Munters: strong net sales growth and profitability improvement

As a summary of our achievements in the third quarter I would firstly like to highlight the strong net sales growth, driven by very good execution on large orders in Data Center Technologies as well as a good development in the battery sub-segment in AirTech. FoodTech had a very strong net sales development in the US driven both by Climate and Digital solutions, whereas APAC and EMEA continued to be weak. Secondly, I am happy to see that through good contributions from all business areas we reached our financial target for adjusted EBITA-margin of 14% in the quarter. Thirdly, through great efforts throughout the organization we generated strong operating cash flow reducing net debt to adjusted EBITDA to 2.2x.