Quarterly Report • Oct 23, 2014
Quarterly Report
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Invoicing continued to increase during the third quarter, albeit at a slower pace than in the past. The trend from the first half of the year continued, with favorable growth reported by Habia, mainly driven by a high level of demand in the telecom segment. However, the mild winter weather at the beginning of the year continued to have a negative effect on Lesjöfors's sales of chassis springs. The Beijer Alma Group sells to several different industries, some of which are sensitive to economic fluctuations and others which are not. The business segments with the greatest dependence on the general economic situation were essentially stable compared with the preceding year.
Profit after net financial items totaled MSEK 97, compared with MSEK 100 in the year-earlier period. The operating margin fell to 12.8 percent (13.7). This slight decline in profitability was mainly the result of changes in the Group's income structure, with lower income in Lesjöfors replaced by higher income in Habia.
Cash flow amounted to MSEK 74 (80). The Beijer Alma Group maintained a strong financial position. Net debt at the end of the period totaled MSEK 180 (178) and the debt/equity ratio fell to 11 percent (12), which means that the Group has sufficient resources to grow both organically and through corporate acquisitions.
Lesjöfors's invoicing amounted to MSEK 395, down 7 percent year-on-year. This decline was attributable to weaker demand in the Chassis Springs business area, whose sales fell 26 percent. Sales of chassis springs were impacted significantly by the mild winter. However, a comparison with the figures for 2013 is challenging, since demand at the time was impacted by exceptionally favorable weather conditions. Sales of industrial springs grew 2 percent. Demand in the UK operations increased sharply. Germany also reported growth, while the Nordic region remained stable. The conclusion of project transactions in the telecom sector continued to exert pressure on the company's income in China.
Operating profit amounted to MSEK 66, compared with MSEK 83 in the year-earlier period, and the operating margin declined year-on-year. This decline in earnings was fully attributable to Chassis Springs, while the Industry business area reported an unchanged operating margin and earnings.
Habia's invoicing rose 29 percent to MSEK 195. Telecom customers continued to account for most of this increase. Sales of cables for base-station antennas rose 61 percent. However, order bookings increased at a slower pace, which may indicate that demand has now stabilized at a historically high level. Other customer segments grew 10 percent. This improvement in invoicing was mainly attributable to deliveries of cables used in nuclear power plants.
Operating profit increased to MSEK 24, compared with MSEK 15 in the year-earlier period. The favorable capacity situation in the Telecom business area contributed to the company's improved earnings and higher operating margin.
Habia decided to relocate its entire manufacturing operation for cables for base-station antennas to China. Preparations will be made in the fourth quarter of 2014 and the move is expected to be
completed in the second half of 2015. The company's manufacturing capacity will also be expanded in conjunction with the relocation.
Beijer Tech's invoicing was essentially unchanged compared with the year-earlier period and amounted to MSEK 181 (178). Operating profit rose to MSEK 13 (10), resulting in an improved operating margin. The Fluid Technology business area reported a strong sales and earnings trend, as well as a higher operating margin. While the sales trend in Industrial Products was somewhat negative, the business area maintained its earnings and reported a slightly stronger operating margin.
In conclusion, the level of risk in the global economy has increased in recent months. However, the demand situation is relatively stable compared with earlier quarters.
Bertil Persson President and CEO
During the third quarter, order bookings amounted to MSEK 750 (755), down 1 percent. Invoicing increased 2 percent to MSEK 771 (753). Fluctuations in exchange rates had a positive impact of MSEK 4 on invoicing. Operating profit totaled MSEK 98.6 (103.1) and the operating margin was 12.8 percent (13.7). Profit after net financial items amounted to MSEK 96.7 (100.3). Earnings per share after tax totaled SEK 2.44 (2.55). Fluctuations in exchange rates had a positive impact of MSEK 4 on earnings. Cash flow after capital expenditures amounted to MSEK 73.5 (79.8).
During the January to September period, order bookings amounted to MSEK 2,501 (2,333), up 7 percent. Invoicing rose 9 percent to MSEK 2,502 (2,293). In comparable units, order bookings increased 5 percent and invoicing 7 percent. Fluctuations in exchange rates had a positive impact of MSEK 3 on order bookings and invoicing. Operating profit totaled MSEK 328.8 (297.8) and the operating margin was 13.1 percent (13.0). Profit after net financial items amounted to MSEK 322.0 (288.3). Effects from foreign exchange contracts and fluctuations in exchange rates had a positive impact of MSEK 7 on earnings. Earnings per share totaled SEK 8.12 (7.32).
Cash flow after capital expenditures, excluding corporate acquisitions, amounted to MSEK 160.8 (209.4). Net debt totaled MSEK 180 (178).
Lesjöfors AB is a full-range supplier of standard and specially produced industrial springs, wire and flat strip components. The company is a dominant player in the Nordic region and one of the largest companies in its industry in Europe. Lesjöfors has manufacturing operations in Sweden, Denmark, Finland, Germany, Latvia, the UK, Slovakia and China.
During the third quarter, order bookings totaled MSEK 399 (442), down 10 percent. Invoicing amounted to MSEK 394 (423), down 7 percent. Fluctuations in exchange rates had a positive impact of MSEK 5 on order bookings and invoicing. Operating profit totaled MSEK 66.2 (82.7).
During the January to September period, order bookings remained unchanged at MSEK 1,303. Invoicing rose 4 percent to MSEK 1,329 (1,278). In comparable units, order bookings increased 4 percent and invoicing remained unchanged. Exchange rates had a positive impact of 4 percent. Operating profit totaled MSEK 246 (251).
Lesjöfors conducts its operations in two business areas: Industry and Chassis Springs. While Industry reported a year-on-year increase in invoicing and earnings, Chassis Springs' invoicing and earnings declined compared with the record figures reported in the year-earlier period.
Habia Cable AB is one of Europe's largest manufacturers of custom-designed cables for customers in the telecom, transport, nuclear power, defense and other industries. The company has manufacturing operations in Sweden, Germany, China and Poland, and conducts sales worldwide.
During the third quarter, order bookings increased 28 percent to MSEK 171 (134). Invoicing amounted to MSEK 195 (151), up 29 percent. Fluctuations in exchanges rates boosted order bookings and invoicing by 5 percent and operating profit totaled MSEK 23.6 (14.9).
During the January to September period, order bookings rose 31 percent to MSEK 604 (461). Invoicing increased 29 percent to MSEK 578 (447), with a currency effect of 4 percent. Operating profit totaled MSEK 66.6 (33.0).
Habia experienced highly favorable demand from the telecom sector and improved volumes from other customer segments.
Beijer Tech AB specializes in industrial trading in the Nordic region and represents several of the world's leading manufacturers. The company's operations are conducted in two business areas: Industrial Products and Fluid Technology/Industrial Rubber.
During the third quarter, order bookings and invoicing amounted to MSEK 181 (178), up 2 percent. Operating profit totaled MSEK 12.7 (9.9).
During the January to September period, order bookings and invoicing increased 4 percent to MSEK 594 (569). Operating profit totaled MSEK 35.0 (30.6).
Beijer Tech's market comprises the Nordic countries. Demand in Fluid Technology improved, while the market for Industrial Products remained cautious.
The Parent Company, Beijer Alma AB, is a holding company that does not conduct external invoicing. The Parent Company reported an operating loss of MSEK 3.8 (loss: 4.3) for the third quarter. The operating loss for the January to September period totaled MSEK 18.3 (loss: 16.6).
Net revenues MSEK 2014 2014 2014 2013 2013 2013 2013 2013 2012 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Fullyear Fullyear Lesjöfors 394.5 455.8 479.1 398.8 423.5 472.1 381.9 1,676.3 1,366.7 Habia Cable 195.1 200.6 182.0 177.3 150.8 160.8 135.4 624.3 632.4 Beijer Tech 180.8 219.4 194.0 197.0 178.2 203.7 186.7 765.6 780.3 Parent Company and intra-Group 0.1 0.1 0.1 – 0.1 – 0.2 0.3 0.3 Total 770.5 875.9 855.2 773.1 752.6 836.6 704.2 3,066.5 2,779.7
| MSEK | 2014 | 2014 | 2014 | 2013 | 2013 | 2013 | 2013 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|
| Full | Full | ||||||||
| Q3 | Q2 | Q1 | Q4 | Q3 | Q2 | Q1 | year | year | |
| Lesjöfors | 66.2 | 88.4 | 90.9 | 80.7 | 82.7 | 97.8 | 70.5 | 331.7 | 285.4 |
| Habia Cable | 23.6 | 22.5 | 20.5 | 20.2 | 14.9 | 12.8 | 5.3 | 53.2 | 61.9 |
| Beijer Tech | 12.7 | 14.3 | 8.0 | 3.0 | 9.9 | 13.9 | 6.8 | 33.6 | 47.2 |
| Parent Company and intra-Group | –3.9 | –7.6 | –6.8 | –5.4 | –4.4 | –7.0 | –5.4 | –22.2 | –22.2 |
| Total operating profit | 98.6 | 117.6 | 112.6 | 98.5 | 103.1 | 117.5 | 77.2 | 396.3 | 372.3 |
| Net financial items | –1.9 | –1.7 | –3.2 | –2.1 | –2.8 | –3.5 | –3.2 | –11.6 | –10.5 |
| Profit after net financial items | 96.7 | 115.9 | 109.4 | 96.4 | 100.3 | 114.0 | 74.0 | 384.7 | 361.8 |
No sales are conducted between segments.
No significant events occurred after the end of the period.
The Group's material risks and uncertainties include business and financial risks. Business risks may include major customer exposures to individual industries or companies. Financial risks primarily pertain to foreign currency risks that arise because more than 85 percent of sales for Habia and Lesjöfors are conducted outside Sweden, while approximately 50 percent of production takes place in Sweden.
Management of the Group's financial risks is described in Note 31 of the 2013 Annual Report. The Group is deemed to have a favorable risk spread across industries and companies and the assessment is that the risk situation has remained unchanged during the year.
This interim report was prepared in accordance with the International Financial Reporting Standards (IFRS), as adopted by the European Union (EU). The presentation of the interim report complies with IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act.
No new or revised IFRS that took effect in 2014 had a significant impact on the Group. Accounting policies and terms of calculation are unchanged compared with those applied in the 2013 Annual Report. Significant accounting and valuation policies are found on pages 52–55 of the 2013 Annual Report.
The fair value of financial assets and liabilities is deemed to correspond to the carrying amount.
The Parent Company, Beijer Alma AB, applies the Swedish Annual Accounts Act and the Swedish Financial Reporting Board's recommendation RFR 2 Accounting for Legal Entities. These accounting policies correspond with the preceding year and with the consolidated accounting policies where applicable.
| Group | |||||||
|---|---|---|---|---|---|---|---|
| MSEK | 2014 | 2013 | 2014 | 2013 | 2013 | 2012 | 2011 |
| Q3 | Q3 | Jan-Sep | Jan-Sep | Full-year | Full-year | Full-year | |
| Net revenues | 770.5 | 752.6 | 2,501.6 | 2,293.4 | 3,066.5 | 2,779.7 | 2,830.2 |
| Cost of goods sold | –525.8 | –512.1 | –1,701.8 | –1,556.8 | –2,071.5 | –1,842.5 | –1,845.5 |
| Gross profit | 244.7 | 240.5 | 799.8 | 736.6 | 995.0 | 937.2 | 984.7 |
| Selling expenses | –80.8 | –74.0 | –252.8 | –235.2 | –325.0 | –316.3 | –299.6 |
| Administrative expenses | –66.4 | –63.5 | –220.1 | –204.0 | –276.8 | –249.5 | –244.6 |
| Other income | – | – | – | – | 2.0 | – | – |
| Profit from participations in associated companies | 1.1 | 0.1 | 1.9 | 0.4 | 1.1 | 0.9 | 0.9 |
| Operating profit | 98.6 | 103.1 | 328.8 | 297.8 | 396.3 | 372.3 | 441.4 |
| Interest income | 0.1 | 0.4 | 0.7 | 1.3 | 2.1 | 3.2 | 3.5 |
| Interest expenses | –2.0 | –3.2 | –7.5 | –10.8 | –13.7 | –13.7 | –16.2 |
| Profit after net financial items | 96.7 | 100.3 | 322.0 | 288.3 | 384.7 | 361.8 | 428.7 |
| Tax on net profit for the period | –23.2 | –23.5 | –77.3 | –67.6 | –95.7 | –93.3 | –115.8 |
| Net profit attributable to Parent Company shareholders | 73.5 | 76.8 | 244.7 | 220.7 | 289.0 | 268.5 | 312.9 |
| Other comprehensive income | |||||||
| Items that may be reclassified to profit or loss | |||||||
| Cash-flow hedges | 0.9 | 1.9 | –5.5 | –5.1 | –6.4 | 0.6 | –18.6 |
| Translation differences | 13.9 | –9.4 | 32.1 | 2.6 | 19.7 | –21.6 | 5.0 |
| Total other comprehensive income after tax | 14.8 | –7.5 | 26.6 | –2.5 | 13.3 | –21.0 | –13.6 |
| Total comprehensive income attributable to Parent | |||||||
| Company shareholders | 88.3 | 69.3 | 271.3 | 218.2 | 302.3 | 247.5 | 299.3 |
| Net earnings per share | |||||||
| before and after dilution, SEK | 2.44 | 2.90 | 8.12 | 7.32 | 9.59 | 8.91 | 10.38 |
| Dividend per share, SEK | – | – | – | – | 8.00 | 7.00 | 7.00 |
| Includes amortization and depreciation in the amount of, MSEK |
24.8 | 22.0 | 73.0 | 63.9 | 86.7 | 78.7 | 76.3 |
| Parent Company | |||||||
| 2014 | 2013 | 2014 | 2013 | 2013 | 2012 | 2011 | |
| Q3 | Q3 | Jan-Sep | Jan-Sep | Full-year | Full-year Full-year | ||
| Administrative expenses | –8.4 | –8.9 | –32.0 | –30.3 | –40.4 | –39.2 | –36.3 |
| Other operating income | 4.6 | 4.6 | 13.7 | 13.7 | 18.2 | 17.0 | 12.1 |
| Operating loss | –3.8 | –4.3 | –18.3 | –16.6 | –22.2 | –22.2 | –24.2 |
| Income from participations in Group companies | – | – | – | – | 209.0 | 161.0 | 145.0 |
| Interest income and similar revenues | 0.2 | 0.7 | 0.5 | 1.3 | 1.8 | 2.5 | 4.2 |
| Interest expenses and similar expenses | –0.3 | –0.3 | –0.6 | –2.6 | –2.7 | –20.6 | –5.8 |
Profit/loss after net financial items –3.9 –3.9 –18.4 –17.9 185.9 120.7 119.2 Group contributions received – – – – 40.0 81.7 110.1 Tax on net profit for the period 0.5 0.8 3.5 3.5 –4.6 –10.2 –22.6 Net profit/loss –3.4 –3.1 –14.9 –14.4 221.3 192.2 206.7
No items are attributable to other comprehensive income.
| Group | ||||
|---|---|---|---|---|
| MSEK | 2014 | 2013 | 2013 | 2012 |
| Sep 30 | Sep 30 | Dec 31 | Dec 31 | |
| Assets | ||||
| Fixed assets | ||||
| Intangible assets | 507.1 | 535.4 | 504.8 | 533.3 |
| Tangible assets | 658.5 | 605.4 | 640.0 | 537.2 |
| Deferred tax assets | 31.8 | 24.4 | 23.9 | 15.7 |
| Financial assets | 28.4 | 23.5 | 23.8 | 25.4 |
| Total fixed assets | 1,225.8 | 1,188.7 | 1,192.5 | 1,111.6 |
| Current assets | ||||
| Inventories | 591.5 | 512.4 | 541.2 | 516.1 |
| Receivables | 678.1 | 654.6 | 560.5 | 527.5 |
| Cash and bank balances | 185.0 | 171.9 | 253.8 | 239.5 |
| Total current assets | 1,454.6 | 1,338.9 | 1,355.5 | 1,283.1 |
| Total assets | 2,680.4 | 2,527.6 | 2,548.0 | 2,394.7 |
| 2014 | 2013 | 2013 | 2012 | |
| Sep 30 | Sep 30 | Dec 31 | Dec 31 | |
| Shareholders' equity and liabilities | ||||
| Shareholders' equity | ||||
| Share capital | 125.5 | 125.5 | 125.5 | 125.5 |
| Other contributed capital | 444.4 | 444.4 | 444.4 | 444.4 |
| Reserves | 3.8 | –38.5 | –22.8 | –36.0 |
| Retained earnings, including net profit for the period | 1,067.4 | 995.4 | 1,063.8 | 985.6 |
| Shareholders' equity attributable to Parent Company | ||||
| shareholders | 1,641.1 | 1,526.8 | 1,610.9 | 1,519.5 |
| Non-controlling interests | 3.6 | 2.7 | 3.6 | 2.6 |
| Total shareholders' equity | 1,644.7 | 1,529.5 | 1,614.5 | 1,522.1 |
| Non-current liabilities to credit institutions | 143.7 | 197.3 | 181.3 | 151.5 |
| Other non-current liabilities | 110.6 | 152.1 | 117.9 | 172.0 |
| Current liabilities to credit institutions | 221.2 | 149.7 | 164.8 | 144.8 |
| Current non-interest-bearing liabilities | 560.2 | 499.0 | 469.5 | 404.3 |
| Total liabilities | 1,035.7 | 998.1 | 933.5 | 872.6 |
| Total shareholders' equity and liabilities | 2,680.4 | 2,527.6 | 2,548.0 | 2,394.7 |
| MSEK | 2014 | 2013 | 2013 | 2012 |
|---|---|---|---|---|
| Sep 30 | Sep 30 | Dec 31 | Dec 31 | |
| Assets | ||||
| Fixed assets | ||||
| Tangible assets | 1.1 | 1.0 | 1.0 | 1.0 |
| Financial assets | 532.2 | 532.2 | 532.2 | 534.0 |
| Total fixed assets | 533.3 | 533.2 | 533.2 | 535.0 |
| Current assets | ||||
| Receivables | 102.9 | 81.2 | 277.3 | 310.5 |
| Cash and cash equivalents | 0.1 | 0.8 | 41.1 | 40.0 |
| Total current assets | 103.0 | 82.0 | 318.4 | 350.5 |
| Total assets | 636.3 | 615.2 | 851.6 | 885.5 |
| MSEK | 2014 | 2013 | 2013 | 2012 |
| Sep 30 | Sep 30 | Dec 31 | Dec 31 | |
| Shareholders' equity and liabilities | ||||
| Share capital | 125.5 | 125.5 | 125.5 | 125.5 |
| Statutory reserve | 444.4 | 444.4 | 444.4 | 444.4 |
| Retained earnings | 19.3 | 39.1 | 39.1 | 57.8 |
| Net profit/loss for the period | –14.9 | –14.4 | 221.3 | 192.2 |
| Total shareholders' equity | 574.3 | 594.6 | 830.3 | 819.9 |
| Current liabilities to credit institutions | 50.2 | 9.4 | – | 47.2 |
| Current non-interest-bearing liabilities | 11.8 | 11.2 | 21.3 | 18.4 |
| Total shareholders' equity and liabilities | 636.3 | 615.2 | 851.6 | 885.5 |
| Pledged assets | 13.4 | 13.4 | 13.4 | 13.4 |
| Contingent liabilities | – | – | – | – |
| 2014 | 2013 | 2014 | 2013 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|
| Q3 | Q3 | Jan-Sep | Jan-Sep | Full-year | Full-year | Full-year | |
| Cash flow from operating activities before change in working capital and capital expenditures Change in working capital, increase (–) decrease (+) |
97.3 –4.5 |
104.5 7.0 |
315.9 –67.2 |
298.8 –11.3 |
394.7 7.6 |
318.2 18.0 |
388.4 –61.0 |
| Cash flow from operating activities | 92.8 | 111.5 | 248.7 | 287.5 | 402.3 | 336.2 | 327.4 |
| Investing activities | –19.3 | –31.7 | –87.9 | –78.1 | –125.3 | –72.0 | –94.6 |
| Acquired companies less cash and cash equivalents | – | – | – | –76.0 | –68.8 | –134.1 | –77.5 |
| Cash flow after capital expenditures | 73.5 | 79.8 | 160.8 | 133.4 | 208.2 | 130.1 | 155.3 |
| Financing activities | –19.2 | –69.2 | –229.5 | –209.1 | –193.9 | –159.6 | –124.4 |
| Change in cash and cash equivalents | 54.3 | 10.6 | –68.7 | –75.7 | 14.3 | –29.5 | 30.9 |
| Cash and cash equivalents at beginning of period | 130.8 | 161.3 | 253.8 | 247.6 | 239.5 | 269.0 | 238.1 |
| Cash and cash equivalents at end of period | 185.1 | 171.9 | 185.1 | 171.9 | 253.8 | 239.5 | 269.0 |
| Approved but not utilized committed credit facilities | 432.1 | 396.9 | 432.1 | 396.9 | 461.0 | 306.0 | 389.9 |
| Available liquidity | 617.2 | 568.8 | 617.2 | 568.8 | 714.8 | 545.5 | 658.9 |
| 2014 | 2013 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|
| Jan-Sep | Jan-Sep | Full-year | Full-year | Full-year | |
| Opening shareholders' equity attributable to Parent Company shareholders | 1,610.9 | 1,519.5 | 1,519.5 | 1,482.9 | 1,394.5 |
| Comprehensive income for the period | 271.2 | 218.2 | 302.3 | 247.5 | 299.3 |
| Dividend paid | –241.0 | –210.9 | –210.9 | –210.9 | –210.9 |
| Closing shareholders' equity attributable to Parent Company shareholders | 1,641.1 | 1,526.8 | 1,610.9 | 1,519.5 | 1,482.9 |
| Non-controlling interests | 3.6 | 2.7 | 3.6 | 2.6 | 2.7 |
| Total closing shareholders' equity | 1,644.7 | 1,529.5 | 1,614.5 | 1,522.1 | 1,485.6 |
| Retained earnings, including net profit for |
|||||
|---|---|---|---|---|---|
| Share capital | Other contributed capital | Reserves | the period | Total | |
| December 31, 2013 | 125.5 | 444.4 | –22.7 | 1,063.6 | 1,610.8 |
| Comprehensive income for | |||||
| the period | 26.6 | 244.7 | 271.3 | ||
| Dividend paid | –241.0 | –241.0 | |||
| September 30, 2014 | 125.5 | 444.4 | 3.9 | 1,067.3 | 1,641.1 |
| 2014 | 2013 | 2012 | |
|---|---|---|---|
| Sep 30 | Dec 31 | Dec 31 | |
| Number of shares outstanding | 30,131,100 | 30,131,100 | 30,131,100 |
| Total number of shares, after full dilution | 30,131,100 | 30,131,100 | 30,131,100 |
| Average number of shares, after full dilution | 30,131,100 | 30,131,100 | 30,131,100 |
Of the total number of shares outstanding, 3,330,000 are Class A shares and the remaining shares are Class B shares.
| 2014 | 2013 | 2014 | 2013 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|
| Q3 | Q3 | Jan-Sep | Jan-Sep | Full-year | Full-year | Full-year | |
| Number of shares | 30,131,100 | 30,131,100 | 30,131,100 | 30,131,100 | 30,131,100 | 30,131,100 | 30,131,100 |
| Net revenues, MSEK | 770.5 | 752.6 | 2,501.6 | 2,293.4 | 3,066.5 | 2,779.7 | 2,830.2 |
| Operating profit, MSEK | 98.6 | 103.1 | 328.8 | 297.8 | 396.3 | 372.3 | 441.4 |
| Profit before tax, MSEK | 96.7 | 100.3 | 322.0 | 288.3 | 384.7 | 361.8 | 428.7 |
| Earnings per share after tax, SEK | 2.44 | 2.55 | 8.12 | 7.32 | 9.59 | 8.91 | 10.38 |
| Earnings per share after 22.0% or 26.3% standard tax, SEK Cash flow after capital expenditures, |
2.50 | 2.60 | 8.34 | 7.46 | 9.96 | 8.85 | 10.49 |
| excluding acquisitions per share, SEK | 2.44 | 2.65 | 5.33 | 6.94 | 9.19 | 8.77 | 7.73 |
| Return on shareholders' equity, % | 18.9 | 21.0 | 20.6 | 19.7 | 19.2 | 17.8 | 21.8 |
| Return on capital employed, % | 20.0 | 22.1 | 22.2 | 21.6 | 21.1 | 21.2 | 26.4 |
| Shareholders' equity per share, SEK | 54.47 | 50.67 | 54.47 | 50.67 | 53.46 | 50.43 | 49.22 |
| Equity ratio, % | 61.2 | 60.4 | 61.2 | 60.4 | 63.2 | 63.5 | 67.4 |
| Net debt/equity ratio, % Cash and cash equivalents, including |
11.0 | 11.6 | 11.0 | 11.6 | 5.7 | 3.7 | –1.5 |
| unutilized credit facilities, MSEK | 617.2 | 568.8 | 617.2 | 568.8 | 714.8 | 625.5 | 658.9 |
| Capital expenditures, MSEK | 18.6 | 29.7 | 78.4 | 78.6 | 126.4 | 70.5 | 89.2 |
| Interest-coverage ratio, multiple Number of employees at end of |
46.1 | 31.7 | 43.1 | 27.7 | 29.0 | 27.5 | 27.5 |
| period | 2,161 | 2,162 | 2,161 | 2,162 | 2,132 | 1,972 | 1,686 |
Uppsala, October 23, 2014
Beijer Alma AB (publ)
Bertil Persson President and CEO
This interim has not been reviewed by the company's auditors.
Bertil Persson, President and CEO, Telephone +46 8 506 427 50, [email protected] Jan Blomén, Chief Financial Officer, Telephone +46 18 15 71 60, [email protected]
______________________________________________________________________________________
Read more at: www.beijeralma.se
www.lesjoforsab.com www.habia.com www.beijertech.se
Year-end report on February 9, 2015.
The Annual General Meeting will be held in Uppsala on March 19, 2015.
Beijer Alma AB (publ)
Dragarbrunnsgatan 45, Box 1747, SE-751 47 Uppsala, Sweden. Telephone +46 18 15 71 60. Fax +46 18 15 89 87. Registered office: Uppsala. Corp. Reg. No: 556229-7480. www.beijeralma.se
Interim report January to September 2014 Page 9:9
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