DEVELOPMENT IN THE BUSINESS AREAS
Components
Net sales in Components increased in the fourth quarter by 30 percent to SEK 1,102 million (848) and EBITA increased by 46 percent to SEK 116 million (79). Net sales during the financial year increased by 30 percent to SEK 3,904 million (3,001) and EBITA increased by 45 percent to SEK 414 million (284).
Market
This business area performed very well both in terms of volumes and earnings in the quarter, with continued good performance and operating margin. The production component market from Nordic manufacturing companies remained favourable. The strength in demand arose in most major customer segments, including machinery production, wind energy, special vehicles and electronics. From a geographical perspective, the highest rate of growth was in Norway and Finland, while business conditions were stable at a high level in Denmark and Sweden.
Energy
Net sales in Energy increased in the fourth quarter by 38 percent to SEK 644 million (467) and EBITA increased by 24 percent amounted to SEK 70 million (56). Net sales during the financial year increased by 28 percent to SEK 2,357 million (1,846) and EBITA increased by 13 percent to SEK 244 million (215).
Market
Market conditions for this business area remained positive. Willingness to invest in infrastructure products for national and regional grids remained very favourable. The highly competitive situation has been addressed through continued efficiency measures and a clearer customer focus. The business climate in niche products for electric power distribution and the manufacturing industry, as well as for electrical installation products, was stable at a high level.
Industrial Process
Net sales in Industrial Process increased in the fourth quarter by 59 percent to SEK 707 million (445) and EBITA increased by 85 percent to SEK 71 million (38). Net sales during the financial year increased by 37 percent to SEK 2,305 million (1,677) and EBITA increased by 54 percent to SEK 219 million (142).
Market
This business area’s fourth quarter was characterised by remarkably strong organic growth and a good margin increase. The performance was mainly due to very strong demand for products relating to emissions measurement and purification in the marine segment. Sales to the process and manufacturing industries, as mechanical industry and special vehicles, performed very well in both the Nordic region and the rest of Europe.
Power Solutions
Net sales in Power Solutions increased in the fourth quarter by 13 percent to SEK 414 million (365) and EBITA increased by 9 percent to SEK 54 million (50). Net sales during the financial year increased by 6 percent to SEK 1,597 million (1,510) and EBITA increased by 13 percent to SEK 223 million (198).
Market
Demand was stable for this business area as a whole during the quarter. Sales for the business area’s largest customer segment, special vehicles, remained good and the market for customised battery solutions showed positive development. Business conditions for power supply solutions in customer segments such as telecom and wind power remained good. Restructuring costs had a negative impact on the margin in the quarter.