Fagerhult is preparing for 2021
The Fagerhult Group is one of the leading European lighting companies with over 4,400 employees in 28 countries and sales of 6,816 million SEK (677 million EUR) in 2020, a decrease of 13.1% compared to the previous year. The net profit amounted to 572.4 million SEK (54.8 million EUR), an increase of 11.2% over the previous year. Fagerhult includes such well-known brands as iGuzzini, Whitecroft, Veko, to name just a few. There are a total of 13 brands in the four business areas.
In 2020, the loss-making company in South Africa was sold because the market there had not developed as expected. Additionally, traditional retailing has been found negatively affected whereas e-commerce, horticulture, and healthcare showed growth.