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July 20, 2007 | Interim Report
1st Half 2007
1st Half 2007 • Sales totaled SEK 4 090 m (4 123). Sales rose 3% after adjusting for currency exchange rates. Order intake totaled SEK 4 096 m (4 088). The increase amounted to 4% after adjusting for currency exchange rates • Earnings after tax totaled SEK 97 m (131). Earnings per share totaled SEK 4.38 (5.92). • Operating income totaled SEK 187 m (221). The operating margin was 4.6% (5.4). The decline in earnings is attributable mainly to the CVS Division, where operating income declined by SEK 40 m. • Return on capital employed (rolling 12 months) was 10.3 % (11.3). • Strong demand in Europe and deliveries of new products have largely offset the sales decline in North America. Despite the strong downturn in demand in the North American market, particularly in Q2, the Group's sales and earnings improved compared to the preceding quarter. • The acquisition of Runguang Hydraulics, one of the leading suppliers of hydraulics products to the Chinese construction market, has been completed. The company was consolidated effective 1 April 2007, and the integration process is proceeding according to plan. Q2 2007 • Sales totaled SEK 2 030 m (2 047). • Earnings before tax totaled SEK 78 m (74). • Operating income totaled SEK 97 m (98). Last year's earnings were encumbered by SEK 14 m million in restructuring costs. • Operating income increased with SEK 7 m compared with the previous quarter.

For additional information, please contact President and Group CEO Joakim Olsson, CFO Stefan Johansson or CIO Lena Olofsdotter, tel. 08-545 049 50.

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