DEVELOPMENT IN THE BUSINESS AREAS
Components
Net sales in Components increased by 34 percent to SEK 946 million (707) and EBITA increased by 61 percent to SEK 107 million (67).
Market
The excellent profit growth and improved profit margin were the result of higher sales of production components to manufacturing companies, along with several completed acquisitions. Demand continued to rise from a high level in Sweden and Finland, but remained stable in Denmark. The market was good in most major customer segments, including machinery production, electronics, special vehicles and wind power. The business climate for our operations in Norway improved substantially from a low level, thanks to stronger demand from customers in oil & gas and increased investments in infrastructure.
Energy
Net sales in Energy increased by 15 percent to SEK 535 million (466) and EBITA increased by 2 percent to SEK 56 million (55).
Market
Demand for infrastructure products for the primary and regional grids in the Nordic region grew somewhat, but tougher competition had an impact on our margins. The business climate for niche products in electrical power distribution remained stable. Sales of products for construction and installation continued to rise, as did demand for products for the manufacturing industry.
Industrial Process
Net sales in Industrial Process increased by 23 percent to SEK 498 million (404) and EBITA increased by 53 percent to SEK 50 million (33).
Market
Demand increased in a number of customer segments within the Nordic production and process industry, and we recorded very strong organic growth during the quarter. The business climate in the manufacturing industry was favourable and demand in customer segments such as machinery production and special vehicles increased. Investments in the forest and process industry rose slightly, while sales of emission measurement products for the ship supply market increased sharply.
Power Solutions
Net sales in Power Solutions increased by 4 percent to SEK 419 million (404) and EBITA increased by 11 percent to SEK 57 million (51).
Market
Underlying demand for the business area overall increased slightly. Sales of control and ergonomic products to the special vehicle industry continued to rise. Demand for battery solutions was split, with a decline in traditional battery systems for the telecom segment and growth in new types of battery technologies for several customer segments. Sales of power supply solutions to customers in telecom and wind power industries remained weak.