Quarterly Report • Oct 23, 2013
Quarterly Report
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The recovery that began in the second quarter continued and strengthened during the third quarter. This improvement was particularly evident in Lesjöfors, which primarily benefitted from strong demand in Chassis Springs. Habia also reported growth, while Beijer Tech experienced somewhat weaker sales than in the year-earlier period. The Group's total invoicing amounted to MSEK 753, up 15 percent year-on-year. In comparable units, invoicing increased 8 percent. This higher invoicing volume contributed to strong earnings and margin trends. Profit after net financial items totaled MSEK 100, up 32 percent compared with the corresponding period in the preceding year. The operating margin increased from 12.2 percent to 13.7 percent. Both Lesjöfors and Habia contributed to the positive margin trend. Cash flow remained strong and amounted to MSEK 80 for the quarter, which resulted in net debt declining to MSEK 178. The strong balance sheet will provide the Group with excellent opportunities to grow organically and through acquisitions.
Lesjöfors experienced a strong trend during the quarter. The order backlog rose and invoicing increased by 28 percent to MSEK 423. In comparable units, the rate of growth was 20 percent. Lesjöfors experienced the greatest growth in the Chassis Springs business area, increasing 56 percent during the quarter. Accumulated, since the beginning of the year, sales of chassis springs have risen 31 percent. All markets are performing well and the strongest growth is being experienced by the German market. Sales also increased in Industrial Springs and Flat Strip Components during the third quarter. The strong growth in Chassis Springs in particular bolstered Lesjöfors' earnings and margin trends. Operating profit increased 42 percent during the third quarter to MSEK 83.
Habia's invoicing grew 4 percent during the third quarter to MSEK 151. Telecom and other product areas reported higher invoicing year-on-year. The order backlog declined during the quarter due to lower order bookings from industrial customers and delayed orders from nuclear-power customers. However, business activity in the nuclear-power area remains high, which should lead to improved order bookings in the coming quarters. Demand from telecom customers remains robust. Habia holds a strong global market position in cables for base-station antennas and the build-out of the mobile network, particularly in China, is contributing to demand for the company's products. Improved sales volumes contributed to an increase in Habia's operating profit from MSEK 13 to MSEK 15.
Beijer Tech's invoicing rose 1 percent to MSEK 178 during the third quarter. In comparable units, however, invoicing declined 9 percent. The rate of the decline was lower than in previous months. In the past quarter, invoicing was primarily weaker in Fluid Technology, while sales in Industrial Products remained relatively unchanged. Operating profit declined from MSEK 12 to MSEK 10, due primarily to non-recurring costs in the Industry business area. Adjusted for these costs, both earnings and the operating margin were in line with the year-earlier period.
Bertil Persson President and CEO
The demand trend was positive and invoicing increased in Lesjöfors and Habia. In Beijer Tech, whose dominant market is Sweden, the trend was weaker. Lesjöfors's Chassis Springs business area performed the best in terms of sales. Overall, order bookings in comparable units rose 10 percent, compared with the year-earlier period.
During the third quarter, order bookings totaled MSEK 753 (641), up 17 percent. Invoicing increased 15 percent to MSEK 755 (652). In comparable units, invoicing rose 8 percent. Operating profit was MSEK 103.1 (79.5) and the operating margin was 13.7 percent (12.2). Profit after net financial items amounted to MSEK 100.3 (76.1) and earnings per share were SEK 2.55 (1.84).
Cash flow after capital expenditures was MSEK 79.8 (51.5). In the year-earlier period, corporate acquisitions of MSEK 39.9 were charged to cash flow. Net debt amounted to MSEK 178 (126).
During the period from January to September, order bookings rose 12 percent to MSEK 2,333 (2,077). Invoicing totaled MSEK 2,293 (2,101), up 9 percent. In comparable units, order bookings rose 3 percent, while invoicing remained unchanged. Operating profit totaled MSEK 297.8 (276.0) and the operating margin was 13.0 percent (13.1). Fluctuations in exchange rates had a negligible impact on earnings. Profit after net financial items was MSEK 288.3 (266.8). Earnings per share were SEK 7.32 (6.46). The Group's cash flow after capital expenditures but before acquisitions was MSEK 209.4 (222.0).
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.
Lesjöfors pursues operations in three business areas: Industrial Springs, Flat Strip Components and Chassis Springs. The principal customer of Industrial Springs and Flat Strip Components is the engineering industry, while Chassis Springs sells to the aftermarket for vehicles. Sales increased in all business areas. The highest rate of increase was in Chassis Springs.
During the third quarter, order bookings totaled MSEK 442 (320), up 38 percent. Invoicing rose 28 percent to MSEK 423 (330). In comparable units, order bookings increased 31 percent and invoicing rose 20 percent. Operating profit was MSEK 82.7 (58.1)
During the period from January to September, order bookings amounted to MSEK 1,303 (1,043), up 25 percent. Invoicing levels rose 21 percent to MSEK 1,278 (1,054). In comparable units, order bookings rose by 13 percent and invoicing by 9 percent. Operating profit totaled MSEK 251.0 (215.1).
Habia Cable AB is one of Europe's largest manufacturers of custom-designed cable 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.
Habia's demand was stable during the quarter. Invoicing to both the telecom sector and engineering industry were at slightly higher levels year-on-year.
During the third quarter, order bookings declined 8 percent to MSEK 134 (145). Invoicing increased 4 percent to MSEK 151 (145). Operating profit totaled MSEK 14.9 (12.8).
During the period from January to September, order bookings totaled MSEK 461 (449), up 3 percent. Invoicing declined 3 percent to MSEK 1,447 (460). Operating profit was MSEK 33.0 (40.5)
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 the business areas: Industrial Products and Fluid Technology/Industrial Rubber.
Demand remains weak in the Fluid Technology/Industrial Rubber business area, which reported lower invoicing than in the year-earlier period. However, the quarterly invoicing for Industrial Products was in line with the year-earlier period.
During the third quarter, order bookings and invoicing totaled MSEK 178 (176), up 1 percent. In comparable units, the volume of order bookings and invoicing declined 9 percent. Operating profit was MSEK 9.9 (12.3)
During the period from January to September, order bookings and invoicing totaled MSEK 569 (587), down 3 percent. In comparable units, the volume of order bookings and invoicing declined 13 percent. Operating profit was MSEK 30.6 (38.7).
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 4.3 (loss: 3.9) during the third quarter, and a loss of MSEK 16.6 (loss: 18.6) during the period from January to September.
| Net revenues | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| MSEK | 2013 | 2013 | 2013 | 2012 | 2012 | 2012 | 2012 | 2012 Full |
2011 Full |
| Q3 | Q2 | Q1 | Q4 | Q3 | Q2 | Q1 | year | year | |
| Lesjöfors | 423.5 | 472.1 | 381.9 | 312.5 | 330.4 | 368.9 | 354.9 | 1,366.7 | 1,386.0 |
| Habia Cable | 150.8 | 160.8 | 135.4 | 172.6 | 145.2 | 152.2 | 162.4 | 632.4 | 668.2 |
| Beijer Tech | 178.2 | 203.7 | 186.7 | 193.8 | 176.1 | 209.7 | 200.7 | 780.3 | 777.1 |
| Parent Company and intra-Group | 0.1 | 0 | 0.2 | 0 | 0.1 | 0.1 | 0.1 | 0.3 | –1.1 |
| Total | 752.6 | 836.6 | 704.2 | 678.9 | 651.8 | 730.9 | 718.1 | 2 779.7 | 2 830.2 |
| Operating profit | |||||||||
| MSEK | 2013 | 2013 | 2013 | 2012 | 2012 | 2012 | 2012 | 2012 Full |
2011 Full |
| Q3 | Q2 | Q1 | Q4 | Q3 | Q2 | Q1 | year | year | |
| Lesjöfors | 82.7 | 97.8 | 70.5 | 70.3 | 58.1 | 78.9 | 78.1 | 285.4 | 352.1 |
| Habia Cable | 14.9 | 12.8 | 5.3 | 21.4 | 13.1 | 12.1 | 15.3 | 61.9 | 55.9 |
| Beijer Tech | 9.9 | 13.9 | 6.8 | 8.5 | 12.3 | 13.9 | 12.5 | 47.2 | 57.8 |
| Parent Company and intra-Group | –4.4 | –7.0 | –5.4 | –3.9 | –4.0 | –8.5 | –5.8 | –22.2 | –24.4 |
| Total operating profit | 103.1 | 117.5 | 77.2 | 96.3 | 79.5 | 96.4 | 100.1 | 372.3 | 441.4 |
| Net financial items | –2.8 | –3.5 | –3.2 | –1.3 | –3.4 | –3.6 | –2.2 | –10.5 | –12.7 |
No corporate acquisitions were made during the third quarter. During the first half of the year, Lesjöfors acquired S & P Federnwerk GmbH & Co KG and Centrum B. Also during the first half of the year, Beijer Tech acquired PMU Reparation och Smide AB and the assets and liabilities of Lubritek.
Profit after financial items 100.3 114.0 74.0 95.0 76.1 92.8 97.9 361.8 428.7
Detailed information about the acquisitions completed during the first half of the year is available in previous interim reports.
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 85 percent of sales for Habia and Lesjöfors are conducted outside Sweden, while approximately 55 percent of production takes place in Sweden.
Management of the Group's financial risks is described in Note 30 of the 2012 Annual Report. The Group is deemed to have a favorable risk spread across industries and companies and the assessment is that the risk situation 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 year-end report complies with IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act.
No new or revised IFRS that took effect in 2013 had a significant impact on the Group. Accounting policies and terms of calculation are unchanged compared with those applied in the 2012 Annual
Report. Significant accounting and valuation policies are found on pages 54-57 of the 2012 Annual Report.
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 | 2013 | 2012 | 2013 | 2012 | 2012 | 2011 | 2010 |
| Q3 | Q3 | Jan–Sept | Jan–Sept | Full-year | Full-year | Full-year | |
| Net revenues | 752.6 | 651.8 | 2,293.4 | 2,100.8 | 2,779.7 | 2,830.2 | 2,290.1 |
| Cost of goods sold | –512.1 | –447.6 | –1,556.8 | –1,411.7 | –1,842.5 | –1,845.5 | –1,426.2 |
| Gross profit | 240.5 | 204.2 | 736.6 | 689.1 | 937.2 | 984.7 | 863.9 |
| Selling expenses | –74.0 | –70.8 | –235.2 | –228.8 | –316.3 | –299.6 | –238.3 |
| Administrative expenses | –63.5 | –54.4 | –204.0 | –185.2 | –249.5 | –244.6 | –220.2 |
| Profit from participations in associated | |||||||
| companies | 0.1 | 0.5 | 0.4 | 0.9 | 0.9 | 0.9 | 0.9 |
| Operating profit | 103.1 | 79.5 | 297.8 | 276.0 | 372.3 | 441.4 | 406.3 |
| Interest income | 0.4 | 0.5 | 1.3 | 1.7 | 3.2 | 3.5 | 1.9 |
| Interest expenses | –3.2 | –3.9 | –10.8 | –10.9 | –13.7 | –16.2 | –9.4 |
| Profit after financial items | 100.3 | 76.1 | 288.3 | 266.8 | 361.8 | 428.7 | 398.8 |
| Tax on net profit for the year | –23.5 | –20.5 | –67.6 | –72.0 | –93.3 | –115.8 | –112.3 |
| Net profit attributable to Parent Company shareholders |
76.8 | 55.6 | 220.7 | 194.8 | 268.5 | 312.9 | 286.5 |
| Other comprehensive income Income/expenses recognized directly against shareholders' equity |
|||||||
| Cash-flow hedges | 1.9 | 1.7 | –5.1 | 2.4 | 0.6 | –18.6 | 8.5 |
| Translation differences | –9.4 | –33.1 | 2.6 | –29.7 | –21.6 | 5.0 | –39.5 |
| Total other comprehensive income after tax | –7.5 | –31.4 | –2.5 | –27.3 | –21.0 | –13.6 | –31.0 |
| Total comprehensive income attributable to | |||||||
| Parent Company shareholders | 69.3 | 24.2 | 218.2 | 167.5 | 247.5 | 299.3 | 255.5 |
| Other comprehensive income pertains, in its entirety, to items that may be reclassified in the profit or loss statement. |
|||||||
| Net earnings per share | |||||||
| before and after dilution, SEK | 2.55 | 1.84 | 7.32 | 6.46 | 8.91 | 10.38 | 9.51 |
| Dividend per share, SEK | – | – | – | – | 7.00 | 7.00 | 7.00 |
| Includes amortization and depreciation in the amount of, MSEK |
21.5 | 19.9 | 63.9 | 59.1 | 78.7 | 76.3 | 70.7 |
| Parent Company | |||||||
| 2013 | 2012 | 2013 | 2012 | 2012 | 2011 | 2010 | |
| Q3 | Q3 | Jan–Sept | Jan–Sept | Full-year | Full-year | Full-year | |
| Administrative expenses | –8.9 | –8.1 | –30.3 | –31.0 | –39.2 | –36.3 | –41.2 |
| Other operating income | 4.6 | 4.2 | 13.7 | 12.7 | 17.0 | 12.1 | 14.6 |
| Operating profit | –4.3 | –3.9 | –16.6 | –18.3 | –22.2 | –24.2 | –26.6 |
| Group contributions received | – | – | – | – | 81.7 | 110.1 | 113.8 |
| Income from participations in Group | |||||||
| companies | – | – | – | – | 161.0 | 145.0 | 116.0 |
| Interest income and similar revenues | 0.7 | 0.5 | 1.3 | 1.7 | 2.5 | 4.2 | 5.0 |
| Interest expenses and similar expenses | –0.3 | –1.5 | –2.6 | –4.3 | –20.6 | –5.8 | –4.4 |
| Profit after financial items | –3.9 | –4.9 | –17.9 | –20.9 | 202.4 | 229.3 | 203.8 |
|---|---|---|---|---|---|---|---|
| Tax on net profit for the period | 0.8 | 0.8 | 3.5 | 4.3 | –10.2 | –22.6 | –25.3 |
| Net profit | –3.1 | –4.1 | –14.4 | –16.6 | 192.2 | 206.7 | 178.5 |
| Group | ||||
|---|---|---|---|---|
| MSEK | 2013 | 2012 | 2012 | 2011 |
| Sept 30 | Sept 30 | Dec 31 | Dec 31 | |
| Assets | ||||
| Fixed assets | ||||
| Intangible assets | 535.4 | 513.2 | 533.3 | 378.2 |
| Tangible assets | 605.4 | 531.8 | 537.2 | 504.7 |
| Deferred tax assets | 24.4 | 19.5 | 15.7 | 17.3 |
| Financial assets | 23.5 | 25.5 | 25.4 | 27.2 |
| Total fixed assets | 1,188.7 | 1,090.0 | 1,111.6 | 927.4 |
| Current assets | ||||
| Inventories | 512.4 | 485.6 | 516.1 | 508.8 |
| Receivables | 654.6 | 627.6 | 527.5 | 495.6 |
| Cash and bank balances | 171.9 | 166.8 | 239.5 | 269.0 |
| Total current assets | 1,338.9 | 1,280.0 | 1,283.1 | 1,273.4 |
| Total assets | 2,527.6 | 2,370.0 | 2,394.7 | 2,200.8 |
| 2013 | 2012 | 2012 | 2011 | |
| Sept 30 | Sept 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 | –38.5 | –42.3 | –36.0 | –15.0 |
| Retained earnings, including net profit for the period | 995.4 | 912.0 | 985.6 | 928.0 |
| Shareholders' equity attributable to Parent Company | ||||
| shareholders | 1,526.8 | 1,439.6 | 1,519.5 | 1,482.9 |
| Non-controlling interests | 2.7 | 2.7 | 2.6 | 2.7 |
| Total shareholders' equity | 1,529.5 | 1,442.3 | 1,522.1 | 1,485.6 |
| Long-term liabilities to credit institutions | 197.3 | 134.4 | 151.5 | 122.3 |
| Other long-term liabilities | 152.1 | 119.8 | 172.0 | 48.7 |
| Current liabilities to credit institutions | 149.7 | 157.0 | 144.8 | 124.2 |
| Current non-interest-bearing liabilities | 499.0 | 516.5 | 404.3 | 420.0 |
| Total liabilities | 998.1 | 927.7 | 872.6 | 715.2 |
| Total shareholders' equity and liabilities | 2,527.6 | 2,370.0 | 2,394.7 | 2,200.8 |
| Parent Company | ||||
|---|---|---|---|---|
| MSEK | 2013 | 2012 | 2012 | 2011 |
| Sept 30 | Sept 30 | Dec 31 | Dec 31 | |
| Assets | ||||
| Fixed assets | ||||
| Tangible assets | 1.0 | 1.0 | 1.0 | 1.0 |
| Financial assets | 532.2 | 526.7 | 534.0 | 529.4 |
| Total fixed assets | 533.2 | 527.7 | 535.0 | 530.4 |
| Current assets | ||||
| Receivables | 81.2 | 182.6 | 310.5 | 328.2 |
| Cash and cash equivalents | 0.8 | 0.1 | 40.0 | 42.2 |
| Total current assets | 82.0 | 182.7 | 350.5 | 370.4 |
| Total assets | 615.2 | 710.4 | 885.5 | 900.8 |
| MSEK | 2013 | 2012 | 2012 | 2011 |
| Sept 30 | Sept 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 | 39.1 | 57.9 | 57.8 | 62.1 |
| Net profit for the period | –14.4 | –16.6 | 192.2 | 206.7 |
| Total shareholders' equity | 594.6 | 611.2 | 819.9 | 838.7 |
| Current liabilities to credit institutions | 9.4 | 82.3 | 47.2 | 41.5 |
| Current non-interest-bearing liabilities | 11.2 | 16.9 | 18.4 | 20.6 |
| Total shareholders' equity and liabilities | 615.2 | 710.4 | 885.5 | 900.8 |
| 2013 | 2012 | 2013 | 2012 | 2012 | 2011 | 2010 | |
|---|---|---|---|---|---|---|---|
| Full | Full | Full | |||||
| Q3 | Q3 | Jan–Sept | Jan–Sept | year | year | year | |
| Cash flow from operating activities before change in | |||||||
| working capital and capital expenditures | 104.5 | 87.9 | 298.8 | 278.6 | 318.2 | 388.4 | 389.7 |
| Change in working capital, increase (–) decrease (+) | 7.0 | 19.1 | –11.3 | –11.9 | 18.0 | –61.0 | –109.4 |
| Cash flow from operating activities | 111.5 | 107.0 | 287.5 | 266.7 | 336.2 | 327.4 | 280.3 |
| Investing activities | –31.7 | –15.6 | –78.1 | –44.7 | –72.0 | –94.6 | –47.1 |
| Acquired operations | – | –39.9 | –76.0 | –136.9 | –142.3 | –80.8 | –65.0 |
| Cash flow after capital expenditures | 79.8 | 51.5 | 133.4 | 85.1 | 121.9 | 152.0 | 168.2 |
| Financing activities | –69.2 | –33.0 | –209.1 | –195.4 | –159.6 | –124.4 | –138.5 |
| Change in cash and cash equivalents | 10.6 | 18.5 | –75.7 | –110.3 | –37.7 | 27.6 | 29.7 |
| Cash and cash equivalents at beginning of period | 161.3 | 148.3 | 239.5 | 269.0 | 269.0 | 238.1 | 195.5 |
| Exchange-rate difference in cash and cash equivalents | |||||||
| and cash from acquired/divested operations | – | – | 8.1 | 8.1 | 8.2 | 3.3 | 12.9 |
| Cash and cash equivalents at end of period | 171.9 | 166.8 | 171.9 | 166.8 | 239.5 | 269.0 | 238.1 |
| Approved but not utilized committed credit facilities | 396.9 | 372.3 | 396.9 | 372.3 | 306.0 | 389.9 | 428.3 |
| Available liquidity | 568.8 | 539.1 | 568.8 | 539.1 | 545.5 | 658.9 | 666.4 |
| 2013 | 2012 | 2012 | 2011 | 2010 | |
|---|---|---|---|---|---|
| Jan–Sept | Jan–Sept | Full-year | Full-year | Full-year | |
| Opening shareholders' equity attributable to Parent Company shareholders |
1,519.5 | 1,482.9 | 1,482.9 | 1,394.5 | 985.9 |
| Comprehensive income for the period | 218.2 | 167.6 | 247.5 | 299.3 | 255.5 |
| Dividend paid | –210.9 | –210.9 | –210.9 | –210.9 | –137.2 |
| New issue Closing shareholders' equity attributable to Parent Company |
– | – | – | – | 290.3 |
| shareholders | 1,526.8 | 1,439.6 | 1,519.5 | 1,482.9 | 1,394.5 |
| Non-controlling interests | 2.7 | 2.7 | 2.6 | 2.7 | 2.7 |
| Total closing shareholders' equity | 1,529.5 | 1,442.3 | 1,522.1 | 1,485.6 | 1,397.2 |
| Retained earnings, including net profit for the |
|||||
|---|---|---|---|---|---|
| Share capital | Other contributed capital | Reserves | period | Total | |
| December 31, 2012 Comprehensive income for |
125.5 | 444.4 | –36.0 | 985.6 | 1,519.5 |
| the period | –2.5 | 220.7 | 218.2 | ||
| Dividend paid | –210.9 | –210.9 | |||
| September 30, 2013 | 125.5 | 444.4 | –38.5 | 995.4 | 1,526.8 |
| 2013 | 2012 | 2011 | |
|---|---|---|---|
| Sept 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.
| 2013 | 2012 | 2013 | 2012 | 2012 | 2011 | 2010 | |
|---|---|---|---|---|---|---|---|
| Q3 | Q3 | Jan–Sept | Jan–Sept | 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 | 752.6 | 651.8 | 2,293.4 | 2,100.8 | 2,779.7 | 2,830.2 | 2,290.1 |
| Operating profit, MSEK | 103.1 | 79.5 | 297.8 | 276.0 | 372.3 | 441.4 | 406.3 |
| Profit before tax, MSEK Earnings per share after tax, |
100.3 | 76.1 | 288.3 | 266.8 | 361.8 | 428.7 | 398.8 |
| SEK Earnings per share after 22.0% or 26.3% standard |
2.55 | 1.84 | 7.32 | 6.46 | 8.91 | 10.38 | 9.51 |
| tax, SEK Cash flow after capital expenditures, excluding |
2.60 | 1.86 | 7.46 | 6.52 | 8.85 | 10.49 | 9.75 |
| acquisitions per share, SEK Return on shareholders' |
2.65 | 3.04 | 6.94 | 7.37 | 8.77 | 7.73 | 7.74 |
| equity, % Return on capital employed, |
21.0 | 15.6 | 19.7 | 17.9 | 17.8 | 21.8 | 24.7 |
| % Shareholders' equity per |
22.1 | 18.6 | 21.6 | 21.4 | 21.2 | 26.4 | 30.6 |
| share, SEK | 50.67 | 47.13 | 50.67 | 47.78 | 50.43 | 49.22 | 46.28 |
| Equity ratio, % | 60.4 | 60.7 | 60.4 | 60.7 | 63.5 | 67.4 | 70.6 |
| Net debt/equity ratio, % Cash and cash equivalents, including unutilized credit |
11.6 | 8.8 | 11.6 | 8.8 | 3.7 | –1.5 | –6.5 |
| facilities, MSEK | 568.8 | 539.1 | 568.8 | 539.1 | 545.5 | 658.9 | 666.4 |
| Capital expenditures, MSEK Interest-coverage ratio, |
29.7 | 15.9 | 78.6 | 46.5 | 70.5 | 89.2 | 55.2 |
|---|---|---|---|---|---|---|---|
| multiple Number of employees at |
31.7 | 17.6 | 27.7 | 24.2 | 27.5 | 27.5 | 43.4 |
| end of period | 2,162 | 1,952 | 2,162 | 1,952 | 1,972 | 1,686 | 1,435 |
Uppsala, October 23, 2013
Beijer Alma AB (publ)
Bertil Persson President and CEO
This interim report has not been audited.
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 14, 2014.
The Annual General Meeting will be held in Uppsala on March 27, 2014.
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
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