Interim report 1 January – 30 June 2016

12 July 2016 14:00

 

PDF-icon_small.png  Full report

 

THE INTERIM PERIOD
Continuing operations

»    Net revenue totalled SEK 557 million (529)
»    Profit before tax amounted to SEK 58 million (48)
»    Profit after tax amounted to SEK 45 million (37)
»    Earnings per share were SEK 6.55 (5.35)
Group total
»    Net revenue totalled SEK 557 million (529)
»    Profit before tax amounted to SEK 58 million (60)
»    Profit after tax amounted to SEK 45 million (37)
»    Earnings per share were SEK 6.55 (7.20)

THE SECOND QUARTER
Continuing operations

»    Net revenue totalled SEK 295 million (284)
»    Profit before tax amounted to SEK 36 million (26)
»    Profit after tax amounted to SEK 28 million (20)
»    Earnings per share were SEK 4.00 (2.85)
Group total
»    Net revenue totalled SEK 295 million (284)
»    Profit before tax amounted to SEK 36 million (38)
»    Profit after tax amounted to SEK 28 million (32)
»    Earnings per share were SEK 4.00 (4.70)

 

CEO’s comments on the Group’s development during the period
With normal seasonal variation, the second quarter is the Group’s strongest, and the profit level over the past quarter was also one of our best to date. In relation to the comparison period, sales increased by 4 per cent and operating profit rose from SEK 29 million to SEK 36 million. In a comparison of the six month period, the growth in revenue amounted to just over 5 per cent and the improvement in operating profit to almost 20 per cent. The upturns in both volume and profit were attributable to all business units.
     On the whole, the operations within Industrial Solutions enjoyed another period of growth and improved profitability compared to the previous year. The order situation remained generally stable and, after a weak first quarter, the operation in China experienced a more favourable business climate. Few project-related operations aimed at the packaging industry were completed during the period, although the market situation remained good. The scope of the assignments in the field of contract manufacture in relation to large customers was still relatively low.  
     The Precision Technology business unit reported good sales growth and a continued positive profitability trend. No major changes were noted within the business unit’s market segments, and demand remained at a stable, healthy level. Implemented capacity improvements have resulted in increased competitiveness and, combined with active marketing work, the companies have reached new product niches and achieved greater geographic spread.
     After the relatively weak start to the year, the Rotational Moulding business unit surpassed the previous year’s second quarter by a clear margin. A large proportion of manufacture relates to seasonal products that normally entail strong results during the spring. The volume increase compared to the previous year is primarily related to proprietary products, where the companies are constantly implementing upgrades and working to develop new solutions. During the period, the unit has increased its sales in some regions that are experiencing an otherwise tough market climate, such as Finland.
     There are no clear signs of altered market conditions as a result of new external factors, and the order situation remains on a par with last year. The Group is focusing on continued profitable growth within all units, including by retaining high levels of activity within both marketing and product development. The opportunities for conducting complementary acquisitions are also continually being evaluated.

 

 CONTACT:  
Lennart Persson, CEO
+46 36 31 22 33
lennart.persson[at]xano.se