Interim report January-March 2012: Sales in Line with Estimates, Order Intake Increasing
• Order intake was 353.3 MSEK (350.4)
• Net sales were 339.0 MSEK (362.0)
• Operating profit before depreciation and amortization was 41.1 MSEK (53.9), equating to a margin of 12.1%.
• Operating profit was 25.5 MSEK (41.1), equating to a margin of 7.5%
• Decline in earnings is entirely attributable to lower volumes within business area HMI Products – however, the trend has turned upwards during this quarter
• Profit after tax was 12.8 MSEK (28.4)
• Earnings per share were 0.62 SEK (1.45)
COMMENTS FROM FREDRIK JÖNSSON, CEO
“As reported, Beijer Electronics’ sales and profits were lower in the first quarter. However, our results were better than we originally expected, with a strong conclusion to the quarter. Increased order intake, the group’s second highest in a quarter, which is also a clear improvement on the two last quarters of the previous year, added to the positive outlook. The decrease in operating profit is wholly related to lower sales volumes.
The HMI Products business area progressed as expected, but has been through a tough period, primarily with lower demand from the Chinese market and lower sales to the brand label segment. Simultaneously, we are seeing signs that the market has bottomed out, because order intake in the quarter was the third-best ever and March was the single strongest month ever. In quarter-on-quarter terms, HMI Products grew by 6%. The major event in the next quarter is the launch of our new global product family of operator panels, which will be in April.
The Automation business area made stable progress in the period with better profits and unchanged sales. Another positive was the growth in order intake, despite a fairly slow market in Sweden. The recovery in Norway continued and progress in Finland was positive. Automation hit its longterm margin target of 8%.
Once again, the IDC business area achieved good growth in order bookings and sales, and far better profits. Our initiative on the American market has achieved continued success. Sales in the UK and France were especially positive. In China, IDC’s products have encountered great interest. The business areas completed its significant market initiatives and its large-scale investments in product development, because we see very high potential in this business area’s future.”
INVITATION TO CONFERENCE CALL
Today a conference call will be held for press and analysts where President and CEO Fredrik Jönsson and CFO Anna Belfrage present the company and comment on the report.
Time: Wednesday April 25 at 2.30 p.m. CET
To participate in the conference please dial:
From Sweden: +46(0)8 506 85759
From the UK: +44(0)207 108 6205
To access the presentation please use this link:
The interim report and the presentation will be available at Beijer Electronics' website www.beijergroup.com under Investors/Presentations.
A recording of the conference call will also be available here after the event.
For more information please contact:
President and CEO, Fredrik Jönsson, tel +46 (0)40 35 86 10, mobile +46 (0)705 17 16 26
CFO, Anna Belfrage, tel +46 (0)40 35 86 53, mobile +46 (0)706 35 86 53
Beijer Electronics is a fast growing technology company with extensive experience of industrial automation and robust data communication. The company develops and markets competitive products and solutions with focus on the user. Since its start-up in 1981, Beijer Electronics has evolved into a multinational group with offices in 21 countries and sales of 1.4 billion SEK in 2011. Beijer Electronics is listed on the NASDAQ OMX Nordic Exchange Stockholm’s Small Cap list under the ticker BELE. www.beijerelectronics.se