Axis AB: Year-end report 2016
The fourth quarter
- Net sales increased by 17 percent during the fourth quarter to SEK 2,059 M (1,758). Net sales increased by 11 percent in local currencies.
- Operating profit increased to SEK 253 M (231), which corresponds to an operating margin of 12.3 percent (13.1).
- Profit after tax amounted to SEK 169 M (176).
- Earnings per share amounted to SEK 2.43 (2.54).
- The board proposes that no dividend should be declared for the 2016 fiscal year (SEK 0.64).
January - December
- Net sales increased by 11 percent during the period to SEK 7,386 M (6,635). Net sales increased by 10 percent in local currencies.
- Operating profit increased to SEK 885 M (881), which corresponds to an operating margin of 12.0 percent (13.3).
- Profit after tax amounted to SEK 639 M (652).
- Earnings per share amounted to SEK 9.20 (9.39).
Continued growth during 2016 resulted in record sales for the fourth quarter and for the full-year. For the first time, we generated sales of more than SEK 2 billion in a quarter, while full-year sales were well over SEK 7 billion. The weak Swedish krona had a significant positive effect on our growth during the fourth quarter. The full-year effect was not as significant.
Our investments in development of new products and solutions made a strong contribution to growth. In 2016, we were able to release a number of such innovations, for example, network speakers and camera models featuring laser focus technology. During the fourth quarter, we also unveiled updates to two of our most important network camera series AXIS Q35 and AXIS P32. Another important factor was the three acquisitions carried out during 2016. We can now see that they are making an increasing contribution to the company’s development and to our market offering.
Axis’ growth is being noted not least in terms of the number of employees. Acquisitions and new recruitments meant that the number of employees during the year increased by more than 20 percent and now exceeds 2,600 people. Continued market growth and a strong foundation will enable us to continue to drive developments as we enter 2017. We will continue investing in innovation and employees, in boosting our market presence and in improving the efficiency of our expanding organization.
Ray Mauritsson, President
The report can be found here.