English

INTERIM REPORT JANUARY-SEPTEMBER 2011

Report this content

Summary
Robust performance by GEVEKO Material and Contracting Nordic

January-September

  • Net turnover amounted to SKr 936.6 million (1,023.5).
  • The operating result was a loss of SKr 5.4 million (loss 8.8).
  • The consolidated result after tax was a loss of SKr 28.3 million (loss 16.2).
  • The loss per share was SKr 1.55 (loss 1.29).

Third quarter

  •  Net turnover amounted to SKr 451.8 million (471.0).
  •  The operating result was a profit of SKr 44.2 million (48.4).
  • The consolidated result after tax was a profit of SKr 17.8 million (32.2).
  •  Earnings per share amounted to SKr 1.01 (1.96).

Q3 in brief

  • Continued strong performance by Geveko Material despite higher raw material prices.
  • Geveko and Safe Road have entered into an agreement on joint product development and production.
  • Sustained steady growth by Contracting Nordic.
  • Positive trend reversal in sales and margins in Hungary.
  • Segment Central Europe is still incurring heavy losses.
  • Romanian operations are still being adversely impacted by the country’s deteriorating public finances.
  • Geveko is undergoing a strategic evaluation process with the object of freeing up capital of 100 million kronor and eliminating the losses originating on the Contracting market, primarily in segment Central Europe.
  • New reporting by Segments since the third quarter to more closely reflect the company’s new operative structure and increase the transparency of the business.

In connection with the release of this report the company’s management will also publish it on the company’s website: www.geveko.se.  


Comments by Stefan Tilk, CEO and Managing DirectorGeveko Material and Contracting Nordic are continuing to make good progress despite higher raw material prices and a precarious global economic situation. Apart from having increased total revenues in these areas, profitability was also good. We are still incurring heavy losses on our contracting markets in Central and Eastern Europe; the Romanian market in particular is a persistent drain on the result owing to the country’s weak public finances, which has resulted in the postponement of many of our contracts. Despite the relatively limited contribution to our total turnover – 10% - of these markets they pulled down our operating result before depreciation (EBITDA) for the first nine months of the year by SKr 30.1 million.

Contact for information
Stefan Tilk, Managing Director and CEO
Telephone: +46 (0) 31 17 29 45
Mobile: +46 (0) 702 499 419
stefan.tilk@geveko.se

The information in this interim report is such that AB Geveko is required to publish under the terms of the Securities Market Act and/or the Act concerning Trading in Financial Instruments.The information was released for publication at 1.30 p.m. on 25 October 2011

Documents & Links