· Net sales were MSEK 186.9 (203.5).
· Operating income was MSEK 10.7 (4.4) including non-recurring items of MSEK -1.2 (-1.4).
· The operating margin was 5.7 (2.2) percent.
· Profit after tax was MSEK 6.2 (0.8). Earnings per share were SEK 0.54 (0.07).
· Cash flow after investments was MSEK 29.5 (7.8).
CEO’s comment:
Demand on our main markets remained poor in the third quarter, and sales were down by 8.2 percent year on year. Our judgment is that we retained market shares.
The cost reduction work we’ve begun generated a saving of MSEK 7.8 in the quarter. More work on cost reduction is ongoing. Our operating income was MSEK 10.7 (4.4) despite lower volumes. The improvement is primarily explained by the above savings program and income in the corresponding period of 2011 being charged with a market valuation of brass contracts of MSEK -8.9.
Our activities for future product development are increasing and are consistent with our endeavor to retain the strongest product range on the market. We are also intensifying our marketing initiatives in all three geographical segments.
Reporting calendar:
- Year-end Report 27 February 2013
- Annual General Meeting 7 May 2013
- Interim Report Q1 2013 8 May 2013
- Interim Report Q2 2013 29 August 2013