Interim report January – September 2010
Press release from Elanders AB (publ) 2010-10-21
- Net sales fell by 6.7 % totaling MSEK 1,215.0 (MSEK 1,302.0).
- Operating result amounted to MSEK -81.8 (MSEK -31.7), of which one-off items amounted to MSEK -39.7 (MSEK -16.4) net.
- Result before taxes was MSEK -104.1 (MSEK -56.5).
- Net result was MSEK -82.5 (MSEK -37.2) or SEK -8.29 per share (SEK -3.78 per share).1)
- Operating cash flow amounted to MSEK -85.5 (MSEK 34.0), of which acquisitions were MSEK -26.8 (MSEK 0.0).
- The new share issue with preferential rights has been carried out and raised MSEK 208.1 after issue expenses. The new share issue has strengthened Elanders’ financial position.
- In July Elanders signed a contract to acquire the operations in the packaging printing plant Printpack in Germany with annual net sales of about MSEK 100.
- In September 55 persons were given notice of redundancy in Sweden. In connection to this structural costs of MSEK 58.5 have been charged to operating costs, primarily costs for staff reductions.
- At the end of September a new, two-year credit agreement was signed with the banks. The forecast for 2010 of a result before taxes of around MSEK -110 including costs of MSEK 80 for restructuring during the second half of the year remains unchanged.
- The forecast for 2011 is a positive result before taxes.
The third quarter
- Net sales increased by 6.6 % totaling MSEK 405.8 (MSEK 380.7).
- Operating result amounted to MSEK -61.8 (MSEK -21.4), of which net one-off items amounted to MSEK -54.5 (MSEK 0.0).
- Result before taxes was MSEK -70.5 (MSEK -27.8).
- Net result amounted to MSEK -52.0 (MSEK -16.6) or SEK -5.04 per share (SEK -1.67 per share).1)
- Operating cash flow amounted to MSEK -14.1 (MSEK -33.0), of which acquisitions were MSEK -23.6 (MSEK 0.0).
1) There was no dilution during the given periods.
Elanders AB (publ)