Interim report January - March 2001 HL Display AB (publ)

Interim report January - March 2001 HL Display AB (publ) · The Group's net sales improved by 19.7 per cent to SEK 240.1 m (200.5). Profit before tax was SEK 10.2 m (5.7). Interim report January to March 2001 Sales and profit The Group's net sales during the period amounted to SEK 240.1m (200.5), an increase of 19.7 per cent from the corresponding period of 2000. Of HL Display's total sales, 84 per cent are exported. Around 70 per cent of the Group's sales are dependent on currency fluctuations. 50 per cent is invoiced in currencies connected to Euro. The Swedish krona has been weak during the period which has meant that currency fluctuations contributed to the Group's net sales by 4.1 per cent or SEK 9.9 m. The period's profit before tax was SEK 10.2 m (5.7). Exchange rate effects improved profit before tax by SEK 4.2 m compared with the preceding year. Relative to the same period of 2000, earnings were positively affected in an amount of SEK 1.8 m, since prices for the Group's primary raw material, PVC, has decreased. A conscious effort to develop the organisation and methodology for product development is expected to create future innovations and thereby continued progress for HL Display. Market The launch of the Merchandising concept OptishopTM, was a milestone in the history of HL Display. Still in the same niche as when started in 1954, the company has developed from being a producer of price-tag holders, via a Datastrip company to the leading Merchandising company in 2001. Through the competence within production, product development and sales organisation that has been built during the years, HL Display has today the requirements to meet the demands of its customers. Through geographical expansion, multinational customers can now be served in most of the local markets were they are present. With this as a background, the upgrading of the sales force, through recruitment and education, has been strategically important. Towards the end of 2001, this reorganisation to Key Account Management is expected to be completed in all the larger sales companies. 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 15.7 m (15.6). Depreciation according to plan totalled SEK 10.9 (9.2). Financial position Liquid funds amounted to SEK 24.5m (18.2) on March 31. The equity/assets ratio was 44.1 (46.9) per cent, compared with 47.6 per cent at year-end 2000. Share data Earnings per share after full tax amounted for the past 12-month period to SEK 3.80 (4.20). Shareholders' equity per share at the end of the period was SEK 30.48 (28.08). The total number of shares outstanding is 7,688,872. Personnel The average number of employees during the period was 817 (741), compared with 825 (759) at end of period. Annual General Meeting of shareholder's The proposed dividend of SEK 1.40 per share was decided by the Annual General meeting of shareholder's that was held March 19th 2001. Outlook for the reminder of the year For the full year of 2001 a profit improvement is expected, however not in level with the long-term goals. In the course of one business cycle HL Display should achieve an annual average growth rate of at least 20 per cent with a profit margin of between 10 and 15 per cent. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/18/20010418BIT00630/bit0001.doc http://www.bit.se/bitonline/2001/04/18/20010418BIT00630/bit0001.pdf