Year end Report, January–December 2012

Fourth quarter:

•    Net sales were MSEK 197.6 (209.2).

•    Operating income was MSEK -4.7 (12.4). Operating income before non-recurring items was MSEK 1.0 (14.0).

•    Operating margin was -2.4 percent (5.9).

•    Profit after tax was MSEK 5.9 (7.7). Earnings per share were SEK 0.52 (0.67).

•    Cash flow after investments was MSEK 26.4 (34.5).

•    New owners after Priveq sold its shares to Tibia Konsult AB, LK Finans AB and Jan Söderberg Förvaltning AB.

Full year:

•   Net sales were MSEK 860.5 (918.6).

•    Operating income was MSEK 38.3 (69.6). Operating income before non-recurring items was MSEK 56.4 (75.8).

•   Operating margin was 4.5 percent (7.6).

•   Profit after tax was MSEK 32.6 (45.7). Earnings per share were SEK 2.85 (4.00)

•   Cash flow after investments remains strong, and was MSEK 67.0 (85.3).

•   The Board of Directors is proposing a dividend of SEK 2.50 (4.00) per share.

CEO’s comment:

“For the year as a whole, progress was poorer than we expected at the beginning of 2012. First and foremost, quarters three and four were worse than we had anticipated, with December particularly returning a substantial downturn compared to 2011 due to general market hesitancy before year-end.

Profit in the fourth quarter was charged with MSEK 5.7 of non-recurring expenses for preparations for Ostnor’s previously reported IPO, and further restructuring. Otherwise, the deteriorated operating income is explained by the lower volumes produced in the period. The company generated strong cash flow in the quarter as a whole.

In tandem with the sale of Priveq Investment’s shares to three new owners, our IPO plans have been suspended, and instead, Ostnor will continue in an unlisted environment.”

Download entire report here

Reporting calendar:

Annual Report 2012                   April

AGM                                             7 May

Interim Report, Q1 2013             8 May

Interim Report, Q2 2013             29 August

Interim Report, Q3 2013             7 November

 

For more information, please contact:

Claes Seldeby, CEO

Tel. +46 (0)250 596405

Anne-Charlotte Eggwertz, CFO

Tel. +46 (0)250 596225

Ostnor conducts the sale, manufacture and product development of faucets under the strong, well-established product brands FM Mattsson and Mora Armatur. The company’s main market is the Nordic countries. Ostnor has sales of nearly 900 million Swedish kronor and some 460 full-time employees. Operations are concentrated in Mora, Sweden, where the head office is also located.

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