Sweden · Delayed Price · Currency is SEK Fagerhult Group AB Earnings Call Transcripts
Fiscal Year 2026
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Q1 saw a significant decline in sales and profitability due to weak construction markets, unfavorable sales mix, and currency headwinds, but order backlog increased and underlying demand remains stable. Strategic review is underway, with long-term growth expected from regulatory-driven renovation demand.
Fiscal Year 2025
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Q4 saw improved operating profit and margin despite a tough market, driven by structural efficiencies, successful integration of acquisitions, and expansion in smart outdoor lighting. Order intake declined, but renovation and cross-selling initiatives are gaining traction.
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Q3 2025 saw stable order intake and early signs of recovery, with net sales up 5.6% but operating profit and margin down year-over-year due to acquisition costs and lower sales volume. Integration of recent acquisitions and cost discipline continue, with a focus on cross-selling and smart lighting opportunities.
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Q2 2025 saw lower sales and order intake amid market volatility and an IT incident, but gross margins and cost reductions improved. Recent acquisitions and a strong order backlog support a gradual recovery, with renovation and smart lighting as key growth drivers.
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Record order intake and gross margin were achieved despite an 11% decline in net sales, as cost reductions began to take effect. The acquisition of Trato TLV Group strengthens the position in France and healthcare/retail lighting, while renovation markets and large projects drive future growth.
Fiscal Year 2024
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Q4 and FY 2024 saw continued market softness and volatility, with organic declines in order intake and sales, but record gross margin and strong cash flow. Cost reduction programs and restructuring are set to drive margin improvements in 2025, supported by robust product innovation and a proposed high dividend.
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Q3 2024 saw declines in sales and order intake due to softer markets, but cost reductions and restructuring are set to improve margins in Q4 and 2025. Premium segment outperformed, while Collection faced delays. Regulatory trends and smart lighting innovation support a positive medium-term outlook.
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Q2 2024 saw a return to growth in order intake and net sales, with improved gross margins but higher operating costs. Strong performance in Collection and ongoing investments in smart lighting and sustainability position the group well for future growth, especially in the renovation market.