Continued positive trend Net revenues amounted to MSEK

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News Desk 2018

Aug 14, 2014 at 5:45 AM

Continued positive trend

· Net revenues amounted to MSEK 876 (837) for the quarter and MSEK 1,731 (1,541) for the first six months of the year. · Profit after net financial items totaled MSEK 116 (114) for the quarter and MSEK 230 (195) for the first half of the year. · Earnings per share amounted to SEK 2.94 (2.90) for the quarter and SEK 5.68 (4.78) for the first six months of the year. · Cash flow after capital expenditures, excluding corporate acquisitions, totaled MSEK 78 (116) for the quarter and MSEK 87 (130) for the first half of the year. · The balance sheet remained strong and the net debt/equity ratio was 16 percent (17). CEO’s comments The trend for the Beijer Alma Group remained positive during the second quarter of the year. Invoicing rose 5 percent to MSEK 876. This growth was attributable to Habia and Beijer Tech, while Lesjöfors experienced a year-on-year decline in sales due to a weak trend in the chassis springs operations compared with the extremely strong result posted in 2013. Profit after net financial items totaled MSEK 116, compared with MSEK 114 in the year-earlier period. The operating margin was 13.4 percent (14.0). The structure of the Group’s invoicing – whereby lower invoicing in Lesjöfors was partly offset by higher invoicing in Beijer Tech – resulted in a slightly lower operating margin. Overall, demand in the areas of the Group that are dependent on the industrial economy remained stable. The exception was Beijer Tech, which reported increased sales to the industrial sector compared with the year-earlier period. Cash flow amounted to MSEK 78 and was adversely impacted by an accumulation of inventories in Lesjöfors and higher accounts receivable in Habia. Capital expenditures also exceeded depreciation and amortization during the quarter. The balance sheet remained strong and net debt for the Group amounted to MSEK 255 (252) at the end of the period. Lesjöfors’s invoicing amounted to MSEK 456, down 4 percent year-on-year in comparable units. This decline was fully attributable to Chassis Springs, which reported a 13-percent decrease in sales. The fall in invoicing was a result of the mild winter weather and sales are expected to remain negatively impacted during the coming months. Sales of industrial springs increased 1 percent. Germany and the UK reported higher invoicing, while the Nordic markets declined slightly. Sales in China decreased significantly year-on-year due to the conclusion of project transactions in the telecom sector. Operating profit totaled MSEK 88, down MSEK 10 compared with the second quarter of 2013. The operating margin declined slightly compared with the year-earlier period. The decline in earnings and lower operating margin were fully attributable to Chassis Springs, while the Industry business area reported improved earnings and a higher margin during the quarter. Habia reported favorable order bookings and sales for the second quarter and invoicing increased 25 percent to MSEK 201. Telecom customers continued to account for the largest increase in demand. Sales of cables for base-station antennas rose 66 percent, while other customer segments increased 2 percent. Operating profit for the second quarter amounted to MSEK 22, compared with MSEK 13 in the year-earlier period, and the operating margin increased sharply. The telecom plants continue to work at an extremely high rate and demand currently exceeds the company’s manufacturing capacity. Customers have also indicated that the level of demand can be expected to remain high during the coming months. The capacity expansion at the Chinese plant is has now been completed and the facility became fully operational around mid-year. This expansion in capacity will result in a gradual increase in production volumes during the third quarter. Beijer Tech also noted improved demand during the second quarter. Invoicing rose 8 percent to MSEK 219 and operating profit remained unchanged compared with the year-earlier period at MSEK 14. This growth was fully attributable to Industrial Products, while Fluid Technology reported largely unchanged invoicing. The operating margin fell slightly due to a higher proportion of sales of plant and machinery with low profitability. In conclusion, with the exception of the operations impacted by seasonal effects, the demand situation for the autumn appears to be relatively stable compared with the first half of the year. Bertil Persson President and CEO If you have any questions, please contact: Bertil Persson, President and CEO, Telephone 46 8 506 427 50, bertil.persson@beijeralma.se Jan Blomén, Chief Financial Officer, Telephone 46 18 15 71 60, jan.blomen@beijeralma.se Beijer Alma AB (publ) is an international industrial Group specializing in component manufacturing and industrial trading. The Group comprises Lesjöfors, one of Europe’s largest spring manufacturers, Habia Cable, one of Europe’s largest manufacturers of custom-designed cables, and Beijer Tech, which holds a strong position in industrial trading in the Nordic region. Beijer Alma is listed on the NASDAQ OMX Stockholm Mid Cap list.

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