Fagerhult sales rise, profits slip in inflationary Q2. Meanwhile, here comes the new IoT boss
Aug 25, 2022
A lag in price hikes dampened Fagerhult profits in the second quarter, but sales rose even as an already difficult supply chain environment worsened, CEO Bodil Sonesson said. She also revealed that the company has now hired the person who will take on the new role of IoT strategy.
Enthusiasts also note that lighting outfitted with sensors and communication chips can gather and analyze data, offering myriad operational insights to businesses.
Fagerhult is holding a Capital Markets Day on Wednesday a week from today, when it is likely to say more about the new CTO.
In this week’s second-quarter results, the company also revealed management difficulties at one of its four business divisions. In a more positive vein, it disclosed several new innovative luminaires designed with a sustainability ethos. LEDs Magazine will report on these developments separately.
