Interim report, January - March 2000

- Invoiced sales totaled SEK 2,214 million (2,117), a rise of 5 percent after adjustment for the effects of exchange rate movements and company acquisitions/disposals.

- Operating earnings rose by 35 percent to SEK 107 million (79).

- Earnings after financial items and minority share rose from SEK 52 million to SEK 81 million.

- Earnings per share after full tax rose to SEK 1.96 (1.27).

- Cash flow from operations after tax rose to SEK 7.60 (1.13) per share.


The Group’s inflow of orders amounted to SEK 2,357 million (2,272) during the period, which is a rise of 5 percent for the current structure of the Group after adjustment for the effects of exchange rate movements.

Invoiced sales rose to SEK 2,214 million (2,117). Adjusted for the effects of exchange rate movements, this is a rise of 7 percent. Company acquisitions/disposals account for 2 percentage points of this figure.

Operating earnings rose by 35 percent to SEK 107 million (79), providing an operating margin of 4.8 percent (3.7). Cardo Door and Cardo Rail improved their operating earnings, and Cardo Pump's were on a par with last year. Earnings after financial items rose to SEK 83 million (54), providing a profit margin of 3.8 percent (2.5).

Earnings after financial items and minority share rose to SEK 81 million (52). Earnings per share after full tax were SEK 1.96 (1.27).

Exchange rate movements are estimated to have had only a marginal impact on Group earnings.

Return on capital employed was 19.3 percent (18.9) for the twelve-month period ended
March 31. Return on equity during the same period amounted to 22.0 percent (19.9).

Cash flow from operations after tax improved to SEK 7.60 (1.13) per share.