Good growth and improvement in profit margin. Significant business secured for the Bulten division THIRD QUARTER · Net sales reached SEK 714 million (649), up 10.0% on the same period last year. · Earnings (EBIT) adjusted for non-recurring items were SEK 29 million (11), which corresponds to an adjusted operating margin of 4.0% (1.8). · Earnings (EBIT) reached SEK 24 million (11), which corresponds to an operating margin of 3.4% (1.8). · Profit after tax was SEK 14 million (3) and SEK 18 million (3) when adjusted for non-recurring items for restructuring measures. · Order bookings amounted to SEK 698 million (610), up 14.5% on the same period last year. · Cash flow from current activities was SEK 19 million (-84). · Earnings per share were SEK 0.68 (0.15). Adjusted for non-recurring items, earnings per share were SEK 0.83 (0.15). · A significant new full-service contract worth approximately EUR 35 million annually was signed by Bulten division, with start planned for early 2014. · Restructuring of the foundry business within Finnveden Metal Structures division continues and has highest priority. JANUARY - SEPTEMBER · Net sales reached SEK 2,238 million (2,287) down 2.1% on the same period last year. · Earnings adjusted for non-recurring items were SEK 99 million (92), which corresponds to an operating margin of 4.4% (4.0). · Earnings (EBIT) reached SEK 65 million (92), which corresponds to an operating margin of 2.9% (4.0). · The profit after tax was SEK 59 million (58) and SEK 60 million (58) when adjusted for non-recurring items of SEK 0,1 million net comprising a tax receivable from an approved interest deduction resulting from the verdict of the Swedish Administrative Court of Appeal of SEK 27.1 million and restructuring costs of SEK –27.2 million. · Order bookings amounted to SEK 2,340 million (2,255), up 3.8% on the same period last year. · Cash flow from current activities was SEK 133 million (29). · Earnings per share were SEK 2.83 (2.77). Adjusted for non-recurring items, earnings per share were SEK 2.83 (2.77). “The Group’s earnings rose compared with the same period last year due to higher and more consistent delivery volumes and both ongoing and completed rationalisation measures. The strong demand noted in Q2 continued during the seasonally weaker Q3, which resulted in good order bookings and stable loading at our production units. The Bulten division’s successful FSP concept (Full Service Provider) continues to generate good growth. During the quarter the division won a significant new order from a major vehicle manufacturer corresponding to an annual sales value of approximately EUR 35 million. Opportunities for new business and higher market shares going forward are expected to remain good. The profitability of the Finnveden Metal Structures division has also improved compared with the corresponding quarter last year, mainly due to increased volumes and ongoing rationalisation measures, where streamlining of the foundry business has highest priority.” Johan Westman, President and CEO Investors, analysts and media are invited to participate in the teleconference on Thursday, October 24 at 15:30 CET when the report will be presented by FinnvedenBulten’s President and CEO Johan Westman. Additional participants from the company are Executive Vice President Tommy Andersson and CFO Helena Wennerström. Copies of the presentation will be available on www.finnvedenbulten.com approximately 30 minutes before the conference starts. The full report is attached to this press release. To participate, please call 5 minutes before the opening of the conference call to Sweden +46 8 506 443 86, UK +44 207 153 9154, US +1 877 423 0830. Code: 936391#. A replay of the telephone conference is available until November 7, 2013 on the phone numbers Sweden +46 8-505 564 73, UK +44 203 364 5200, USA +1 877 679 2989. Code: 348828#. For further information, please contact: Johan Westman, President and CEO Tel: + 46 31-734 59 00 Kamilla Oresvärd, Vice President Corporate Communications Tel: +46 70-520 59 17, e-mail: kamilla.oresvard@finnvedenbulten.com NB: The information in this announcement is required to be disclosed by FinnvedenBulten AB (publ) under the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 13:30 CET on October 24, 2013. FinnvedenBulten develops and manages industrial businesses, offering products, technical solutions and systems in metallic materials. The Group operates as a business partner to international customers in the engineering industry, primarily the automotive industry. FinnvedenBulten is structured into two divisions – Bulten and Finnveden Metal Structures – both with strong positions in their respective customer segments. FinnvedenBulten is listed on NASDAQ OMX Stockholm. Further information at www.finnvedenbulten.com.
FinnvedenBulten’s Q3 Report 2013 Good growth and
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