Interim report January - June 2000 HL Display AB

Interim report January - June 2000 HL Display AB (publ) * The Group's net sales improved by 12.3 per cent to SEK 419.1 m (373.1). * Profit before tax was SEK 20.8 m (19.8), an increase of 5.3 per cent. Higher PVC prices and currency effects had a negative effect on earnings. Sales and profit The Group's net sales during the period amounted to SEK 419.1 m (373.1), an increase of 12.3 per cent from the corresponding period of 1999. Of HL Display's total sales, 82 per cent go to export. During the period, 67 per cent was sold to EU member states. The recent strengthening of the krona, primarily against the Euro, has resulted in exchange rate effects that weakened the period's net sales by 2.5 per cent or SEK 10.4 m. The period's profit before tax was SEK 20.8 m (19.8), an increase of 5.3 per cent. In April, the funds allocated to the Group from the pension insurance company SPP, were reported in full according to the instructions issued by SPP. This has increased the Group's accumulated profit by a total of SEK 4.5 m. Earnings were negatively affected in an amount of SEK 6.3 m by a sharp rise in prices for the Group's primary raw material, PVC, relative to the same period of 1999. Compared with the preceding year, exchange rate effects weakened profit before tax by SEK 3.1 m. Market The market is undergoing a consolidation process through acquisitions and mergers, in many cases across borders. In the increasingly large chains that are arising, profiling and display decisions are moving higher up in the organisations. By reorganising and developing HL Display's organisation, the demands of these customers can be met and the extremely favourable market conditions can be better exploited. Acquisitions and sales No new acquisitions or sales of companies were carried out during the period. Investments The period's net investments in fixed assets amounted to SEK 28.6 m (33.9). Depreciation according to plan totalled SEK 18.7 m (14.4). Financial position Liquid funds have decreased by SEK 12.8 m since year-end and amounted to SEK 10.2 m (23.4) on June 30. The equity/assets ratio was 49.2 (50.5) per cent, compared with 51.6 per cent at year-end 1999. Share data Earnings per share after full tax for the past 12-month period amounted to SEK 4.46 (3.75). Shareholders' equity per share at the end of the period was SEK 29.39 (26.33). The total number of shares outstanding is 7,688,872. Personnel The average number of employees during the period was 757 (692), compared with 772 (725) at end of period. Annual General Meeting The Annual General Meeting on March 20, 2000 approved the Board's proposed dividend of SEK 1.30 per share. Full-year forecast A full-year forecast will be published together with the nine-month report. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/07/17/20000717BIT00240/bit0001.doc http://www.bit.se/bitonline/2000/07/17/20000717BIT00240/bit0002.pdf