Gunnebo interim report January-March 2013

Comments by Gunnebo’s President and CEO Per Borgvall
The first quarter is traditionally Gunnebo’s weakest. Development of net sales outside Europe continued to be strong during the quarter. In Asia net sales increased by 17% and the markets in North and South America developed also well. The US operation acquired in 2012 is delivering both net sales and margins as expected and the operation in Brazil is showing good profitable growth. Sales outside Europe amounted to 39% of Group sales at the end of the quarter.

In Europe we are seeing continued slow development on most markets. Development in Northern Europe is more stable whereas Southern Europe continues to be weak. In general, the markets in Europe are characterised by uncertainty which has an effect on investment decisions and postpones projects already decided upon. We will continue to reduce fixed costs in Europe, as well as continue to invest in growth on markets outside of Europe. During the quarter, expenses of a non-recurring nature amounted to MSEK 10.

First quarter 2013

  • Order intake amounted to MSEK 1,499 (1,595), organically* it decreased by 7%. Acquired units contributed MSEK 95.
  • Net sales amounted to MSEK 1,155 (1,169), organically* they decreased by 3%. Acquired units contributed MSEK 84.
  • Operating profit amounted to MSEK 1 (10) and the operating margin to 0.1% (0.8%). Acquired units had a positive effect on operating profit of MSEK 10.
  • Operating profit excluding expenses of a non-recurring nature of MSEK -10 (-4) amounted to MSEK 11 (14) and the operating margin to 0.9% (1.2%).
  • Profit/loss after tax for the quarter totalled MSEK -12 (-3).
  • Earnings per share were SEK -0.16 (-0.04).

*Organic growth is defined as “Growth in net sales, or order intake, adjusted for acquisitions, divestments and exchange rate effects.”

Full report is attached to this press release.

Welcome to breakfast seminar with Gunnebo at Radisson Blu Waterfront Hotel i Stockholm

Welcome to a breakfast semiar at Radisson Blu Waterfront Hotel i Stockholm (Nils Ericsons Plan 4) April 25.


08.15 Gunnebo’s President & CEO Per Borgvall, SVP Region EMEA Morten Andreasen and CFO Christian Johansson present the interim report January-March 2013          

09.00 Q&A

Attend the conference via the phone

It is also possible to attend the conference via phone. Please register on the link below to receive phone number and password to be used for the conference call:

Copies of the presentation used during the conference will be available 10 minutes prior to the telephone conference on

A recording of the conference will be available on as of afternoon April 25.

Group Communications

For more information, please contact:

Per Borgvall, President & CEO Gunnebo AB, tel. +46 10 2095 026, or
Christian Johansson, CFO Gunnebo AB, tel. +46 10 2095 026, or
Karin Wallström, Communication & IR Director Gunnebo AB, tel. +46 10 2095 026 or e-mail

Gunnebo discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.01 CET on April 25, 2013.

The Gunnebo Security Group provides efficient and innovative security solutions to customers around the globe. It employs 5 700 people in 32 countries across Europe, Asia, Africa, Australia and Americas, and has a turnover of €580m. Gunnebo focuses its global offering on Bank Security & Cash Handling, Secure Storage, Global Services and Entrance Control.

We make your world safer.


About Us

The Gunnebo Group is a global leader in security products, services and solutions with an offering covering cash management, safes and vaults, entrance security and electronic security for banks, retail, mass transit, public & commercial buildings and industrial & high-risk sites. The Group has an annual turnover of MSEK 6,000, employs 5,200 people and has sales companies in 28 countries across Europe, Middle East & Africa, Asia-Pacific and the Americas as well as Channel Partners on over 100 additional markets. We make your world safer.