Second quarter (1 July-30 September 2015)
- Revenue amounted to MSEK 1,839 (1,851).
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Operating profit increased to MSEK 131 (130), corresponding to an
operating margin of 7.1 percent (7.0). - Profit after financial items rose by 5 percent to MSEK 126 (120).
- Net profit increased by 7 percent to MSEK 96 (90).
- Earnings per share rose to SEK 3.40 (3.20).
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Cash flow from operating activities amounted to MSEK 57 (6) and
cash flow per share for the most recent 12-month period was SEK 16.05 (6.50). - The return on equity for the most recent 12-month period was 14 percent (13).
- The equity/assets ratio at the end of the period was 49 percent (44).
Reporting period – 6 months (1 April-30 September 2015)
- Revenue amounted to MSEK 3,893 (3,882).
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Operating profit rose by 11 percent to MSEK 260 (235) and
the operating margin was 6.7 percent (6.1). - Profit after financial items rose by 18 percent to MSEK 250 (212).
- Net profit rose by 19 percent to MSEK 190 (159).
PRESIDENT’S STATEMENT
For the first six months of the financial year 2015/16 the profit after financial items rose by 18 percent, which is gratifying. The second quarter of the year was characterised by slightly higher sales volumes for all of our geographic markets with the exception of Norway. We are continuing our efforts to adapt our Norwegian operations to the weak demand in the offshore sector, while at the same time focusing on growth in other customer segments such as the construction and civil engineering industry and public administration sector.
Combined with decentralised profit responsibility and cost control in all of our units, the earnings trends for ESSVE and TOOLS Sweden have resulted in higher operating profit for the Group as a whole compared with the preceding year.
The Group’s profitability, measured as operating profit in relation to working capital (P/WC), remained favourable and amounted to 26 percent (25) for the most recent 12-month period. During the same period cash flow per share has increased to SEK 16.05 (6.50).
Stockholm, November 2015
Ulf Lilius
President & CEO
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