Haldex Group (Continued Operations*) July-September 2011:
- Sales for Haldex Continued Operations amounted to SEK 1,017 m compared to SEK 977 m in the corresponding period last year. Adjusted for exchange rate fluctuations, sales increased 12% compared with the same period prior year. This is approximately at the same levels as in the second quarter.
- Operating income and operating margin for Haldex Continued Operations amounted to SEK 65 m (52) and 6.4% (5.3), respectively. Operating margins were sustained at the same level as the second quarter.
- Earnings after tax for Haldex Continued Operations amounted to SEK 35 m (-12). Earnings per share amounted to SEK 0.80 (-0.27).
- Haldex began consolidating operations in Brazil into one new site, versus three current locations. This provides an important platform for future growth.
- Haldex initiated supplies anti-lock braking systems to leading Chinese bus manufacturers.
Key ratios, Haldex Group (Continued Operations):
|Earnings after tax||118||12||35||-12|
|Earnings per share||2.57||0.16||0.80||-0.27|
1) Excluding restructuring costs.
President and CEO Jay C. Longbottom comments on the third quarter of 2011;
Sales performance in the third quarter reflected continued strength in OE production, especially in North America, and a stable aftermarket. Operating margins were sustained at the levels achieved during the second quarter. The focus on emerging markets was confirmed by sales growth, new ABS customers in China and the new Brazil site. Cash flow improved during the quarter, the company will continue to focus on reduction of working capital. Earnings development will be supported by operational performance and an improved cost structure.
*Haldex Continued Operations excludes the divested Hydraulics Systems Division and Traction Systems Division.
January – September 2011
Haldex Continued Operations:
- Sales for Haldex Continued Operations totaled SEK 2,995 m (2,835). Adjusted for exchange rate fluctuations, sales increased 16% compared with the same period prior year.
- Operating income and operating margin for Haldex Continued Operations amounted to SEK 186 m (125) and 6.2% (4.4) respectively.
- Earnings after tax for Haldex Continued Operations amounted to SEK 118 m (12). Earnings per share were SEK 2.57 m (0.16).
The Group in total (including Discontinued Operations**):
- Consolidated sales for Haldex Group totaled SEK 4,022 m (5,201). Operating income for Haldex Group totaled SEK 2,151 m (210). Earnings per share were SEK 46.44 (1.71).
- Following the AGM’s decision the proceeds from the sale of Traction Systems have been distributed to the shareholders via a share redemption. On July 28, 2011 the redemption amount of total SEK 1,326 m was settled.
** Discontinued Operations relates to Hydraulics Systems Division and Traction Systems Division.
Calendar - Future reporting dates
Year-end report January - December 2011 February 15, 2012
Interim report January – March 2012 April 24, 2012
Invitation to press conference or telephone conference
Media and analysts are invited to a press conference at which the report will be presented with comments by
Jay C. Longbottom, President and CEO, and Pramod Mistry, CFO.
Date/Time: The press conference will be held on Thursday, October 20 at 12:00 p.m. CET
Venue: Scandic Anglais, Humlegårdsgatan 23, Stockholm. A salad lunch will be served at 11:30 a.m. CET.
Participation: Please register to Maria Mattsson +46 (0)73 449 74 16
Internet: The press conference will be web casted live at:
The webcast will also be available afterwards and you can download the Interim Report and the presentation.
Telephone conference call: You can also participate with questions by telephone.
US: +1 866 458 40 87
UK: +44 203 043 24 36
SE: +46 8 505 598 53
Pramod Mistry, CFO
phone: +46 (0) 703 81 16 10
Kristina Brink, Corporate Communications Manager
phone: +46 (0) 705 90 91 40
Andreas Richter, SVP Corporate Communications
phone: +46 (0) 418 47 61 20
Haldex (www.haldex.com (http://www.haldex.com)) headquartered in Landskrona, Sweden, is a provider of proprietary and innovative solutions to the global commercial vehicle industry, with focus on products in vehicles that enhance safety, environment and vehicle dynamics. Haldex is listed on the Nasdaq OMX Stockholm Stock Exchange and had net sales of nearly 3.7 billion SEK in 2010. The number of employees amounts to about 2,200.
Haldex discloses the information in this Interim Report according to the Swedish Securities Market Act and/or the Swedish Financial Trading Act. The information was provided for public release at 8:30 CET on Thursday October 20, 2011.