In 2018, net sales amounted to €2.99 billion, showing an increase of 1.2% from the €2.96 billion in January-December 2017 period. At constant currency rates, growth was 5.1% driven by significantly higher selling prices. Lower delivery volumes in all business areas and an adverse currency effect had a negative impact on net sales.
“We made good progress towards our strategic targets in 2018,” says Hans Sohlström, president and CEO. “The acquisitions of Expera and Caieiras were important milestones in the strategic transformation towards global leadership in our selected product categories and we are very pleased with the acquisitions. Critical size in the value chain enables operations on a global scale and a readiness to better meet our customer needs. The acquisition of Expera tripled our net sales in the U.S. and provided a platform for growth, while Caieiras significantly strengthened our South American operations.”