Interim report 1 January – 30 September 2016

3 November 2016 13:00

 

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THE INTERIM PERIOD
Continuing operations

»    Net revenue totalled SEK 783 million (785)
»    Profit before tax amounted to SEK 79 million (70)
»    Profit after tax amounted to SEK 61 million (54)
»    Earnings per share were SEK 8.85 (7.85)
Group total
»    Net revenue totalled SEK 783 million (785)
»    Profit before tax amounted to SEK 79 million (82)
»    Profit after tax amounted to SEK 61 million (66)
»    Earnings per share were SEK 8.85 (9.70)

THE THIRD QUARTER
Continuing operations

»    Net revenue totalled SEK 226 million (256)
»    Profit before tax amounted to SEK 21 million (22)
»    Profit after tax amounted to SEK 16 million (17)
»    Earnings per share were SEK 2.30 (2.50)
Group total
»    Net revenue totalled SEK 226 million (256)
»    Profit before tax amounted to SEK 21 million (22)
»    Profit after tax amounted to SEK 16 million (17)
»    Earnings per share were SEK 2.30 (2.50)

 

CEO’s comments on the Group’s development during the period
Profit before tax for the entire nine-month period exceeded last year’s results by 12 per cent with a more or less unchanged level of sales. Compared to the seasonally strong second quarter, the third quarter is normally significantly weaker, and this was also the case this year. The volumes during the past quarter were also slightly lower than in the corresponding period last year, while operating profit largely matched that of the comparison period. 
     The Industrial Solutions business unit reported lower sales but an improved operating margin during the interim period. The level of market activity remained generally low among major contract customers and there were few project assignments within the packaging industry during the third quarter. As regards proprietary products aimed primarily at furniture and interior manufacturers, on the other hand, developments were positive. 
     The Precision Technology business unit reported increased earnings and continued good profitability during the interim period. Over the past quarter, the market situation varied between the different industry segments in which the companies operate, although on the whole it remained stable. The extension of production premises in Västervik has been completed and entails a valuable strengthening of capacity.
     The Rotational Moulding business unit reported slightly higher sales and a markedly improved operating margin for the nine-month period. During the third quarter, the volumes were on a par with last year, although with improved profitability as a result of the structural changes that had previously been implemented. The sales trend for proprietary products remained good.
     In summary, the market conditions are largely unchanged since the previous quarter. Incoming orders in respect of project-related operations are still weak, however, which will affect volumes over the upcoming quarters. Activity within the other segments is on a par both with recent months and with last year. The Group’s long-term focus on profitable growth through e.g. strategic marketing activities and product development remains.

 

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