Interim / Quarterly Report • Aug 19, 2010
Interim / Quarterly Report
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| 3 months ending | 12 months ending | |||||
|---|---|---|---|---|---|---|
| 30 Jun | 30 Jun | 30 Jun | 30 Jun | |||
| 2010 | 2009 | Change | 2010 | 2009 | Change | |
| Revenue, MSEK | 1,985 | 1,991 | +/–0% | 7,642 | 8,663 | –12% |
| Operating profit, MSEK | 75 | 48 | +56% | 288 | 346 | –17% |
| Profit after net financial items, MSEK | 60 | 32 | +88% | 221 | 247 | –11% |
| Profit for the period, MSEK | 43 | 23 | +87% | 154 | 178 | –13% |
| Earnings per share, SEK | 1.55 | 0.80 | +94% | 5.50 | 6.25 | –12% |
| Operating margin | 3.8% | 2.4% | 3.8% | 4.0% | ||
| Profit margin | 3.0% | 1.6% | 2.9% | 2.9% | ||
| Return on equity | 9% | 10% | ||||
| Equity per share, SEK | 64.30 | 63.05 | +2% | |||
| Equity/assets ratio | 33% | 30% | ||||
| Number of employees at the end of the | ||||||
| period | 2,820 | 3,056 | –8% |
B&B TOOLS provides the industrial and construction sectors in northern Europe with industrial consumables, industrial components and related services. The Group has annual revenue of approximately SEK 7.6 billion and approximately 2,800 employees.
Operating profit for the B&B TOOLS Group during the first quarter of the financial year amounted to MSEK 75 (48). Operating profit was charged with depreciation and impairment losses of tangible non-current assets totalling MSEK –13 (–14) and amortisation and impairment losses of intangible non-current assets amounting to MSEK –4 (–3).
The operating margin for the period rose by 1.4 percentage points to 3.8 percent (2.4).
Profit after net financial items amounted to MSEK 60 (32). Net financial items totalled MSEK –15 (–16). The profit margin increased by 1.4 percentage points to 3.0 percent (1.6).
Exchange-rate translation effects had a net impact of MSEK –1 (+3) on recognised operating profit for the period.
Profit after taxes amounted to MSEK 43 (23). Earnings per share totalled SEK 1.55 (0.80).
Revenue, MSEK
Revenue amounted to MSEK 1,985 (1,991). Exchange-rate translation effects had an adverse impact of MSEK –36 (+57) on revenue during the reporting period.
Revenue for comparable units, measured in local currency, rose by approximately 2 percent during the reporting period.
The Group's sales were relatively weak in the beginning of the quarter, but improved gradually toward the end of the quarter. Many of the Group's customers have positive expectations for the fall 2010, even though there still remain many macro economic uncertainties.
| GROUP | 3 months ending | Full-year | ||
|---|---|---|---|---|
| MSEK | 30 Jun 2010 | 30 Jun 2009 | Rolling 12 months | 2009/2010 |
| Revenue | 1,985 | 1,991 | 7,642 | 7,648 |
| Operating profit | 75 | 48 | 288 | 261 |
| Operating margin, % | 3.8 | 2.4 | 3.8 | 3.4 |
TOOLS (including TOOLS Momentum) is the B&B TOOLS Group's market channel for industrial consumables and industrial components for Nordic industry. Via TOOLS, the Group has a presence in some 200 locations in Sweden, Norway and Finland.
| MARKETS | 3 months ending | Full-year | ||
|---|---|---|---|---|
| MSEK | 30 Jun 2010 | 30 Jun 2009 | Rolling 12 months | 2009/2010 |
| Revenue | 1,349 | 1,339 | 5,121 | 5,111 |
| Operating profit | 42 | 23 | 99 | 80 |
| Operating margin, % | 3.1 | 1.7 | 1.9 | 1.6 |
Markets' revenue for comparable units, measured in local currency, rose by 3 percent during the first quarter of the financial year. The sales trend in Sweden and Finland and for TOOLS Momentum was positive during the quarter, while demand in Norway remained weak compared with the year-earlier period. Improved contribution ratios had a positive impact on Markets' earnings.
Refer also to the specification of Markets in Appendix A on page 12.
Solutions coordinates the functions that work with the operation and development of the Group's solutions in the MRO area. Solutions comprises the Group's Product Companies and the Group-wide IT, Supply Chain, Complete Product and Central Purchasing functions.
| SOLUTIONS | 3 months ending | Full-year | ||
|---|---|---|---|---|
| MSEK | 30 Jun 2010 | 30 Jun 2009 | Rolling 12 months | 2009/2010 |
| Revenue | 937 | 923 | 3,638 | 3,624 |
| Operating profit | 40 | 28 | 188 | 176 |
| Operating margin, % | 4.3 | 3.0 | 5.2 | 4.9 |
During the first quarter of the financial year, Solutions was impacted positively by a gradual improvement in demand for industrial consumables from both the Group's own market channels and external channels. Solutions' revenue for comparable units, measured in local currency, increased by 3 percent during the quarter. Improved contribution ratios had a positive effect on Solutions' earnings.
Refer also to the specification of Solutions in Appendix A on page 12.
Parent Company
The Parent Company's revenue amounted to MSEK 15 (14) and profit after net financial items totalled MSEK 0 (5). This profit did not include any intra-Group dividends or similar items.
Eliminations
Eliminations for intra-Group inventory gains had an adverse impact of MSEK –1 (–1) on profit during the period.
No new corporate acquisitions took place during the reporting period.
The return on consolidated capital employed for the most recent 12-month period was 8 percent and the return on equity was 9 percent. In the year-earlier period, the return on capital employed amounted to 9 percent and the return on equity to 10 percent.
Cash flow from operating activities before changes in working capital amounted to MSEK 45 for the reporting period and included non-recurring items totalling MSEK 5, which were charged against the provision for resolved non-recurring costs established on 31 March 2009. Funds tied up in working capital rose MSEK 116. Inventories in the Group were reduced during the period, while operating receivables increased and operating liabilities decreased. Accordingly, cash flow from operating activities for the reporting period amounted to MSEK –71. Cash flow was affected negatively in a net amount of MSEK –5 by acquisitions and sales of intangible and tangible non-current assets, while acquisitions of subsidiaries and other business units had an adverse impact of MSEK –43 on cash flow (pertaining to the settlement of purchase considerations in accordance with acquisition agreements concluded at an earlier date).
The Group's net loan liabilities at the end of the reporting period totalled MSEK 1,852 (1,936). Interestbearing liabilities at the end of the period amounted to MSEK 1,950, including pension commitments totalling MSEK 374. Liabilities to credit institutions totalled MSEK 1,576, of which MSEK 27 had a maturity period of more than three years and MSEK 208 had a maturity period of less than one year. Combined cash and cash equivalents, including unutilised granted credit facilities, totalled MSEK 588.
The equity/assets ratio at the end of the reporting period was 33 percent, compared with 32 percent at the beginning of the financial year.
Equity per share amounted to SEK 64.30 at the end of the reporting period, compared with SEK 63.05 at the beginning of the financial year. Calculated on the basis of the number of shares after dilution, equity per share totalled SEK 64.30 at the end of the reporting period, compared with SEK 63.00 SEK at the beginning of the financial year.
At the end of the reporting period, the number of employees in the Group amounted to 2,820, compared with 2,844 at the beginning of the financial year.
Share capital at the end of the reporting period totalled MSEK 56.9. The distribution by classes of shares was as follows:
| CLASSES OF SHARES | AS OF 30 JUNE 2010 |
|---|---|
| Class A shares | 1,078,092 |
| Class B shares | 27,358,324 |
| Total number of shares before repurchasing | 28,436,416 |
| Less: Repurchased class B shares | –340,000 |
| Total number of shares after repurchasing | 28,096,416 |
As of 31 March 2010, the number of class B shares held in treasury amounted to 380,500. During the reporting period, a total of 40,500 class B treasury shares were conveyed in conjunction with the redemption of personnel options, thereby concluding the personnel options programme issued in April 2002. Accordingly, at the end of the reporting period on 30 June 2010, the holding of class B treasury shares amounted to 340,000 shares, corresponding to 1.2 percent of the total number of shares and 0.9 percent of the total number of votes. All repurchased shares are reserved to secure the Company's obligations under the call options programmes issued to senior executives in the Group in September 2006 and September 2007, respectively.
There have been no changes in the holding of treasury shares after the end of the reporting period.
Proposal regarding the adoption of a renewed authorisation to repurchase own shares
The Board of Directors of B&B TOOLS AB has decided to propose that the Annual General Meeting to be held on 25 August 2010 resolve to renew the Board's authorisation to repurchase own shares in accordance with the terms and conditions established at the Annual General Meeting in August 2009.
The Interim Report for the Group was prepared in accordance with IFRS and by applying IAS 34 Interim Financial Reporting, the Swedish Annual Accounts Act and the Swedish Securities Market Act. The Interim Report for the Parent Company was prepared in accordance with the Swedish Annual Accounts Act and the Swedish Securities Market Act, which conforms with the provisions detailed in RFR 2.3 Accounting for Legal Entities. The same accounting policies and bases of judgement as in the Annual Report for 2009/2010 have been applied, with the exception of certain new standards and interpretations that were applied from 1 April 2010, as described below.
In preparation for the 2010/2011 financial year, a review was conducted of the accounting methods applied. Following this review, certain cost items were reclassified. This reclassification entails that, as of 1 April 2010, a number of cost items will be recognised under "Other operating expense" and not under "Goods for resale" as they were in the past. For more information and recalculated comparative data for prior years, refer to the separate press release dated 12 August 2010.
The B&B TOOLS Group applies revised IFRS 3 Business Combinations and amended IAS 27 Consolidated and Separate Financial Statements as of 1 April 2010. The application of these standards has resulted in the following changes: the definition of a business has been changed, transaction expenses for business combinations are to be expensed, conditional purchase considerations are to be set at fair value on the acquisition date and the effects of the revaluation of liabilities relating to conditional purchase considerations are to be recognised as revenue or cost in earnings for the year. These new rules will be applied to acquisitions carried out after 1 April 2010.
Apart from the reclassification of costs specified above and the changes to IFRS 3 and IAS 27, new IFRS and statements from the IFRIC have not had any significant impact on B&B TOOLS' financial statements.
Apart from uncertainties regarding the general economic trend, no significant changes occurred during the reporting period with respect to risks and uncertainty factors, for either the Group or the Parent Company. For information about the Group's risks and uncertainty factors, refer to pages 49-50 of B&B TOOLS' Annual Report for 2009/2010.
Stockholm, 19 August 2010
This report has not been subject to special review by the Company's auditors.
Stefan Wigren, President & CEO, tel. +46 8 660 10 30 Mats Karlqvist, Vice President - Investor Relations, tel. +46 8 442 59 04 or +46 070 660 31 32
Comprehensive contact information for B&B TOOLS is presented on page 12.
B&B TOOLS AB's Annual General Meeting for 2010 will be held on Wednesday, 25 August 2010, at 4:30 p.m. at Näringslivets Hus, Storgatan 19, Stockholm.
Notification of attendance at the Annual General Meeting should be made not later than 3:00 p.m. today, 19 August 2010 to B&B TOOLS AB, Box 10024, SE-100 55 Stockholm, telephone +46 8 660 10 30, fax +46 8 660 58 70, [email protected] or via Internet at www.bb.se.
Interim Report, 1 April – 30 September 2010 will be published on 12 November 2010. Interim Report, 1 April – 31 December 2010 will be published on 16 February 2011. Financial Report, 1 April 2010 – 31 March 2011 will be published on 12 May 2011.
This document is in all respects a translation of the Swedish original Interim Report. In the event of any differences between this translation and the Swedish original, the latter shall prevail.
| REVENUE | 3 months | |||
|---|---|---|---|---|
| MSEK | Apr – Jun 2010 |
Apr – Jun 2009 |
Rolling 12 months |
2009/ 2010 |
| Markets | 1,349 | 1,339 | 5,121 | 5,111 |
| Solutions | 937 | 923 | 3,638 | 3,624 |
| Group-wide | 21 | 22 | 94 | 95 |
| Eliminations | –322 | –293 | –1,211 | –1,182 |
| Total | 1,985 | 1,991 | 7,642 | 7,648 |
| REVENUE BY QUARTER | 2010/2011 | 2009/2010 | |||||
|---|---|---|---|---|---|---|---|
| MSEK | Q1 | Q4 | Q3 | Q2 | Q1 | ||
| Markets | 1,349 | 1,243 | 1,345 | 1,184 | 1,339 | ||
| Solutions | 937 | 891 | 923 | 887 | 923 | ||
| Group-wide | 21 | 30 | 21 | 22 | 22 | ||
| Eliminations | –322 | –322 | –304 | –263 | –293 | ||
| Total | 1,985 | 1,842 | 1,985 | 1,830 | 1,991 |
| OPERATING PROFIT/LOSS | 3 months | Full-year | ||||
|---|---|---|---|---|---|---|
| MSEK | Apr – Jun 2010 |
Apr – Jun 2009 |
Rolling 12 months |
2009/ 2010 |
||
| Markets | 42 | 23 | 99 | 80 | ||
| Solutions | 40 | 28 | 188 | 176 | ||
| Group-wide | –6 | –2 | 5 | 9 | ||
| Eliminations | –1 | –1 | –4 | –4 | ||
| Total | 75 | 48 | 288 | 261 |
| OPERATING PROFIT/LOSS BY QUARTER | 2010/2011 | 2009/2010 | |||
|---|---|---|---|---|---|
| MSEK | Q1 | Q4 | Q3 | Q2 | Q1 |
| Markets | 42 | 2 | 30 | 25 | 23 |
| Solutions | 40 | 51 | 47 | 50 | 28 |
| Group-wide | –6 | 12 | 0 | –1 | –2 |
| Eliminations | –1 | –3 | 3 | –3 | –1 |
| Total | 75 | 62 | 80 | 71 | 48 |
1 Comparative data have been adjusted for internal corporate transfers.
| INCOME STATEMENT | 3 months | Full-year | ||
|---|---|---|---|---|
| MSEK | Apr – Jun 2010 |
Apr – Jun 2009 |
Rolling 12 months |
2009/ 2010 |
| Revenue | 1,985 | 1,991 | 7,642 | 7,648 |
| Shares in profit of associated companies | 0 | 0 | 1 | 1 |
| Other operating income | 1 | 1 | 5 | 5 |
| Total operating revenue | 1,986 | 1,992 | 7,648 | 7,654 |
| Goods for resale | –1,177 | –1,218 | –4,578 | –4,619 |
| Personnel costs | –434 | –435 | –1,666 | –1,667 |
| Depreciation, amortisation, impairment losses | ||||
| and reversal of impairment losses | –17 | –17 | –69 | –69 |
| Other operating expense | –283 | –274 | –1,047 | –1,038 |
| Total operating expense Operating profit |
–1,911 75 |
–1,944 48 |
–7,360 288 |
–7,393 261 |
| Financial income and expense | –15 | –16 | –67 | –68 |
| Profit after net financial items | 60 | 32 | 221 | 193 |
| Taxes | –17 | –9 | –67 | –59 |
| Profit for the period | 43 | 23 | 154 | 134 |
| Of which attributable to: Parent Company shareholders Minority interest |
43 0 |
23 0 |
154 0 |
134 0 |
| Earnings per share*, SEK | ||||
| - before dilution | 1.55 | 0.80 | 5.50 | 4.80 |
| - after dilution | 1.55 | 0.80 | 5.50 | 4.80 |
| Proposed dividend per share, SEK | 2.50 |
* Calculated on the basis of shareholders' proportion of profit.
| STATEMENT OF COMPREHENSIVE INCOME | Full-year | |||
|---|---|---|---|---|
| MSEK | Apr – Jun 2010 |
Apr – Jun 2009 |
Rolling 12 months |
2009/ 2010 |
| Profit for the period | 43 | 23 | 154 | 134 |
| Other comprehensive income for the period | ||||
| Translation differences | –8 | –14 | –53 | –59 |
| Translation differences in minority interest | 0 | 0 | 0 | 0 |
| Effects of hedge accounting | –2 | 9 | 0 | 11 |
| Taxes attributable to other comprehensive income |
2 | 2 | 6 | 6 |
| Comprehensive income for the period | 35 | 20 | 107 | 92 |
| Of which attributable to: Parent Company shareholders Minority interest |
35 0 |
20 0 |
107 0 |
92 0 |
| BALANCE SHEET MSEK |
30 Jun 2010 | 30 Jun 2009 | 31 Mar 2010 |
|---|---|---|---|
| Assets | |||
| Intangible non-current assets | 1,848 | 1,907 | 1,857 |
| Tangible non-current assets | 494 | 537 | 505 |
| Financial non-current assets | 126 | 134 | 124 |
| Inventories | 1,431 | 1,666 | 1,458 |
| Current receivables | 1,483 | 1,438 | 1,340 |
| Cash and cash equivalents | 88 | 222 | 209 |
| Total assets | 5,470 | 5,904 | 5,493 |
| Equity and liabilities | |||
| Equity | 1,806 | 1,779 | 1,769 |
| Non-current liabilities | 1,922 | 1,956 | 1,918 |
| Current liabilities Total equity and liabilities |
1,742 5,470 |
2,169 5,904 |
1,806 5,493 |
| Specification: | |||
| Equity | 1,806 | 1,779 | 1,769 |
| Interest-bearing liabilities | 1,950 | 2,168 | 1,952 |
| Non-interest-bearing liabilities | 1,714 | 1,957 | 1,772 |
| Total equity and liabilities | 5,470 | 5,904 | 5,493 |
| CASH-FLOW STATEMENT | 3 months | Full-year | ||
|---|---|---|---|---|
| Apr – Jun | Apr – Jun | Rolling | 2009/ | |
| MSEK | 2010 | 2009 | 12 months | 2010 |
| Operating activities before changes in working capital |
45 | 11 | 61 | 27 |
| Changes in working capital | –116 | 54 | 171 | 341 |
| Cash flow from operating activities | –71 | 65 | 232 | 368 |
| Acquisition of intangible and tangible non-current assets |
–7 | –11 | –38 | –42 |
| Sales of intangible and tangible non-current assets |
2 | 0 | 7 | 5 |
| Acquisition of subsidiaries and other business units |
–43 | –31 | –58 | –46 |
| Sales of subsidiaries and other business units | – | 0 | 3 | 3 |
| Cash flow before financing | –119 | 23 | 146 | 288 |
| Financing activities | –3 | –8 | –278 | –283 |
| Cash flow for the period | –122 | 15 | –132 | 5 |
| Cash and cash equivalents at the beginning of the period |
209 | 209 | 222 | 209 |
| Exchange-rate difference in cash and cash equivalents |
1 | –2 | –2 | –5 |
| Cash and cash equivalents at the end of the period |
88 | 222 | 88 | 209 |
| STATEMENT OF CHANGES IN EQUITY | |||
|---|---|---|---|
| MSEK | 30 Jun 2010 | 30 Jun 2009 | 31 Mar 2010 |
| Opening equity | 1,769 | 1,757 | 1,757 |
| of which minority interest | 0 | 18 | 18 |
| Dividend, Parent Company shareholders | – | – | –70 |
| Dividend, minority interest | – | – | 0 |
| Sale of treasury shares upon redemption of personnel options | 2 | 3 | 8 |
| Change in minority interest due to acquisitions | – | –1 | –18 |
| Comprehensive income for the period attributable to: | |||
| Parent Company shareholders | 35 | 20 | 92 |
| Minority interest | 0 | 0 | 0 |
| Closing equity | 1,806 | 1,779 | 1,769 |
| of which minority interest | 0 | 17 | 0 |
| OPERATING SEGMENT |
External revenue | Revenue from internal customers |
Total revenue | Operating profit | ||||
|---|---|---|---|---|---|---|---|---|
| MSEK | Apr-Jun 2010 |
Apr-Jun 2009 |
Apr-Jun 2010 |
Apr-Jun 2009 |
Apr-Jun 2010 |
Apr-Jun 2009 |
Apr-Jun 2010 |
Apr-Jun 2009 |
| Markets | 1,329 | 1,322 | 20 | 17 | 1,349 | 1,339 | 42 | 23 |
| Solutions | 656 | 669 | 281 | 254 | 937 | 923 | 40 | 28 |
| Total operating segment |
1,985 | 1,991 | 301 | 271 | 2,286 | 2,262 | 82 | 51 |
| Group-wide | – | – | 21 | 22 | 21 | 22 | –6 | –2 |
| Eliminations | – | – | –322 | –293 | –322 | –293 | –1 | –1 |
| Group | 1,985 | 1,991 | 0 | 0 | 1,985 | 1,991 | 75 | 48 |
The Group's operating segments comprise the operating areas of B&B TOOLS Markets and B&B TOOLS Solutions.
The operating areas are the same as B&B TOOLS' organisational structure as used by Group management and the Board of Directors to monitor operations.
The B&B TOOLS Markets operating area comprises the Group's reseller operations in Sweden, Norway and Finland (which operate within the framework of TOOLS) and TOOLS Momentum, which together form the Group's market channel for industrial consumables and industrial components for Nordic industry.
The B&B TOOLS Solutions operating area comprises the Group's Product Companies, which conduct operations in various product areas and provide TOOLS and other market channels with industrial consumables and related services, and the Group-wide IT, Supply Chain, Complete Product and Central Purchasing functions.
Group-wide operations include the Parent Company, the Group's joint salary centre and the Group's properties in Alingsås and Ulricehamn, where the Group's service, logistics and IT operations are concentrated. The Parent Company comprises Group management and central finance, information, legal and HR functions.
Intra-Group pricing between the operating segments occurs on market conditions.
There are no assets in the operating segments that are affected by material changes compared with the most recent Annual Report. The accounting policies are the same as those applied in the consolidated financial statements.
| KEY PER-SHARE DATA2 | 3 months | Full-year | |||
|---|---|---|---|---|---|
| SEK | Apr – Jun 2010 |
Apr – Jun 2009 |
Rolling 12 months |
2009/ 2010 |
|
| Earnings before dilution* | 1.55 | 0.80 | 5.50 | 4.80 | |
| Earnings after dilution* | 1.55 | 0.80 | 5.50 | 4.80 | |
| Equity, at the end of the period^ | 64.30 | 63.05 | 63.05 | ||
| Equity after dilution, at the end of the period^ | 64.30 | 62.95 | 63.00 | ||
| NUMBER OF SHARES OUTSTANDING IN THOUSANDS |
|||||
| Number of shares outstanding before dilution | 28,096 | 27,948 | 28,056 | ||
| Weighted number of shares outstanding before dilution |
28,073 | 27,898 | 27,993 | 27,949 | |
| Weighted number of shares outstanding after dilution |
28,083 | 27,939 | 28,004 | 27,965 |
* Calculated on the basis of shareholders' proportion of profit.
^ Calculated on the basis of shareholders' proportion of equity.
2 There existed no dilution effect based on outstanding call options programmes as of 30 June 2010.
| INCOME STATEMENT | 3 months | Full-year | |||
|---|---|---|---|---|---|
| MSEK | Apr – Jun 2010 |
Apr – Jun 2009 |
Rolling 12 months |
2009/ 2010 |
|
| Revenue Other operating income |
15 – |
14 – |
58 – |
57 – |
|
| Total operating revenue | 15 | 14 | 58 | 57 | |
| Operating expense | –20 | –19 | –66 | –65 | |
| Operating loss | –5 | –5 | –8 | –8 | |
| Financial income and expense | 5 | 10 | 145 | 150 | |
| Profit after net financial items | 0 | 5 | 137 | 142 | |
| Appropriations | – | – | 8 | 8 | |
| Profit before taxes | 0 | 5 | 145 | 150 | |
| Taxes | 0 | –2 | –16 | –18 | |
| Profit for the period | 0 | 3 | 129 | 132 |
| BALANCE SHEET | |||
|---|---|---|---|
| MSEK Assets |
30 Jun 2010 | 30 Jun 2009 | 31 Mar 2010 |
| Intangible non-current assets | 3 | 4 | 3 |
| Tangible non-current assets | 4 | 4 | 4 |
| Financial non-current assets | 3,697 | 3,749 | 3,710 |
| Current receivables | 110 | 274 | 96 |
| Cash and cash equivalents | 0 | 59 | 117 |
| Total assets | 3,814 | 4,090 | 3,930 |
| Equity and liabilities | |||
| Equity | 1,059 | 1,022 | 1,057 |
| Untaxed reserves | 206 | 214 | 206 |
| Provisions | 53 | 54 | 53 |
| Non-current liabilities | 1,436 | 1,405 | 1,425 |
| Current liabilities | 1,060 | 1,395 | 1,189 |
| Total equity, provisions and liabilities | 3,814 | 4,090 | 3,930 |
| Pledged assets and contingent liabilities, MSEK | |||
| Pledged assets | – | – | – |
| Contingent liabilities | 277 | 261 | 274 |
| OPERATING | Revenue, MSEK | Operating profit/loss, MSEK | Operating margin, % | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AREA | 3 months ending | Full-year | 3 months ending | Full-year | 3 months ending | Full-year | ||||||
| 30 Jun | 30 Jun | Rolling | 2009/ | 30 Jun | 30 Jun | Rolling | 2009/ | 30 Jun | 30 Jun | Rolling | 2009/ | |
| 2010 | 2009 | 12 months | 2010 | 2010 | 2009 | 12 months | 2010 | 2010 | 2009 | 12 months | 2010 | |
| GROUP | 1,985 | 1,991 | 7,642 | 7,648 | 75 | 48 | 288 | 261 | 3.8 | 2.4 | 3.8 | 3.4 |
| MARKETS | 1,349 | 1,339 | 5,121 | 5,111 | 42 | 23 | 99 | 80 | 3.1 | 1.7 | 1.9 | 1.6 |
| Of which | ||||||||||||
| Sweden | 565 | 528 | 2,109 | 2,072 | 6 | –28 | –2 | –36 | 1.1 | –5.3 | –0.1 | –1.7 |
| Norway | 361 | 412 | 1,443 | 1,494 | 6 | 25 | 10 | 29 | 1.7 | 6.1 | 0.7 | 1.9 |
| Finland | 205 | 206 | 767 | 768 | 2 | 3 | –3 | –2 | 1.0 | 1.5 | –0.4 | –0.3 |
| TOOLS Momen | ||||||||||||
| tum | 227 | 200 | 834 | 807 | 26 | 20 | 86 | 80 | 11.5 | 10.0 | 10.3 | 9.9 |
| SOLUTIONS | 937 | 923 | 3,638 | 3,624 | 40 | 28 | 188 | 176 | 4.3 | 3.0 | 5.2 | 4.9 |
| Of which Product Co's |
920 | 907 | 3,569 | 3,556 | 48 | 37 | 226 | 215 | 5.2 | 4.1 | 6.3 | 6.0 |
| KEY FINANCIAL RATIOS | ||||
|---|---|---|---|---|
| 30 Jun 2010 | 12 months ending 31 Mar 2010 |
31 Mar 2009 | 31 Mar 2008 | |
| Revenue, MSEK | 7,642 | 7,648 | 9,325 | 9,133 |
| Operating profit, MSEK | 288 | 261 | 511 | 674 |
| Profit after net financial items, MSEK | 221 | 193 | 403 | 600 |
| Profit for the period, MSEK | 154 | 134 | 291 | 432 |
| Operating margin | 3.8% | 3.4% | 5.5% | 7.4% |
| Profit margin | 2.9% | 2.5% | 4.3% | 6.6% |
| Return on capital employed | 8% | 7% | 14% | 23% |
| Return on equity | 9% | 8% | 17% | 31% |
| P/WC (Profit/Working capital) | 16% | 14% | 23% | 37% |
| Financial net loan liability (closing | ||||
| balance), MSEK | 1,852 | 1,734 | 1,959 | 1,769 |
| Equity (closing balance), MSEK | 1,806 | 1,769 | 1,757 | 1,571 |
| Equity/assets ratio | 33% | 32% | 29% | 27% |
| Net debt/equity ratio | 1.03 | 0.98 | 1.11 | 1.13 |
| Number of employees at the end of the | ||||
| period | 2,820 | 2,844 | 3,183 | 3,315 |
| KEY PER-SHARE DATA | 12 months ending | |||||||
|---|---|---|---|---|---|---|---|---|
| 30 Jun 2010 | 31 Mar 2010 | 31 Mar 2009 | 31 Mar 2008 | |||||
| Earnings, SEK | 5.50 | 4.80 | 10.20 | 15.10 | ||||
| Earnings after dilution, SEK | 5.50 | 4.80 | 10.20 | 15.00 | ||||
| Cash flow, SEK | 8.30 | 13.20 | 13.50 | 12.90 | ||||
| Equity, SEK | 64.30 | 63.05 | 62.35 | 55.60 | ||||
| Share price, SEK | 96.50 | 105.75 | 44.20 | 173.50 |
The information in this report is such that it shall be disclosed by B&B TOOLS in accordance with the Swedish Securities Market Act, the Financial Instruments Trading Act and the requirements established in regulations for issuers. The information was disclosed on 19 August 2010 at 10:30 a.m.
B&B TOOLS AB (publ)
Mail address PO Box 10024 SE-100 55 Stockholm Sweden Visit Karlavägen 76 Stockholm Tel +46 8 660 10 30 Fax +46 8 660 58 70 Org No 556034-8590 Reg office Stockholm Web www.bb.se
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