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  • Preliminary information about Componenta’s first quarter interim report 2012: Operating profit improved clearly, result after financial items weakened slightly, full year outlook remains the same
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Preliminary information about Componenta’s first quarter interim report 2012: Operating profit improved clearly, result after financial items weakened slightly, full year outlook remains the same

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  • Operating profit excluding one-time items improved as estimated to MEUR 10.2 (MEUR 8.5).
  • Result after financial items excluding one-time items weakened from previous year due to increased financial expenses and was MEUR 2.8 (MEUR 3.2). According to the earlier prospects, the result after financial items excluding one-time items was expected to improve from the previous year. Result after financial and one-time items was MEUR 2.7 (MEUR 0.7).
  • The Group’s order book at the end of March was on the same level as in the previous year MEUR 106 (MEUR 104).
  • Consolidated net sales rose 4% to MEUR 150 (MEUR 144).
  • Cash funds at the end of review period were MEUR 66 (MEUR 67).

The Group’s net financing expenses in the review period were MEUR -7.4 (MEUR -5.3). Net financing expenses rose from the previous year due to fair valuation loss of interest rate hedges, foreign exchange losses and increased arrangement fees of long-term financing.

The net gearing, including the outstanding capital notes in equity, decreased from the year end to 159% (271%) and the Group’s equity ratio improved to 17.4% (9.4%) from the year end.

Outlook for year 2012 does not include any essential changes compared to the prospects published on 20 March 2012.

Full year net sales 2012 are expected to be similar to the previous year’s figure or to grow slightly. As a result of the implemented price increases and the improved cost structure, the operating profit is expected to improve clearly. The result after financial items excluding one-time items is expected to improve significantly, taking into account the low level of the corresponding figure. Net cash flow from operations is expected to improve clearly and changes in working capital should remain moderate. Investments in production facilities in 2012 are estimated at some EUR 12 million.

Componenta’s earlier prospects concerning the first quarter 2012 were as follows: The net sales are expected to grow slightly from the previous year. As a result of the implemented price increases and the improved cost structure, the operating profit is expected to improve clearly. The result after financial items excluding one-time items is expected to improve.

The figures to be published in the interim report on 24 April 2012 may to some extent differ from this preliminary information.

Helsinki, 17 April 2012

COMPONENTA CORPORATION

Heikki Lehtonen
President and CEO

 

For further information, please contact:

Heikki Lehtonen                                                 Mika Hassinen
President and CEO                                           CFO
tel. +358 10 403 2200                                        tel. +358 10 403 2723

 

Componenta is a metal sector company with international operations and production plants located in Finland, Turkey, the Netherlands and Sweden. The net sales of Componenta were EUR 576 million in 2011 and its share is listed on the NASDAQ OMX Helsinki. The Group employs approx. 4,700 people. Componenta specializes in supplying cast and machined components and total solutions made of them to its global customers who are manufacturers of vehicles, machines and equipment.  

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