HMS Networks: Interim report 2016, January - March
26 Abril 2016 - 12:50AM
Last twelve months
-
Net sales for the last twelve months amounted to
SEK 732 m (620) corresponding to a 13 % increase in local
currencies. The revaluation of the Swedish currency had a positive
impact of SEK 35 m on net sales
-
Operating profit for the last twelve months was
SEK 90 m (108) corresponding to a 12 % (17) operating margin
-
Order intake for the twelve-month period was SEK
706 m (637)
-
Cash flow from operating activities for the
twelve-month period amounted to SEK 87 m (92)
-
Profit after tax for the last twelve months
amounted to SEK 51 m (71) and earnings per share was SEK 4.46
(6.26)
First quarter
-
Net sales for the first quarter increased by 18
% to SEK 201 m (170)
-
Operating profit was SEK 20 m (32) corresponding
to a 10 % (19) operating margin
-
Order intake for the first quarter was SEK 199 m
(174)
-
eWON SA, acquired during the first quarter,
affected sales and the result during two months
-
Costs related to the acquisition had a SEK 3 m
negative impact on the operating profit during the first
quarter
Comment from the
CEO
During the first quarter 2016 we reached a new sales record of SEK
201 m and a growth of 18%. Behind these figures we have a
substantial positive impact from the acquired Belgium company eWON
SA but also a weaker than expected development from HMS traditional
operations. eWON develops and sells products for remote access and
remote monitoring of industrial control systems to, for example
machine manufacturers. The acquisition is an excellent complement
to the HMS technology platforms for Remote Management as well as it
contributes with a well established network of sales channels in
Europe and USA.
For the traditional operations of
HMS we saw a continuing cautious development of the market with a
weak growth. In the quarter we can also report an unfavourable
product mix to a few large customers resulting in a lower gross
margin. This in combination with investments in new resources and
the Industrial Internet of Things initiated during the previous
year resulted in a weak start of 2016.
During the first quarter, we have
started to coordinate the eWON sales and marketing resources with
HMS existing organization for our three brands Anybus®, IXXAT® and
eWON®. In the longer term there are also good opportunities to
coordinate technology and development of the acquired business,
which is expected to have a positive impact on future generations
of products from HMS.
Our aim now is to achieve the full
effect of the opportunities we see in the newly acquired operations
and the recent investments in new resources.
Order intake also including eWON
improved during the period compared to Q4 2015, but we did not
quite reach the level reported for the same quarter in 2015.
Including eWON, we can see an increasing order intake in the first
quarter of 2016. However, the uncertainty we previously expressed,
remains in our markets. We continue to see new design wins which
strengthens our strong position in the market.
An increased strain from the
amortization of intangible assets, costs related to the acquisition
and investments in additional resources, primarily in sales and
marketing, are affecting the profit for the first quarter.
The German and Japanese markets
continue to develop strongly. For the US, we continue to see a
mixed picture with a weak market and some delays in placing orders
from some customers.
The product line Netbiter, which
in the future will be a part of the eWON brand, is showing a sales
increase of 40% in the first quarter, although from small volumes.
With the strong products from eWON, we believe that this area of
the HMS product offering will be able to develop even better in the
future.
During the first quarter, we
launched two interesting products within the Industrial Internet of
Things (IIoT). Firstly, the Anybus .NET gateway which is an easy
way to connect industrial control systems (OT) to IT systems via
.NET. We also launched the Anybus SG-gateway for Smart Grid
applications, which enables communication between machines with
high power consumption and systems for Smart Grid energy
distribution.
Our focus is 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 April 26, 2016.
HMS Industrial Networks 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 headquarters 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, India, Italy, Japan, UK, and USA. HMS
employs over 430 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.
Q1 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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