flow from operating activities amounted to
SEK 212.3m (87.8).
January -
- Orders received amounted to
SEK 6,005m (5,425), equivalent to currency neutral growth of 6.8 percent compared with the same period last year. -
Net sales amounted to
SEK 6,188m (5,179), equivalent to currency neutral growth of 14.9 percent compared with the same period last year. -
Adjusted EBITA was
SEK 714.9m (566.6), giving an adjusted EBITA margin of 11.6 percent (10.9). -
Operating profit amounted to
SEK 592.8m (480.2), corresponding to an operating margin of 9.6 percent (9.3). -
Net profit was
SEK 340.9m (328.7). -
Earnings per share were
SEK 9.71 (9.37). -
Cash flow from operating activities amounted to
SEK 576.3m (345.7). -
The Board of Directors proposes a dividend of
SEK 3,95 (3.75) per share.
CEO's comments
"Strong end to 2023 provides good starting position
Nederman ended 2023 with healthy order growth, high sales, strong cash flow and improved profitability. We can look back on a year when, despite a macro environment that remained challenging, we advanced our positions in the global market for industrial air filtration with the launch of new products, we strengthened our presence in expanding industries and we invested in improved efficiency and digitalisation.
We can look back on another successful year. During the fourth quarter, sales amounted to
The work to strengthen our position in industries with good long-term growth prospects is a top priority for us. In these industries, we are investing in new technology and customers often have very high demands with respect to equipment and systems to handle hazardous substances and particles which, taken together, favours a global leader in industrial air filtration such as Nederman. In the fourth quarter, all divisions secured orders in one or more of the prioritised growth segments, such as battery manufacturing, renewable energy, food, recycling and the defence industry. Moreover, we continued to make progress with previous strong product launches. Interest in Nederman SAVE is steadily increasing as a growing number of customers understand the energy savings enabled by the technology, and several orders were secured in
GOOD QUARTER FOR OUR DIVISIONS
Our divisions strengthened their positions during the quarter. Nederman Extraction & Filtration Technology increased orders received, spearheaded by EMEA, though inflationary pressure and a nonrecurring cost for filter upgrades suppressed profitability. Nederman Process Technology can look back on a record year for sales and earnings and secured new, major orders from customers in metal recycling during the year. Although Nederman Duct & Filter Technology reported lower sales, more efficient production and logistics, and initiatives in new segments, continued to drive profitability. Nederman Monitoring & Control Technology continued to deliver profitably on a large order backlog and is increasing investments in production to meet future higher demand for digital monitoring and control of production processes.
POSITIVE WITH LARGE ORDER BACKLOG
Even if the performance of our divisions remains positive, the risk remains that challenges in our supply chain, inflationary pressure and a weaker economic outlook will impact customers' investment decisions. Moreover, the geopolitical uncertainty is growing with a risk of increased protectionism in the long term. Nederman, however, stands strong in this macro environment. In terms of our large order backlog and our ability to increase our share of sales in industries with good structural growth, we take a cautiously positive view for the first half of the year.
For further information, please contact:
Telephone: +46 42 18 87 00
e-mail: sven.kristensson@nederman.com
Telephone: +46 42 18 87 00
e-mail: matthew.cusick@nederman.com
This information is information that
About Nederman
Nederman is an environmental technology company and a global leader in industrial air filtration dedicated to capturing, measuring, controlling and cleaning air to make industrial production more efficient, safe and sustainable. Based on industry leading products, solutions and services in combination with an innovative IoT platform we deliver knowledge and facts needed to optimise performance and guarantee emissions compliance to protect people, planet and production.
Corporate registration number: 556576-4205
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