HMS Networks: Interim report 2017, January - June
20 July 2017 - 3:50PM
First six months
-
Net sales for the first six months increased
with 33 % reaching SEK 577 m (433), corresponding to a 29 %
increase in local currencies
-
Operating profit for the first six months
reached SEK 117 m (55), equal to a 20 % (13) operating margin
-
Order intake for the first six months increased
with 40 % to SEK 626 m (447)
-
Cash flow from operating activities amounted to
SEK 109 m (51)
-
Profit after taxes totaled SEK 80 m (38) and
result per share amounted to SEK 1.72 (0,84)
-
Net sales for the last twelve months amounted to
SEK 1 096 m (788) corresponding to a 39 % increase. Operating
result amounted to SEK 211 m (101) corresponding to a 19 % (13)
operating margin
Second quarter
-
Net sales for the second quarter increased with
29 % reaching SEK 299 m (232), corresponding to a 23 % increase in
local currencies
-
Operating result reached SEK 59 m (35)
corresponding to an operating margin of 20 % (15)
-
Order intake during the second quarter was SEK
328 m (247)
-
During the second quarter was a split of shares
4:1 performed, the total number of shares are 46 818 868 after the
split
Comment from the
CEO
The strong development continues during the second quarter, with
new record levels of revenue, profit and order intake. The growth
of 29% is to a large extent driven by our organic growth, adjusted
for acquisition and currency effect, 15% compared with the second
quarter 2016.
We continue to increase costs in line with our
expansion plan. Despite the increased cost levels, we are meeting
our profitability target of 20 % operating margin in the quarter.
This is driven by the increased sales and stable gross margins.
Growth was good in all geographic markets with
stable development in Japan and Germany. In North America, the
positive trend we reported in the last quarter continued with
optimistic signals from our customers and an increased investment
willingness in the industry. The growth is driven by a positive
development of our brands, Anybus, IXXAT and eWON. Spanish Intesis,
acquired in July 2016, shows an outstanding development and we are
now establishing Intesis staff in the United States to expand the
Intesis business in the American market.
The quarter has included several marketing
activities and trade fairs, as well as several new product
launches.
In the first half of 2017 we see an underlying
enhanced business climate, new design wins and a good demand in our
key markets. We are pleased to exceed both our long-term goals of
20% sales growth and 20% operating margin, with a total growth of
33% and operating margin of 20%.
We are beginning to see longer delivery times on
electronic components, which will increase our delivery lead times
in the coming months. To minimize the impact for our customers, we
are strengthening our safety stocks of critical components as well
as expanding our production capabilities in Halmstad and Nivelles,
Belgium to meet future volume increases.
Our focus is to continue drive growth in our
current areas of business. We continue to balance our long-term
growth strategy with a restrained view of costs. In the long run,
we estimate that the market for industrial data communications will
constitute an interesting growth area and we continue to focus on
our motto "HMS Connecting Devices".
Halmstad July 20, 2017
Staffan Dahlström
Chief Executive Officer
Further information can be obtained from: CEO
Staffan Dahlström, telephone +46 (0) 35-17 29 01 or CFO Gunnar
Högberg, telephone +46 (0) 35-17 29 95. www.hms-networks-com/ir
This information is such that HMS
Networks AB (publ) is required to disclose in accordance with the
Swedish Financial Instruments Trading Act and/or the Swedish
Securities Market Act. The information was submitted for
publication at 07.50 CET on July 20, 2017.
HMS Networks AB (publ) is the
leading independent supplier of products for industrial
communication and remote management. Reported sales reached SEK 952
m in 2016. Development and manufacturing take place at the
headquarter in Halmstad, Sweden, in Nivelles Belgium, in Igualada,
Spain and in Weingarten, Germany. Local sales and support are
handled by branch offices in China, Denmark, Finland, France,
Belgium, Germany, Spain, India, Italy, Japan, UK, and USA. HMS
employs over 500 people and develops and manufactures solutions for
connecting automation devices and systems to industrial networks
under the Anybus®, IXXAT® and Intesis® brand and products for
remote management and control under the eWON® brand. HMS is listed
on the NASDAQ OMX in Stockholm, category Mid Cap, Information
Technology.
Q2 Report 2017
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: HMS Networks AB via Globenewswire
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