Year-end Report 2011

| Source: Pricer AB Pricer AB 

Year-end Report 2011

New record in sales and profit for the quarter and the year

  · During 2011 a number of agreements have been signed and an increased number
of pilot projects were installed
  · The arbitration against ProMargin ended and Pricer will pay SEK 1.9 M in
damages. In total, the process has cost SEK 3.6 M during the quarter and SEK 5.8
M during the year
  · The operating profit before these costs was SEK 30.1 M in the quarter and
SEK 82.5 M for the year, equivalent to an operating margin of 15.7 percent and
13.5 percent respectively
  · A new portion of the tax-loss carry forward has been capitalised, which
improved the net profit and earnings per share
  · The board of directors proposes an increased dividend of SEK 0.25 (0.20) per
share
  · Increased net sales and operating profit is expected for 2012 as compared to
2011

Fourth quarter

  · Order entry:                                  SEK 148,2 M (144.0)
  · Net sales:                                     SEK 191.9 M (161.3)
  · Gross margin:                               32 percent (33)
  · Operating profit:                            SEK 26.5 M (26.0)
  · Operating margin:                         13.8 percent (16.1)
  · Net profit:                                     SEK 102.5 M (25.6)
  · Cash flow:                                    SEK 29.7 M (13.3)
  · Basic earnings per share:              SEK 0.95 (0.24)

Full year

  · Order entry:                                  SEK 648.1 M (439.0)
  · Net sales:                                     SEK 613.0 M (447.2)
  · Gross margin:                               32 percent (37)
  · Operating profit:                            SEK 76.7 M (60.8)
  · Operating margin:                         12.5 percent (13.6)
  · Net profit:                                     SEK 150.3 M (56.2)
  · Cash flow:                                    SEK 5.9 M (-15.3)
  · Basic earnings per share:              SEK 1.40 (0.54)

 
Comments from the CEO Fredrik Berglund
It is gratifying that the strong development for Pricer continues also during
the fourth quarter both with regards to net sales and profit. During the year a
number of important agreements have been signed and the number of pilot projects
has doubled as compared to last year. Furthermore, an increasing number of
custom­ers, also outside the traditional food retail, have discovered the
advantages with the solution of Pricer. By geography, growth has increased
during the quarter in the region of America. The uncertainty of the economic
climate however, makes judge­ment about the company’s development in 2012 more
difficult. We are expecting a deferral of the revenue from Carrefour, which have
informed that they will extend the project of upgrading of our system in their
hypermarkets from earlier three to four years. In all, however, despite the
above, our outlook is that we will reach a higher net sales and operating profit
in 2012 as compared to 2011.

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