HMS Networks
Interim report 2016, January - September
First nine months
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Net sales for the first nine months increased with 30 % reaching SEK 687 m (527), corresponding to a 30 % increase in local currencies
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Operating profit reached SEK 110 m (87), equal to a 16 % (17) operating margin
Third quarter
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Net sales for the third quarter reached SEK 254 m (180) corresponding to a 41 % increase
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Operating result reached SEK 55 m (31) corresponding to a 21 % (17) operating margin
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Order intake during the third quarter was SEK 252 m (180)
Comment from the CEO
During the third quarter we reached new record levels both in net sales and profitability. The growth in net sales is due to a combination of organic growth and the contribution from the two
acquisitions made in 2016. Adjusted for currency effects, the growth in net sales during the quarter was 39 % of which 11 % originated from organic growth in our core business.
A strong development in our base business and a positive contribution from the acquired companies strengthened our gross margin. Together with a lower level of activities in the third quarter due to the vacation period takes HMS to a new record level of SEK 55 m in operating result. This operating margin reached 21% for the third quarter of the year.
Net sales of SEK 254 m and an operating result of SEK 55 m for the quarter means that we financially takes a substantial step forward in line with our growth strategy.
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Sales in Central Europe continues to develop well. Great Britain reached new record levels despite uncertainties around Brexit. The growth in Great Britain is driven by long-term projects now materializing in deliveries to customers. We can see a recovery in North America. This recovery is partly boosted by a strong US currency improving our reported figures. Our sales in Asia lead by Japan and China shows good development despite uncertainties related to the strengthened Japanese currency creating challenges for our customers in their export business. We see a weak growth on our Nordic markets - to some extent due to good performance during the comparable period last year.