BT Industries AB, first quarter 1999

BT Industries AB, first quarter 1999 Gains continue for BT *Orders received +8%, SEK 2,382 m. (2,203) *Net sales +11%, SEK 2,266 m. (2,041) *Income after net financial items +20 %, SEK 115 m. (96) *Acquisition in counterbalance trucks creates new opportunities BT Industries´ positive development continues. During the first quarter of the year orders received, sales and income all rose. The Group's orders received amounted to SEK 2,382 m. (2,203), an increase of 8 percent compared with the corresponding period last year. The Group's net sales amounted to SEK 2,266 m. (2,041), an increase of 11 percent. Income also improved. Income after net financial items rose by 20 percent to SEK 115 m. (96). Net income of SEK 65 m. (54) corresponds to earnings per share of SEK 2.35 (1.95) Continued market growth The basis for the good start is a continued growing market. During the first quarter demand continued to develop positively in both Western Europe and North America. Growth is stable, though slightly lower than the previous year. Other markets are reporting substantial variations. Development in some parts of Eastern Europe has been very weak. A slowdown was noted in South America, while growth increased in Southeast Asia. As a whole, however, markets outside Western Europe and North America are growing. Acquisition creates opportunities In March BT acquired 45% of the shares of CESAB Carrelli Elevatori S.p.A, Italy's second largest manufacturer of counterbalance trucks. The acquisition, which is an element in BT Industries´growth strategy, gives it access to a range of counterbalance trucks under its own brand name. BT will thereby be able to offer primarily its European customers a complete range of both warehouse and counterbalance trucks. This means that cooperation with existing customers can be broadened at the same time that completely new segments can be reached. Several new products During the first quarter a number of new products were launched in North America and Western Europe. Early ´99, BT Raymond introduced its new Millennium@ Walkie pallet truck series. Late in 1998 BT Raymond began @ producing the next generation of Swing-Reach VNA forklifts in North America, which was launched during the first quarter in Europe under designation CTL/CTH. Other new products in Europe includes VEFLEX, a very narrow aisle truck which utilizes AC technology and modules from the REFLEX reach truck range, as well as SL 2.0, a stand-in low-lifter. Also, counterbalance trucks under the BT brand were presented at the logistics trade show in Paris in March. In addition, deliveries will now begin from the Mjölby plant to Toyota in Europe according to the agreement signed in December 1998. In North America, deliveries have begun to The Home Depot according to the agreement signed in August of last year. "Well-equipped" "Operations are developing well, further strengthened through strategic agreements, new products and benefits from synergies, comments President Carl- Erik Ridderstråle. "In the early part of 1999 there have been signs of a continued growing market, for which we are well-equipped in terms of both products and distribution". Due to the ongoing Annual General Meeting, President & CEO Carl-Erik Ridderstråle will answer questions regarding this interim report after 3:30 p.m. at +46-142-862 12 or Executive Vice President & CFO Per Zaunders at +46- 142-860 32. For general questions, please contact PR Manager Göran Skoglund at +46-142-864 09 or +46-70-555 92 88. This release, as well as the interim report, is available at www.bt-industries.com. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/22/19990422BIT00250/bit0001.doc http://www.bit.se/bitonline/1999/04/22/19990422BIT00250/bit0002.pdf