AUTOMATION
Net sales in Automation in the fourth quarter amounted to SEK 930 million (957) and EBITA amounted to SEK 106 million (132). Net sales during the financial year increased marginally and amounted to SEK 3,597 million (3,584) and EBITA amounted to SEK 428 million (459). 

Market
The Automation business area experienced a weak end to the year, with a decline in sales mainly in companies with large-scale project-based operations and in companies with pure trading business in the DACH and Benelux countries. The decline in sales, combined with some non-recurring expenses, had a negative impact on the quarter’s earnings and operating margin. On the whole, market conditions were weak in the medical technology and process industries, while they were stable against tough comparisons in the mechanical industry segment. Companies exposed to the defence industry continued to experience the strongest demand. The revaluation of contingent purchase considerations affected profit for the quarter positively by about SEK 5 million.

ELECTRIFICATION
Net sales in Electrification increased in the fourth quarter by 12 percent to SEK 1,159 million (1,040) and EBITA increased by 16 percent to SEK 157 million (135). Net sales during the financial year increased by 8 percent to SEK 4,419 million (4,100) and EBITA increased by 12 percent to SEK 577 million (514). 

Market
The Electrification business area had a good fourth quarter with favourable demand and sales for the business area as a whole and an improved business situation compared with the final quarter last year. Demand was very strong in the medical technology, defence, special vehicles and mechanical industry segments, while it was stable for companies operating in electronics and energy. The revaluation of contingent purchase considerations affected profit for the quarter negatively by about SEK 1 million.

ENERGY
Net sales in Energy increased in the fourth quarter by 28 percent to SEK 1,637 million (1,276) and EBITA increased by 86 percent to SEK 264 million (142). Net sales during the financial year increased by 16 percent to SEK 6,147 million (5,307) and EBITA increased by 37 percent to SEK 935 million (683). 

Market
The Energy business area enjoyed favourable market conditions and very good sales in the fourth quarter. The business situation was highly favourable for infrastructure products for the conversion and extension of national and regional grids, as well as for niche products for electrical transmission. Sales were varied in data and telecommunications, with the build-out of fiber-optic networks being weak, while sales to data halls remained strong. The market situation was weak in building and installation, stable for companies operating in the mechanical industry and favourable in wind power and traffic safety. The revaluation of contingent purchase considerations affected profit for the quarter negatively by about SEK 1 million.

INDUSTRIAL SOLUTIONS
Net sales in Industrial Solutions increased in the fourth quarter by 12 percent to SEK 1,042 million (930) and EBITA amounted to SEK 208 million (215). Net sales during the financial year increased by 6 percent to SEK 3,825 million (3,594) and EBITA increased by 6 percent to SEK 798 million (754). 

Market
Over the quarter, the overall business situation was favourable for the Industrial Solutions business area. Sales were favourable, with acquisitions contributing to the positive trend. Although the overall market situation in the forestry and sawmill industries, as well as in special vehicles, primarily for construction machinery, remained weak, for our companies exposed to these segments, demand rose over the quarter compared with last year. Demand was weak in waste and recycling, while the market situation was stable for companies active in the mechanical industry segment and favourable in subsea. 

PROCESS TECHNOLOGY
Net sales in Process Technology increased in the fourth quarter by 10 percent to SEK 991 million (899) and EBITA increased by 9 percent to SEK 155 million (143). Net sales during the financial year increased by 11 percent to SEK 3,837 million (3,464) and EBITA increased by 12 percent to SEK 555 million (498). 

Market
For the Process Technology business area as a whole, the market situation was favourable in the fourth quarter, with good demand and sales. Demand was good in the marine and energy segments, as well as in medical technology the process industries, where our companies operating in water treatment and the chemicals industry in particular continued to perform well. The market situation was stable in special vehicles, while it was weak in the forest and mechanical industry segments. The revaluation of contingent purchase considerations affected profit for the quarter positively by about SEK 16 million.