During the third quarter of 2013, the orders, the order book, revenue and results rose compared to the same period last year. Organic growth was realised in both Industrial Services and the various Flow Control activities. Focus has continued to be placed on strengthening the organisation, marketing and sales approach, realisation of the many efficiency projects to improve the market position, the operational margin and the results.
For Building Installations Europe, the markets remained challenging and comparable with the first six months. Further progress has been made with the many ongoing initiatives. Increasing recovery was visible in the residential housing and retail markets for Building Installations North America. There was also evidence of a further growth of the plastic and metal connection systems introduced last year, partly because of the joint market approach. The Climate Control sales activities have been further combined and coordinated to arrive at one system approach for the end user. The many new products/system initiatives have been further implemented and good progress has been made. Flow Control Industrial | Oil & Gas showed a varied picture. The district energy, beer and soft drinks industry and industrial activities in North America performed well in the third quarter. The gas projects in Russia continued to show a delay in the order flow. Industrial Services realised a good third quarter in orders, sales and results. The German automotive industry, the machine build and turbine & aerospace industries remained at a good stable level, while the semiconductor industry further improved. There was a gradual improvement of the activities for the French key accounts in the automotive and the metal & electronics markets.
Revenue and operating profit (EBITA) will increase and earnings per share for the whole of 2013 will stay in line with 2012 – barring unforeseen circumstances. Capital expenditure will reach the same high level as last year.