MJOLBY, Sweden, Oct. 29, 2002 (PRIMEZONE) --BT Industries:
Orders rise - economic conditions remain uncertain
- Orders received rose 5% to SEK 9,396 m. (SEK 8,927 m.)
-Net sales declined by 7% to SEK 8,999 m. (SEK 9,715 m.)
- Income after net financial items fell 16%, SEK 540 m. (SEK 643m.)
- Slight rise in demand, but continued uncertainty in the market Positive signs, but no clear turnaround
Economic conditions in BT's industry are still uncertain. The increase in demand reported around mid-year continued during the third quarter, though to a lesser degree.
"The signs of an improvement in the global economy that we saw during the second quarter are still there," said CEO Per Zaunders. "However, we are still awaiting clearer signals of a turnaround. With regard to BT, we are pleased to note that we have gained market share during the year. A development being particularly evident in North America."
Net sales and income
BT's net sales during the first three quarters of 2002 fell by 7 percent to SEK 8,999 m., compared with SEK 9,715 m. in the corresponding period of the previous year. At the same time, orders received rose by 5 percent, from SEK 8,927 m. to SEK 9,396 m. The increase in orders received has also led to some build-up in the order backlog.
The Group's income after net financial items amounted to SEK 540 m. (SEK 643 m.) for the year's first nine months. This is a decrease of 16 percent.
"BT is active in an industry with long-term growth," added Zaunders. "The weak economy in recent years has put a bump in the growth curve. However, all indications are that long-term growth will remain good. Our efforts to continuously improve efficiency in every part of the Group continue. In this work, it is important to utilize synergies within BT and together with our owner, Toyota."
The complete interim report and other press material are available on BT Industries' home page: www.bt-industries.com
For further information, please contact: CEO, Per Zaunders +46 142 860 32 General information can be obtained from: Group Information & PR Coordinator, Ingrid Gyhagen +46 142 865 58/+46 70 658 34 27.
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The following files are available for download:
http://www.waymaker.net/bitonline/2002/10/29/20021028BIT00990/wkr0001.pdf The full report