In the first quarter of 2014, the orders, the order book, the revenue and the results increased compared to the same period last year. Further organic growth was achieved in both Industrial Services and the various Flow Control activities. The focus remains on strengthening the marketing and sales approach and the realisation of the many efficiency projects and thereby further improving the market position and the results.
In general, the activities in the business segment Building Installations Europe remained challenging, comparable to the same period last year. Further progress has been made with the many ongoing improvement plans. Building Installations North America made a good start in the residential and retail markets, mainly as a result of the previously introduced plastic and metal connection systems and associated control valves. The market for commercial buildings has shown no signs of improvement so far. The activities in the business segment Climate Control have been developed further and have shown a good start compared to the same period last year. Through the recent acquisition of Nexus Valve, a position was acquired in the North American market. At Flow Control Industrial, a good order book was built in the automotive, district energy and oil & gas markets in the first months of the year. A good revenue result was achieved in North America. Industrial Services realised a good first quarter in orders, revenue and results. The semiconductor and German automotive industry, the machine build and turbine & aerospace industry remained at a good stable level.
The focus remains on continuous strengthening of the market positions and achieving sustainable profitable growth. As a result of this focus, the increased order position, and the strong motivation to bring the many improvement plans to successful results, it is expected that further progress will be made in 2014 and subsequent years.