Gunnebo makes statements on market conditions for 2011 During its annual Capital Market Day held on February 10, Gunnebo Security Group will make the following statements on the market conditions for 2011: “We are prepared for yet another year with an unpredictable business climate,” says Gunnebo President and CEO, Per Borgvall. “There are signs of slow recovery in several areas, but it is a “mixed bag” and we do not predict the European economic recovery to be very strong in 2011. However we do believe in strong growth in the regions Asia/Pacific and Africa/Middle East, which will be in Gunnebo's favour since we have well-established businesses in many of the growth economies in these regions. We also predict strong demands on increases in raw material prices and salary increases in many markets during 2011 as a reaction to the financial slow-down in ´09 and ´10.” Region North Europe* “Despite ongoing uncertainty in the capital market, our view for the overall economic climate in northern Europe for 2011 is slightly optimistic,” says Thomas Heim, SVP Region North Europe. “We expect moderate GDP growth for UK, Germany, Nordics and most of the eastern European economies with growth figures ranging between 1 to 5 per cent. We also think that increased security requirements will maintain the demand for innovative, high-quality security solutions where international customers seek international security cooperation partners and professional services will become an even more important key success factor. ” * Norway, Sweden, Finland, Denmark, Germany, Austria, UK, Netherlands and Eastern Europe (Poland, Czech Republic, Hungary) Region South Europe* “We expect the GDP growth to be moderate in southern Europe, that is stretching between 1-2 per cent, in all markets except for Portugal and Greece where we believe there will be negative growth in 2011,” says Christian Guillou, SVP Region South Europe. “A trend we believe will be in Gunnebo's favour is that the banking sector is looking for more cost-efficient solutions, especially for cash handling. At the same time we believe the number of branches to remain stable except in Spain where we will see a continued consolidation of savings banks with branch office closures as a consequence. During 2011 we also predict seeing additional security requirements come in from the retail sector due to the increased number of threats and attacks with the aim of getting hold of cash.” * France, Spain, Portugal, Italy, Greece, Switzerland, Belgium and Luxemburg A webcast of the presentations given during the day, along with the presentation material shown, will be available on demand on the Gunnebo website, www.gunnebo.com (http://www.gunnebo.com/), from late afternoon Ferbuary 10. GUNNEBO AB (publ) Group Communications For further information, please contact: Per Borgvall, President and CEO Gunnebo AB, tel. +46 10 2095 000, or Thomas Heim, SVP Region North Europe, tel. +49 173 34 27 920, or Christian Guillou, SVP Region South Europe, tel. +33 6 86 49 72 05, or Karin Wallström, Communication & IR Director Gunnebo AB, tel. +46 10 2095 026, or e-mail: karin.wallstrom@gunnebo.com (karin.wallstrom@gunnebo.com) Gunnebo may be required to disclose the information provided herein pursuant to the Swedish Securities Markets Act. The information was submitted for publication at 10.56 on February 10 .
Gunnebo makes statements on market conditions for 2011
| Source: Gunnebo AB