HABO, Sweden, March 13, 2020 /PRNewswire/ -- AB Fagerhult
(publ.), ("Fagerhult") have updates regarding several activities in
the first quarter.
Firstly, regarding the Covid-19 virus, Fagerhult has taken a
significant amount of actions. Fagerhult's focus is to protect
employees, continue deliver to our customers, and take social/civic
responsibility. Fagerhult encourage all employees to avoid close
contact with `social distancing' and split-shift working
implemented in operations and offices and travel is cancelled. Up
to today, Fagerhult see no significant effect as a result and we
continue to monitor the situation in all of our markets and follow
decisions and recommendations from local authorities and national
governments.
The underlying business activity is so far not affected by
Covid-19 and the organic order intake is positive compared to last
year for the first ten week period of the year. This is across many
markets and companies. However, so far deliveries are slightly
lower than last year and two events affect our earnings in the
period.
Due to Covid-19, Messe Frankfurt has decided to postpone the
Light & Building exhibition, originally scheduled to take place
this week, now rescheduled for the autumn. The rescheduled timing
does not suit Fagerhult and our participation is cancelled for this
year. This results in a one-off additional cost of approximately 20
MSEK in the first quarter.
As previously communicated, there has been challenges regarding
implementation of a new ERP-system at our recently acquired
iGuzzini business in Italy. The
challenges have been dealt with and closed out, and this is
regarded as an isolated and now corrected event. The situation did,
to some extent, affect our earnings in the period.
This information is inside information that AB Fagerhult (publ.)
is obliged to make public pursuant to the EU Market Abuse
Regulation.
The information was submitted for publication, through the
agency of the contact persons set out below, at 14:30 CET on March 13,
2020.
Habo March 13, 2020
CONTACT:
Disclosures may be submitted by
Bodil Sonesson CEO, mobile: +46-72223-7602
e-mail: bodil.sonesson@fagerhult.se
Michael Wood CFO, mobile: +46-73-087-46-47 e-mail:
michael.wood@fagerhult.se
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SOURCE Fagerhult