INTERIM REPORT JANUARY-JUNE 2011
Good volume growth in the Nordic region and Western Europe but a continued weak market in Central Europe
First half-year
Net turnover decreased by 12.3% and amounted to SKr 484.8 million (552.5).
The operating result was a loss of SKr 49.6 million (loss 57.2). Geveko normally reports a loss for the first half of the year owing to wide seasonal fluctuations. The somewhat better result in relation to the same period in the previous year is due to good volume and profitability growth within the Material Sales Business Area.
The consolidated result after tax was a loss of SKr 46.2 million (loss 48.4).
The loss per share was SKr 2.74 (loss 2.85).
Second quarter
Net turnover amounted to SKr 392.8 million (414.1).
The operating result was a profit of SKr 35.6 million (37.3).
The consolidated result after tax was a profit of SKr 23.7 million (26.9).
Comments by Stefan Tilk, CEO and Managing Director
With the exception of the Nordic region, the road-marking market in Europe has remained weak. Geveko is adversely affected by market conditions, both as regards material sales and contract road marking. Public funding for the road sector in the Nordic countries, and to some extent in Western Europe, has increased. Following procurement negotiations during the spring in the Nordic region, Geveko was awarded most of the contracts, which will ensure a satisfactory volume. The measures to improve efficiency and profitability within the contracting business involved closer cooperation between Geveko’s Nordic business areas during the spring. Planned cost-reduction measures have now been implemented at all of Geveko’s contracting companies in Europe. In addition a sharper focus on cross-border cooperation within the Materials Business Area has had favourable effects.
Contact information:
Stefan Tilk, CEO and Managing Director
Tel: +46 (0) 31 172945, +46 (0) 702 499419
Stefan.tilk@geveko.se
The information provided in this interim report is such that Geveko is required to publish in accordance with the Act concerning the Securities Market and/or the Act concerning Trading in Financial Instruments.