Fagerhult: Interim Report January-June 2020

Comments from CEO Bodil Sonesson:

• Whilst continuing to successfully manage the Covid-19 challenges the group has delivered a respectable operating result in the quarter.
• My sincere thanks and gratefulness go to every Group colleague. It has been a challenging episode but with great collaboration, hard work and a supportive company culture the second quarter exceeded expectations.
• I am happy to announce our second competence centre for our Organic Response technology, this will be based in Linköping, Sweden and opened beginning of August.
• At 1,685 MSEK, we started the second quarter with a healthy order backlog. I expect the lower second quarter order intake will be a challenge for net sales for the remainder of the year. The reducing cost base will support the operational result.
• We have a strong balance sheet and a healthy liquidity situation. We continue to increase our focus on cash generating activities as we do not know for how long the conditions will remain.
• We continue our strategic work with the new business area structure and we have identified many significant growth opportunities.
• The Group is well prepared for the future and is in a healthy condition. We will emerge strategically stronger from the current situation.