Haldex Group, April - June 2012
- Sales amounted to SEK 1,065 m compared to SEK 1,026 m in the corresponding period last year. Adjusted for exchange rate fluctuations, sales decreased 1% compared with the same period prior year.
- Operating income and operating margin excluding restructuring costs amounted to SEK 60 m (66) and 5.6% (6.4), respectively. Operating income and operating margin including restructuring costs amounted to SEK 26 m and 2.4% respectively.
- One-off expenses related to the cost reduction program amounted to SEK 34 m. Total expenses for the program is approximately SEK 60 m with annual savings of SEK 35-40 m.
- Cash-flow from operating activities was strong in the period amounting to SEK 33 m (-22).
- Earnings after tax amounted to SEK 7 m (45). Earnings per share amounted to SEK 0.14 (0.95).
- Haldex announced a new organizational structure to further reduce complexity and optimize the processes through the entire value chain and improve performance.
- Bo Annvik new President and CEO for Haldex from July 1.
Key ratios, Haldex Group
|Amounts in SEK m||Jan-June,
|Operating margin, % 1)||5.8||6.1||5.6||6.4|
|Operating margin, %||4.2||6.1||2.4||6.4|
|Earnings after tax||41||83||7||45|
|Earnings per share, SEK||0.86||1.77||0.14||0.95|
1)Excluding restructuring costs
President and CEO Bo Annvik comments on the second quarter of 2012;
“In the quarter Haldex experienced a stable sales performance in North America but a slightly weaker demand in Europe due to the economic uncertainty. Sales in Asia was also slightly down due to a softening in demand. Haldex delivered a strong cash flow in the quarter and the cost reduction program initiated in Q1 is proceeding according to plan and will continue into Q3. The recently announced new organizational structure to further reduce complexity and optimize the processes through the entire value chain and improve performance is being implemented in a good way.”
Q3: Interim report January – September November 6, 2012
Q4: Interim report January – December February 14, 2013
Invitation to telephone conference
Haldex invites media and analysts to a teleconference in connection to the company's Q2 Report 2012. Bo Annvik, President and CEO of Haldex, and Pramod Mistry, CFO of Haldex, will present and comment on the report. The presentation will also be webcasted live.
Date: Friday, July 20, 2012
Time: 11:00 AM CET
To join the telephone conference:
You can participate with questions by telephone.
SE: + 46 8 505 598 53
UK: +44 203 043 2436
US: +1 866 458 40 87
The presentation will be web casted live at:
The webcast will also be available afterwards and you can download the Interim Report and
the presentation from Haldex website:
Pramod Mistry, CFO
phone: +46 (0) 418 47 60 00
Kristina Brink, Corporate Communications Manager / Investor Relations
phone: +46 (0) 418 47 61 88 or +46 (0) 705 90 91 40
Haldex (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 approx 4 billion SEK in 2011. The number of employees amounts to about 2,350.
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 Friday July 20, 2012.