DEVELOPMENT IN THE BUSINESS AREAS
Net sales in Automation increased in the second quarter by 2 percent to SEK 562 million (552) and EBITA increased by 7 percent to SEK 60 million (57). Net sales during the period increased marginally to SEK 1,145 million (1,143) and EBITA decreased by 6 percent to SEK 110 million (117).
Overall, the Automation business area was affected marginally negatively by COVID-19. The business situation was favourable in medical technology, the defence industry, as well as in data and telecom. The level of activity remained low among the companies exposed to the Nordic engineering industry, particularly larger OEM customers that have put new investments on hold, although some recovery was noted in September. The business situation among the companies operating in the markets outside the Nordic region remained affected by shutdowns and restrictions.
Net sales in Components decreased in the second quarter by 5 percent to SEK 487 million (511) and EBITA decreased by 15 percent to SEK 50 million (58). Net sales during the period decreased by 3 percent to SEK 983 million (1,015) and EBITA decreased by 11 percent to SEK 100 million (112).
On the whole, the Components business area was affected moderately negatively by COVID-19. The business situation in Denmark was stable, while operations in Norway were negatively affected by both currency effects and low oil prices, with a resulting low rate of investment in the oil and gas market segment. The market situation in Finland and Sweden was negative, impacted primarily by the automotive and engineering industries, although there was some recovery late in the quarter.
Net sales in Energy increased in the second quarter by 7 percent to SEK 633 million (593) and EBITA increased by 5 percent to SEK 79 million (75). Net sales during the period increased by 9 percent to SEK 1,316 million (1,212) and EBITA increased by 12 percent to SEK 160 million (142).
The business situation in the Energy business area remained highly favourable in the second quarter, affected only marginally negatively by COVID-19. Sales of infrastructure products for upgrading and building out national and regional grids and for wind power, maintained at high levels and the market situation remained stable throughout the quarter. The units that are active in sales of niche products for electrical power distribution and for building and installation continued to experience declining demand due to the pandemic.
Net sales in Industrial Process decreased in the second quarter by 21 percent to SEK 680 million (865) and EBITA decreased by 42 percent to SEK 77 million (134). Net sales during the period decreased by 19 percent to SEK 1,349 million (1,672) and EBITA decreased by 37 percent to SEK 150 million (237).
The Industrial Process business area was affected very negatively by the effects of COVID-19. The demand for solutions for scrubber installations remained low due to low oil prices and the prevailing pandemic, and this sales decreased by approximately 75 percent compared with the corresponding period last year. The market situation for the companies in special vehicles and the engineering industry continued to be perceived as weak in the second quarter, although there was some recovery late in the quarter. Demand was high for projects in the forest industry.
Net sales in Power Solutions decreased in the second quarter by 9 percent to SEK 365 million (402) and EBITA decreased by 25 percent to SEK 46 million (62). Net sales during the period decreased by 9 percent to SEK 746 million (819) and EBITA decreased by 24 percent to SEK 96 million (127).
The Power Solutions business area was affected very negatively by the effects of COVID-19. The declining market for special vehicles continued to be what affected the business area the most as a whole, with sales decreasing by approximately 30 percent due to the prevailing situation although a clear recovery was noted in September. The market situation was stable for customized battery solutions and for the companies operating in power supply. The business situation in wind power and in data and telecom remained favourable over the quarter.