Interim report January - June 2006
Strong mid-year performance in the portfolio companies
- Bure’s share in EBITA of the portfolio companies for the six-month period ended 30 June 2006 improved by 21% to SEK 149M (123).
- Consolidated operating profit declined to SEK 58M (408) for the second quarter and SEK 179M (469) for the six-month period. The decrease is explained by the fact that operating profit for the year-earlier period included exit gains of over SEK 350M. The Group posted a net profit of SEK 36M (375) for the second quarter and SEK 125M (398) for the six-month period. Earnings per share after full dilution were SEK 0.03 (0.36) for the second quarter and SEK 0.10 (0.39) for the six-month period.
- The Parent Company’s profit after tax was SEK 26M (312) for the second quarter and SEK 17M (306) for the six-month period.
- The Parent Company’s reported equity after full exercise of outstanding warrants increased during the period by SEK 38M to SEK 2,502M (2,408). Equity per share amounted to SEK 1.93 (1.86) (discounted value).
- In the second quarter, dividends with a combined value of SEK 19M were received from the associated company Systeam in the form of cash and shares in Jeeves Information Systems AB.
- The extraordinary general meeting on 20 June 2006 resolved to authorise the implementation of share option and warrant programmes in the subsidiaries Citat Group AB, Cygate AB and Mercuri International Group AB.
Subsequent events
- Bure has signed an agreement for the sale of its shares in the engineering consultancy Carl Bro. The preliminary purchase consideration amounts to SEK 1,020M, of which SEK 175M consists of shares in the buyer, the Netherlands-based engineering group Grontmij. The preliminary capital gain is estimated at around SEK 620M. All affected competition authorities have given its clearance for the acquisition. Grontmij shareholders approved the transaction on an extraordinary shareholders’ meeting held on 17 August 2006. Closing is expected to take place, and hence Grontmij will gain access to the shares in Carl Bro, before the end of August 2006.
- Fredrik Mattsson has been appointed as President of Bure’s subsidiary Vittra AB and will take up his post on 9 October 2006.
- Within the framework of Bure's already adopted and communicated strategy, the Board of Directors has decided to review the company's capital structure.
A complete interim report can be read at http://www.bure.se
Gothenburg, August 23, 2006
Bure Equity AB (publ)
For further information, please contact:
Mikael Nachemson, President, tel. +46 (0)31-708 64 20
Anders Mörck, CFO, tel. +46 (0)70-646 52 11
Bure Equity AB (publ)
P O Box 5419
SE-402 29 Gothenburg
Tel. +46 31 708 64 00
Fax +46 31 708 64 80
www.bure.se