Haldex exceeds the target with an operating margin of 7.2 % in 2013 Haldex Group, October – December 2013 · Sales amounted to SEK 908 m compared to SEK 864 m in the corresponding period last year. Adjusted for exchange rate fluctuations, sales increased 6% compared to the same period prior year. · Operating income and operating margin excluding one-off items amounted to SEK 66 m (34) and 7.3% (3.9), respectively. Operating income and operating margin including one-off items amounted to SEK 53 m (28) and 5.9% (3.2) respectively. · Earnings after tax amounted to SEK 12 m (-3). Earnings per share amounted to SEK 0.26 (-0.05). · Cash-flow from operating activities amounted to SEK 76 m (99), affected by restructuring of SEK 7 m (9). · The Board of Directors propose a dividend of SEK 2.00 per share and a mandate for share buybacks with the intention of buybacks up to a value of SEK 100 m on an annual basis. · Haldex establishes new R&D center in the UK – Relocates to Mira Technology Park. · In Q4 restructuring costs of SEK 8 m was expensed related to actions in the UK, Germany and Hungary. Prolonged negotiations with the Works Council related to the restructuring of the German operation. · Catharina Paulcén was appointed Senior Vice President Corporate Communications. Key ratios, Haldex Group +---------------+-----+-----+---------+--------+--------+----------------------+ |Amounts in SEK |Jan |Jan |ChangeJan|Oct |Oct |ChangeOct-Dec2013/2012| |m |-Dec |-Dec |-Dec |-Dec2013|-Dec2012| | | |2013 |2012 |2013/2012| | | | +---------------+-----+-----+---------+--------+--------+----------------------+ |Net sales |3,920|3,933|0% |908 |864 |5% | +---------------+-----+-----+---------+--------+--------+----------------------+ |Operating |281 |210 |34% |66 |34 |94% | |income1) | | | | | | | +---------------+-----+-----+---------+--------+--------+----------------------+ |Operating |153 |150 |2% |53 |28 |89% | |income | | | | | | | +---------------+-----+-----+---------+--------+--------+----------------------+ |Operating |7.2 |5.3 |1.9 |7.3 |3.9 |3.4 | |margin, %1) | | | | | | | +---------------+-----+-----+---------+--------+--------+----------------------+ |Operating |3.9 |3.8 |0.1 |5.9 |3.2 |2.7 | |margin, % | | | | | | | +---------------+-----+-----+---------+--------+--------+----------------------+ |Return on cap. |14.6 |9.8 |4.8 |14.6 |9.8 |4.8 | |employed,% 1,2)| | | | | | | +---------------+-----+-----+---------+--------+--------+----------------------+ |Return on cap. |7.8 |7.0 |0.8 |7.8 |7.0 |0.8 | |employed,% 2 | | | | | | | +---------------+-----+-----+---------+--------+--------+----------------------+ |Earnings after |38 |54 |-30% |12 |-3 |- | |tax | | | | | | | +---------------+-----+-----+---------+--------+--------+----------------------+ |Earnings per |0.80 |1.12 |-0.32 |0.26 |-0.05 |0.31 | |share, SEK | | | | | | | +---------------+-----+-----+---------+--------+--------+----------------------+ 1) Excluding one-off items 2) Rolling 12 months Comments from the President and CEO Bo Annvik: “For the past 18 months we have had a large focus on improving earnings by lowering our cost base. I’m very pleased to see that we exceeded our target of 7% by reaching an operating margin of 7.2% for the full year 2013. In total we reached 3% sales growth in 2013 with a strong cash flow from operating activities of SEK 282 m. We are now moving from improving our operational excellence and financial performance towards focusing on profitable growth. Our strategic work will continue to be laid out in detail during the spring, and we plan to share further information about Haldex’ direction and updated financial targets in the early fall.” This report has been prepared in accordance with the altered IAS 19 “Employee benefits”. The revised standard affects the Income statement (Financial net and Taxes), the Balance sheet (Equity, Pension liability and Deferred taxes) and Other Comprehensive Income. All comparison numbers have been restated according to the altered standard, including key figures. For further information please see Accounting principles. Calendar reports 2014 AGM: Haldex, Landskrona, Sweden April 29, 2014 Q1: Interim report, January – March, 2014 April 29, 2014 Q2: Half year report, January – June, 2014 July 18, 2014 Q3: Interim report, January – September, 2014 November 5, 2014 Annual general meeting Haldex’ annual general meeting will be held on Tuesday 29 April at 16.00 CET, at Haldex, Instrumentgatan 15 in Landskrona, Sweden. Invitation to press and analyst meeting: Media and analysts are invited to a telephone conference at which the report will be presented with comments by Bo Annvik, President and CEO, and Andreas Ekberg, CFO. The presentation will also be webcasted live and you can participate with questions by telephone. Date/Time: Friday, February 14, at 11:00 CET To join the telephone conference: SE: +46 (0)8 505 564 74 UK: +44 203 364 5374 DK: +45 354 455 80 US: +1 855 753 2230 Internet: The presentation will be web casted live at: http://www.media -server.com/m/p/bz3j66sy The webcast will also be available afterwards and you can download the Interim Report and the presentation from Haldex website: http://www.haldex.com/en/GLOBAL/Investors/Report-archive/Interim-Reports/ Contact persons: Catharina Paulcén, SVP Corporate Communications Phone: +46 (0) 418 47 60 00 E-mail: catharina.paulcen@haldex.com Andreas Ekberg, CFO Phone: +46 (0) 418 47 60 00 Bo Annvik, President and CEO Phone: +46 (0) 418 47 60 00 Haldex AB (publ), Corporate Registration Number 556010-1155, E-mail: info@haldex.com, www.haldex.com Haldex discloses the information in this Interim Report according to the Swedish Securities Market Act and/or the Swedish Financial Trading Act. The information was provided for public release at 8:30 CET on Friday, February 14, 2014.
Haldex Year-end Report 2013
| Source: Haldex AB
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