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Investing.com -- Indutrade (ST:INDT) on Friday reported modest gains in the first quarter, but flat organic sales and margin pressure in key areas sent the stock down more than 5% Friday.
Order intake rose 5% to 8.46 billion kronor, while net sales increased 4% to 8.04 billion. Organic sales were unchanged. EBITA grew 6% to 1.09 billion kronor, with the margin up to 13.6% from 13.3%.
Net profit rose 6% to 623 million kronor. Cash flow from operating activities increased to 644 million from 487 million. The net debt-to-equity ratio dropped to 47% from 55%.
Order intake was strongest in medical technology, pharmaceuticals and energy. Demand was steady in infrastructure and construction but softer in engineering.
Life Science had the highest organic sales growth, while Technology & Systems Solutions was the weakest.
Margins improved in Life Science and Infrastructure & Construction but declined in the other three business areas due to lower sales and higher costs.
Return on capital employed fell to 19% from 20%, and return on equity slipped to 18% from 19%.
Three acquisitions were completed or announced during the quarter, with combined annual sales of 390 million kronor.