Interim Report Third Quarter 2017
- In our previous second quarter report we noted the results should be considered against a strong comparative in the second quarter of 2016. The third quarter results should now however be considered against a weaker comparative in the third quarter of 2016.
- Net sales increased by 6% to SEK 95.6 (90.0) million. Adjusted to fixed exchange rates, net sales increased by 9%.
- Adjusted operating profit increased by 7% to SEK 28.8 (26.9) million.
- Adjusted profit before tax increased by 24% to SEK 21.8 (17.6) million.
- In September 2017, Diamorph AB (publ) redeemed all of its remaining SEK 450 million of outstanding bonds. The transaction required the payment of an early redemption premium of 3% (SEK 13.5 million) to bondholders. The bonds were redeemed using a combination of existing surplus cash accumulated within the Group as well as from proceeds drawn down through a new senior secured bank facility.
- Operating profit (as reported under IFRS) increased by 8% to SEK 27.8 (25.8) million.
- Profit before tax (as reported under IFRS) decreased by 64% to SEK 7.1 (19.7) million.
First nine months
- Net sales increased by 1% to SEK 317.1 (313.0) million. Adjusted to fixed exchange rates, net sales increased by 1%.
- Adjusted operating profit increased by 3% to SEK 108.1 (104.7) million.
- Adjusted profit before tax increased by 9% to SEK 83.5 (76.8) million.
- In February 2017, Diamorph AB (publ) acquired the final 10% of Diamorph Bearings AB and so today controls 100% of each of its subsidiaries.
- Operating profit (as reported under IFRS) increased by 9% to SEK 110.2 (101.2) million.
- Profit before tax (as reported under IFRS) decreased by 29% to SEK 82.8 (116.0) million.
The full report is attached to this press release and is also available for download at www.diamorph.com.
For additional information, please contact:
Gordon MacLeman, CEO
Telephone: +44 161 955 2410
Mark Hutchison, CFO
Telephone: +44 161 955 2409
The information was submitted for publication on November 20, 2017, at 08:00.
Diamorph supplies advanced material solutions for especially demanding industrial applications. The Company is headquartered in Stockholm and has subsidiaries in the United Kingdom and the Czech Republic. Learn more at www.diamorph.com.