Brief: Beijer Electronics Group Q3 EBIT Up At SEK 29.9 Million

Ependion AB

28/10/2019 12:03

Oct 28 (Reuters) - Beijer Electronics Group AB  BELE.ST :
    * INTERIM REPORT JANUARY-SEPTEMBER 2019: A STRONG THIRD
QUARTER
WITH CONTINUED GROWTH INVESTMENTS
    * Q3 ORDER INTAKE SEK 405 MILLION VERSUS SEK 372 MILLION
YEAR AGO
    * Q3 NET SALES SEK 391 MILLION VERSUS SEK 338 MILLION YEAR
AGO
    * Q3 EBIT UP BY 69% TO 29.9 MSEK (17.7)
    * BEIJER GROUP ACCELERATED ITS EXPANSION IN Q3, AND THINGS
ARE
MOVING IN RIGHT DIRECTION
    * WE'RE NOTING SOME SLOWDOWN FROM OUR CUSTOMERS IN UK DUE TO
ONGOING BREXIT NEGOTIATIONS
    * OUR VIEW IS THAT BEIJER GROUP WILL STILL BE ABLE TO
INCREASE
SALES AND EARNINGS FOR 2019 COMPARED TO 2018.
    * GERMAN AUTOMATION CUSTOMERS ARE ALSO MORE CAUTIOUS, BUT
OTHERWISE, WE'RE NOT NOTING ANY SIGNIFICANT DEMAND SLOWDOWN FROM
A CYCLICAL DOWNTURN
    * THERE IS POTENTIAL FOR KORENIX TO APPROACH BREAK-EVEN FOR
FULL
YEAR 2019.
    * BEIJER ELECTRONICS BUSINESS ENTITY ACHIEVED SOME SALES
INCREASE
AND EARNINGS IMPROVEMENT, MAINLY BECAUSE OF WIDER GROSS MARGINS
AND GOOD COST CONTROL
    * UNCERTAINTY REGARDING ECONOMIC CONDITIONS IN OUR BUSINESS
ENVIRONMENT IS PERSISTING
    * WITH INCREASED SALES VOLUMES, WE'RE NOW CONVERGING ON OUR
MARGIN
TARGET OF 10%
    * OUR VIEW IS THAT BEIJER GROUP WILL STILL BE ABLE TO
INCREASE
SALES AND EARNINGS FOR FULL YEAR 2019 COMPARED TO 2018
    * WE'RE NOTING SOME SLOWDOWN FROM OUR CUSTOMERS IN UK DUE TO
ONGOING BREXIT NEGOTIATIONS
    * WITH INCREASED SALES VOLUMES, WE'RE NOW CONVERGING ON OUR
MARGIN
TARGET OF 10%.

Source text for Eikon:  ID:nWkr3VP9lx 
Further company coverage:  BELE.ST 

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