BT Industries 2000 Another record year

BT Industries 2000 Another record year - Global market for warehouse trucks up 10% - Orders received +20% to SEK 12,060 m. (SEK 10,050 m.) - Income after net financial items + 22% to SEK 824 m. (SEK 675m.) - BT forms the world's largest lift truck company with Toyota For the sixth consecutive year BT Industries AB has reported increased orders received, sales growth and improved earnings. As in previous years the basis for the company's success was the growing global market for warehouse trucks. In 2000 the global market is estimated at 250,000 units, corresponding to growth of slightly over 10% compared with 1999. In Western Europe, demand continued to grow during the year. In terms of volume, the increase was primarily in the small truck segment. In North America, demand increased for the year as a whole, although there were clear signs of a slowdown late in the year. Other markets, including Asia and parts of South America and Eastern Europe, generally grew strongly during the year. BT has a global market share of approximately 22 percent in the warehouse truck segment. Together with its new owner, Toyota, the two companies are the world leader in the lift truck industry. Income rose 22% During the year orders received amounted to SEK 12,060 m., an increase of 20% compared with 1999. Net sales amounted to SEK 11,518 m., an increase of 18%. Of BT's product areas, sales growth was highest for counterbalanced trucks, +54%, followed by manual trucks, +19%, and warehouse trucks, +18%. Income after net financial items amounted to SEK 824 m. (675), an increase of 22%. The profit margin rose to 7.2%, compared with 6.9% in the previous year. (cont.) Strong new owner In June BT was acquired by Toyota, which currently owns 98% of the shares. A compulsory redemption of the remaining shares has begun. During the year BT acquired the remaining 55% of the shares in Italy's CESAB. The company develops and manufactures counterbalanced trucks. As a first result of the co-operation between BT and Toyota, a new series of counterbalanced trucks will be launched under the BT brand name in Scan- dinavia and the UK in the spring of 2001. The trucks are manufactured by Toyota and BT, and will replace BT's existing range of other counterbalanced trucks. Investments for the future During the year an investment was made to increase production capacity at BT's Canadian warehouse truck plant. This raised capacity by 50%. A similar investment is being made at the Mjölby plant, which will raise capacity by 40% by 2003. Capacity investments are also under way at CESAB. The investments now being made include environmental improvements, such as water treatment and alternative painting methods. Improved customer service At year-end the Group had 7,900 employees, compared with slightly over 7,000 at the end of 1999. Of the increase, slightly over 300 employees are attributable to the acquisition of CESAB and 200 to production facilities to meet the rise in orders. Other personnel increases were primarily in customer support, in the form of field technicians and other sales and service staff. 'Major opportunities' "A year of success," says President and CEO Carl-Erik Ridderstråle, summarizing 2000 and pointing to the combination of a strong market and BT's successful efforts within it. "In 2001 we expect weaker market growth, but thanks to the strength of our new structure we have good opportunities to win market share." For questions regarding this press release and the annual accounts, please contact CEO Carl-Erik Ridderstråle (tel. +46 142 862 12) or CEO Per Zaunders (+46 142 860 32). For general questions, contact PR Manager Göran Skoglund at +46 142 86409 or +46 70 555 92 88. The complete annual accounts are available on BT Industries' home page: www.bt-industries.com. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/02/28/20010228BIT00570/bit0002.doc http://www.bit.se/bitonline/2001/02/28/20010228BIT00570/bit0002.pdf