Q1 report january - march 2001
Q1 REPORT JANUARY - MARCH 2001 · Orders received climbed 57% to SEK 1,985.9 million (1,266.3) · Net sales rose by 64% to SEK 1,919.0 million (1,167.9) · The operating profit rose 50% to SEK 228.2 million (152.0) · The profit before tax went up 23% amounting to SEK 167.2 million (135.6) · Strong volumes and earnings trend continues for the Extended Care business area · Strong introduction for the Surgical Systems business area The quarter The year has started well for the Group as a whole and for the Surgical Systems business area the volume trend during Q1 was exceptional on a number of markets. Integrating the Maquet and ALM acquisitions is going according to plan and has contributed to a reduced cost level and a good operating profit. The Extended Care business area's performance continues to be very good with volume increases on most markets. The increase in net sales and the synergy gains from last year's acquisitions meant that the operating profit climbed markedly during Q1. The Infection Control business area has had a flat start to the year volume-wise and the level of demand continues to be hard to judge in Europe. The North American market has started the year more weakly than expected. From the start of the year Maquet's Infection Control activities are included which have not made a positive contribution to the business area's operating profit. Outlook Surgical Systems' strong volume and earnings trend at the start of the year, coupled with good progress in the restructuring programme, means that the profit outlook for the year is assessed to be good. The market's outlook for Extended Care continues to be positive. A number of new products are being launched and have been received very positively by the market. The business area is calculating on the positive earnings trend continuing during the year. Infection Control has started the year on a weak footing on the back of receding volumes. The long-term work to improve the Group's production structure as well as the integration of Maquet's Infection Control activities will have a positive impact on profits during the second half of the year. The level of demand will continue to be hard to judge. To sum up, the Group continues to view the earnings trend positively. The strong performances by the Surgical Systems and Extended Care business areas are compensating for Infection Control's weak start. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.bit.se/bitonline/2001/04/23/20010423BIT01220/bit0001.doc http://www.bit.se/bitonline/2001/04/23/20010423BIT01220/bit0002.pdf