DEVELOPMENT IN THE BUSINESS AREAS
AUTOMATION
Net sales in Automation increased by 13 percent to SEK 657 million (583) and EBITA increased by 38 percent to SEK 69 million (50).
Market
The Automation business area enjoyed very good demand in all segments of significance to the business area, such as the engineering industry, medical technology, the defence industry and in data and telecom. Sales increased sequentially over the quarter and growth was favourable even compared to last year which was only marginally impacted by the pandemic. The market situation was favourable in all geographies with the strongest recovery being seen in the units outside the Nordic region, which were also the units hit hardest by shutdowns last year.
COMPONENTS
Net sales in Components increased by 16 percent to SEK 574 million (496) and EBITA increased by 31 percent to SEK 66 million (50).
Market
The Components business area experienced a very strong start to the year, with comparisons of the totals being largely relevant as numerous positive effects of the pandemic affected the outcome in the preceding year. The market situation was highly favourable in Denmark, Finland and Sweden during the quarter, and it developed positively in Norway too. Demand was favourable in important customer segments, such as the engineering industry, special vehicles, medical technology, wind power and electronics.
ENERGY
Net sales in Energy increased by 2 percent to SEK 700 million (683) and EBITA increased by 11 percent to SEK 90 million (81).
Market
It was a good first quarter for the Energy business area. The market situation in infrastructure products for the rebuilding and expansion of national and regional grids was stable at a high level, although the delivery of new projects decreased from very high levels, as expected. In wind power, demand remained favourable and the market situation was beneficial for the units active in sales of niche products for power distribution, as well as in building and installation.
INDUSTRIAL PROCESS
Net sales in Industrial Process increased by 23 percent to SEK 823 million (669) and EBITA increased by 56 percent to SEK 114 million (73).
Market
The Industrial Process business area experienced a good start to the new financial year, even when taking into account that large parts of the operations were impacted severely negatively by the pandemic in the preceding financial year. The business situation was highly favourable in the engineering industry, special vehicles and the process industry as a whole. Demand for forest industry projects remained favourable while activity remained low for the companies exposed to the marine segment.
POWER SOLUTIONS
Net sales in Power Solutions increased by 39 percent to SEK 529 million (381) and EBITA increased by 50 percent to SEK 75 million (50).
Market
The business area Power Solutions as a whole had a very positive development in the first quarter, even when taking into account that large parts of the operations were impacted severely negatively by the pandemic in the preceding financial year. The business situation for products in special vehicles was highly favourable and demand continued to increase, while it remained stable in wind power. The market situation was favourable for the companies operating in power supply and in customised battery solutions.