The Sweden-based manufacturer of industrial tools achieved record revenues resulting in an organic growth of 7% whilst operating profit increased 17%. Excluding items affecting comparability, the adjusted operating profit margin was 21.9%.
“I am very proud of our performance in the quarter and we can summarise the full year 2018 as a year where revenues, orders and profit reached all-time high,” said Rahmström.
The overall demand was largely similar compared to the same quarter in 2018. Service business continued to grow in all business areas while the order intake for equipment was mixed.
“Service is continuing to grow in importance,” said Rahmström.
“Through our service solution we stay close to our customers and we gain a deep understanding of how to support them to increase their productivity in a sustainable way. The order intake for equipment increased in most business areas. Looking ahead, the customer demand is expected to be somewhat lower than the current level.”
“We constantly challenge ourselves to improve our products and processes. During the quarter all business areas launched new products and solutions, bringing value to our customers by ensuring quality and reliability as well as reducing energy levels and optimising efficiency.”
“Lasting results are built by committed and empowered teams and that is how we turn industrial ideas into smart and innovation solutions. I will change and support our organisation to further intensity our R&D initiatives. Additional innovation power will accelerate innovation and drive organic growth.”