Haldex interim report, January - March 2016: Solid operating margin in spite of weaker market conditions
Market conditions continued to weaken in Q1, resulting in lower sales, especially in North America. Lower actuator sales were the single biggest cause of the lower net sales figures. Solid cost controls, implemented cost savings and an improved gross margin partially offset the decrease in sales and had a positive impact on the operating margin. Cash flow improved compared with the same period of the previous year.Net sales for Q1 totaled SEK 1,097 (1,246) m, equivalent to a 12% decrease compared with the same period of the previous year. After currency adjustments, net sales decreased by