Development in the business areas
Addtech Components markets and sells components and subsystems in mechanics, electromechanics, hydraulics and electronics as well as automation solutions to customers in manufacturing.
Addtech Components' net sales decreased 1 percent to SEK 756 million (764). Operating profit amounted to SEK 52 million (56).
After a relatively stable start to the financial year, demand from Nordic manufacturing companies was slightly lower from an overall perspective during the second quarter. The differences between the various markets and customer segments prevail. In the second quarter our Finnish operations experienced a weaker business climate, whereas our Swedish operations all in all had somewhat more stable demand than before. The business climate in Denmark remained relatively low, while our Norwegian operations continued to develop well.
Addtech Energy markets and sells battery solutions, electric power distribution products and products for electrical safety, electrical installations and connection technology. Its customers are in the energy and telecom sectors and the commercial vehicle industry.
Addtech Energy's net sales amounted to SEK 952 million (695), which is a 37 percent increase. Operating profit amounted to SEK 98 million (74).
The good demand seen in the first quarter continued in the second quarter, and companies acquired earlier contributed to sales and profit in accordance with expectations. Overall, the business situation for battery solutions was stable in the Nordic markets. Demand for products for electric power distribution and transmission was sound throughout the interim period. The market for products in electrical installation and electrical safety was good in Norway, but it was weaker in Sweden during the second quarter.
Addtech Industrial Solutions
Addtech Industrial Solutions markets and sells machinery components, polymer products, electric motors and transmissions, customised products in electromechanics and equipment and consumables for customers in manufacturing. Products under own brands are marketed and sold to industrial customers locally and globally.
Addtech Industrial Solutions' net sales decreased 1 percent to SEK 563 million (571). Operating profit amounted to SEK 47 million (47).
The business situation for the business area has remained relatively unchanged since the first quarter. Demand from Nordic customers was relatively weaker, but operations outside the Nordics generally experienced more positive development. The business climate for products to the special vehicles industry remained subdued, as did sales of products in polymer materials in the Danish market. In the second quarter demand from industrial aftermarket customers stabilised slightly, and the market for electric motor solutions continued to develop well.
Addtech Life Science
Addtech Life Science markets and sells instruments, consumable supplies and services to laboratories in healthcare and research, diagnostic equipment for the healthcare sector and process and analysis equipment for industry.
Net sales for Addtech Life Science amounted to SEK 640 million (497), which is a 29 percent increase. Operating profit reached SEK 62 million (47).
The business climate further improved in the second quarter, and all in all for the period demand in the business area was sound. The good market conditions for diagnostic equipment and reagents from the Nordic healthcare sector continued throughout the period. Organic growth was good, and the business also gained certain positive effects of deliveries brought forward in second quarter. Demand for equipment to research and healthcare laboratories was good in the Danish market, while other markets were more stable. Sales of measuring and analysis instruments to the Nordic process industry developed well, particularly in the marine segment.