• Sales amounted to SEK 5,622 m (8,403). Adjusted for currency-exchange fluctuations, sales declined 39%. The final quarter of 2009 was the first quarter during which sales had exceeded the preceding quarter’s level since the economic downturn started in mid-2008. • Earnings after tax amounted to SEK 75 m (loss: 43). Earnings per share amounted to SEK 2:40 (-1:25). • Operating income and operating margin amounted to SEK 155 m (92) and 2.8% (1.1), respectively. • The Group reported an adjusted* operating loss of SEK 79 m (income: 181) and an adjusted*operating margin* of minus 1.5% (plus 2.5). • Cash flow amounted to SEK 847 m (857), which combined with the new issue reduced net indebtedness to SEK 985 m (2,323). • The cost-reduction program, which generated savings of SEK 700 m, continued and included the planned combination of two plants in the US. • The new share issue implemented during the fourth quarter was subscribed for in full and contributed SEK 504 m to Haldex before deductions for issue expenses. • The divestment of Garphyttan Wire was completed on June 1, 2009. The selling price was SEK 827 m on a debt-free basis. The transaction gave rise to a capital gain of SEK 411 m. • Haldex secured its largest ever individual order, worth SEK 4.5 billion, from VW. The order pertains to AWD systems for VW’s new modular platform (disclosed in April). • Haldex’s strategic focus on satisfying and exceeding society’s ever stricter environmental requirements has been successful. A number of major contracts were secured for Haldex products and technologies for the next generation of diesel engines that satisfy more stringent environmental requirements. * Continuing operations, excluding restructuring costs, nonrecurring items and amortization of acquisition-related surplus value.
February 12, 2010 | Annual Financial StatementYear-end Report 2009