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February 22, 2011 | Annual Financial Statement
  • Sales amounted to SEK 6,906 m (5,622). Adjusted for exchange-rate fluctuations and divestments, sales increased 34% compared with 2009.
  • Earnings after tax totaled SEK 131 m (75). Earnings per share amounted to SEK 2.87 (2.40). Earnings per share at December 31, 2009 were SEK 1.86, as calculated using the same number of shares outstanding as in 2010.
  • Adjusted* operating income and adjusted* operating margin increased sharply and totaled SEK 459 m (loss: 79) and 6.7% (minus: 1.5), respectively. In the fourth quarter, Haldex once again reported a strong margin, exceeding the Group target of 7%.
  • Cash flow after investments remained strong and amounted to SEK 252 m (847), thus giving the Group a strong financial position with a net debt of SEK 684 m (985).
  • On December 17, 2010, Haldex signed an agreement with BorgWarner, Inc. concerning the sale of the Traction Systems Division. The transaction was finalized after the close of the reporting period on January 31, 2011. The purchase consideration was SEK 1,425 m, which was paid in cash on a debt-free basis. The transaction generated a capital gain of about SEK 1,100 m.
  • For the 2010 fiscal year, the Board of Directors intend to propose to the annual shareholders meeting an ordinary dividend of SEK 3 per share and an extraordinary transfer corresponding to SEK 30 per share by a redemption of shares. This corresponds to a transfer to the shareholders totaling SEK 1,447 m.
  • Haldex’s Board of Directors has proposed a demerger of the company’s divisions, following which Haldex shareholders will hold shares in two separate companies instead of one. The aim is to present the motion to shareholders in conjunction with the Annual General Meeting that will take place on June 8, 2011 (announced July 16).

* Excluding Garphyttan Wire, restructuring costs, nonrecurring items and amortization of acquisition-related surplus values.  

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