HMS Networks: Interim report 2016, January - June
July 19 2016 - 1:50AM
Last twelve months
-
Net sales for the first six months increased
with 25 % reaching SEK 433 m (347), corresponding to a 25 %
increase in local currencies
-
Operating profit for the first six months
reached SEK 55 m (56), equal to a 13 % (16) operating margin
-
Order intake for the first half year increased
with 30 % to SEK 447 m (345)
-
Cash flow from operating activities amounted to
SEK 51 m (37)
-
Profit after taxes totaled SEK 38 m (37) and
result per share amounted to SEK 3.28 (3.26)
-
During the period the acquired eWON SA
contributed to net sales with SEK 71 m. Contribution to the
operating result, including amortization and acquisition cost, was
SEK 17 m
-
The first half year result was affected by SEK 5
m in acquisition expenses
-
Net sales for the last twelve months amounted to
SEK 788 m (655) corresponding to a 20 % increase. Operating result
amounted to SEK 101 m (111) corresponding to a 13 % (17) operating
margin
Second quarter
-
Net sales for the second quarter increased with
32 % reaching SEK 232 m (177)
-
Operating result reached SEK 35 m (24)
corresponding to an operating margin of 15 % (14)
-
Order intake during the second quarter was SEK
247 m (170)
-
Intesis SL, acquired late in the second quarter,
had no impact on the net sales and the operating result of the
Group
-
Costs related to the acquisition had a SEK 2.5 m
negative impact on the operating profit during the first
quarter
Comment from the
CEO
During the second quarter of 2016 we reach a new record of SEK 232
m corresponding to a 32 % increase in net sales. The increase is
partly organic with 7 % due to improving market conditions and
partly the result of getting the full effect of the acquisition of
eWON.
During the second quarter we can also report a
positive change in the product mix improving our gross margins.
This in combination with a cautious approach to new investments in
resources resulted in higher operating result during the second
quarter of 2016.
The Netbiter product group, which in the future
will be a part of the eWON brand name, shows a sales increase of 57
% during the first six months - still from low volumes. With
additional market leading products from eWON we strongly believe
that this area of the HMS product offer now will be able to develop
even better going forward.
At the end of the second quarter HMS acquired the
Spanish company Intesis Software S.L. Intesis' know how in the area
of building automation, and their well-established solutions in
this market segment will become an important addition to HMS growth
strategy. Intesis strong market position in solutions for system
integration and building automation will become a good addition to
HMS 'existing product offer. Through the acquisition of Intesis HMS
will gain a strong position with good opportunities to growth in
the market segment of building automation. Intesis is a
well-established company with good reputation which, as well as the
newly acquired eWON, will further strengthen HMS' unique value
proposition towards manufacturers of industrial products and
machines as well as system integrators and installation providers
globally.
During the first six months of 2016 we have
initiated the integration of sales and marketing resources in eWON
with the existing organization of HMS for our brand names Anybus®,
IXXAT® and eWON®. On a long term perspective we also see good
opportunities to coordinate technology and development projects in
the acquired operations. This is expected to give a positive effect
on future generations of products provided by HMS.
Our focus is now on achieving the full effect of
the possibilities we see in the newly acquired operations as well
as the investments we have made during previous years.
Despite the increase in order intake we still see
some of the uncertainty in the market development we have
previously reported. We still see a good inflow of new design-wins
for our products which in the long term will strengthen HMS'
position on the market.
The German and Japanese markets continue to show a
good development. On the US market we still have a mixed picture
and a cautious market. But during the last quarter we have received
a couple of larger customer project which gives us good hopes for
the future.
An increase in amortization of intangible assets,
acquisition costs and investments in more resources mainly in the
area of sales and marketing has a negative impact on the first six
months result.
Our focus is to continue to drive growth within
our three product brands. We continue to balance our long term
growth strategy with a cautious approach to costs. In the long
term, we believe that the market for industrial communication and
remote monitoring will be an interesting growth area, and we
continue to focus on our motto "HMS - Connecting Devices".
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 19, 2016.
HMS Networks AB (publ) is the
leading independent supplier of products for industrial
communication and remote management. Reported sales reached SEK 701
m in 2015. Development and manufacturing take place at the
headquarter in Halmstad, Sweden, in Nivelles Belgium and in
Weingarten, Germany. Local sales and support are handled by branch
offices in China, Denmark, France, Belgium, Germany, Spain, India,
Italy, Japan, UK, and USA. HMS employs over 460 people and develops
and manufactures solutions for connecting automation devices and
systems to industrial networks under the Anybus® and IXXAT® brand
and products for remote management and control under the eWON® and
Netbiter® brands. HMS is listed on the NASDAQ OMX in Stockholm,
category Mid Cap, Information Technology.
Q2 Report 2016
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX 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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