Interim Report January to March 2001
Interim Report January to March 2001 ·The operating profit for the first quarter was EUR 34 million (179 million). The earnings per share was EUR 0.07 (0.43). ·Profitability in the period was affected by both low stainless steel demand and reduced base selling prices. ·Demand and selling prices are now recovering, although there is some concern about the trend in world economies and its effect on stainless steel demand. ·A cash inflow reduced net interest bearing debt in the quarter by EUR 42 million. Gearing was 23.6 per cent at the end of the quarter. Key figures - pro forma Jan-March Jan-March 2001 2000 Net sales, EUR million 813 911 Operating profit, EUR million 34 179 Profit before extraordinary items and taxes, EUR million 32 174 Profit for the financial period, 23 151 EUR million Earnings per share, EUR ¹) 0.07 0.43 Return on capital employed, % ¹) 7.7 37.0 Net interest bearing debt at period end, EUR million 277 403 ¹) Including negative goodwill. These are pro forma figures which include both AvestaPolarit and Avesta Sheffield for the full period. All text comments in this review relate to the pro forma figures. For further information, please contact: Espoo: Katarina Lybeck, Senior VP - Corporate Communications, +358 9 5764 5505 or +358 40 503 0750 Jouni Grönroos, Deputy CFO & Corporate Controller +358 9 5764 5510 or +358 40 504 5125 Stockholm: Ian Cooper, Executive VP & Chief Financial Officer +46 8 613 3647 or +46 70 656 56 86 Inga Lundberg, Manager - Investor & Media Relations +46 8 613 4419 or +46 70 656 56 95 AvestaPolarit Corporate Management - Linnoitustie 4 A, PO Box 270, FIN-02601 Espoo, Finland Phone: +358 9 5764 5511, fax: +358 9 5764 5555 - Vasagatan 8-10, PO Box 16377, SE-103 27 Stockholm, Sweden Phone: +46 8 613 3600, fax: +46 8 613 3669 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/07/20010507BIT00720/bit0002.doc The full report http://www.bit.se/bitonline/2001/05/07/20010507BIT00720/bit0002.pdf The full report