Interim report January - September 2001

Interim report January - September 2001 HL Display AB (publ) ·The Group's net sales improved by 23 per cent to SEK 789 m (642). ·For the first time net sales exceed SEK 1 billion,over past 12 months. ·Profit before tax was SEK 68 m (36). ·For the full year a profit before tax of around SEK 80 (44) m is forecasted. [REMOVED GRAPHICS] Interim report January to September 2001 Sales and profit Group net sales was for the period January - September SEK 789 m (642), an increase by 23 per cent compared with the same period last year. Operating profit for the period was SEK 63 (40) MSEK and the profit before tax was SEK 68 m (36). In comparison with last year should be considered that HL Display as per nine months 2000 had received a refund of SEK 4.5 m from the insurance company Alecta (SPP). The PVC-prices are now on an average level compared to the last five years. Compared with last year, profits rose by SEK 5 m. Currency effects boosted operating profit by SEK 5 m and profit before tax by SEK 11m, compared with last year. HL Display has hedged a part of the expected inflow of Euro. The total contract, with due date in January 2003, amounted at period end to E 33 m. HL Display a billion company For the first time in the history of HL Display, the sales have now reached over one billion SEK, over past 12 months. HL Display was stock listed in 1993 and the turnover was SEK 183 m that year. The average growth rate since the introduction has been 28 percent yearly. Market The largest markets within the group have increased the most, in percentage as well as in absolute terms. Normally, HL Display is little affected by variations attributed to business cycles. This is because a significant part of the sales is non-cyclical; price- and product information is a fundamental condition for a well-functioning store. It can, however, not be excluded that the recent turbulence in world affairs will affect the order intake of HL Display. Acquisitions and sales No new acquisitions or sales of companies were carried out during the first nine moths of 2001. Investments Net investments in fixed assets during the period amounted to SEK 38 (38) m. Depreciation according to plan totalled SEK 34 (29) m. Financial position Liquid funds amounted to SEK 27m (12) as at 30 September 2001. The equity/assets ratio was 45 (48) per cent, and was 48 per cent at year- end 2000. Personnel In the first nine months of 2001, the average number of employees was 835 (770) and 855 (787) at end of the period. Outlook for the remainder of the year Previous reports have stated that profits for the whole of 2001 are expected to show an improvement on 2000. The profit margin, however, will not be in line with the long-term target of between 10 and 15 per cent over a business cycle. Previously it was also announced that the growth target of at least 20 per cent should be possible this year. For the full year 2001 net sales are now estimated to increase by around 20 per cent. Profit before taxes is estimated to become around SEK 80 (44) m. This result would, after standard tax, correspond to a profit per share of SEK 7.49 (4.13). For the Board of Directors: Stockholm, October 16th, 2001 [REMOVED GRAPHICS] Anders Remius Managing Director and CEO ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/16/20011016BIT00560/bit0001.doc The full report http://www.waymaker.net/bitonline/2001/10/16/20011016BIT00560/bit0001.pdf The full report