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Bergman & Beving

Earnings Release Aug 19, 2009

3008_10-q_2009-08-19_88295c0f-3ce3-45b9-94ef-9b4c96f20252.pdf

Earnings Release

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Interim Report 1 April – 30 June 2009 (3 months)

Revenue and profit

  • Revenue amounted to MSEK 1,991 (2,653).
  • Operating profit amounted to MSEK 48 (213).
  • Profit after net financial items amounted to MSEK 32 (188).
  • Profit after taxes totalled MSEK 23 (136).
  • Earnings per share amounted to SEK 0.80 (4.80).

Significant events

  • Continued decline in demand for industrial consumables Revenue for comparable units fell by 27 percent during the reporting period.
  • New operating area B&B TOOLS Solutions

In a bid to enhance coordination and streamlining and to strengthen development and purchasing potential for the Group's offerings (of products and services), the Group's Product Companies are being coordinated with the Group-wide IT, supply chain and central purchasing functions to form a new operating area – B&B TOOLS Solutions.

3 months ending 12 months ending
30 Jun. 30 Jun. Change 30 Jun. 30 Jun. Change
2009 2008 2009 2008
Revenue, MSEK 1,991 2,653 -25% 8,663 9,634 -10%
Operating profit, MSEK 48 213 -77% 346 752 -54%
Profit after net financial items, MSEK 32 188 -83% 247 665 -63%
Profit for the period, MSEK 23 136 -83% 178 477 -63%
Earnings per share, SEK 0.80 4.80 -83% 6.25 16.70 -63%
Operating margin 2.4% 8.0% 4.0% 7.8%
Profit margin 1.6% 7.1% 2.9% 6.9%
Return on equity 10% 31%
Equity per share, SEK 63.05 61.10 +3%
Equity/assets ratio 30% 28%
Number of employees at the end of the
period 3,056 3,323 -8%

B&B TOOLS in summary

UNITED FOR INDUSTRIAL EFFICIENCY

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 8.7 billion and approximately 2,900 employees.

PRESIDENT'S STATEMENT

The Group's revenue for comparable units fell by 27 percent during the quarter as a result of the weak economy. The near future will continue to be dominated by uncertainty, although we are now noting more signs of stabilisation then we did a few months ago.

Previously planned cost-reduction programmes have essentially been fully implemented and have now started to generate tangible effects. Expenses for the quarter for comparable units in local currency declined by 15 percent compared with the year-earlier period. Furthermore, effects from cost-saving activities that were decided on and implemented during the quarter will impact earnings in the future. If all resolved and implemented activities had generated a full impact from the beginning of the financial year, earnings for the quarter would have been approximately MSEK 30 higher.

In addition to cost adjustments combined with customer proximity, major focus is currently being directed toward reducing the Group's funds tied up in working capital.

Stefan Wigren

President & CEO

PROFIT AND REVENUE

Profit

Operating profit for the B&B TOOLS Group amounted to MSEK 48 (213) during the first quarter of the financial year. Operating profit was charged with depreciation and impairment losses of tangible non-current assets amounting to MSEK -14 (-14) and amortisation and impairment losses of intangible non-current assets amounting to MSEK -3 (-1).

The operating margin for the period declined by 5.6 percentage points to 2.4 percent (8.0).

Profit after net financial items amounted to MSEK 32 (188). Net financial items amounted to MSEK -16 (-25). The profit margin declined by 5.5 percentage points to 1.6 percent (7.1).

Exchange-rate translation effects had a net impact of MSEK +3 (+2) on reported operating profit for the period.

Profit after taxes totalled MSEK 23 (136). Earnings per share amounted to SEK 0.80 (4.80).

Revenue

Revenue declined 25 percent to MSEK 1,991 (2,653). Acquisitions where the underlying transaction closed during the 2008/2009 financial year had a positive impact on revenue of MSEK 45 during the reporting period. Exchange-rate translation effects had a positive impact of MSEK 57 (27) on revenue. Comparable figures for the preceding year include revenue pertaining to businesses sold amounting to MSEK 51.

Revenue for comparable units declined by 27 percent during the reporting period.

OPERATIONS

The sharp economic downturn in Nordic industry during the 2008/2009 financial year continued during the beginning of 2009/2010. Many of the Group's customers continued to reduce their production operations and issue layoff notices to employees,

resulting in a sustained marked impact on demand for industrial consumables. The businesses in the B&B TOOLS Group have worked intensively since the autumn of 2008 on measures aimed at adjusting expenses in relation to reduced revenue. The cost-savings programmes have essentially been implemented according to plan.

Given the information currently available, it is not possible to draw any conclusions about whether the recession will continue in the short term or whether the demand trend will stabilise. Accordingly, the near future will continue to be characterised by uncertainty.

New operating area – B&B TOOLS Solutions

In a bid to enhance coordination and streamlining and to strengthen development and purchasing potential for the Group's offerings (of products and services), the Group's Product Companies are being coordinated with the Group-wide IT, supply chain and central purchasing functions to form a new operating area – B&B TOOLS Solutions ("Solutions").

Solutions is recognised as a separate operating area from this Interim Report as described below.

GROUP 3 months ending Full-year
MSEK 30 Jun. 2009 30 Jun. 2008 Rolling 12 months 2008/2009
Revenue 1,991 2,653 8,663 9,325
Operating profit 48 213 346 511
Operating margin, % 2.4 8.0 4.0 5.5

B&B TOOLS Markets ("TOOLS")

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. 2009 30 Jun. 2008 Rolling 12 months 2008/2009
Revenue 1,339 1,765 5,828 6,254
Operating profit 23 116 121 214
Operating margin, % 1.7 6.6 2.1 3.4

Demand for industrial consumables remained weak during the first quarter of the financial year. Markets' sales for comparable units in Sweden and Finland, measured in local currency, declined by 36 percent during the quarter, while Norway reported a 15-percent decrease in sales. TOOLS Momentum's sales for comparable units fell by 15 percent.

The decrease in sales led to weaker profit for Markets, particularly in Sweden and Finland. Activities to adjust expenses to lower sales levels continue to be implemented.

Refer also to the specification of Markets in appendix A on page 13.

B&B TOOLS Solutions

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. 2009 30 Jun. 2008 Rolling 12 months 2008/2009
Revenue 925 1,203 4,020 4,298
Operating profit 28 103 239 314
Operating margin, % 3.0 8.6 5.9 7.3

During the first quarter of the financial year, Solutions was adversely impacted by continued lower demand for industrial consumables from both the Group's own market channels and external channels. Solutions' revenue, measured in local currency, fell 25 percent during the reporting period.

Work on implementing cost-adjustment measures in Solutions continued during the quarter.

Refer also to the specification of Solutions in appendix A on page 13.

Group-wide and eliminations

Parent Company

The Parent Company's revenue amounted to MSEK 14 (15) and profit after net financial items totalled MSEK 5 (11). This profit does not include any intra-Group dividends or similar items.

Eliminations

Eliminations for intra-Group inventory gains had an adverse effect of MSEK -1 (-7) on profit during the period.

CORPORATE ACQUISITIONS

No corporate acquisitions took place during the reporting period.

PROFITABILITY

The return on consolidated capital employed for the most recent 12-month period was 9 percent, and the return on equity was 10 percent, compared with 24 percent and 31 percent, respectively, for the year-earlier period.

CASH FLOW, CAPITAL EXPENDITURES AND FINANCIAL POSITION

Cash flow before changes in working capital for the period amounted to MSEK 11 and includes non-recurring items amounting to a total of MSEK 15 which were recorded against the provision for resolved non-recurring costs that was established on 31 March 2009. Funds tied up in working capital declined by MSEK 54. Thus, cash flow from operating activities during the reporting period totalled MSEK 65 (84). Cash flow was negatively affected in a net amount of MSEK -11 by acquisitions and sales of intangible and tangible noncurrent assets, while acquisitions and sales of subsidiaries and other business units had a negative impact of MSEK -31, net, on cash flow.

The Group's financial net loan liability at the end of the period totalled MSEK 1,936 MSEK (1,854). Interestbearing liabilities at the end of the period amounted to MSEK 2,168, including pension commitments totalling MSEK 364. Liabilities to credit institutions totalled MSEK 1,804, of which MSEK 772 had a maturity period of more than three years and MSEK 437 had a maturity period of less than one year. Cash and cash equivalents, including unutilised granted credit facilities, amounted to a combined total of MSEK 722.

Of these liabilities to credit institutions, the Group has hedged the interest rates for a total of MSEK 1,217 through interest swaps (MSEK 417) and interest caps (MSEK 800). Excluding the bank's margins, the interest rate for the swaps amounts to an average of 4.13 percent and the interest caps take effect at interest rates (STIBOR 90 day) ranging from 5.50 to 6.00 percent. The maturity period for interest swaps and interest caps is two to six years. Non-interest rate-hedged liabilities have variable interest rates, mainly linked to the STIBOR 90-day interest rate.

At the end of the reporting period, the equity/assets ratio was 30 percent, compared with 29 percent at the beginning of the financial year.

Equity per share was SEK 63.05 at the end of the reporting period, compared with SEK 62.35 at the beginning of the financial year. Calculated on the basis of the number of shares after dilution, equity per share was SEK 62.95 at the end of the period, compared with SEK 62.10 at the beginning of the financial year.

EMPLOYEES

At the end of the reporting period, the number of employees in the Group amounted to 3,056, compared with 3,183 at the beginning of the year. Taking into consideration those individuals whose employment has been terminated but who had not yet completed their employment as of 30 June 2009, the number of employees at end of the reporting period totalled 2,913.

SHARE STRUCTURE AND REPURCHASE OF OWN SHARES

Share capital at the end of the reporting period totalled MSEK 56.9. The distribution by classes of shares is as follows:

CLASSES OF SHARES AS OF 30 JUNE 2009
Class A shares 1,084,812
Class B shares 27,351,604
Total number of shares before repurchasing 28,436,416
Less: Repurchased class B shares -488,500
Total number of shares after repurchasing 27,947,916

As of 31 March 2009, the number of class B shares held in treasury totalled 538,500. In June 2009, a total of 50,000 class B treasury shares were conveyed in conjunction with the redemption of personnel options. Thus, at the end of the reporting period, as of 30 June 2009, the holdings of class B treasury shares amounted to 488,500, corresponding to 1.7 percent of the total number of shares and 1.3 percent of the total number of votes.

Of the repurchased class B shares, 148,500 are reserved to secure the Company's obligations under the personnel options programme issued by B&B TOOLS AB in April 2002. The Company's acquisition costs per share to secure this personnel options programme amounted to SEK 41.60. The redemption price per personnel option is SEK 52.00.

Of the repurchased class B shares, 250,000 are reserved to secure the Company's obligations under the call options programme issued by B&B TOOLS AB in September 2006. The Company's acquisition costs per share to secure this call options programme amounted to SEK 155.00. The redemption price per call option in this programme is SEK 159.00.

The remaining 90,000 repurchased class B shares are reserved to secure the Company's obligations under the call options programme issued by B&B TOOLS AB in September 2007. The Company's acquisition costs per share to secure this call options programme amounted to SEK 206.30. The redemption price per call option in this programme is SEK 228.00.

There have been no changes in the holdings of own shares after the end of the reporting period.

Proposal regarding the adoption of a renewed authorisation for the repurchase of own shares The Board of Directors of B&B TOOLS AB has decided to propose that the Annual General Meeting to be held on 27 August 2009 resolve to renew the Board's authorisation to repurchase own shares.

ACCOUNTING POLICIES

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 2.2 Accounting for Legal Entities. The same accounting policies and bases of judgement as in the Annual Report for 2008/2009 have been applied, with the exception of certain new standards and interpretations that were applied from 1 April 2009 as described below.

Revised IAS 1 Presentation of Financial Statements entails that items recognised directly in equity that are not attributable to transactions with owners are now recognised in a separate statement after the income statement, under the heading "Statement of comprehensive income." B&B TOOLS has chosen to present other comprehensive income as a separate statement. The statement of changes in equity presents the comprehensive income for the period and transactions with the owners. Corresponding reclassifications have been made in comparative data. The introduction of IFRS 8 Operating Segments has not resulted in any changes in B&B TOOLS' identification of the Group's segments, which are reported on page 10. New standards and statements other than the changes to IAS 1 and the introduction of IFRS 8 have not had any material effects on B&B TOOLS' financial statements.

RISKS AND UNCERTAINTY FACTORS

Apart from the continued uncertainty 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 42-43 of the B&B TOOLS Annual Report 2008/2009.

Stockholm, 19 August 2009

Stefan Wigren President & CEO

This report has not been subject to special review by the Company's auditors.

For further information, please contact

Stefan Wigren, President & CEO, tel. +46 8 660 10 30 Mats Karlqvist, Vice President - Investor Relations, tel. +46 8 442 59 04 or +46 70 660 31 32

Comprehensive contact information for B&B TOOLS is presented below.

The Annual General Meeting 2009

B&B TOOLS AB's Annual General Meeting for 2009 will be held on Thursday, 27 August 2009, at 4:30 p.m. at Näringslivets Hus, Storgatan 19, Stockholm.

Notification of attendance at the Annual General Meeting should be made 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, not later than 3:00 p.m. on Friday, 21 August 2009.

Dates for forthcoming financial information

Interim Report, 1 April – 30 September 2009 will be published on 12 November 2009. Interim Report, 1 April – 31 December 2009 will be published on 18 February 2010. Financial Report, 1 April 2009 – 31 March 2010 will be published on 18 May 2010.

Visit www.bb.se to order financial reports and press releases.

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.

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 Corp. Reg. No. 556034-8590 Registered office Stockholm Web www.bb.se

REPORTING BY OPERATING AREA1

REVENUE 3 months
MSEK Apr. – Jun.
2009
Apr. – Jun.
2008
Rolling
12 months
2008/
2009
Markets 1,339 1,765 5,828 6,254
Solutions 925 1,203 4,020 4,298
Group-wide 18 18 71 71
Eliminations -291 -333 -1,256 -1,298
Total 1,991 2,653 8,663 9,325
REVENUE BY QUARTER 2009/2010 2008/2009
MSEK Q 1 Q 4 Q 3 Q 2 Q 1
Markets 1,339 1,379 1,599 1,511 1,765
Solutions 925 938 1,072 1,085 1,203
Group-wide 18 16 18 19 18
Eliminations -291 -291 -342 -332 -333
Total 1,991 2,042 2,347 2,283 2,653
OPERATING PROFIT/LOSS 3 months
Full
year
MSEK Apr. – Jun.
2009
Apr. – Jun.
2008
Rolling
12 months
2008/
2009
Markets 23 116 121 214
Solutions 28 103 239 314
Group-wide -2 1 -1 2
Eliminations -1 -7 -13 -19
Total 48 213 346 511
OPERATING PROFIT/LOSS BY QUARTER 2009/2010 2008/2009
MSEK Q 1 Q 4 Q 3 Q 2 Q 1
Markets 23 -30 51 77 116
Solutions 28 56 60 95 103
Group-wide -2 0 2 -1 1
Eliminations -1 -5 -3 -4 -7
Total 48 21 110 167 213

1 Comparative data have been adjusted for internal corporate transfers.

GROUP SUMMARY

INCOME STATEMENT 3 months Full-year
MSEK Apr. – Jun.
2009
Apr. – Jun.
2008
Rolling
12 months
2008/
2009
Revenue 1,991 2,653 8,663 9,325
Shares in profit/loss of associated companies 0 0 1 1
Other operating income 1 4 36 39
Total operating revenue 1,992 2,657 8,700 9,365
Goods for resale -1,245 -1,651 -5,338 -5,744
Personnel costs -435 -459 -1,835 -1,859
Depreciation, amortisation, impairment losses
and reversal of impairment losses -17 -15 -66 -64
Other operating expense -247 -319 -1,115 -1,187
Total operating expense
Operating profit
-1,944
48
-2,444
213
-8,354
346
-8,854
511
Financial income and expense -16 -25 -99 -108
Profit after net financial items 32 188 247 403
Taxes -9 -52 -69 -112
Profit for the period 23 136 178 291
Of which attributable to:
Parent Company shareholders
23 134 174 285
Minority interest 0 2 4 6
Earnings per share*, SEK
- before dilution
0.80 4.80 6.25 10.20
- after dilution 0.80 4.80 6.20 10.20
Proposed dividend per share, SEK 2.50

* Calculated on the basis of shareholders' proportion of profit.

STATEMENT OF COMPREHENSIVE INCOME 3 months Full-year
MSEK Apr. – Jun.
2009
Apr. – Jun.
2008
Rolling
12 months
2008/
2009
Profit for the period 23 136 178 291
Other comprehensive income for the period
Translation differences -14 12 63 89
Translation differences in minority interest 0 1 0 1
Effect of hedge accounting 9 14 -45 -40
Taxes attributable to other comprehensive
income
2 -7 2 -7
Comprehensive income for the period 20 156 198 334
Of which attributable to:
Parent Company shareholders
Minority interest
20
0
153
3
194
4
327
7
BALANCE SHEET
MSEK 30 Jun. 2009 30 Jun. 2008 31 Mar. 2009
Assets
Intangible non-current assets 1,907 1,808 1,913
Tangible non-current assets 537 517 545
Financial non-current assets 134 130 146
Inventories 1,666 1,715 1,768
Current receivables 1,438 1,718 1,439
Cash and cash equivalents 222 212 209
Total assets 5,904 6,100 6,020
Equity and liabilities
Equity 1,779 1,720 1,757
Non-current liabilities 1,956 2,013 1,993
Current liabilities 2,169 2,367 2,270
Total equity and liabilities 5,904 6,100 6,020
Specification:
Equity 1,779 1,720 1,757
Interest-bearing liabilities 2,168 2,098 2,179
Non-interest-bearing liabilities 1,957 2,282 2,084
Total equity and liabilities 5,904 6,100 6,020
CASH-FLOW STATEMENT 3 months Full-year
Apr. – Jun. Apr. – Jun. Rolling 2008/
MSEK 2009 2008 12 months 2009
Operating activities before changes in working
capital
11 164 309 462
Changes in working capital 54 -80 49 -85
Cash flow from operating activities 65 84 358 377
Acquisition of intangible and tangible non-current
assets
-11 -16 -55 -60
Sales of intangible and tangible non-current
assets
0 4 8 12
Acquisition of subsidiaries and other business
units
-31 -206 -161 -336
Sales of subsidiaries and other business units 0 39 9 48
Cash flow before financing 23 -95 159 41
Financing activities -8 79 -160 -73
Cash flow for the period 15 -16 -1 -32
Cash and cash equivalents at the beginning of the
period
209 226 212 226
Exchange-rate difference in cash and cash
equivalents
-2 2 11 15
Cash and cash equivalents at the end of the
period 222 212 222 209
STATEMENT OF CHANGES IN EQUITY
MSEK 30 Jun. 2009 30 Jun. 2008 31 Mar. 2009
Opening equity 1,757 1,571 1,571
of which minority interest 18 20 20
Dividend, Parent Company shareholders - - -139
Dividend, minority interest - - 0
Sale of treasury shares upon redemption of personnel options 3 - -
Changes in minority interest due to acquisitions -1 -7 -9
Comprehensive income for the period attributable to:
Parent Company shareholders 20 153 327
Minority interest 0 3 7
Closing equity 1,779 1,720 1,757
of which minority interest 17 16 18
OPERATING
SEGMENT
External revenue Revenue from
internal customers
Total revenue Operating profit
MSEK Apr-Jun
2009
Apr-Jun
2008
Apr-Jun
2009
Apr-Jun
2008
Apr-Jun
2009
Apr-Jun
2008
Apr-Jun
2009
Apr-Jun
2008
Markets 1,322 1,756 17 9 1,339 1,765 23 116
Solutions 669 897 256 306 925 1,203 28 103
Total operating
segment
1,991 2,653 273 315 2,264 2,968 51 219
Group-wide - - 18 18 18 18 -2 1
Eliminations - - -291 -333 -291 -333 -1 -7
Group 1,991 2,653 0 0 1,991 2,653 48 213

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's 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 selected market channels with industrial consumables and related services, and the Group-wide IT, supply chain, Complete Product and central purchasing 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.
2009
Apr. – Jun.
2008
Rolling
12 months
2008/
2009
Earnings before dilution* 0.80 4.80 6.25 10.20
Earnings after dilution* 0.80 4.80 6.20 10.20
Equity, at the end of the period^ 63.05 61.10 62.35
Equity after dilution, at the end of the period^ 62.95 60.75 62.10
NUMBER OF SHARES OUTSTANDING IN
THOUSANDS
Number of shares outstanding before dilution 27,948 27,898 27,898
Weighted number of shares outstanding before
dilution
27,898 27,898 27,898 27,898
Weighted number of shares outstanding after
dilution
27,939 28,054 27,955 28,002

* Calculated on the basis of shareholders' proportion of profit.

^ Calculated on the basis of shareholders' proportion of equity.

2 Dilution effect based on outstanding personnel and call options programmes: 3 months 0.1% Rolling 12 months 0.2% 2008/2009 0.4%

PARENT COMPANY SUMMARY

INCOME STATEMENT 3 months Full-year
MSEK Apr. – Jun.
2009
Apr. – Jun.
2008
Rolling
12 months
2008/
2009
Revenue 14 15 55 56
Other operating income - - - -
Total operating revenue 14 15 55 56
Operating expense -19 -16 -65 -62
Operating profit/loss -5 -1 -10 -6
Financial income and expense 10 12 368 370
Profit after net financial items 5 11 358 364
Appropriations - - -37 -37
Profit before taxes 5 11 321 327
Taxes -2 -3 -52 -53
Profit for the period 3 8 269 274
BALANCE SHEET
MSEK 30 Jun. 2009 30 Jun. 2008 31 Mar. 2009
Assets
Intangible non-current assets 4 - 3
Tangible non-current assets 4 3 4
Financial non-current assets 3,749 3,631 3,766
Current receivables 274 287 242
Cash and cash equivalents 59 0 51
Total assets 4,090 3,921 4,066
Equity and liabilities
Equity 1,022 949 1,012
Untaxed reserves 214 177 214
Provisions 54 56 54
Non-current liabilities 1,405 1,464 1,395
Current liabilities 1,395 1,275 1,391
Total equity, provisions and liabilities 4,090 3,921 4,066
Pledged assets and contingent liabilities, MSEK
Pledged assets - 1 -
Contingent liabilities 261 249 258

APPENDIX

A. SPECIFICATION – OPERATING AREAS: MARKETS AND SOLUTIONS

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
2009
30 Jun
2008
Rolling
12 months
2008/
2009
30 Jun
2009
30 Jun
2008
Rolling
12 months
2008/
2009
30 Jun
2009
30 Jun
2008
Rolling
12 months
2008/
2009
GROUP 1,991 2,653 8,663 9,325 48 213 346 511 2.4 8.0 4.0 5.5
MARKETS 1,339 1,765 5,828 6,254 23 116 121 214 1.7 6.6 2.1 3.4
Of which
Sweden3 528 824 2,368 2,664 -28 39 -68 -1 -5.3 4.7 -2.9 0.0
Norway3 412 448 1,699 1,735 25 40 101 116 6.1 8.9 5.9 6.7
Finland3 206 281 944 1,019 3 19 22 38 1.5 6.8 2.3 3.7
TOOLS
Momentum 200 223 845 868 20 21 85 86 10.0 9.4 10.1 9.9
SOLUTIONS
Of which
925 1,203 4,020 4,298 28 103 239 314 3.0 8.6 5.9 7.3
Product Co's 907 1,189 3,964 4,246 37 111 289 363 4.1 9.3 7.3 8.5

B. COMPILATION OF KEY FINANCIAL RATIOS

KEY FINANCIAL RATIOS
30 Jun. 2009 12 months ending
31 Mar. 2009
31 Mar. 2008 31 Mar. 2007
Revenue, MSEK 8,663 9,325 9,133 6,823
Operating profit, MSEK 346 511 674 443
Profit after net financial items, MSEK 247 403 600 407
Profit for the period, MSEK 178 291 432 290
Operating margin 4.0% 5.5% 7.4% 6.5%
Profit margin 2.9% 4.3% 6.6% 6.0%
Return on capital employed 9% 14% 23% 22%
Return on equity 10% 17% 31% 25%
P/WC (Profit/Working capital) 16% 23% 37% 35%
Financial net loan liability (closing
balance), MSEK 1,936 1,959 1,769 1,018
Equity (closing balance), MSEK 1,779 1,757 1,571 1,251
Equity/assets ratio 30% 29% 27% 28%
Net debt/equity ratio 1.09 1.11 1.13 0.81
Number of employees at the end of
the period 3,056 3,183 3,315 2,697
KEY PER-SHARE DATA 12 months ending
30 Jun. 2009 31 Mar. 2009 31 Mar. 2008 31 Mar. 2007
Earnings, SEK 6.25 10.20 15.10 10.35
Earnings after dilution, SEK 6.20 10.20 15.00 10.25
Cash flow, SEK 12.85 13.50 12.90 15.10
Equity, SEK 63.05 62.35 55.60 44.60
Share price, SEK 66.25 44.20 173.50 214.00

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 2009 at 10:45 a.m.

3 As of 1 April 2009, the recognition of revenue and operating profit includes the company in which chain operations are conducted. (In earlier years, only the revenue and profit of the Market Companies were recognised.) The comparative data above for the 2008/2009 financial year has been adjusted accordingly.

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