NACKA STRAND, Sweden, Feb. 18, 2002 (PRIMEZONE) -- Hexagon:
Fourth Quarter 2001
-- The Group net sales increased by 32 %, to 1 869 MSEK.
-- Earnings after financial items, adjusted for capital gains and
non- recurring items, rose by 48 % to 89 MSEK (60).
-- The Operating margin, adjusted for capital gains and non-recurring
items, was 7 % (6).
-- Hexagon Metrology has strengthened its position and taken market
share on a weak market. At the same time the business area has
undergone an extensive rationalisation programme. The operating
margin (EBITA) was to 11 %.
-- The business area Wireless was divested during the quarter.
January - December 2001
-- Earnings after financial items increased to 227 MSEK (223). -- The Board of directors propose a dividend of 5 SEK (5).
Hexagon is a multinational engineering group with the long-term ambition of positioning itself as number one or number two within its strategic sectors. The operation is divided into three business areas. The group's targets are to increase earnings per share after tax by at least 15 per cent p.a., and achieve a return on capital employed of more than 15 per cent over a business cycle.
Development During the Last 18 Months
In accordance with the Groups strategic direction that was decided in 2000, the fiscal year has been characterised by extensive changes in the group structure. From being a traditional Swedish conglomerate Hexagon is being transformed into a focused technology group with global reach. The Changeover has resulted in a number of acquisitions and divestitures during the year.
During the last 18 months companies with a total turnover of approx. 2 GSEK have been divested, at the same time as companies with a total turnover of approx. 4 GSEK have been acquired. The divestitures and acquisitions were, for natural reasons, not concluded simultaneously, why the Group operations during the first four months had an annualised sales turnover of approx. 4,5 GSEK, compared to the annualised sales turnover of more than 7 GSEK that the group has in the fourth quarter.
Through the new Group structure the Swedish market now represents 26 per cent of the groups net sales as a running rate. For fiscal 2001 the same ratio is 43 per cent (63).
Hexagon has, during 2001, carried out its operations via four business areas: Hexagon Automation, Hexagon Engineering, Hexagon Metrology and Hexagon Wireless. On December 31st, 2001 the business area Hexagon Wireless was divested.
The comparability between fiscal 2001 and 2000 is affected by the disposal of Tecla, Fagerberg, Norfoods and Johnson Metal Bearing Components as well as the acquisitions of the Berendsen hydraulics operations in the Nordic countries and Brown & Sharpe's global metrology operations.
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