Interim report, January - June 1999

- Invoiced sales rose to SEK 4,477 million (4,058). Adjusted for the effects of exchange rate movements and company acquisitions, the rise was approximately 2 percent.

- Operating earnings rose by 45 percent to SEK 242 million (167).

- Earnings after financial items and minority share rose by 26 percent to SEK 184 million (146), providing earnings per share after full tax of SEK 4.33 (3.79).


The Group’s inflow of orders amounted to SEK 5,028 million (4,528), which adjusted for the effects of exchange rate movements is a rise of approximately 2 percent for the current structure of the Group.

Invoiced sales rose by 10 percent to SEK 4,477 million (4,058). Adjusted for the effects of exchange rate movements, this was a rise of approximately 8 percent. Company acquisitions accounted for about 6 percentage points of this rise.

Operating earnings rose by 45 percent to SEK 242 million (167), providing an operating margin of 5.4 percent (4.1). Cardo Rail showed a further improvement in operating earnings. Cardo Door and Cardo Pump reported earnings roughly on a par with last year. Group earnings after financial items rose to SEK 193 million (119), providing a profit margin of 4.3 percent (2.9).

Earnings after financial items and minority share rose by 26 percent to SEK 184 million (146). Earnings per share after full tax for the period amounted to SEK 4.33 (3.79).

The return on capital employed was 19.7 percent (13.8) for the twelve-month period ended June 30. The return on equity during the same period was 20.4 percent (15.2).