Components

Components' net sales rose by 21 percent to SEK 1,882 million (1,554) and operating profit rose by 35 percent to SEK 130 million (96).

From an overall perspective, demand from the majority of customer segments and geographic areas was good within the business area during the year. Business gradually improved for our Danish operations which, like our operations in Sweden, ended the year strongly.

This was achieved despite the fact that growth in these markets is perceived to be very limited. The Finnish business climate remained challenging during the final quarter, but in spite of this there was sound demand for our operations. Reduced investments in oil and gas in Norway indicate lower demand for coming years, but this has not yet been reflected in our Norwegian operations.

During the year this business area acquired GigaCom AB and Amestec Oy. Components has also acquired Hans Følsgaard A/S along with the business area Energy.

Energy

Energy's net sales totalled SEK 2,121 million (1,975), an increase of 7 percent and operating profit rose by 1 percent to SEK 203 million (200).

In total, demand for the business area was stable during the year, but the business climate in Q4 was somewhat better than in previous quarters of the financial year. Demand for major projects regarding products for electricity distribution and transmission in the Swedish market remains weak. It is not certain when the recovery will occur in this market segment, but the investment plans communicated by customers remain in place. The market for products in battery and power supply solutions in the Nordic markets improved steadily throughout the entire financial year with strong demand for solutions incorporating new battery technology. Demand for products in electrical installation and electrical safety was good in Sweden, but slightly weaker in the other Nordic markets.

This business area made three acquisitions during the year, Solar Supply Sweden AB, Tampereen Sähköpalvelu Oy and Celltech China Ltd. Energy has also acquired Hans Følsgaard A/S along with the business area Components.

Industrial Solutions

Industrial Solutions' net sales rose by 6 percent to SEK 1,254 million (1,173) and operating profit  rose by 8 percent to SEK 100 million (93).

Demand improved on the whole during the year. Q2 was somewhat weaker than other quarters, and the business area ended the year well in Q4. Business continues to vary between different customer segments and geographic areas. The business climate for products for the special vehicles industry was further strengthened, apart from ongoing weak demand in the mining segment.  

This business area made two acquisitions during the year, Frameco AB and Scandinavian Friction AB.

Life Science

Life Science's net sales were SEK 1,535 million (1,393), a 10 percent increase. Operating profit amounted to SEK 115 million (125).

Business developed well for the business area as a whole throughout the year. A low level of profitability in certain projects in the Process Technology business unit adversely affected the business area’s profit trend and operating margin. Sales of measuring and analysis instruments to the Nordic process industry stabilised during Q4, but projects won previously in this area were challenging for some of our operations throughout the year. As of 1 April 2015 these operations belong to a different business area. Other operations in the business area, such as sales of diagnostic equipment and reagents to the Nordic healthcare sector, continued to develop well, and the will to invest in order to improve healthcare efficiency in several of the Nordic countries is positive. Growth mainly stems from the investments made in new diagnostic technologies in recent years. The market for sales of equipment to healthcare and research laboratories improved, and the research climate is favourable, particularly in Denmark and Sweden.

During the year this business area made one acquisition, Flow-Teknikk AS.